<SEC-DOCUMENT>0001534424-13-000501.txt : 20131217
<SEC-HEADER>0001534424-13-000501.hdr.sgml : 20131217
<ACCEPTANCE-DATETIME>20131217164243
ACCESSION NUMBER:		0001534424-13-000501
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20131217
DATE AS OF CHANGE:		20131217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-192906
		FILM NUMBER:		131282423

	BUSINESS ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-769-3200

	MAIL ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>f13-0804.htm
<DESCRIPTION>FORM S-3
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on December 17, 2013</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No.&nbsp;333-______</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-3</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pro-Dex, Inc.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Colorado</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 43%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>84-1261240</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(State or other jurisdiction of</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">of incorporation or organization)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(I.R.S. Employer</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2361 McGaw Avenue</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Irvine,&nbsp;&nbsp;California</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>92614</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Harold A. Hurwitz</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>President and Chief Executive Officer</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Pro-Dex, Inc.</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2361 McGaw Avenue</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Irvine, California 92614</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(949) 769-3200</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Name, address and telephone number, including area</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">code, of agent for service)</FONT></TD>
    <TD STYLE="width: 47%">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><I>Copies to:</I><BR>
        <B>Garett Sleichter</B><BR>
        <B>Rutan &amp; Tucker, LLP</B><BR>
        <B>611 Anton Boulevard</B></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Suite 1400<BR>
        Costa Mesa, California 92626<BR>
        (714) 641-5100</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Approximate date of commencement of
proposed sale to public:</B><BR>
As soon as practicable after this Registration Statement is declared effective.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please
check the following box:&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0 9pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check
the following box:&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0 9pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check
the following box and list the Securities Act registration statement number of the earlier effective registration statement for
the same offering.&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0 9pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0 9pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become
effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0 9pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register
additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following
box.&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the
definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;smaller reporting company&#8221;
in Rule&nbsp;12b-2&nbsp;of the Exchange Act.</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 51%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&uml;</FONT></TD>
    <TD STYLE="width: 23%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Non-accelerated filer</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&uml; &nbsp;&nbsp;(Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">X</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;<A NAME="FIS_REGISTRATION_FEE"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title of each class of</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>securities to be registered (1)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 1.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Proposed maximum</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>aggregate offering price</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 1.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount of</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>registration fee</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; padding-left: 0.25in; text-indent: -0.25in; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subscription Rights to purchase Common Stock, no par value per share (1)</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">N/A</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">N/A</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Common Stock, no par value per share, issuable upon exercise of Subscription Rights (1)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,000,000</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">386.40</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TOTAL:</FONT></TD>
    <TD STYLE="border-bottom: black 6.75pt double; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 6.75pt double; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,000,000</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 6.75pt double; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 6.75pt double; padding-right: 0.8pt; text-align: right; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">386.40</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This Registration Statement relates to: (a) non-transferable Subscription Rights to purchase Common Stock of the Registrant, which Subscription Rights are to be issued to holders of the Registrant&#8217;s Common Stock on a pro rata basis without consideration, and (b) the shares of the Registrant&#8217;s Common Stock issuable upon the exercise of such non-transferable Subscription Rights pursuant to the Rights Offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Subscription Rights are being issued without consideration. Pursuant to Rule&nbsp;457(g), no separate registration fee is payable with respect to the Subscription Rights being offered hereby since the Subscription Rights are being registered in the same Registration Statement as the securities to be offered pursuant thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Calculated pursuant to Rule&nbsp;457(o)&nbsp;based on an estimate of the proposed maximum offering price. The actual number of Subscription Rights and shares of the Registrant&#8217;s Common Stock to be issued in connection with the Rights Offering will be determined based on the market price of the Registrant&#8217;s Common Stock at a future date.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The registrant hereby amends this
Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a
further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with
Section&nbsp;8(a)&nbsp;of the Securities Act of 1933, or until this Registration Statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to such Section&nbsp;8(a), may determine.</B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 1pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage2"></A>&nbsp;</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/0.05pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><B>The information contained
in this Prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed
with the Securities and Exchange Commission is effective. This Prospectus is not an offer to sell these securities and we are not
soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #FF4040; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><B>SUBJECT TO COMPLETION,
DATED DECEMBER 17, 2013</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0.5in"><IMG SRC="prodex.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Subscription Rights to purchase up
to [&#9679;] shares of Common Stock at $[&#9679;] per share</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>and the shares of Common Stock issuable
upon the exercise of such Subscription Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/0.75pt Times New Roman, Times, Serif; margin: 3pt 215.9pt 0; text-align: center; background-color: black">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pro-Dex, Inc., a
Colorado corporation (&#8220;us&#8221;, &#8220;we&#8221;, &#8220;our&#8221;, &#8220;Pro-Dex&#8221; or the &#8220;Company&#8221;),
is distributing, at no charge to holders of our common stock, no par value per share (&#8220;Common Stock&#8221;), as of 5:00&nbsp;p.m.,
New York City time, on [&#9679;], 201[&#9679;] (the &#8220;Record Date&#8221;), non-transferable Subscription Rights (&#8220;Subscription
Rights&#8221;) to purchase an aggregate of up to [&#9679;] shares of our Common Stock (the &#8220;Rights Offering&#8221;).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For each share of
Common Stock held by a shareholder of the Company as of 5:00&nbsp;p.m., New York City time, on the Record Date, such shareholder
will receive [&#9679;] Subscription Rights.&nbsp;&nbsp;Subscription Rights may only be exercised in whole numbers; we will not
issue fractional shares and will round all of the Subscription Rights down to the nearest whole number. Each whole Subscription
Right will allow the holder thereof to subscribe to purchase one share of Common Stock (the &#8220;Subscription Privilege&#8221;)
at a subscription price of $[&#9679;] per share (the &#8220;Subscription Price&#8221;).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with
the Rights Offering, we have entered into a Standby Purchase Agreement (the &#8220;Standby Purchase Agreement&#8221;) with AO Partners,
LLC (together with its permitted designees under the Standby Purchase Agreement, &#8220;AO Partners&#8221;) and Farnam Street Capital,
Inc. (together with its permitted designees under the Standby Purchase Agreement, &#8220;Farnam Street Capital&#8221;). If any
Subscription Rights remain unexercised after the expiration of the Rights Offering, AO Partners and Farnam Street Capital (the
&#8220;Standby Purchasers&#8221;) have agreed to purchase, at the Subscription Price, in a private transaction separate from the
Rights Offering, any and all shares of Common Stock, up to a maximum amount of $3,000,000 (the &#8220;Unsubscribed Shares&#8221;),
not subscribed for by the Company&#8217;s shareholders pursuant to the exercise of their Subscription Privileges (provided that
the total number of shares of Common Stock purchasable by the Standby Purchasers pursuant to the Standby Purchase Agreement is
subject to reduction based on the tax attribute considerations (the &#8220;Tax Attribute Considerations&#8221;) described under
&#8220;What are the limitations on the exercise of the Subscription Privilege and purchases by the Standby Purchasers?&#8221; under
&#8220;Questions and Answers Relating to the Rights Offering&#8221; below).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Unsubscribed
Shares will be allocated 50% to AO Partners and 50% to Farnam Street Capital. Nicholas J. Swenson, a director of the Company, is
the Managing Member of AO Partners and, in such capacity, has the power to direct the affairs of AO Partners. Raymond E. Cabillot,
a director of the Company, is Chief Executive Officer and a director of Farnam Street Capital and, in such capacity, has the power
to direct the affairs of Farnam Street Capital. No fees or other consideration will be paid by the Company to the Standby Purchasers
in exchange for their commitment to purchase any and all Unsubscribed Shares. Any shares of Common Stock issued to the Standby
Purchasers in connection with the standby purchase commitment described above will be &#8220;restricted securities&#8221; as that
term is defined in Rule 144 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). The Standby Purchasers
or their affiliates may also exercise the Subscription Privileges they hold in their capacity as shareholders of the Company. In
light of the Standby Purchasers&#8217; commitment, the Company anticipates that it will receive $3,000,000 in proceeds (before
expenses and subject to reduction as a result of Tax Attribute Considerations) if the Rights Offering is completed.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights will expire if they are not exercised by 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;]. The Rights Offering
period may not be extended. You should carefully consider whether to exercise your Subscription Rights before the</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">expiration of the Rights Offering. All
exercises of Subscription Rights are irrevocable. Our Board of Directors is making no recommendation regarding your exercise of
the Subscription Rights. The Subscription Rights may not be sold or transferred. We may in our sole discretion cancel the Rights
Offering at any time and for any reason. If we cancel the Rights Offering, Broadridge Corporate Issuer Solutions, Inc., in its
capacity as our subscription agent for the Rights Offering (the &#8220;Subscription Agent&#8221;), will return all subscription
payments it has received for the cancelled offering without interest or penalty.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A NAME="eolPage3"></A>Our
Common Stock is listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221;. The shares of Common Stock
issued in the Rights Offering will also be listed on the NASDAQ Capital Market under the same symbol. On December 17,
2013, the closing price of our Common Stock was $2.49 per share.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Investing in
our Common Stock involves risks. You should carefully review and consider the information contained in this Prospectus, including
the risk factors beginning on page 15 of this Prospectus, as well as the risk
factors and other information contained in any documents we incorporate by reference into this Prospectus before exercising your
Subscription Rights. See &#8220;Where You Can Find More Information.&#8221;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>NEITHER THE SECURITIES
AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our principal executive
offices are located at 2361 McGaw Avenue, Irvine, California 92614, and our telephone number is (949) 769-3200.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">The date of this Prospectus is [&#9679;],
20[&#9679;].</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage4"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_TABLE_OF_CONTENTS"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 83%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Forward-Looking Statements</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">About This Prospectus</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Questions and Answers Relating to the Rights Offering</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Prospectus Summary</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Risk Factors</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information About the Company</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Rights Offering</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description of Capital Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Plan of Distribution</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use of Proceeds</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Price Range of Common Stock and Dividend Policy</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certain Material U.S. Federal Income Tax Considerations</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Legal Matters</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Experts</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Where You Can Find More Information</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>If you are in
a jurisdiction where offers to sell, or solicitations of offers to purchase, the securities offered by this document are unlawful,
or if you are a person to whom it is unlawful to direct these types of activities, then the offer presented in this Prospectus
does not extend to you.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>We have not authorized
anyone to provide you with any information other than the information incorporated by reference or provided in this Prospectus
or any prospectus supplement. We are not making an offer of these securities in any state or other jurisdiction where the offer
is not permitted. You should not assume that the information in this Prospectus, any prospectus supplement or any document incorporated
or deemed to be incorporated by reference in this Prospectus is accurate as of any date other than the date of that document.</B></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 6pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage5"></A></P>

<P STYLE="font: 6pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><A NAME="FIS_FORWARD_LOOK"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Prospectus
and the documents incorporated by reference contain statements that are considered &#8220;forward looking statements&#8221; within
the meaning of United States securities laws. In addition, the Company and its management may make other written or oral communications
from time to time that contain forward-looking statements. Forward-looking statements, including statements about industry trends,
management&#8217;s future expectations and other matters that do not relate strictly to historical facts, are based on assumptions
by management, and are often identified by such forward-looking terminology as &#8220;expect,&#8221; &#8220;look,&#8221; &#8220;believe,&#8221;
&#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;seek,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;trend,&#8221;
&#8220;target&#8221; and &#8220;goal&#8221; or similar statements or variations of such terms. Forward-looking statements may include,
among other things, statements about the Company&#8217;s confidence in its strategies and its expectations about financial performance,
market growth, market and regulatory trends and developments, acquisitions and divestitures, new technologies, products, services
and opportunities and earnings.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Forward-looking
statements are subject to various risks and uncertainties, which change over time, are based on management&#8217;s expectations
and assumptions at the time the statements are made, and are not guarantees of future results. Management&#8217;s expectations
and assumptions, and the continued validity of the forward-looking statements, are subject to change due to a broad range of factors
affecting the national and global economies, the equity, debt, currency and other financial markets, as well as risk factors specific
to the Company. Actual outcomes and results may differ materially from what is expressed in our forward-looking statements and
from our historical financial results due to the risk factors discussed elsewhere in this Prospectus or disclosed in our other
filings with the Securities and Exchange Commission (&#8220;SEC&#8221;).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Forward-looking
statements should not be relied upon as representing our expectations or beliefs as of any date subsequent to the time this Prospectus
is filed with the SEC. The Company undertakes no obligation to revise the forward-looking statements contained in this Prospectus
to reflect events after the time it is filed with the SEC, other than as required by law.&nbsp;&nbsp; The risk factors discussed
in this Prospectus are not intended to be a complete summary of all risks and uncertainties that may affect our business. Though
we strive to monitor and mitigate risk, we cannot anticipate all potential economic, operational and financial developments that
may adversely impact our operations and our financial results.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Forward-looking statements should not be viewed as predictions,
and should not be the primary basis upon which investors evaluate the Company. Any investor in the Company should consider all
risks and uncertainties disclosed in our SEC filings described below under the heading &#8220;Where You Can Find More Information,&#8221;
all of which are accessible on the SEC&#8217;s website at <I>http://www.sec.gov</I>.</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="eolPage6"></A><A NAME="FIS_PROSPECTUS_SUMMARY"></A>
ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Except as otherwise
indicated by the context, references in this Prospectus to the &#8220;Company,&#8221; &#8220;Pro-Dex,&#8221; &#8220;we,&#8221;
&#8220;us&#8221; or &#8220;our&#8221; are references to the combined business of Pro-Dex, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>You should rely
only on the information contained or incorporated by reference in this Prospectus. We have not authorized anyone to provide you
with additional or different information from that contained or incorporated by reference in this Prospectus. The information contained
in this Prospectus is accurate only as of the date on the front cover of this Prospectus and any information we have incorporated
by reference is accurate only as of the date of the document incorporated by reference, regardless of the time of delivery of this
Prospectus or any exercise of the rights or sale of the securities.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The distribution of this Prospectus and the offering and sale of shares of our Common Stock in certain jurisdictions may be restricted
by law. This Prospectus does not constitute an offer of, or a solicitation of an offer to buy, any shares of our Common Stock in
any jurisdiction in which such offer or invitation would be unlawful.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="eolPage7"></A>&nbsp;</B></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUESTIONS AND ANSWERS RELATING TO
THE RIGHTS OFFERING</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The following are examples of what
we anticipate will be common questions about the Rights Offering. The answers are based on selected information included elsewhere
in this Prospectus. The following questions and answers do not contain all of the information that may be important to you and
may not address all of the questions that you may have about the Rights Offering. This Prospectus and the documents we incorporate
by reference contain more detailed descriptions of the terms and conditions of the Rights Offering and provide additional information
about us and our business, including potential risks related to the Rights Offering, our Common Stock and our business.</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What is the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are distributing,
at no charge to holders of our Common Stock, as of 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;], non-transferable
Subscription Rights to purchase an aggregate of up to [&#9679;] shares of our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Why are we conducting the Rights
Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are conducting
the Rights Offering to raise equity capital and to provide our existing shareholders with the opportunity to purchase additional
shares of our Common Stock. We intend to use the net proceeds of the Rights Offering to pursue strategic opportunities that may
present themselves from time to time or, if not used to pursue strategic opportunities, for working capital and general corporate
purposes, including to fund our ongoing research and development and product initiatives. Also, to the extent net proceeds of the
Rights Offering are not deployed, some of the funds may be invested in accordance with the terms of our Surplus Capital Investment
Policy.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What is the Subscription Privilege?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For each share of
Common Stock held by a shareholder of the Company as of 5:00&nbsp;p.m., New York City time, on the Record Date, such shareholder
will receive [&#9679;] Subscription Rights. Subscription Rights may only be exercised in whole numbers; we will not issue fractional
shares and will round all of the Subscription Rights down to the nearest whole number. Each whole Subscription Right will allow
the holder thereof to subscribe to purchase one share of Common Stock at a Subscription Price of $[&#9679;] per share.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For example, if
you owned 1,000 shares of our Common Stock as of 5:00&nbsp;p.m., New York City time, on the Record Date, you would receive [&#9679;]
Subscription Rights entitling you to purchase [&#9679;] shares of Common Stock for a total purchase price of $[&#9679;] pursuant
to your Subscription Privilege.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage8"></A>What
is the role of the Standby Purchasers in this offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with
the Rights Offering, we have entered into a Standby Purchase Agreement with AO Partners and Farnam Street Capital. Pursuant to
the Standby Purchase Agreement, the Standby Purchasers have agreed to purchase, at the Subscription Price, in a private transaction
separate from the Rights Offering, any and all Unsubscribed Shares (subject to reduction as a result of Tax Attribute Considerations).
Pursuant to the terms of the Standby Purchase Agreement, the Unsubscribed Shares will be allocated 50% to AO Partners and 50% to
Farnam Street Capital. Nicholas J. Swenson, a director of the Company, is the Managing Member of AO Partners and, in such capacity,
has the power to direct the affairs of AO Partners. Raymond E. Cabillot, a director of the Company, is Chief Executive Officer
and a director of Farnam Street Capital and, in such capacity, has the power to direct the affairs of Farnam Street Capital. Any
shares of Common Stock issued to the Standby Purchasers in connection with the standby purchase commitment described above will
be &#8220;restricted securities&#8221; as that term is defined in Rule 144 under the Securities Act. The Standby Purchasers and
certain of their affiliates may also exercise the Subscription Privileges they hold in their capacity as shareholders of the Company.</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Are the Standby Purchasers receiving
any compensation for their standby commitment?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No fees or other
consideration will be paid by the Company to the Standby Purchasers in exchange for their commitment to purchase any and all Unsubscribed
Shares.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How many shares of Common Stock will
the Standby Purchasers own after the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The number of shares
of Common Stock that will be purchased by the Standby Purchasers can only be determined upon the completion of the Rights Offering.
The Standby Purchasers will purchase all shares of Common Stock that could have been but were not subscribed for in the Rights
Offering (subject to reduction as a result of Tax Attribute Considerations). If the Rights Offering is fully subscribed by shareholders
through the exercise in full of their Subscription Privileges, the Standby Purchasers or their affiliates</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">will purchase shares of Common Stock
pursuant to the exercise of their respective Subscription Privileges, but will not purchase any additional shares of Common Stock
pursuant to the Standby Purchase Agreement.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If, on the other
hand, no shareholders were to purchase any shares of Common Stock through the exercise of their Subscription Privileges (and assuming
that the Tax Attribute Considerations do not result in a lesser number of shares of Common Stock being issued to the Standby Purchasers),
all of the shares offered pursuant to the Rights Offering would be issued and sold to the Standby Purchasers. In that event, [&#9679;]
shares of Common Stock would be issued to the Standby Purchasers &#8211; with [&#9679;] shares to be purchased by AO Partners and
[&#9679;] shares to be purchased by Farnam Street Capital. As a result, assuming that all shares offered pursuant to the Rights
Offering are issued and sold to the Standby Purchasers, Nicholas J. Swenson, a director of the Company, would control (either directly
or indirectly through AO Partners or other entities controlled by Mr. Swenson) approximately [&#9679;] shares, or [&#9679;]%, of
the Company&#8217;s outstanding Common Stock, and Raymond E. Cabillot, a director of the Company, would control (either directly
or indirectly through Farnam Street Capital or other entities controlled by Mr. Cabillot) approximately [&#9679;] shares, or [&#9679;]%,
of the Company&#8217;s outstanding Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Am I required to exercise the Subscription
Rights that I receive in the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No. You may exercise
your Subscription Rights in full or in part, or you may choose not to exercise any of your Subscription Rights. However, if you
choose not to fully exercise your Subscription Rights, the percentage of our Common Stock owned by shareholders participating in
the Rights Offering (or, at a minimum, owned by the Standby Purchasers) will increase relative to your ownership percentage, and
your voting and other rights will likewise be diluted.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What are the limitations on the exercise
of the Subscription Privilege and purchases by the Standby Purchasers?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event that
the exercise by a shareholder of the Subscription Privilege or the purchase of Common Stock under the Standby Purchase Agreement
could, as determined by the Company in its sole discretion, potentially result in a limitation on the Company&#8217;s ability to
use net operating losses, tax credits and other tax attributes, which we refer to as the &#8220;Tax Attributes,&#8221; under the
Internal Revenue Code of 1986, as amended, which we refer to as the &#8220;Code&#8221;, and rules promulgated by the Internal Revenue
Service, the Company may, but is under no obligation to, reduce the exercise by such shareholder of the Subscription Privilege
or the amount purchased under the Standby Purchase Agreement to such number of shares of Common Stock as the Company in its sole
discretion shall determine to be advisable in order to preserve the Company&#8217;s ability to use the Tax Attributes. <A NAME="eolPage9"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>How soon must I act to exercise
my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Shareholders desiring
to exercise their Subscription Rights will be required to submit payment in full for all of the shares of Common Stock that they
wish to purchase under their Subscription Privilege to the Subscription Agent, by no later than 5:00 p.m., New York City time,
on [&#9679;], 201[&#9679;] (the &#8220;Expiration Date&#8221;). Any fractional shares of our Common Stock resulting from the exercise
of Subscription Rights will be eliminated by rounding down to the nearest whole share, with the total subscription payment being
adjusted accordingly. Any excess subscription payments that shareholders may pay to the Subscription Agent in the Rights Offering
will be returned, without interest or penalty, by the Subscription Agent to the applicable shareholder(s) as soon as practicable
following the completion of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights will expire if they are not exercised by 5:00&nbsp;p.m., New York City time, on the Expiration Date. The Rights Offering
period may not be extended. You should carefully consider whether to exercise your Subscription Rights before the expiration of
the Rights Offering. All exercises of Subscription Rights are irrevocable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We may in our sole
discretion cancel the Rights Offering at any time and for any reason. If we cancel the Rights Offering, the Subscription Agent
will return all subscription payments it has received for the cancelled offering without interest or penalty.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>May I transfer my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No, you may not
sell, transfer or assign your Subscription Rights to anyone else.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Are we requiring a minimum subscription
to complete the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No, but our Board
of Directors reserves the right to cancel the Rights Offering for any reason, including if our Board of Directors believes that
there is insufficient participation by our shareholders. If the Rights Offering is cancelled, all subscription proceeds received
by the Subscription Agent will be returned, without interest or penalty, as soon as practicable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How was the Subscription Price determined?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Price is equal to [&#9679;]% of the closing price of our Common Stock, as reported by the NASDAQ Capital Market, on [&#9679;],
201[&#9679;] (which was the latest practicable date on which the Subscription Price could be established prior to the launch of
the Rights Offering). The Subscription Price is not necessarily related to our book value, results of operations, cash flows, financial
condition or the future market value of our Common Stock. We cannot assure you that you will be able to sell shares purchased in
this Rights Offering at a price equal to or greater than the Subscription Price. We do not intend to change the Subscription Price
in response to changes in the trading price of our Common Stock prior to the closing of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Are there any other conditions to
the completion of the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Yes. The completion
of the Rights Offering is subject to the conditions described under &#8220;The Rights Offering&#8212;Conditions and Cancellation.&#8221;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Can the Rights Offering be cancelled?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Yes. We may cancel
the Rights Offering at any time prior to the Expiration Date and for any reason. If the Rights Offering is cancelled, all subscription
payments received by the Subscription Agent will be returned, without interest or penalty, as soon as practicable to those persons
who subscribed for shares in the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How do I exercise my Subscription
Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You must properly
complete the enclosed Subscription Rights Certificate and deliver it, along with the full Subscription Price, to the Subscription
Agent before 5:00&nbsp;p.m., New York City time, on the Expiration Date. If you use the mail, we recommend that you use insured,
registered mail, return receipt requested. If you cannot deliver your Subscription Rights Certificate to the Subscription Agent
prior to the expiration of the Rights Offering, you may follow the guaranteed delivery procedures described under &#8220;The Rights
Offering&#8212;Notice of Guaranteed Delivery.&#8221;</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage10"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you send a payment
that is insufficient to purchase the number of shares you requested, or if the number of shares you requested is not specified
in the forms, the payment received will be applied to exercise your Subscription Privilege request that we have accepted to the
fullest extent possible based on the amount of the payment received, subject to the elimination of fractional shares. If the payment
exceeds the Subscription Price for the full exercise of your Subscription Privilege request that we have accepted, then the excess,
without interest or penalty, will be returned to you as soon as practicable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>If the Rights Offering is not completed,
will my subscription payment be refunded to me?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Yes. The Subscription
Agent will hold all funds it receives in a segregated bank account until completion of the Rights Offering. If the Rights Offering
is not completed, the Subscription Agent will return, without interest or penalty, as soon as practicable all subscription payments.
If you own shares in &#8220;street name,&#8221; it may take longer for you to receive payment because the Subscription Agent will
return payments through the record holder of the shares.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What form of payment must I use to
pay the Subscription Price?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You must timely
pay the full Subscription Price for the full number of shares of Common Stock you wish to acquire under the Subscription Privilege
request by delivering to the Subscription Agent a certified or cashier&#8217;s check, a bank draft drawn on a U.S. bank, or a personal
check that clears before the Expiration Date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What should I do if I want to participate
in the Rights Offering, but my shares are held in the name of my broker, dealer, custodian bank or other nominee?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If your shares of
Common Stock are held in the name of a broker, dealer, custodian bank or other nominee, then your broker, dealer, custodian bank
or other nominee is the record holder of the shares you own. You will not receive a Subscription Rights Certificate. The record
holder must exercise the Subscription Rights on your behalf for the shares of Common Stock you wish to purchase.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will ask your
broker, dealer, custodian bank or other nominee to notify you of the Rights Offering. You should complete and return to your record
holder the form entitled &#8220;Beneficial Owner Election Form.&#8221; You should receive this form from your record holder with
the other Rights Offering materials.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you wish to participate
in the Rights Offering and purchase shares of our Common Stock, please contact the record holder of your shares promptly. Your
bank, broker or other nominee holder is the holder of the shares you own and must exercise the Subscription Rights on your behalf
for shares you wish to purchase. Your broker, dealer, custodian bank or other nominee may establish a deadline prior to the 5:00&nbsp;p.m.,
New York City time, on the Expiration Date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>After I exercise my Subscription
Rights, can I change my mind?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No. All exercises
of Subscription Rights are irrevocable, even if you later learn information that you consider to be unfavorable to the exercise
of your Subscription Rights or if the market price of our Common Stock drops below the Subscription Price. You should not exercise
your Subscription Rights unless you are certain that you wish to purchase additional shares of our Common Stock at the Subscription
Price.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage11"></A>Are
there risks in exercising my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Yes. The exercise
of your Subscription Rights involves risks. Exercising your Subscription Rights means buying shares of our Common Stock and should
be considered as carefully as you would consider any other equity investment. Among other things, you should carefully consider
the risks, uncertainties and other information described under the heading &#8220;Risk Factors&#8221; in this Prospectus and the
risks, uncertainties and other information described in documents incorporated by reference in this Prospectus, including but not
limited to the sections entitled &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operation&#8221; in our Annual Report on Form 10-K for the year ended June 30, 2013 and our Quarterly
Report on Form&nbsp;10-Q for the quarter ended September 30, 2013, as well as the risks, uncertainties and other information described
in our other filings with the Securities and Exchange Commission (including but not limited to any subsequently filed Quarterly
Reports on Form&nbsp;10-Q), pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act of 1934, as amended (the &#8220;Exchange
Act&#8221;), before making a decision to invest in our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Has our Board of Directors made a
recommendation to our shareholders regarding the Rights Offering and is the Board of Directors participating in the Rights Offering
?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
is making no recommendation regarding your exercise of the Subscription Rights. Shareholders who exercise Subscription Rights risk
investment loss on new money invested. We cannot assure you that the market price of our Common Stock will be above the Subscription
Price at the time of exercise or at the expiration of the Rights Offering or that anyone purchasing shares at the Subscription
Price will be able to sell those shares in the future at the same price or a higher price. You are urged to decide whether or not
to exercise your Subscription Rights based on your own assessment of our business and the Rights Offering. Among other things,
you should carefully consider the risks, uncertainties and other information described under the heading &#8220;Risk Factors&#8221;
in this Prospectus and the risks, uncertainties and other information described in documents incorporated by reference in this
Prospectus, including but not limited to the sections entitled &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion
and Analysis of Financial Condition and Results of Operation&#8221; in our Annual Report on Form 10-K for the year ended June 30,
2013 and our Quarterly Report on Form&nbsp;10-Q for the quarter ended September 30, 2013, as well as the risks, uncertainties and
other information described in our other filings with the Securities and Exchange Commission (including but not limited to any
subsequently filed Quarterly Reports on Form&nbsp;10-Q), pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act
before making a decision to invest in our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with
the Rights Offering, we have entered into a Standby Purchase Agreement with AO Partners and Farnam Street Capital. Pursuant to
the Standby Purchase Agreement, the Standby Purchasers have agreed to purchase, at the Subscription Price, in a private transaction
separate from the Rights Offering, any and all Unsubscribed Shares (subject to reduction as a result of Tax Attribute Considerations).
Pursuant to the terms of the Standby Purchase Agreement, the Unsubscribed Shares will be allocated 50% to AO Partners and 50% to
Farnam Street Capital. Nicholas J. Swenson, a director of the Company, is the Managing Member of AO Partners and, in such capacity,
has the power to direct the affairs of AO Partners. Raymond E. Cabillot, a director of the Company, is Chief Executive Officer
and a director of Farnam Street Capital and, in such capacity, has the power to direct the affairs of Farnam Street Capital. Other
members of the Board of Directors may decide to participate in the Rights Offering in their capacity as shareholders of the Company,
but are not required to do so. Any shares of Common Stock issued to the Standby Purchasers in connection with the standby purchase
commitment described above will be &#8220;restricted securities&#8221; as that term is defined in Rule 144 under the Securities
Act. The Standby Purchasers and certain of their affiliates may also exercise the Subscription Privileges they hold in their capacity
as shareholders of the Company.</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What fees or charges apply if I exercise
my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are not charging
any fees or sales commissions to issue Subscription Rights to you or to issue shares to you if you exercise your Subscription Rights.
If you exercise your Subscription Rights through a broker or other holder of your shares, you are responsible for paying any fees
that person may charge.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How do I exercise my Subscription
Rights if I live outside of the United States or have a U.S. military post office or foreign post office address?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Agent will hold Subscription Rights Certificates for shareholders having addresses outside the United States or who have a U.S.
military post office or foreign post office address. In order to exercise Subscription Rights, our foreign shareholders and shareholders
with a U.S. military post office or foreign post office address must notify the Subscription Agent and timely follow other procedures
described below under the heading &#8220;The Rights Offering&#8212;Foreign Shareholders.&#8221;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>When will I receive my new shares
of Common Stock?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">All shares that
you purchase in the Rights Offering will be issued in book-entry, or uncertificated, form. When issued, the shares will be registered
in the name of the Subscription Rights holder of record. As soon as practicable after the expiration of the Rights Offering, the
Subscription Agent will arrange for the issuance of the shares of Common Stock purchased pursuant to the Subscription Privilege.
Subject to state securities laws and regulations, we have the discretion to delay distribution of any shares you may have elected
to purchase by exercise of your Subscription Rights in order to comply with state securities laws.<A NAME="eolPage12"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Will the Subscription Rights
be listed on a stock exchange or trading market?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights may not be sold, transferred or assigned to anyone else and will not be listed on the NASDAQ Capital Market or any other
stock exchange or trading market. Our Common Stock trades on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221; and
the shares to be issued in connection with the Rights Offering will be eligible for trading on the NASDAQ Capital Market under
the same symbol.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What are the U.S. federal income
tax consequences of exercising my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The receipt and
exercise of Subscription Rights pursuant to the Subscription Privilege should generally not be taxable for U.S. federal income
tax purposes. You should, however, seek specific tax advice from your tax advisor in light of your particular circumstances and
as to the applicability and effect of any other tax laws. See &#8220;Certain Material U.S. Federal Income Tax Consequences.&#8221;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What happens if I choose not to exercise
my Subscription Rights?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You are not required
to exercise your Subscription Rights or otherwise take any action in response to this Rights Offering. If you do not exercise your
Subscription Rights and the Rights Offering is completed, the number of shares of our Common Stock you own will not change but
your percentage ownership of our total outstanding Common Stock will decrease because shares will be purchased by other shareholders
in the Rights Offering or by the Standby Purchasers. Your percentage ownership of our voting stock may also decrease if you do
not exercise your Basic Subscription Privilege in full.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How many shares of Common Stock will
be outstanding after the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of December 16,
2013, 3,342,321 shares of our
Common Stock were issued and outstanding. Assuming no other transactions by us involving our Common Stock, and no options for our
Common Stock are exercised prior to the expiration of the Rights Offering, if the Rights Offering is fully subscribed through the
exercise of the Subscription Rights and/or the Standby Purchasers acquire all of the Common Stock not purchased by the holders
of Subscription Rights, then an additional [&#9679;] shares of our Common Stock will be issued and outstanding after the closing
of the Rights Offering, for a total of [&#9679;] shares of Common Stock issued and outstanding. As a result of the Rights Offering,
the ownership interests and voting interests of the existing shareholders that do not fully exercise their Subscription Privileges
will be diluted.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>How much money will we receive from
the Rights Offering?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In light of the
Standby Purchasers&#8217; commitment, the total proceeds to us from the Rights Offering (before expenses and subject to reduction
as a result of Tax Attribute Considerations) will be approximately $3,000,000.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>To whom should I send my forms and payment?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If your shares are
held in the name of a broker, dealer or other nominee, then you should send your Beneficial Owner Election Form and Subscription
Payment to that record holder.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you are the record
holder, then you should send your Subscription Rights Certificates and payments of the Subscription Price to the Subscription Agent
(Broadridge Corporate Issuer Solutions, Inc.) at the appropriate address indicated below. Brokers and nominees should also submit
their Nominee Holder Certifications to the Subscription Agent at the appropriate address indicated below.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">By hand or overnight
courier:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Broadridge Corporate Issuer Solutions,
Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Reorganization Department</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">1981 Marcus Avenue, Suite 100</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Lake Success, NY 11042</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><A NAME="eolPage13"></A>By first class
mail:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Broadridge Corporate Issuer Solutions,
Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Reorganization Department</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">P.O. Box 1317</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Brentwood, NY 11717-0693</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You are solely responsible
for properly and timely delivering your Subscription Rights Certificates and payments of the Subscription Price (and, if you are
a broker or nominee, your Nominee Holder Certifications) to the Subscription Agent. We urge you to allow sufficient time for delivery
of your subscription materials to the Subscription Agent.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>What if I have more questions?</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you have more
questions about the Rights Offering or need additional copies of this Prospectus or other Rights Offering documents, please contact
the Subscription Agent (Broadridge Corporate Issuer Solutions, Inc.) at (855) 793-5068.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage14"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This summary highlights selected
information contained elsewhere in this Prospectus.&nbsp;&nbsp;Because it is a summary, it does not contain all of the information
that you should consider before investing in our securities.&nbsp;&nbsp;You should read the entire Prospectus carefully, including
the &#8220;Risk Factors&#8221; section and the other documents we refer to and incorporate by reference, in order to understand
this offering fully.&nbsp;&nbsp;In particular, we incorporate important business and financial information into this Prospectus
by reference.</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Company Information</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt">Pro-Dex is a corporation
organized under the laws of the State of Colorado. With operations in Irvine, California and Beaverton, Oregon, the Company designs
and produces powered surgical and dental instruments and motion control products used in the medical, factory automation and scientific
research industries. The Company currently conducts no other significant business activities. Our website address is www.pro-dex.com.
None of the information contained on, or that may be accessed through, our website is a prospectus or constitutes part of, or is
otherwise incorporated into, this Prospectus.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Common Stock
is listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221;. Our principal executive offices are located at 2361
McGaw Avenue, Irvine, California 92614, and our telephone number is (949) 769-3200.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Rights Offering Summary</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following summary
describes the principal terms of the Rights Offering, but is not intended to be complete. See the information under the heading
&#8220;The Rights Offering&#8221; in this Prospectus for a more detailed description of the terms and conditions of the Rights
Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE_2"></A></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Offered</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We are distributing, at no charge to holders of our Common Stock, non-transferable Subscription Rights to purchase up to [&#9679;] shares of our Common Stock.&nbsp;&nbsp;For each share of Common Stock held of record as of 5:00&nbsp;p.m., New York City time, on the Record Date (as specified below), you will receive [&#9679;] of a Subscription Right.&nbsp;&nbsp;Each whole Subscription Right will entitle you to purchase one share of our Common Stock at the Subscription Price specified below.&nbsp;&nbsp;Subscription Rights may only be exercised in whole numbers; we will not issue fractional shares of Common Stock upon exercise of Subscription Rights and, to the extent that the number of Subscription Rights that you are entitled to receive is not a whole number, the shares of Common Stock issuable upon exercise of the Subscription Rights will be rounded down to the nearest whole share for purposes of determining the number of shares of Common Stock for which you may subscribe.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subscription Privilege</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For each whole Subscription Right that you hold, you will have a Subscription Privilege to buy from us one share of our Common Stock at the Subscription Price. You may exercise your Subscription Privilege for some or all of your Subscription Rights, or you may choose not to exercise your Subscription Rights in your sole discretion. If you do not exercise your Subscription Rights and the Rights Offering is completed, the number of shares of our Common Stock you own will not change but your percentage ownership of our total outstanding Common Stock will decrease because shares will be purchased by other shareholders in the Rights Offering or by the Standby Purchasers. </FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subscription Price</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$[&#9679;] per share of Common Stock. To be effective, any payment related to the exercise of a Subscription Right must clear prior to the Expiration Date.</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 63%">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Limitation on Exercise of Subscription Privilege and Purchases by Standby Purchasers</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 64%; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In the event that the exercise by a shareholder of the Subscription Privilege or the purchase of Common Stock under the Standby Purchase Agreement could, as determined by the Company in its sole discretion, potentially result in a limitation on the Company&#8217;s ability to use Tax Attributes under the Code and rules promulgated by the Internal Revenue Service, the Company may, but is under no obligation to, reduce the exercise by such shareholder of the Subscription Privilege or the amount purchased under the Standby Purchase Agreement to such number of shares of Common Stock as the Company in its sole discretion shall determine to be advisable in order to preserve the Company&#8217;s ability to use the Tax Attributes.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Record Date</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[&#9679;], 201[&#9679;].</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Expiration Date</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Subscription Rights will expire at 5:00 p.m., New York City time, on [&#9679;], 201[&#9679;].</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Procedure for Exercising Rights</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">You must properly complete the enclosed Subscription Rights Certificate and deliver it, along with the full Subscription Price, to the Subscription Agent before the Expiration Date.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If you use the mail, we recommend that you use insured, registered mail, return receipt requested. If you cannot deliver your Subscription Rights Certificate to the Subscription Agent on time, you may follow the guaranteed delivery procedures described under &#8220;The Rights Offering&#8212;Guaranteed Delivery Procedures.&#8221;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Standby Purchasers and Standby Purchase Agreement</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: justify">In connection with the Rights
        Offering, we have entered into a Standby Purchase Agreement with AO Partners and Farnam Street Capital. Pursuant to the Standby
        Purchase Agreement, the Standby Purchasers have agreed to purchase, at the Subscription Price, in a private transaction separate
        from the Rights Offering, any and all Unsubscribed Shares (subject to reduction as a result of Tax Attribute Considerations, see
        &#8220;Limitation on Exercise of Subscription Privilege and Purchases by Standby Purchasers&#8221; above). Pursuant to the terms
        of the Standby Purchase Agreement, the Unsubscribed Shares will be allocated 50% to AO Partners and 50% to Farnam Street Capital.
        Nicholas J. Swenson, a director of the Company, is the Managing Member of AO Partners and, in such capacity, has the power to direct
        the affairs of AO Partners. Raymond E. Cabillot, a director of the Company, is Chief Executive Officer and a director of Farnam
        Street Capital and, in such capacity, has the power to direct the affairs of Farnam Street Capital. &nbsp;Any shares of Common
        Stock issued to the Standby Purchasers in connection with the standby purchase commitment described above will be &#8220;restricted
        securities&#8221; as that term is defined in Rule 144 under the Securities Act. The Standby Purchasers and certain of their affiliates
        may also exercise the Subscription Privileges they hold in their capacity as shareholders of the Company.</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: justify">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use of Proceeds</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We expect the net proceeds from the Rights Offering and the transactions contemplated by the Standby Purchase Agreement to be approximately $3,000,000 (before expenses and subject to reduction as a result of Tax Attribute Considerations). We intend to use the net proceeds from the Rights Offering to pursue strategic opportunities that may present themselves from time to time or, if not used to pursue strategic opportunities, for working capital and general corporate purposes, including to fund our ongoing research and development and product initiatives.&nbsp;&nbsp;Also, to the extent net proceeds of the Rights Offering are not deployed, some of the funds may be invested in accordance with the terms of our Surplus Capital Investment Policy</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Non-Transferability of Rights</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Subscription Rights may not be sold, transferred or assigned and will not be listed for trading on the NASDAQ Capital Market or any other stock exchange or trading market.&nbsp;&nbsp;The shares of Common Stock issuable upon exercise of the Subscription Rights will be listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221;.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Revocation</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All exercises of Subscription Rights are irrevocable, even if you later learn information about us that you consider unfavorable or if the market price of our Common Stock drops below the Subscription Price. You should not exercise your Subscription Rights unless you are certain that you wish to purchase the shares of Common Stock offered pursuant to the Rights Offering.</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 64%; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Conditions to the Rights Offering</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The completion of the Rights Offering is subject to the conditions described under &#8220;The Rights Offering&#8212;Conditions and Cancellation.&#8221;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cancellation</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We reserve the right to withdraw the Rights Offering at any time prior to the Expiration Date and for any reason. If the Rights Offering is cancelled, all subscription payments received by the Subscription Agent will be returned, without interest or penalty, as soon as practicable to those persons who subscribed for shares in the Rights Offering.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Board Recommendation</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our Board of Directors is making no recommendations regarding your exercise of the Subscription Rights. You are urged to make your own decision whether or not to exercise your Subscription Rights based on your own assessment of our business and the Rights Offering. See the section below entitled &#8220;Risk Factors.&#8221;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Issuance of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If you purchase shares of Common Stock through the Rights Offering, we will issue those shares to you in book-entry, or uncertificated, form as soon as practicable after the completion of the Rights Offering. Stock certificates will not be issued for shares of our Common Stock purchased in the Rights Offering.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Listing of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our Common Stock is listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221; and the shares to be issued in connection with the Rights Offering will also be listed on the NASDAQ Capital Market under the same symbol.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Federal Income Tax Consequences</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The receipt and exercise of Subscription Rights pursuant to the Subscription Privilege will generally not be taxable for U.S. federal income tax purposes. You should, however, seek specific tax advice from your tax advisor in light of your particular circumstances and as to the applicability and effect of any other tax laws. See &#8220;Certain Material U.S. Federal Income Tax Consequences.&#8221; </FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subscription and Information Agent</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Broadridge Corporate Issuer Solutions, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Questions</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If you have any questions about the Rights Offering, including questions about subscription procedures and requests for additional copies of this Prospectus or other Rights Offering documents, please contact Broadridge Corporate Issuer Solutions, Inc. at (855) 793-5068.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fees and Expenses</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will pay the fees and expenses related to the Rights Offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Risk Factors</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Before you invest in the Rights Offering, you should be aware that there are risks associated with your investment, including the risks described in the section entitled &#8220;Risk Factors&#8221; beginning on page 15 of this Prospectus. You should carefully read and consider these risk factors together with all of the other information included in or incorporated by reference into this Prospectus before you decide to exercise your Subscription Rights to purchase shares of our Common Stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><A NAME="eolPage16"></A><A NAME="FIS_UNIDENTIFIED_TABLE_4"></A><A NAME="eolPage17"></A><A NAME="FIS_UNIDENTIFIED_TABLE_5"></A><A NAME="eolPage18"></A><A NAME="FIS_RISK_FACTORS"></A>&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>An investment in our securities involves
a high degree of risk. You should carefully consider the risks, uncertainties and other information described below, together with
the risks, uncertainties and other information contained or incorporated by reference into this Prospectus, including but not limited
to the sections entitled &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition
and Results of Operation&#8221; in our Annual Report on Form 10-K for the year ended June 30, 2013 and our Quarterly Report on
Form&nbsp;10-Q for the quarter ended September 30, 2013, as well as the risks, uncertainties and other information described in
our other filings with the Securities and Exchange Commission (including but not limited to any subsequently filed Quarterly Reports
on Form&nbsp;10-Q), pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act, before making a decision to invest
in our Common Stock.</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The risks described below and in
the documents referred to in the preceding paragraph are not the only risks we face. Additional risks and uncertainties not currently
known to us or that we currently deem to be immaterial may also materially and adversely affect our business operations. If any
of the following risks actually occurs, our business, results of operations and financial condition could suffer. In that case,
the trading price of our Common Stock could decline, and you may lose all or part of your investment.</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks Related to the Rights Offering</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Subscription Price determined
for this Rights Offering is not necessarily an indication of the value of our Common Stock.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Price is equal to [&#9679;]% of the closing price of our Common Stock, as reported by the NASDAQ Capital Market, on [&#9679;],
201[&#9679;] (which was the latest practicable date on which the Subscription Price could be established prior to the launch of
the Rights Offering). The Subscription Price is not necessarily related to our book value, results of operations, cash flows, financial
condition or the future market value of our Common Stock. We cannot assure you that you will be able to sell shares purchased in
this Rights Offering at a price equal to or greater than the Subscription Price. We do not intend to change the Subscription Price
in response to changes in the trading price of our Common Stock prior to the closing of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Rights Offering may cause
the price of our Common Stock to decline.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Depending upon the
trading price of our Common Stock at the time of our announcement of the Rights Offering, the announcement of the Rights Offering
and its terms, including the Subscription Price, together with the number of shares of Common Stock we will issue if the Rights
Offering and transactions contemplated by the Standby Purchase Agreement are completed, may result in a decrease in the trading
price of our Common Stock. This decrease may continue after the completion of the Rights Offering. If that occurs, your purchase
of shares of our Common Stock in the Rights Offering may be at a price greater than the prevailing trading price.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Because you may not revoke or
change your exercise of the Subscription Rights, you could be committed to buying shares above the prevailing trading price at
the time the Rights Offering is completed.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Once you exercise
your Subscription Rights, you may not revoke or change the exercise. The trading price of our Common Stock may decline before the
Subscription Rights expire. If you exercise your Subscription Rights, and, afterwards, the trading price of our Common Stock decreases
below the Subscription Price, you will have committed to buying shares of our Common Stock at a price above the prevailing trading
price and could have an immediate unrealized loss.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Common Stock
is traded on the NASDAQ Capital Market under the symbol, &#8220;PDEX&#8221; and the closing sale price of our Common Stock on the
NASDAQ Capital Market on December 16, 2013 was $2.49 per share. There can be no assurances that the trading price of our Common Stock will equal or exceed the Subscription Price at
the time of exercise or at the expiration of the Subscription Rights offering period.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Two of our directors hold voting power with respect
to a substantial portion of our outstanding Common Stock, which enables them to have significant influence over the outcome of
all matters submitted to our shareholders for approval and which influence may be alleged to conflict with our interests and the
interests of our other shareholders. These two directors also control the Standby Purchasers and, as a result, their voting power
is anticipated to increase as a result of the Rights Offering and the transactions contemplated by the Standby Purchase Agreement.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of December 16, 2013, two of our directors, Nicholas J. Swenson and Raymond E. Cabillot, controlled voting power over approximately
32.2% (21.6% and 10.6%, respectively) of the outstanding shares of our Common Stock. In addition, as a result of these directors&#8217; control of the
Standby Purchasers (as described elsewhere in this Prospectus), unless all of our shareholders fully exercise all of the Subscription
Rights, the voting control of these directors will increase as a result of the Rights Offering and the transactions</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">contemplated by the Standby Purchase Agreement. (See &#8220;How
many shares of Common Stock will the Standby Purchasers own after the Rights Offering?&#8221; on page 6 of this Prospectus). As a result of such voting control, these directors will have significant influence over all matters submitted
to our shareholders for approval, including the election of our directors and other corporate actions, which may be alleged to
conflict with our interests and the interests of our other shareholders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><I><A NAME="eolPage19"></A>You
may not be able to resell any shares of our Common Stock that you purchase pursuant to the exercise of Subscription Rights immediately
upon expiration of the Subscription Rights offering period or be able to sell your shares at a price equal to or greater than the
Subscription Price.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you exercise
Subscription Rights, you may not be able to resell our Common Stock purchased by exercising your Subscription Rights until you,
or your broker, custodian bank or other nominee, if applicable, have received those shares. Moreover, you will have no rights as
a shareholder of the shares you purchased in the Rights Offering until we issue the shares to you. Although we will endeavor to
issue the shares as soon as practicable after completion of the Rights Offering, including the guaranteed delivery period and after
all necessary calculations have been completed, there may be a delay between the Expiration Date of the Rights Offering and the
time that the shares are issued. In addition, we cannot assure you that, following the exercise of your Subscription Rights, you
will be able to sell your Common Stock at a price equal to or greater than the Subscription Price.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If you do not exercise your Subscription
Rights, you will suffer dilution.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you do not exercise
your Subscription Rights, you will suffer dilution of your percentage ownership of our equity securities relative to shareholders
who exercise their Subscription Rights and/or the Standby Purchasers.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of December 16, 2013, there were 3,342,321 shares of our Common Stock outstanding.
We anticipate issuing a total of [&#9679;] shares of Common Stock in connection with the Rights Offering and the transactions contemplated
by the Standby Purchase Agreement.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Based on the number
of shares of Common Stock outstanding as of December 16, 2013 and assuming
that no options are exercised and there are no other changes in the number of outstanding shares prior to the expiration of the
Rights Offering, if we issue all [&#9679;] shares of Common Stock available in this Rights Offering (to shareholders participating
in the Rights Offering and/or the Standby Purchasers), we would have [&#9679;] shares of Common Stock outstanding following the
completion of the Rights Offering and the transactions contemplated by the Standby Purchase Agreement.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may cancel the Rights Offering
at any time prior to the expiration of the Rights Offering period, and neither we nor the Subscription Agent will have any obligation
to you except to return your subscription payment.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We may at our sole
discretion cancel the Rights Offering at any time prior to the expiration of the Rights Offering period. If we elect to cancel
the Rights Offering, neither we nor the Subscription Agent will have any obligation with respect to the Subscription Rights except
to return to you, without interest or penalty, as soon as practicable any subscription payments.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If you do not act promptly and
follow the subscription instructions, your exercise of Subscription Rights will be rejected.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Shareholders that
desire to purchase shares in the Rights Offering must act promptly to ensure that all required forms and payments are actually
received by the Subscription Agent prior to 5:00&nbsp;p.m., New York City time, on the Expiration Date of the Rights Offering.
If you are a beneficial owner of shares, you must act promptly to ensure that your broker, dealer, custodian bank or other nominee
acts for you and that all required forms and payments are actually received by the Subscription Agent prior to the expiration of
the Rights Offering period. We are not responsible if your broker, dealer, custodian bank or nominee fails to ensure that all required
forms and payments are actually received by the Subscription Agent prior to the expiration of the Rights Offering period. If you
fail to complete and sign the required subscription forms, send an incorrect payment amount or otherwise fail to follow the subscription
procedures that apply to your exercise in the Rights Offering prior to the expiration of the Rights Offering period, the Subscription
Agent may, depending on the circumstances, reject your subscription or accept it only to the extent of the payment received. Neither
we nor the Subscription Agent undertakes to contact you concerning, or attempt to correct, an incomplete or incorrect subscription
form. We have the sole discretion to determine whether the exercise of your Subscription Rights properly and timely follows the
subscription procedures.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><I><A NAME="eolPage20"></A>If
you make payment of the Subscription Price by uncertified personal check, your check may not clear in sufficient time to enable
you to purchase shares in the Rights Offering.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Any uncertified
personal check used to pay the Subscription Price in the Rights Offering must clear prior to 5:00&nbsp;p.m., New York City time,
on the Expiration Date of the Rights Offering, and the clearing process may require five or more business days. As a result, if
you choose to use an uncertified personal check to pay the Subscription Price, it may not clear prior to 5:00&nbsp;p.m., New York</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">City time, on the Expiration Date, in
which event you would not be eligible to exercise your Subscription Rights. You may eliminate this risk by paying the Subscription
Price by certified or cashier&#8217;s check or bank draft drawn on a U.S. bank.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Subscription Rights are non-transferable
and thus there will be no market for them.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You may not sell,
transfer or assign your Subscription Rights to anyone else. We do not intend to list the Subscription Rights on any securities
exchange or any other trading market. Because the Subscription Rights are non-transferable, there is no market or other means for
you to directly realize any value associated with the Subscription Rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Risks Relating to Ownership of Our Common Stock</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our stock price has been volatile
and may continue to be volatile; Dividend Policy.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The trading price
of our Common Stock has been, and is likely to continue to be, highly volatile, in large part attributable to developments and
circumstances related to factors identified in &#8220;Forward-looking Statements&#8221; and &#8220;Risk Factors&#8221; set forth
herein and in our Annual Report on Form 10-K for the year ended June 30, 2013 and our Quarterly Report on Form&nbsp;10-Q for the
quarter ended September 30, 2013, and any risks described in our other filings with the Securities and Exchange Commission (including
but not limited to subsequently filed Quarterly Reports on Form 10-Q), pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of
the Exchange Act, as well as the market&#8217;s response to our operations and financial condition. The market value of your investment
in our Common Stock may rise or fall sharply at any time because of this volatility, and also because of significant short positions
that may be taken by investors from time to time in our stock. During the fiscal year ended June 30, 2013, the closing sale price
for our Common Stock on the NASDAQ Capital Market ranged from $1.52 to $2.37 per share. The market prices for securities of medical
device and motion control companies, such as Pro-Dex, historically have been highly volatile, and the market has experienced significant
price and volume fluctuations that are unrelated to the operating performance of particular companies. Further, we do not intend
to pay any cash dividends on our Common Stock in the foreseeable future.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may require additional capital
in the future and you may incur dilution to your stock holdings.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have historically
relied upon our existing cash balance and cash flows from operating activities to fund our operations. We have incurred operating
losses in the fiscal years ended June 30, 2012 and 2013, and there is no assurance that we will be able to achieve profitable operations
and positive cash flows in the foreseeable future or at all. If capital requirements vary materially from those currently planned,
we may require additional capital sooner than expected. There can be no assurance that such capital will be available
in sufficient amounts or on terms acceptable to us, if at all. Further, any sale of a substantial number of additional
shares will cause dilution to an investment in our Common Stock and could also cause the market price of our Common Stock to decline.
We have the authority to issue up to 50,000,000 shares of Common Stock (of which, as of December 16, 2013, 3,342,321 shares were outstanding), to issue options and warrants
to purchase shares of our Common Stock (of which, as of December 16, 2013,
options to acquire 194,169 shares of our Common Stock were outstanding and no warrants
were outstanding) and to designate and issue up to 10,000,000 shares of preferred stock, of which 78,129 have been designated as
Series A Convertible Preferred Stock (of which, as of December 16, 2013, no
shares were outstanding). Issuances of additional shares of our stock in the future could dilute existing shareholders and may
adversely affect the market price of our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The failure to maintain the market
price of our Common Stock may affect our ability to remain listed on the NASDAQ exchange.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The minimum bid
price for our publicly traded Common Stock was below $1.00 for a significant period of time throughout 2008, 2009 and 2010, ultimately
resulting in us effecting a one-for-three reverse split of our Common Stock on June 17, 2010 to increase our stock price to satisfy
the $1.00 minimum bid price listing requirement of the Nasdaq Capital Market. Notwithstanding the increased price of our Common
Stock that resulted from the reverse split, our future performance, general market conditions and other factors could result in
us failing to satisfy the listing standards of the Nasdaq Capital Market in the future. If our Common Stock were to be delisted
from the Nasdaq Capital Market, our shareholders may find it difficult to either dispose, or obtain quotations for the price, of
our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage21"></A>Risks
Relating to Our Business</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A substantial portion of our revenue
is derived from a single customer such that if we were to lose that customer, it would have a material adverse effect on our business,
financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In fiscal year 2013,
our top 20 customers accounted for 81% of our sales, with our largest customer accounting for 47% of our sales. The loss of our
largest customer, or the loss of any other significant customer, would severely impact us, including having a material adverse
effect on our business, financial condition, cash flows, revenue and results of operations.</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our failure to manage contracting
sales levels could harm us by having a material adverse effect on our business and results of operations.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Over the past two
fiscal years our total sales have contracted from $27.1 million in 2011 to $12.2 million in 2013. We continue to implement the
steps of a strategic plan, the objectives of which are to identify and capture additional revenue opportunities and concurrently
reduce operating costs not critical to revenue growth. There can be no assurance, however, as to either the timing or success of
achieving these objectives, which, during any period not achieved, may cause us to experience a prolonged material and adverse
impact on our business.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Even if we are successful
in identifying and capturing additional revenue opportunities, we may be required to expand our overall production, development,
marketing, sales, management and training capacity. In the event we are unable to identify, hire, train and retain qualified individuals
in such capacities within a reasonable timeframe, such failure could have a material adverse effect on us.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We terminated our bank credit
facility agreements in September 2012. An inability to achieve anticipated cash flows from operations over the next twelve months
could have a material adverse effect on our liquidity and could require additional financing, which may not be available on acceptable
terms or at all.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">At June 30, 2012,
we were in violation of profitability-based covenants related to our then-existing bank credit facility, for which the bank had
the right to declare us in default of the bank credit facility agreements and the entire amount owing under the facility, consisting
of a term loan, to become immediately due and payable. We historically had not made any borrowings against our bank lines of credit,
and believed that existing cash balances and cash flows from operations would be sufficient to fund operations for the next twelve
months and to fully repay the term loan. Accordingly, on August 30, 2012, we notified the bank of our intent to terminate the credit
facility agreements and repay the term loan in full, which amounted to $685,000 at the time of its repayment in September 2012.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">An inability to
achieve anticipated cash flows from operations could have a material adverse effect on our ability to fund operations for the next
twelve months and require us to obtain new financing. However, there is no assurance that such financing will be available on acceptable
terms, if at all.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A substantial portion of our business
is derived from our two core business areas that, if not serviced properly, may result in a material adverse impact upon our business,
results of operations and financial condition.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In fiscal year 2013,
we derived more than 78% of our revenue from sales of our medical device and motion control products and related services. We believe
that a primary factor in the market acceptance of our products and services is the value that is created for our customers by those
products and related services. Our future financial performance will depend in large part on our ability to continue to meet the
increasingly sophisticated needs of our customers through the timely development, successful introduction and implementation of
new and enhanced products and services, while at the same time continuing to provide the value our customers have come to expect
from us. We have historically expended a significant percentage of our revenue on product development and believe that significant
continued product development efforts will be required to sustain our growth. Continued investment in our sales and marketing efforts
will also be required to support future growth.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">There can be no
assurance that we will be successful in our product development efforts, that the market will continue to accept our existing products,
or that new products or product enhancements will be developed and implemented in a timely manner, meet the requirements of our
customers, or achieve market acceptance. If new products or product enhancements do not achieve market acceptance, our business,
results of operations and financial condition could be materially adversely affected.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We face significant competition
from a number of different sources, which could negatively impact our results of operations and business conditions.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The markets for
products in the industries served by our customers are intensely competitive, and we face significant competition from a number
of different sources. Several of our competitors have significantly greater name recognition, as well as substantially greater
financial, technical, product development and marketing resources, than us.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We compete in all
of our markets with other major surgical device and motion control related companies. As a provider of outsourced products and
services, we also compete with our customers&#8217; own internal development groups. Competitive pressures and other factors, such
as new product or new technology introductions by us, our customers&#8217; internal development and manufacturing departments,
or our competitors may result in price or market share erosion that could have a material adverse effect on our business,</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">results of operations and financial
condition. Also, there can be no assurance that our products and services will achieve broad market acceptance or will successfully
compete with other products.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The industry in which we operate
is subject to significant technological change and any failure or delay in addressing such change could adversely affect our competitive
position or could make our current products obsolete.</I></B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The medical device
and motion control markets are generally characterized by rapid technological change, changing customer needs, frequent new product
introductions, and evolving industry standards. The introduction of products incorporating new technologies and the emergence of
new industry standards could render our existing products obsolete and unmarketable. There can be no assurance that we will be
successful in developing and marketing new products that respond to technological changes or evolving industry standards.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">New product development
requires significant research and development expenditures that we have historically funded through operations; however we may
be unable to do so in the future and we have no credit facility with which to fund such expenditures. Any significant decrease
in revenues or research funding could impair our ability to respond to technological advances in the marketplace and to remain
competitive. If we are unable, for technological or other reasons, to develop and introduce new products in a timely manner in
response to changing market conditions or customer requirements, our business, results of operations and financial condition may
be materially adversely affected. Although we target new markets for access, develop new products and update existing products,
there can be no assurance that we will do so successfully or that even if we are successful, such efforts will be completed concurrently
with or prior to the introduction of competing products. Any such failure or delay could adversely affect our competitive position
or could make our current products obsolete.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A conflict of interest exists
with respect to certain investments approved by our Investment Committee.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In April 2013, our
Board approved a Surplus Capital Investment Policy (the &#8220;Policy&#8221;) that provides, among other items, for the following:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">(a)&#9;Determination by our
Board of Directors of (i) our surplus capital balance and (ii) the portion of such surplus capital balance to be invested according
to the Policy;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Selection of an Investment Committee responsible for implementing the Policy; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Objectives and criteria under which investments may be made.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The current composition
of the Investment Committee is: Messrs. Swenson (Chair) and Cabillot, both of whom are members of our Board of Directors and professional
investment fund managers, and Mr. Hurwitz, our Chief Executive Officer and Chief Financial Officer. The Investment Committee has
approved making investments in the common stocks of certain companies in which funds managed by Mr. Swenson and/or Mr. Cabillot
currently hold common stock investments, and may approve making additional such investments in the future. In such situations,
a potential conflict of interest exists, or will exist, in that Messrs. Swenson&#8217;s or Cabillot&#8217;s interests may not be
independent of Investment Committee decisions.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our investments are concentrated
in stocks whose fair values are subject to a loss in value and which may not easily be sold.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our current investments
under the Policy are concentrated in common stocks of OTC companies. A significant decline in the value of our investments may
produce a large decrease in our consolidated shareholders&#8217; equity and can have a material adverse effect on our consolidated
book value per share. Under certain circumstances, significant declines in the fair value of these investments may require the
recognition of losses in the statement of operations and other comprehensive income. In addition, such stocks do not consistently
trade on a daily basis, which could adversely affect our ability to sell them on a timely basis or at an acceptable value.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our quarterly results can fluctuate
significantly from quarter to quarter, which may negatively impact the price of our shares and/or cause significant variances in
the prices at which our shares trade.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our sales have fluctuated
in the past, and may fluctuate in the future from quarter to quarter and period to period, as a result of a number of factors including,
without limitation: the size and timing of orders from customers; the length of new product development cycles; market acceptance
of new technologies; changes in pricing policies or price reductions by us or our competitors; the timing of new product announcements
and product introductions by us or our competitors; the financial stability of major customers; our success in expanding our sales
and marketing programs; acceleration, deferral, or cancellation of customer orders and deliveries; changes in our strategy; revenue
recognition policies in conformity with accounting principles generally accepted in the United States (&#8220;GAAP&#8221;); personnel
changes; and general market and economic factors.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Because a significant
percentage of our expenses are relatively fixed, a variation in the timing of sales can cause significant fluctuations in operating
results from quarter to quarter. As a result, we believe that interim period-to-period comparisons of our results of operations
are not necessarily meaningful and should not be relied upon as indications of future performance. Further, our historical operating
results are not necessarily indicative of future performance for any particular period.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In addition, it
is possible that our operating results in future quarters may be below the expectations of public market analysts and investors.
In such an event, the price of our Common Stock could be materially adversely affected.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our operations are subject to
a number of complex government regulations, the violation of which could have a material adverse effect on our business.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The manufacture
and distribution of medical and dental devices are subject to state and federal requirements set forth by various agencies including
the FDA and EPA. The statutes, regulations, administrative orders, and advisories that affect our businesses are complex and subject
to diverse, often conflicting, interpretations. While we make every effort to maintain full compliance with all applicable laws
and regulations, we are unable to eliminate an ongoing risk that one or more of our activities may at some point be determined
to have been non-compliant. The penalties for non-compliance could range from an administrative warning to termination of a portion
of our business. Furthermore, even if we are subsequently determined to have fully complied with applicable laws or regulations,
the costs to achieve such a determination and the intervening loss of business could adversely affect or result in the cessation
of a portion of our business. A change in such laws or regulations at any time may have an adverse effect on our operations. Notwithstanding
the risks inherent in our business, management believes that our operations are in compliance with applicable laws and regulations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The FDA regulates
all medical devices into one of three classes (Class I, II or III) based on the level of control necessary to assure the safety
and effectiveness of the device. The surgical instrumentation we manufacture is generally classified into Class I, and our dental
instrumentation is generally classified into Class II. The FDA has broad enforcement powers to recall and prohibit the sale of
products that do not comply with federal regulations, and to order the cessation of non-compliant processes. No claim has been
made to date by the FDA regarding any of our products or processes. Nevertheless, as is common in the industry, certain of our
products and processes are from time to time subject to routine governmental reviews and investigations. While management believes
that our products and processes fully comply with applicable laws and regulations, we are unable to predict the outcome of any
such future review or investigation.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We believe that
our business is conducted in a manner consistent with EPA and other agency regulations governing disposition of industrial waste
materials. In February 2011, we became aware of a report entitled &#8220;Site Discovery Report, Southeast Santa Ana Project DTSC
&#8211; Cypress Region,&#8221; dated February 2010 (the &#8220;Report&#8221;), that was prepared by the Cypress, California regional
office of the Cal/EPA Department of Toxic Substances Control (&#8220;DTSC&#8221;) for Region 9 of the EPA under an agreement between
the two agencies. The purpose of the Report was to identify sites within an area of southeast Santa Ana, California that may be
sources of groundwater contamination previously detected in that area. The Report identified 25 sites, including our former Santa
Ana site, for further screening by DTSC staff over the next two years. DTSC has informed us that no further evaluation of our former
site took place during fiscal years 2011 through 2013. It is uncertain whether future developments, if any, from DTSC&#8217;s screening
process would have any application to our former site and, if so, what exposure we might face concerning any findings that might
be made concerning the site. In addition, we are unable to predict the outcome of any investigation or review that might be undertaken
in the future with respect to our disposition of industrial waste materials.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If any of our products,
processes or other operations were to be found in violation of government regulations, it could expose us to claims, liabilities
and remedial obligations that could have a material adverse effect on our business.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We face significant uncertainty
in the industry due to government healthcare reform.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Political, economic
and regulatory influences are subjecting the healthcare industry to fundamental changes. The Patient Protection and Affordable
Care Act (the &#8220;Healthcare Act&#8221;) enacted sweeping reforms to the U.S. healthcare industry, including mandatory health
insurance, reforms to Medicare and Medicaid, the creation of large insurance purchasing groups, new taxes on medical equipment
manufacturers that will apply to certain of our products and other significant modifications to the healthcare delivery system.
Due to uncertainties regarding the ultimate features of the new federal legislation and its implementation, we cannot predict what
impact the Healthcare Act may have on us, our customers or our industry.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We rely heavily on our proprietary
technology, which, if not properly protected or if deemed invalid, could have a material adverse effect on our business, results
of operations and financial condition.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are dependent
on the maintenance and protection of our proprietary technology and rely on patent filings, exclusive development and supply agreements,
confidentiality procedures, and employee nondisclosure agreements to protect it. There can be no assurance that the legal protections
and precautions taken by us will be adequate to prevent misappropriation of our technology or that competitors will not independently
develop technologies equivalent or superior to ours. Further, the laws of some foreign countries do not protect our proprietary
rights to as great an extent as do the laws of the United States and are often not enforced as vigorously as those in the United
States.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We do not believe
that our operations or products infringe on the intellectual property rights of others. However, there can be no assurance that
others will not assert infringement or trade secret claims against us with respect to our current or future products. Assertions
or claims by others, whether or not valid, could cause us to incur significant legal costs defending our intellectual property
rights and potentially require us to enter into a license agreement or royalty arrangement with the party asserting the claim or
to cease our use of the infringing technology, any of which could have a material adverse effect on our business, results of operations
and financial condition.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The global economic environment
may impact our business, operating results or financial&nbsp;condition.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Changes in the global
economic environment have caused, and may cause in the future, a general tightening in the credit markets, lower levels of liquidity,
increases in rates of default and bankruptcy, and extreme volatility in credit, equity and fixed income markets. These macroeconomic
developments could negatively affect our business, operating results or financial condition should they cause, for example, current
or potential customers to become unable to fund&nbsp;purchases of our products, in turn resulting in delays, decreases or cancellations
of purchases of our products and services, or causing the customer to not pay us or to delay paying us for previously purchased
products and services. In addition, financial institution failures may cause us to incur increased expenses or make it more difficult
either to obtain financing for our operations, investing activities (including the financing of any future acquisitions), or financing
activities. Additional economic risks and uncertainties not currently known to us or that we currently deem to be immaterial also
may materially and adversely affect our business, financial condition or operating results.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We face risks and uncertainties
associated with potential litigation by or against us, which could have a material adverse effect on our business, results of operations
and financial condition.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We continually face
the possibility of litigation as either a plaintiff or a defendant. It is not reasonably possible to estimate the awards or damages,
or the range of awards or damages, if any, that we might incur in connection with such litigation.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Many of our products
are complex and technologically advanced.&nbsp;Such products may, from time to time, be the subject of claims concerning product
performance and construction, including warranty claims. While we are committed to correcting such problems as soon as possible,
there is no assurance that solutions will be found on a timely basis, if at all, to satisfy customer demands or to avoid potential
claims or litigation. Also, due to the location of our facilities, as well as the nature of our business activities, there is a
risk that we could be subject to litigation related to environmental remediation claims. We maintain insurance to protect against
claims associated with the use of our products, but there can be no assurance that our insurance coverage will adequately cover
any claim asserted against us.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The uncertainty
associated with potential litigation may have an adverse impact on our business. In particular, litigation could impair our relationships
with existing customers and our ability to obtain new customers. Defending or prosecuting litigation could result in significant
legal costs and a diversion of management&#8217;s time and attention away from business operations, either of which could have
a material adverse effect on our business, results of operations and financial condition. There can be no assurance that litigation
would not result in liability in excess of our insurance coverage, that our insurance will cover such claims or that appropriate
insurance will continue to be available to us in the future at commercially reasonable rates.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our operations are dependent upon
our key personnel. If such personnel were to leave unexpectedly, we may not be able to execute our business plan.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our future performance
depends in significant part upon the continued service of our key technical and senior management personnel. Because we have a
relatively small number of employees when compared to other leading companies in the same industry, our dependence on maintaining
our relationship with key employees is particularly significant. We are also dependent on our ability to attract and retain high
quality personnel, particularly in the areas of product development, operations management, marketing and finance.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A high level of
employee mobility and the aggressive recruiting of skilled personnel characterize the medical device and motion control industries.
There can be no assurance that our current employees will continue to work for us. Loss of services of key employees could have
a material adverse effect on our business, results of operations and financial condition.</P>


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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are subject to changes in and
interpretations of financial accounting matters that govern the measurement of our performance, compliance with which could be
costly and time consuming.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are subject to
changes in and interpretations of financial accounting matters that govern the measurement of our performance. Based on our reading
and interpretations of relevant guidance, principles or concepts issued by, among other authorities, the Financial Accounting Standards
Board, the SEC and the American Institute of Certified Public Accountants, management believes our performance, including current
sales contract terms and business arrangements, has been properly reported. However, there continue to be issued interpretations
and guidance for applying the relevant standards to a wide range of contract terms and business arrangements that are prevalent
in the industries in which we operate. Future interpretations or changes by the regulators of existing accounting standards or
changes in our business practices may result in future changes in our accounting policies and practices that could have a material
adverse effect on our business, financial condition, cash flows, revenue and results of operations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our evaluation of internal controls
and remediation of potential problems is costly and time consuming and could expose weaknesses in financial reporting.</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Section 404 of the
Sarbanes-Oxley Act of 2002, as amended, requires management&#8217;s assessment of the effectiveness of the Company&#8217;s internal
control over financial reporting. This process is expensive and time consuming, and requires significant attention of management.
Management can give no assurance that material weaknesses in internal controls will not be discovered. If a material weakness is
discovered, corrective action may be time consuming and costly, and could further divert the attention of management. The disclosure
of a material weakness, even if quickly remedied, could reduce the market&#8217;s confidence in our financial statements and harm
our stock price, especially if a restatement of financial statements for past periods is required.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><A NAME="eolPage25"></A>
<B>INFORMATION ABOUT THE COMPANY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Pro-Dex, Inc.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pro-Dex is a corporation
organized under the laws of the State of Colorado. With operations in Irvine, California and Beaverton, Oregon, the Company designs
and produces powered surgical and dental instruments and motion control products used in the medical, factory automation and scientific
research industries. The Company currently conducts no other significant business activities.&nbsp; Our website address is www.pro-dex.com.
None of the information contained on, or that may be accessed through, our website is a prospectus or constitutes part of, or is
otherwise incorporated into, this Prospectus.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our principal executive
offices are located at 2361 McGaw Avenue, Irvine, California 92614, and our telephone number is (949) 769-3200.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of September 30, 2013, the Company
had:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">total assets of $10,453,000;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">total liabilities of $2,229,000; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">total shareholders&#8217; equity of $8,224,000.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage26"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_THE_OFFERING"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE RIGHTS OFFERING</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following describes
the Rights Offering in general and assumes, unless specifically provided otherwise, that you are a record holder of our Common
Stock as of 5:00&nbsp;p.m., New York City time, on the Record Date. If you hold your shares in a brokerage account or through a
dealer or other nominee, please also refer to &#8220;&#8212;Notice to Brokers and Nominees&#8221; below.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Subscription Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are distributing
to holders of our Common Stock as of 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;], which is the Record Date for
this Rights Offering, at no charge, non-transferable Subscription Rights to purchase shares of our Common Stock.&nbsp;&nbsp;For
each share of Common Stock held of record as of 5:00&nbsp;p.m., New York City time, on the Record Date, you will receive [&#9679;]
of a Subscription Right.&nbsp;&nbsp;Each whole Subscription Right will entitle you to purchase one share of our Common Stock at
a Subscription Price equal to $[&#9679;] per share of Common Stock. Subscription Rights may only be exercised in whole numbers;
we will not issue fractional shares of Common Stock upon exercise of Subscription Rights and, to the extent that the number of
Subscription Rights that you are entitled to receive is not a whole number, the shares of Common Stock issuable upon exercise of
the Subscription Rights will be rounded down to the nearest whole share for purposes of determining the number of shares of Common
Stock for which you may subscribe.&nbsp;&nbsp;Any excess subscription funds will be returned, without interest or penalty, as soon
as practicable after the expiration of the Rights Offering period.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Subscription Privilege</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Each whole Subscription
Right that you own will entitle you to purchase one share of our Common Stock at the Subscription Price.&nbsp;&nbsp;You may exercise
your Subscription Privilege for some or all of your Subscription Rights, or you may choose not to exercise any Subscription Rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For example, if
you owned 1,000 shares of our Common Stock as of 5:00&nbsp;p.m., New York City time, on the Record Date, you would receive [&#9679;]
Subscription Rights and would have the right to purchase [&#9679;] shares of Common Stock for $[&#9679;] per share (or $[&#9679;]
in the aggregate) by exercising your Subscription Privilege in full.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage27"></A>Limitation
on Exercise of Subscription Privilege</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event that
the exercise by a shareholder of the Subscription Privilege or the purchase of Common Stock under the Standby Purchase Agreement
could, as determined by the Company in its sole discretion, potentially result in a limitation on the Company&#8217;s ability to
use Tax Attributes under the Code and rules promulgated by the Internal Revenue Service, the Company may, but is under no obligation
to, reduce the exercise by such shareholder of the Subscription Privilege or the amount purchased under the Standby Purchase Agreement
to such number of shares of Common Stock as the Company in its sole discretion shall determine to be advisable in order to preserve
the Company&#8217;s ability to use the Tax Attributes.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>No Fractional Shares Issuable Upon
Exercise of Subscription Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Subscription Rights
may only be exercised in whole numbers; we will not issue fractional shares of Common Stock upon exercise of Subscription Rights
and, to the extent that the number of Subscription Rights that you are entitled to receive is not a whole number, the shares of
Common Stock issuable upon exercise of the Subscription Rights will be rounded down to the nearest whole share for purposes of
determining the number of shares of Common Stock for which you may subscribe.&nbsp;&nbsp;Any excess subscription funds will be
returned, without interest or penalty, as soon as practicable after the expiration of the Rights Offering period.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Subscription Price</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Price per share of Common Stock will be $[&#9679;]. The Subscription Price is equal to [&#9679;]% of the closing price of our Common
Stock, as reported by the NASDAQ Capital Market, on [&#9679;], 201[&#9679;] (which was the latest practicable date on which the
Subscription Price could be established prior to the launch of the Rights Offering). The Subscription Price is not necessarily
related to our book value, results of operations, cash flows, financial condition or the future market value of our Common Stock.
We cannot assure you that you will be able to sell shares purchased in this Rights Offering at a price equal to or greater than
the Subscription Price. We do not intend to change the Subscription Price in response to changes in the trading price of our Common
Stock prior to the closing of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Standby Commitment</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 17, 2013, we entered into a Standby Purchase Agreement with AO Partners and Farnam
Street Capital as the Standby Purchasers. Pursuant to the Standby Purchase Agreement, the Standby Purchasers have agreed to purchase,
at the Subscription Price, in a private transaction separate from the Rights Offering, any and all Unsubscribed Shares (subject
to reduction as a result of Tax Attribute Considerations). Pursuant to the terms of the Standby Purchase Agreement, the Unsubscribed
Shares will be allocated 50% to AO Partners and 50% to Farnam Street Capital. Nicholas J. Swenson, a director of the Company, is
the Managing Member of AO Partners and, in such capacity, has the power to direct the affairs of AO Partners. Raymond E. Cabillot,
a director of the Company, is Chief Executive Officer and a director of Farnam Street Capital and, in such capacity, has the power
to direct the affairs of Farnam Street Capital.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><A NAME="eolPage28"></A>Any
purchases by the Standby Purchasers pursuant to the Standby Purchase Agreement will be made for investment purposes and not with
a view toward resale. The number of shares of Common Stock that will be purchased by the Standby Purchasers can only be determined
upon the completion of the Rights Offering. The Standby Purchasers will purchase all shares of Common Stock that could have been
but were not subscribed for in the Rights Offering (subject to reduction as a result of Tax Attribute Considerations). If the Rights
Offering is fully subscribed by shareholders through the exercise in full of their Subscription Privileges, the Standby Purchasers
or their affiliates will purchase shares of Common Stock pursuant to the exercise of their respective Subscription Privileges,
but will not purchase any additional shares of Common Stock pursuant to the Standby Purchase Agreement.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If, on the other
hand, no shareholders were to purchase any shares of Common Stock through the exercise of their Subscription Privileges (and assuming
that the Tax Attribute Considerations do not result in a lesser number of shares of Common Stock being issued to the Standby Purchasers),
all of the shares offered pursuant to the Rights Offering would be issued and sold to the Standby Purchasers. In that event, [&#9679;]
shares of Common Stock would be issued to the Standby Purchasers &#8211; with [&#9679;] shares to be purchased by AO Partners and
[&#9679;] shares to be purchased by Farnam Street Capital. As a result, assuming that all shares offered pursuant to the Rights
Offering are issued and sold to the Standby Purchasers, Nicholas J. Swenson, a director of the Company, would control (either directly
or indirectly through AO Partners or other entities controlled by Mr. Swenson) approximately [&#9679;] shares, or [&#9679;]%, of
the Company&#8217;s outstanding Common Stock, and Raymond E. Cabillot, a director of the Company, would control (either directly
or indirectly through Farnam Street Capital or other entities controlled by Mr. Cabillot) approximately [&#9679;] shares, or [&#9679;]%,
of the Company&#8217;s outstanding Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">No fees or other
consideration will be paid by the Company to the Standby Purchasers in exchange for their commitment to purchase any and all Unsubscribed
Shares.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Expiration Time and Date; Closing</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights will expire at 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;]. You must properly complete the enclosed Subscription
Rights Certificate and deliver it, along with the full Subscription Price, to the Subscription Agent before 5:00&nbsp;p.m., New
York City time, on [&#9679;], 201[&#9679;]. After the expiration of the Rights Offering period, all unexercised Subscription Rights
will be null and void. We will not be obligated to honor any purported exercise of Subscription Rights that the Subscription Agent
receives after the expiration of the Rights Offering, regardless of when you sent the documents regarding that exercise, unless
you have used the guaranteed delivery procedures described under &#8220;The Rights Offering&#8212;Notice of Guaranteed Delivery.&#8221;
All shares purchased in the Rights Offering will be issued in book-entry, or uncertificated, form. Any subscription payments for
shares not allocated or validly purchased will be returned to you, without interest or penalty, as soon as practicable following
the Expiration Date of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A NAME="FIS_PROCEED_USE"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Reasons for the Rights Offering;
Use of Proceeds</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are conducting
the Rights Offering to raise equity capital and to provide our existing shareholders with the opportunity to purchase additional
shares of our Common Stock. We expect the proceeds from the Rights Offering and the transactions contemplated by the Standby Purchase
Agreement to be approximately $3,000,000 (before expenses and subject to reduction as a result of Tax Attribute Considerations).
We intend to use the net proceeds of the Rights Offering to pursue strategic opportunities that may present themselves from time
to time or, if not used to pursue strategic opportunities, for working capital and general corporate purposes, including to fund
our ongoing research and development and product initiatives. Also, to the extent net proceeds of the Rights Offering are not deployed,
some of the funds may be invested in accordance with the terms of our Surplus Capital Investment Policy.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Method of Exercising Subscription
Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The exercise of
Subscription Rights is irrevocable and may not be cancelled or modified. You may exercise your Subscription Rights as follows:</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Subscription by Registered Holders</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">To exercise your
Subscription Privilege, you must properly complete and execute the Subscription Rights Certificate, together with any required
signature guarantees, and forward it, together with payment in full of the Subscription Price for each share of our Common Stock
you are subscribing for, to the Subscription Agent at the address set forth under &#8220;The Rights Offering&#8212;Subscription
Agent&#8221; below, on or prior to 5:00&nbsp;p.m., New York City time, on the Expiration Date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage29"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Subscription by Beneficial Owners</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you are a beneficial
owner of shares of our Common Stock, meaning that you hold your shares in &#8220;street name&#8221; through a broker, custodian
bank or other nominee, we will ask your broker, custodian bank or other nominee to notify you of the Rights Offering. If you wish
to exercise your Subscription Rights, you will need to have your broker, custodian bank or other nominee act for you and exercise
your Subscription Rights and deliver all documents and payment on your behalf, including a &#8220;Nominee Holder Certification,&#8221;
prior to 5:00&nbsp;p.m., New York City time, on the Expiration Date. If you hold certificates of our Common Stock directly and
would prefer to have your broker, custodian bank or other nominee act for you, you should contact your nominee and request it to
effect the transactions for you.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">To indicate your
decision with respect to your Subscription Rights, you should complete and return to your broker, custodian bank or other nominee,
the form entitled &#8220;Beneficial Owner Election Form.&#8221; You should receive this form from your broker, custodian bank or
other nominee with the other Subscription Rights offering materials. If you wish to obtain a separate Subscription Rights Certificate,
you should contact the nominee as soon as possible and request that a separate Subscription Rights Certificate be issued to you.
You should contact your broker, custodian bank or other nominee if you do not receive this form, but you believe you are entitled
to participate in the Rights Offering. We are not responsible if you do not receive the form from your broker, custodian bank or
nominee or if you receive it without sufficient time to respond.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Your Subscription
Rights will not be considered exercised unless the Subscription Agent actually receives from you, your broker, custodian, bank
or other nominee, as the case may be, all of the required documents and your full Subscription Price payment prior to 5:00&nbsp;p.m.,
New York City time, on [&#9679;], 201[&#9679;], the scheduled Expiration Date of this Rights Offering.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Payment Method</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Your payment of
the Subscription Price must be made in U.S. dollars for the full number of shares of Common Stock you wish to acquire under the
Subscription Privilege. Your payment must be delivered in one of the following ways:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">uncertified check payable to &#8220;Broadridge Corporate Issuer Solutions, Inc. (acting as Subscription Agent for Pro-Dex, Inc.)&#8221;; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">certified or cashier&#8217;s check drawn upon a U.S. bank and payable to &#8220;Broadridge Corporate Issuer Solutions, Inc. (acting as Subscription Agent for Pro-Dex, Inc.).&#8221;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Your payment will
be considered received by the Subscription Agent only upon:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">clearance of any uncertified personal check deposited by the Subscription Agent; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">receipt by the Subscription Agent of any certified or cashier&#8217;s check drawn upon a U.S. bank.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Clearance of Uncertified Personal
Checks</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you are paying
by uncertified personal check, please note that payment will not be deemed to have been received by the Subscription Agent until
the check has cleared, which could take at least five or more business days. If you wish to pay the Subscription Price by uncertified
personal check, we urge you to make payment sufficiently in advance of the time the Rights Offering expires to ensure that your
payment is received by the Subscription Agent and clears by the Expiration Date. We urge you to consider using a certified or cashier&#8217;s
check drawn upon a U.S. bank.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage30"></A>Instructions
for Completing Your Subscription Rights Certificate</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You should read
the instruction letter accompanying the Subscription Rights Certificate carefully and strictly follow it. <B>Do not send Subscription
Rights Certificates or payments to us.</B> &nbsp;&nbsp;Except as described below under &#8220;The Rights Offering&#8212;Notice
of</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Guaranteed Delivery,&#8221; we will
not consider your subscription received until the Subscription Agent has received delivery of a properly completed and duly executed
Subscription Rights Certificate and payment of the full Subscription Price (and any payment by uncertified personal check has cleared).
The risk of delivery of all documents and payments is on you or your nominee, not us or the Subscription Agent.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The method of delivery
of Subscription Rights Certificates and payment of the subscription amount to the Subscription Agent will be at the risk of the
holders of Subscription Rights. If sent by mail, we recommend that you send those certificates and payments by overnight courier
or by registered mail, properly insured, with return receipt requested, and that a sufficient number of days be allowed to ensure
delivery to the Subscription Agent and clearance of payment before the expiration of the subscription period for the Rights Offering.
Because uncertified personal checks may take at least five or more business days to clear, we urge you to pay or arrange for payment
by means of certified or cashier&#8217;s check or bank draft to avoid missing the opportunity to exercise your Subscription Rights
should you decide to exercise your Subscription Rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Missing or Incomplete Subscription
Information</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you do not indicate
the number of Subscription Rights being exercised, or do not forward full payment of the total Subscription Price payment for the
number of Subscription Rights that you indicate are being exercised, then you will be deemed to have exercised your Subscription
Rights with respect to the maximum number of whole Subscription Rights that may be exercised with the aggregate Subscription Price
payment you delivered to the Subscription Agent. If we do not apply your full Subscription Price payment to your purchase of shares
of our Common Stock, the Subscription Agent will return the excess amount to you by mail, without interest or penalty, as soon
as practicable after the Expiration Date of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Conditions and Cancellation</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We reserve the right
to cancel the Rights Offering on or prior to the Expiration Date for any reason. Among other reasons, we may cancel the Rights
Offering if at any time before completion of the Rights Offering there is any judgment, order, decree, injunction, statute, law
or regulation entered, enacted, amended or held to be applicable to the Rights Offering that in the sole judgment of our Board
of Directors would or might make the Rights Offering or its completion, whether in whole or in part, illegal or otherwise restrict
or prohibit completion of the Rights Offering. We may waive any of these conditions and choose to proceed with the Rights Offering
even if one or more of these events occur. If we cancel the Rights Offering, in whole or in part, all affected Subscription Rights
will expire without value, and all subscription payments received by the Subscription Agent will be returned, without interest
or penalty, as soon as practicable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cancellation Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
may cancel the Rights Offering in its sole discretion at any time prior to the time the Rights Offering expires for any reason.
If we cancel the Rights Offering, we will issue a press release notifying shareholders of the cancellation, and any funds you paid
to the Subscription Agent will be returned, without interest or penalty, as soon as practicable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Subscription and Information Agent</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Broadridge Corporate
Issuer Solutions, Inc. is acting as the Subscription Agent for the Rights Offering under an agreement with us. All Subscription
Rights Certificates and payments of the Subscription Price must be delivered to the Subscription Agent at the appropriate address
indicated below. Brokers and nominees should also submit their Nominee Holder Certifications to the Subscription Agent at the appropriate
address indicated below.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><A NAME="eolPage31"></A>By
hand or overnight courier:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Broadridge Corporate Issuer Solutions,
Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Reorganization Department</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">1981 Marcus Avenue, Suite 100</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Lake Success, NY 11042</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">By first class mail:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Broadridge Corporate Issuer Solutions,
Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Reorganization Department</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">P.O. Box 1317</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Brentwood, NY 11717-0693</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You should direct
any questions or requests for assistance concerning the method of subscribing for the shares of Common Stock or for additional
copies of this Prospectus or other Rights Offering documents to the Subscription Agent at (855) 793-5068.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you deliver Subscription
Rights Certificates, Notices of Guaranteed Delivery, payments of the Subscription Price or other subscription documents in a manner
different than that described in this Prospectus, we may not honor the exercise of your Subscription Privileges.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Fees and Expenses</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will pay the
fees and expenses of the Subscription Agent. We have also agreed to indemnify the Subscription Agent from and against certain liabilities
in connection with the Rights Offering. You are responsible for paying any other commissions, fees, taxes or other expenses incurred
in connection with the exercise of the Subscription Rights. Neither the Subscription Agent nor the Company will pay such expenses.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Notice to Brokers and Nominees</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you are a broker,
a custodian bank, a trustee, a depositary for securities or other nominee holder who holds shares of our Common Stock for the account
of others as of 5:00&nbsp;p.m., New York City time, on the Record Date, you should notify the respective beneficial owners of such
shares of the Rights Offering as soon as possible to learn their intentions with respect to exercising their Subscription Rights.
You should obtain instructions from the beneficial owner with respect to their Subscription Rights, as set forth in the instructions
we have provided to you for your distribution to beneficial owners. If the beneficial owner so instructs, you should complete the
appropriate Subscription Rights Certificates and submit them to the Subscription Agent with the proper payment. If you hold shares
of our Common Stock for the account(s) of more than one beneficial owner, you may exercise the number of Subscription Rights to
which all such beneficial owners in the aggregate otherwise would have been entitled had they been direct record holders of our
Common Stock as of 5:00&nbsp;p.m., New York City time, on the Record Date, provided that you, as a nominee record holder, make
a proper showing to the Subscription Agent by submitting the form entitled &#8220;Nominee Holder Certification&#8221; that we will
provide to you with your Rights Offering materials. If you did not receive this form, you should contact the Subscription Agent
to request a copy.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the case of Subscription
Rights that you hold of record on behalf of others through the Depository Trust Company (&#8220;DTC&#8221;), those Subscription
Rights may be exercised by instructing DTC to transfer the Subscription Rights from your DTC account to the Subscription Agent&#8217;s
DTC account, and by delivering to the Subscription Agent the required certification as to the number of shares subscribed for pursuant
to the exercise of the Subscription Rights of the beneficial owners on whose behalf you are acting, together with payment of the
full Subscription Price.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><A NAME="eolPage32"></A>Notice
of Guaranteed Delivery</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you wish to exercise
your Subscription Rights, but you do not have sufficient time to deliver the Subscription Rights Certificate evidencing your Subscription
Rights to the Subscription Agent on or before 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;] (the Expiration Date
of the Rights Offering), you may exercise your Subscription Rights by the following guaranteed delivery procedures:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">deliver to the Subscription Agent on or prior to the Rights Offering Expiration Date your Subscription Price payment in full for each share you subscribed for under your subscription privilege in the manner set forth above under &#8220;The Rights Offering&#8212;Payment Method&#8221;;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">deliver to the Subscription Agent on or prior to the Expiration Date the form entitled &#8220;Notice of Guaranteed Delivery,&#8221; substantially in the form provided with the &#8220;Instructions For Use of Pro-Dex, Inc. Rights Certificates&#8221; distributed with your Subscription Rights Certificates; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">deliver the properly completed Subscription Rights Certificate evidencing your Subscription Rights being exercised and the related nominee holder certification, if applicable, with any required signature guarantee, to the Subscription Agent no later than three business days after the Expiration Date of the Rights Offering. For purposes of these Notice of Guaranteed Delivery procedures, &#8220;business day&#8221; means any day on which trading is conducted on the NASDAQ Capital Market.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Your Notice of Guaranteed
Delivery must be delivered in substantially the same form provided with the Instructions For Use of Pro-Dex, Inc. Subscription
Rights Certificates, which will be distributed to you with your Subscription Rights Certificate. Your Notice of Guaranteed Delivery
must include a signature guarantee from a member firm of a registered national securities exchange or</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">a member of the Financial Industry Regulatory
Authority,&nbsp;Inc., or a commercial bank or trust company having an office or correspondent in the United States, or a bank,
stockbroker, savings and loan association or credit union with membership in an approved signature guarantee medallion program,
pursuant to Rule&nbsp;17Ad-15 of the Exchange Act (each, an &#8220;Eligible Institution&#8221;). A form of that guarantee is included
with the Notice of Guaranteed Delivery.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In your Notice of
Guaranteed Delivery, you must state:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">your name;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the number of Subscription Rights represented by your Subscription Rights Certificates; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the number of shares of our Common Stock for which you are subscribing under your Subscription Privilege; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">your guarantee that you will deliver to the Subscription Agent the Subscription Rights Certificate evidencing the Subscription Rights you are exercising within three business days following the expiration of the Rights Offering.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You may deliver
your Notice of Guaranteed Delivery to the Subscription Agent in the same manner as your Subscription Rights Certificate at the
address set forth above under &#8220;The Rights Offering&#8212;Subscription Agent&#8221; or may be transmitted, if transmitted
by an Eligible Institution, to the Subscription Agent by facsimile transmission to (215) 553-5402. You should confirm receipt of
all facsimile transmissions by calling the Subscription Agent at (855) 793-5068.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Agent will send you additional copies of the form of Notice of Guaranteed Delivery if you request them by calling (855) 793-5068.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Questions About Exercising Subscription
Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you have any
questions or require assistance regarding the method of exercising your Subscription Rights or requests for additional copies of
this Prospectus, the Instructions For Use of Pro-Dex, Inc. Subscription Rights Certificates, the Notice of Guaranteed Delivery
or any other Rights Offering documents, you should contact the Subscription Agent at (855) 793-5068.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="eolPage33"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Transferability of Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights granted to you may be exercised only by you, and, therefore, you may not sell, transfer or assign your Subscription Rights
to anyone else.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="FIS_VALIDITY"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Validity of Subscriptions</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will resolve
all questions regarding the validity and form of the exercise of your Subscription Privileges, including time of receipt and eligibility
to participate in the Rights Offering. Our determination will be final and binding. Once made, subscriptions and directions are
irrevocable, and we will not accept any alternative, conditional or contingent subscriptions or directions. We reserve the absolute
right to reject any subscriptions or directions not properly submitted or the acceptance of which would be unlawful. You must resolve
any irregularities in connection with your subscriptions before the subscription period expires, unless waived by us in our sole
discretion. Neither the Subscription Agent nor we shall be under any duty to notify you or your representative of defects in your
subscriptions. A subscription will be considered accepted, subject to our right to cancel the Rights Offering, only when a properly
completed and duly executed Subscription Rights Certificate and any other required documents and payment of the full subscription
amount have been received by the Subscription Agent (and any payment by uncertified personal check has cleared). Our interpretations
of the terms and conditions of the Rights Offering will be final and binding.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Segregated Account; Return of Funds</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Agent will hold funds received in payment for shares of our Common Stock to be purchased in the Rights Offering in a segregated
account pending completion of the Rights Offering. The Subscription Agent will hold this money until the Rights Offering is completed
or is cancelled. If the Rights Offering is cancelled for any reason, the Subscription Agent will return this money to subscribers,
without interest or penalty, as soon as practicable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Certificates for Shares of Common
Stock</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">All shares that
you purchase in the Rights Offering will be issued in book-entry, or uncertificated, form. When issued, the shares will be registered
in the name of the Subscription Rights holder of record. As soon as practicable after the expiration of the</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Rights Offering period, the Subscription
Agent will arrange for issuance to each Subscription Rights holder of record that has validly exercised its Subscription Privilege,
the shares of Common Stock purchased pursuant to the Subscription Privilege.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Rights of Subscribers</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You will have no
rights as a shareholder with respect to the shares of our Common Stock purchased in the Rights Offering until your account, or
your account at your broker, custodian bank or other nominee, is credited with such shares. You will have no right to revoke your
subscriptions after you deliver your completed Subscription Rights Certificate, payment and any other required documents to the
Subscription Agent.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Foreign Shareholders</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will not mail
Subscription Rights Certificates to shareholders whose addresses are outside the United States or who have a U.S. military post
office or foreign post office address. The Subscription Agent will hold these Subscription Rights Certificates for their account.
To exercise Subscription Rights, our foreign shareholders must notify the Subscription Agent prior to 11:00&nbsp;a.m., New York
City time, at least three business days prior to the Expiration Date of the Rights Offering and demonstrate to the satisfaction
of the Company that the exercise of such Subscription Rights does not violate the laws of the jurisdiction of such shareholder.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage34"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>No Revocation or Change</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Once you submit
the Subscription Rights Certificate to exercise any Subscription Rights, you are not allowed to revoke or change the exercise or
request a refund of monies paid. All exercises of Subscription Rights are irrevocable, even if you learn information about us that
you consider to be unfavorable or if the market price of our Common Stock drops below the Subscription Price. You should not exercise
your Subscription Rights unless you are certain that you wish to purchase the shares of our Common Stock offered pursuant to the
Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Regulatory Limitation</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will not be required
to issue to you shares of our Common Stock pursuant to the Rights Offering if, in our opinion, you are required to obtain prior
clearance or approval from, or submit a prior notice to, any state or federal regulatory authorities to own or control the shares
and if, at the time the Rights Offering expires, we determine that you have not properly obtained such clearance or approval or
submitted such notice. See also &#8220;Limitation on Exercise of Subscription Privilege.&#8221;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>No Recommendation to Subscription Rights Holders</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
is making no recommendation regarding your exercise of the Subscription Rights. Shareholders who exercise Subscription Rights risk
investment loss on new money invested. We cannot assure you that the market price of our Common Stock will be above the Subscription
Price at the time of exercise or at the expiration of the Rights Offering or that anyone purchasing shares at the Subscription
Price will be able to sell those shares in the future at the same price or a higher price. You are urged to decide whether or not
to exercise your Subscription Rights based on your own assessment of our business and the Rights Offering. Among other things,
you should carefully consider the risks, uncertainties and other information described under the heading &#8220;Risk Factors&#8221;
in this Prospectus and the risks, uncertainties and other information described in documents incorporated by reference in this
Prospectus, including but not limited to the sections entitled &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion
and Analysis of Financial Condition and Results of Operation&#8221; in our Annual Report on Form 10-K for the year ended June 30,
2013 and our Quarterly Report on Form&nbsp;10-Q for the quarter ended September 30, 2013, as well as the risks, uncertainties and
other information described in our other filings with the Securities and Exchange Commission (including but not limited to any
subsequently filed Quarterly Reports on Form&nbsp;10-Q), pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act
before making a decision to invest in our Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Participation in Rights Offering by Members of our Board
of Directors</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with
the Rights Offering, we have entered into a Standby Purchase Agreement with AO Partners and Farnam Street Capital. Pursuant to
the Standby Purchase Agreement, the Standby Purchasers have agreed to purchase, at the Subscription Price, in a private transaction
separate from the Rights Offering, any and all Unsubscribed Shares (subject to reduction as a result of Tax Attribute Considerations).
Pursuant to the terms of the Standby Purchase Agreement, the Unsubscribed Shares will be allocated 50% to AO Partners and 50% to
Farnam Street Capital. Nicholas J. Swenson, a director of the Company, is the Managing Member of AO Partners and, in such capacity,
has the power to direct the affairs of AO Partners. Raymond E. Cabillot, a director of the Company, is Chief Executive Officer
and a director of Farnam Street Capital and, in such capacity, has the power to direct the affairs of Farnam Street Capital. Other
members of the Board of Directors may decide to participate in the Rights Offering in their capacity</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">as shareholders of the Company, but
are not required to do so. Any shares of Common Stock issued to the Standby Purchasers in connection with the standby purchase
commitment described above will be &#8220;restricted securities&#8221; as that term is defined in Rule 144 under the Securities
Act. The Standby Purchasers and certain of their affiliates may also exercise the Subscription Privileges they hold in their capacity
as shareholders of the Company.</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Listing</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Subscription
Rights may not be sold, transferred or assigned to anyone else and will not be listed on the NASDAQ Capital Market or any other
stock exchange or trading market. Our Common Stock trades on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221; and
the shares to be issued in connection with the Rights Offering will be eligible for trading on the NASDAQ Capital Market under
the same symbol.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_DILUTION"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Participation in Rights Offering Not Required; Potential
Dilution</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You are not required
to exercise your Subscription Rights or otherwise take any action in response to this Rights Offering. If you do not exercise your
Subscription Rights and the Rights Offering is completed, the number of shares of our Common Stock you own will not change but
your percentage ownership of our total outstanding Common Stock will decrease because shares will be purchased by other shareholders
in the Rights Offering or by the Standby Purchasers. Your percentage ownership of our Common Stock may also decrease if you do
not exercise your Subscription Privilege in full.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;<A NAME="eolPage35"></A>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Shares of Common Stock Outstanding After the Rights Offering</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of December 16, 2013, 3,342,321 shares of our
Common Stock were issued and outstanding. Assuming no other transactions by us involving our Common Stock, and no options for our
Common Stock are exercised prior to the expiration of the Rights Offering, if the Rights Offering is fully subscribed through the
exercise of the Subscription Rights and/or the Standby Purchasers acquire all of the Common Stock not purchased by the holders
of Subscription Rights, then an additional [&#9679;] shares of our Common Stock will be issued and outstanding after the closing
of the Rights Offering, for a total of [&#9679;] shares of Common Stock issued and outstanding. As a result of the Rights Offering,
the ownership interests and voting interests of the existing shareholders that do not fully exercise their Subscription Privileges
will be diluted.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Other Matters</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are not making
the Rights Offering in any state or other jurisdiction in which it is unlawful to do so, nor are we distributing or accepting any
offers to purchase any shares of our Common Stock from Subscription Rights holders who are residents of those states or other jurisdictions
or who are otherwise prohibited by federal or state laws or regulations to accept or exercise the Subscription Rights. We may delay
the commencement of the Rights Offering in those states or other jurisdictions, or change the terms of the Rights Offering, in
whole or in part, in order to comply with the securities laws or other legal requirements of those states or other jurisdictions.
Subject to state securities laws and regulations, we also have the discretion to delay allocation and distribution of any shares
you may elect to purchase by exercise of your Subscription Privileges in order to comply with state securities laws. We may decline
to make modifications to the terms of the Rights Offering requested by those states or other jurisdictions, in which case, if you
are a resident in those states or jurisdictions or if you are otherwise prohibited by federal or state laws or regulations from
accepting or exercising the Subscription Rights, you will not be eligible to participate in the Rights Offering. However, we are
not currently aware of any states or jurisdictions that would preclude participation in the Rights Offering.</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage36"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B><A NAME="FIS_SECURITIES_DESCRIPTION"></A>DESCRIPTION
OF CAPITAL STOCK</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following summary of the terms
of the Company&#8217;s capital stock does not purport to be complete and is subject to and qualified in its entirety by reference
to the Company&#8217;s Articles of Incorporation and the Company&#8217;s Bylaws, each of which may be further amended from time
to time and both of which are incorporated herein by reference.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>General</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">As of December 16, 2013, the Company&#8217;s authorized capital stock consists of (i) 50,000,000 shares of Common Stock, no par value
per share, and (ii) 10,000,000 shares of preferred stock, no par value per share (&#8220;Preferred Stock&#8221;), of which 78,129
shares have been designated as Series A Convertible Preferred Stock (&#8220;Series A Preferred Stock&#8221;). As of December 16, 2013, 3,342,321 shares of Common Stock were issued and outstanding
and no shares of Preferred Stock were issued and outstanding.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Common Stock</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The holders
of the Company&#8217;s Common Stock are entitled to one vote for each share of Common Stock held of record on all matters submitted
to a vote of the Company&#8217;s shareholders, including the election of directors, and do not have cumulative voting rights. Subject
to preferences that may be applicable to any outstanding Preferred Stock, holders of Common Stock are entitled to receive ratably
those dividends, if any, as may be declared by the Board of Directors out of legally available funds. Subject to the rights of
any outstanding Preferred Stock, upon the Company&#8217;s liquidation, dissolution or winding-up, the holders of Common Stock will
be entitled to share ratably in the net assets legally available for distribution to the Company&#8217;s shareholders after the
payment of all of the Company&#8217;s debts and other liabilities. Holders of Common Stock have no preemptive or conversion rights
or other subscription rights and there are no redemption or sinking fund provisions applicable to the Common Stock. All outstanding
shares of Common Stock are fully paid and nonassessable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Broadridge Corporate
Issuer Solutions, Inc. is the transfer agent for the Company&#8217;s Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s
Common Stock is listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221;.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s
Board of Directors has the authority, without further action by the Company&#8217;s shareholders (other than such approval rights
as may be granted to any outstanding series of Preferred Stock), to designate and issue one or more series of Preferred Stock and
to fix the rights, powers, preferences, qualifications, limitations and restrictions of each series of Preferred Stock to the maximum
extent permitted by Colorado law. Among other things, the Board of Directors may establish the following with respect to each series
of Preferred Stock:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(i)&#9;the
number of shares that constitute each series of Preferred Stock;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(ii)&#9;the
rate and preference of dividends, if any, the time of payment of dividends, whether dividends are cumulative and the date from
which any dividend shall accrue;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(iii)&#9;whether
the series of Preferred Stock may be redeemed and, if so, the redemption price and the other terms and conditions of redemption;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(iv)&#9;sinking
fund or other provisions, if any, for redemption or purchase of the series of Preferred Stock;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(v)&#9;whether
the series of Preferred Stock may be converted into, or exchangeable for, other classes of capital stock of the Company (including
Common Stock or another series of Preferred Stock) and, if so, the conversion price or exchange rate and the other terms of conversion
or exchange; and</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(vi) &#9;the
liquidation preferences payable on, and other rights afforded to, the series of Preferred Stock in the event of voluntary or involuntary
dissolution, winding-up or other liquidation of the Company.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The rights,
powers, preferences, qualifications, limitations and restrictions of different series of Preferred Stock may differ with respect
to dividend rates, redemption provisions, sinking fund provisions, conversion and exchange rights, liquidation preferences and
other matters.</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The issuance
of Preferred Stock could decrease the amount of earnings and assets available for distribution to holders of Common Stock or adversely
affect the rights and powers, including voting rights, of the holders of Common Stock. The existence of authorized but unissued
Preferred Stock may also discourage or render more difficult attempts to take control of the Company, as described in more detail
below under &#8220;Anti-Takeover Provisions of Governing Documents.&#8221;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Series A Preferred Stock</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">78,129 shares
of the Company&#8217;s Preferred Stock have been designated as Series A Preferred Stock, which have the following rights and preferences:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(i)&#9;holders
of Series A Preferred Stock will have a liquidation preference of $3.60 per share of Series A Preferred Stock payable in preference
to holders of Common Stock and holders of shares of the Company&#8217;s other capital stock, if any, ranking junior to the Series
A Preferred Stock (a consolidation or merger of the Company with or into another corporation or entity or sale of all or substantially
all of the assets of the Company shall be deemed a &#8220;liquidation&#8221; with respect to the Series A Preferred Stock unless
such consolidation or merger is a Pro Forma Merger; a &#8220;Pro Forma Merger&#8221; is defined in the Company&#8217;s Articles
of Incorporation as a consolidation or merger, as the result of which 15% or fewer of the equity securities of the Company outstanding
after the merger or consolidation are owned by persons who were not holders of equity securities of the Company immediately preceding
the merger or consolidation);</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(ii)&#9;holders
of Series A Preferred Stock have the right, at any time and from time to time, to convert three shares of Series A Preferred Stock
into one share of Common Stock (which conversion rate is subject to adjustment in the event shares of Common Stock are issued as
a dividend or distribution on any class of capital stock of the Company or if the Common Stock is subdivided, split or combined
or subject to a recapitalization, reclassification or similar transaction);</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(iii)&#9;no
fractional shares of Common Stock will be issued upon conversion of Series A Preferred Stock, and in lieu of any fractional share
the Company shall pay the holder of converted Series A Preferred Stock an amount calculated in accordance with the Company&#8217;s
Articles of Incorporation;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(iv)&#9;the
Company must at all times reserve and keep available out of its authorized but unissued Common Stock, solely for the purpose of
issuance upon conversion of the Series A Preferred Stock, the number of shares of Common Stock<I> </I>issuable upon the conversion
of all outstanding shares of Series A Preferred Stock;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(v)&#9;the
Company will not, by amendment of<I> </I>its Articles of Incorporation or through any other voluntary action, avoid or seek to
avoid the observance or performance of any of the rights or preferences of the Series A Preferred Stock;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(vi)&#9;the
Company does not have the right to redeem Series A Preferred Stock;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(vii)&#9;holders
of Series A Preferred Stock have no voting rights except as otherwise granted to them under Colorado law;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(viii)&#9;Series
A Preferred Stock will not be entitled to dividends; and</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(ix)&#9;all
shares of Series A Preferred Stock surrendered for conversion into Common Stock shall be restored to the status of authorized but
unissued shares of Preferred Stock and may not be reissued as Series A Preferred Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Anti-Takeover Provisions of Governing Documents</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s
Bylaws require that the Company&#8217;s shareholders satisfy certain advance notice and other requirements in order to properly
submit proposals or director nominees for consideration at the Company&#8217;s annual meetings of shareholders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">As discussed
above, the Company&#8217;s Board of Directors has the authority, without further action by the Company&#8217;s shareholders (other
than such approval rights as may be granted to any outstanding series of Preferred Stock), to designate and issue one or more series
of Preferred Stock and to fix the rights, powers, preferences, qualifications, limitations and restrictions of each series of Preferred
Stock to the maximum extent permitted by Colorado law. The existence of authorized but unissued Preferred Stock may enable the
Board of Directors to render more difficult or to discourage an attempt to obtain control of the Company by means of a merger,
tender offer, proxy contest or otherwise. Among other things, if in the due exercise of its fiduciary obligations, the Board of
Directors were to determine that a takeover proposal is not in the best interests of the Company and its shareholders, the Board
of Directors could cause shares of Preferred Stock to be designated and issued without further shareholder approval in one or more
private offerings or other transactions that might dilute the voting or other rights of the proposed acquirer or insurgent shareholder
or shareholder group. &nbsp;<A NAME="eolPage37"></A><B>&nbsp;</B><A NAME="FIS_DISTRIBUTION_PLAN"></A></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On or about [&#9679;],
201[&#9679;], we will distribute the Subscription Rights, Subscription Rights Certificates and copies of this Prospectus to individuals
who owned shares of Common Stock of record as of 5:00&nbsp;p.m., New York City time, on [&#9679;], 201[&#9679;], the Record Date
for the Rights Offering. If you wish to exercise your Subscription Rights and purchase shares of Common Stock, you should complete
the Subscription Rights Certificate and return it with payment of the full Subscription Price to the Subscription Agent. See &#8220;The
Rights Offering&#8212;Method of Exercising Subscription Rights.&#8221; If you have any questions, you should contact the Subscription
Agent (Broadridge Corporate Issuer Solutions, Inc.) at (855) 793-5068. The Subscription Rights will not be listed on the NASDAQ
Capital Market or any other stock exchange or trading market. The shares of Common Stock issuable upon exercise of the Subscription
Rights will be listed on the NASDAQ Capital Market under the symbol &#8220;PDEX&#8221;.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have agreed to
pay the Subscription Agent customary fees plus certain expenses in connection with the Rights Offering. We have not employed any
brokers, dealers or underwriters in connection with the solicitation of exercise of Subscription Rights. Except as described in
this section, we are not paying any other commissions, underwriting fees or discounts in connection with the Rights Offering. Some
of our employees may solicit responses from you as a holder of Subscription Rights, but we will not pay our employees any commissions
or compensation for these services other than their normal employment compensation. We estimate that our total expenses in connection
with the Rights Offering will be approximately $78,350.</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage39"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_PROCEED_USE_2"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We expect the proceeds
from the Rights Offering and the transactions contemplated by the Standby Purchase Agreement to be approximately $3,000,000 (before
expenses and subject to reduction as a result of Tax Attribute Considerations). We intend to use the net proceeds of the Rights
Offering to pursue strategic opportunities that may present themselves from time to time or, if not used to pursue strategic opportunities,
for working capital and general corporate purposes, including to fund our ongoing research and development and product initiatives.
Also, to the extent net proceeds of the Rights Offering are not deployed, some of the funds may be invested in accordance with
the terms of our Surplus Capital Investment Policy.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage40"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_MARKET"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PRICE RANGE OF COMMON STOCK AND DIVIDEND
POLICY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Our Common Stock
is traded on the NASDAQ Capital Market under the symbol &#8220;PDEX.&#8221;&nbsp;&nbsp;The following table sets forth, for the
periods indicated, the quarterly high and low sales prices per share of our Common Stock as reported on the NASDAQ Capital Market.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE_6"></A></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 65%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Quarter Ended</B></FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>High</B></FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Low</B></FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September 30, 2011&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.59</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.64</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 31, 2011&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.57</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.81</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 31, 2012&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$3.90</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.92</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 30, 2012&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.43</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.80</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September 30, 2012&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.10</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.52</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 31, 2012&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.19</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.72</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 31, 2013&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.37</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.92</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 30, 2013&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.10</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.84</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September 30, 2013&#9;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.19</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.82</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of December 16,
2013, there were approximately 466 record holders of the Company&#8217;s
Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company has
never paid a cash dividend on its Common Stock. The current policy of the Board of Directors is to retain earnings to provide funds
for the operation and expansion of the Company&#8217;s business.</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage41"></A>&nbsp;</P>


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<P STYLE="font: 11pt/0.05pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_TAXATION"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTAIN MATERIAL U.S. FEDERAL INCOME
TAX CONSIDERATIONS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following is
a general summary of certain material U.S. federal income tax consequences to U.S. holders (as defined below) of the receipt and
ownership of the Subscription Rights pursuant to the Rights Offering and certain tax considerations for U.S. holders of the ownership
of our Common Stock resulting from the exercise of Subscription Rights. This summary is based upon provisions of the Code, applicable
Treasury Regulations, administrative rulings, judicial authorities and other applicable existing U.S. federal income tax authorities,
all of which are subject to change or differing interpretations, possibly with retroactive effect which could result in U.S. federal
income tax consequences different from those discussed below. No assurance can be given that the Internal Revenue Service, or IRS,
will not challenge one or more of the tax results described in this discussion, and no opinion of the Company&#8217;s counsel or
ruling from the IRS has been, or is expected to be, sought with respect to the U.S. federal tax consequences of the Rights Offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This summary does
not provide a complete analysis of all potential tax considerations. This summary is only applicable to U.S. holders of Common
Stock who are individuals and who acquire the Subscription Rights pursuant to the terms of the Rights Offering, have held the Common
Stock, and will hold the Subscription Rights, and the Common Stock issued upon exercise of the rights as capital assets (generally,
property held for investment) within the meaning of Section&nbsp;1221 of the Code. This summary does not deal with all tax consequences
that may be relevant to holders in light of their personal circumstances or particular situations, such as holders who may be subject
to special tax treatment under the Code, including (without limitation) dealers in securities or currencies, financial institutions,
insurance companies, regulated investment companies, real estate investment trusts, tax-exempt entities or traders in securities
that elect to use a mark-to-market method of accounting for their securities, persons holding Subscription Rights or Common Stock
as part of a hedging, integrated or conversion transaction or a straddle, persons deemed to sell Common Stock, under the constructive
sale provisions of the Code, persons whose &#8220;functional currency&#8221; is not the U.S. dollar, and foreign taxpayers. This
summary does not deal with any U.S. federal non-income, state, local or foreign tax consequences, estate or gift tax consequences,
or alternative minimum tax consequences, nor does it address any tax considerations to persons other than U.S. holders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For purposes of
this discussion, a &#8220;U.S. holder&#8221; is a beneficial owner of our right or Common Stock that is, for U.S. federal income
tax purposes:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">an individual who is a citizen or resident of the United States;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a corporation, or other business entity treated as a corporation for U.S. federal income tax purposes, created or organized in or under the laws of the United States, any state of the United States or the District of Columbia;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">an estate, if its income is subject to U.S. federal income taxation regardless of its source; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a trust, if (i)&nbsp;a U.S. court can exercise primary supervision over the trust&#8217;s administration and one or more U.S. persons (within the meaning of the Code) have the authority to control all of its substantial decisions or (ii)&nbsp;the trust has a valid election in effect under applicable Treasury Regulations to be treated as a U.S. person.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If a partnership
(including any entity treated as a partnership for U.S. federal income tax purposes) receives the Subscription Rights or exercises
the Subscription Rights, the tax treatment of a partner in a partnership generally will depend upon the status of the partner and
the activities of the partnership. Such a partner or partnership should consult its tax advisor as to the U.S. federal income tax
consequences of the receipt, exercise or lapse of the Subscription Rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Holders of Common
Stock are urged to consult their own tax advisors as to the specific tax consequences of the Rights Offering to them, including
the applicable federal, state, local and foreign tax consequences of the Rights Offering to them and the effect of possible changes
in tax laws.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage42"></A>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Taxation of Subscription Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Receipt of Subscription Rights</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Your receipt of
Subscription Rights pursuant to the Rights Offering should be treated as a nontaxable distribution with respect to your existing
Common Stock for U.S. federal income tax purposes, and the following summary assumes you will qualify for such nontaxable treatment.
If, however, the Rights Offering does not qualify as nontaxable, you would be treated as receiving a taxable distribution equal
to the fair market value of the Subscription Rights on their distribution date. The distribution would be taxed</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">as a dividend to the extent made out
of our current or accumulated earnings and profits; any excess would be treated first as a return of your basis (investment) in
your Common Stock and then as a capital gain. Expiration of the Subscription Rights would result in a capital loss.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If the fair market
value of the Subscription Rights you receive is less than 15% of the fair market value of your existing Common Stock on the date
you receive the Subscription Rights, the Subscription Rights will be allocated a zero basis for U.S. federal income tax purposes,
unless you elect to allocate basis between your existing Common Stock and the Subscription Rights in proportion to the relative
fair market values of the existing Common Stock and the Subscription Rights determined on the date of receipt of the Subscription
Rights. If you choose to allocate basis between your existing Common Stock and the Subscription Rights, you must make this election
on a statement included with your tax return for the taxable year in which you receive the Subscription Rights. Such an election
is irrevocable. The fair market value of the Subscription Rights on the date the Subscription Rights are distributed is uncertain,
and we have not obtained, and do not intend to obtain, an appraisal of the fair market value of the Subscription Rights on that
date. In determining the fair market value of the Subscription Rights, you should consider all relevant facts and circumstances,
including any difference between the Subscription Price of the Subscription Rights and the trading price of our Common Stock on
the date that the Subscription Rights are distributed, the length of the period during which the Subscription Rights may be exercised
and the fact that the Subscription Rights are non-transferable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On the other hand,
if the fair market value of the Subscription Rights you receive is 15% or more of the fair market value of your existing Common
Stock on the date you receive the Subscription Rights, then you must allocate your basis in your existing Common Stock between
the existing Common Stock and the Subscription Rights you receive in proportion to their fair market values determined on the date
you receive the Subscription Rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Your holding period
in a Subscription Right will include your holding period in the Common Stock with respect to which the Subscription Right was distributed.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Exercise of Subscription Privilege</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Generally, you will
not recognize gain or loss on the exercise of a Subscription Right pursuant to the Subscription Privilege. Your tax basis in new
shares of Common Stock acquired when you exercise a Subscription Right pursuant to the Subscription Privilege will be equal to
your adjusted tax basis in the Subscription Right plus the Subscription Price. The holding period of a share of Common Stock acquired
when you exercise a Subscription Right pursuant to the Subscription Privilege will begin on the date of exercise.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you exercise
a Subscription Right received in the Rights Offering after disposing of the share of our Common Stock with respect to which such
Subscription Right is received, then certain aspects of the tax treatment of the exercise of the Subscription Right are unclear,
including (1)&nbsp;the allocation of tax basis between the Common Stock previously sold and the Subscription Right, (2)&nbsp;the
impact of such allocation on the amount and timing of gain or loss recognized with respect to the Common Stock previously sold,
and (3)&nbsp;the impact of such allocation on the tax basis of Common Stock acquired through exercise of the Subscription Right.
If you exercise a Subscription Right received in the Rights Offering after disposing of the Common Stock with respect to which
the Subscription Right is received, you should consult your tax advisor.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><I><A NAME="eolPage43"></A>Non-Exercising
Subscription Rights</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If you do not exercise
your Subscription Rights, you should not recognize a capital loss for U.S. federal income tax purposes and any portion of the tax
basis in your existing shares of Common Stock previously allocated to the Subscription Right not exercised should be re-allocated
to the existing Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Ownership of Common Stock Upon Exercise of Subscription
Privilege</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Dividends</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In general, distributions
of money, securities and any other property (other than our stock or rights to acquire such stock) with respect to our Common Stock
will constitute dividends to the extent made out of our current or accumulated earnings and profits, as determined under U.S. federal
income tax principles. If a distribution exceeds our current and accumulated earnings and profits, the excess will be treated as
a non-taxable return of capital to the extent of your adjusted tax basis in the Common Stock and thereafter as capital gain from
the sale or exchange of such Common Stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Gain on Disposition of Common
Stock</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Upon the sale or
other disposition of our Common Stock, you will generally recognize capital gain or loss for U.S. federal income tax purposes equal
to the difference between your amount realized on the sale and your adjusted tax basis in such Common Stock. Capital gain of a
noncorporate U.S. holder is generally taxed at preferential rates where the holder has a holding period greater than one (1)&nbsp;year.
The deductibility of capital losses is subject to limitations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Additional Medicare Tax on Net
Investment Income</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For tax years beginning
after December 31, 2012, an additional 3.8% tax will be imposed on the net investment income of certain U.S. citizens and resident
aliens, and on the undistributed net investment income of certain estates and trusts. Among other items, net investment income
generally includes gross income from dividends and net gain from the disposition of property, such as our Common Stock, less certain
deductions. You should consult your tax advisor with respect to this additional tax.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Information Reporting and Backup
Withholding</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Payments made to
you of proceeds from the sale or other disposition of the Common Stock may be subject to information reporting to the IRS and possible
U.S. federal backup withholding. Backup withholding will not apply if you furnish a correct taxpayer identification number (certified
on the IRS Form&nbsp;W-9) or otherwise establish that you are exempt from backup withholding. Backup withholding is not an additional
tax. Amounts withheld as backup withholding may be credited against your U.S. federal income tax liability. You may obtain a refund
of any excess amounts withheld under the backup withholding rules&nbsp;by filing the appropriate claim for refund with the IRS
and furnishing any required information.</P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage44"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>&nbsp;&nbsp;<A NAME="FIS_LEGAL_MATTERS"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Rutan &amp; Tucker,
LLP, Costa Mesa, California has issued an opinion regarding the securities being offered by this Prospectus. We have filed the
opinion as an exhibit to the registration statement of which this Prospectus is part.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_EXPERTS"></A></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXPERTS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The consolidated
financial statements incorporated by reference in this Prospectus and elsewhere in the registration statement from our Annual Report
on Form 10-K have been so incorporated by reference in reliance upon the report of Moss Adams LLP, an independent registered public
accounting firm, upon the authority of said firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="FIS_MORE_INFORMATION"></A></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have filed a
registration statement on Form&nbsp;S-3 with the SEC covering the securities that may be sold under this Prospectus.&nbsp;&nbsp;This
Prospectus summarizes material provisions of contracts and other documents that we refer you to.&nbsp;&nbsp;For further information
on the Company, the Rights Offering, the Subscription Rights and our Common Stock, you should refer to our registration statement
and its exhibits. As permitted by the rules and regulations of the SEC, the registration statement that contains this Prospectus
includes additional information not contained in this Prospectus.&nbsp;&nbsp;Because the Prospectus may not contain all the information
that you may find important, you should review the full text of these documents.&nbsp;&nbsp;We have included copies of these documents
as exhibits to our registration statement of which this Prospectus is a part.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We also file reports,
proxy statements and other information with the SEC.&nbsp;&nbsp;Our SEC filings are available over the Internet at the SEC&#8217;s
website at http://www.sec.gov.&nbsp;&nbsp;You may also read and copy any document we file by visiting the SEC&#8217;s public reference
room in Washington, D.C.&nbsp;&nbsp;The SEC&#8217;s address in Washington, D.C. is 100 F Street, N.E., Room 1580, Washington, D.C.
20549.&nbsp;&nbsp;Please call the SEC at 1-800-SEC-0330 for further information about the public reference room.&nbsp;&nbsp;You
may also inspect our SEC reports and other information at the offices of The NASDAQ Stock Market at One Liberty Plaza, 165 Broadway,
New York, New York 10006. Copies are also available on our website at www.pro-dex.com.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The SEC allows us
to &#8220;incorporate by reference&#8221; the information we file with them, which means:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">incorporated documents are considered part of the Prospectus;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">we can disclose important information to you by referring you to those documents; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">information that we file with the SEC will automatically update and supersede this incorporated information.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We incorporate by
reference the following documents that we have filed with the SEC:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annual Report on Form 10-K for the fiscal year ended June 30, 2013;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Quarterly Report filed on Form 10-Q for the quarter ended September 30, 2013;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current Reports on Form 8-K filed on July 17, 2013, September 25, 2013, October 2, 2013, November 13, 2013, December 11, 2013 and December 17, 2013; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;<A NAME="eolPage45"></A>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description of the Common Stock which is contained in the Company&#8217;s Current Report on Form 8-K filed on December 17, 2013, including any amendment or report filed for the purpose of updating such description.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We also incorporate
by reference each of the following documents that we will file with the SEC after the date of this Prospectus until this offering
is completed:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reports filed under Sections 13(a) and (c)&nbsp;of the Exchange Act;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">any document filed under Section&nbsp;14 of the Exchange Act; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 72.05pt; text-align: justify; text-indent: -36.05pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">any reports filed under Section&nbsp;15(d) of the Exchange Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You should rely
only on information contained or incorporated by reference in this Prospectus.&nbsp;&nbsp;We have not authorized any other person
to provide you with different information.&nbsp;&nbsp;If anyone provides you with different or inconsistent information, you should
not rely on it.&nbsp;&nbsp;We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not
permitted.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You should assume
that the information appearing in this Prospectus is accurate as of the date of this Prospectus only.&nbsp;&nbsp;Our business,
financial condition and results of operation may have changed since that date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We will provide
to each person, including any beneficial owner, to whom this Prospectus is delivered a copy of any or all of the information that
has been incorporated by reference in this Prospectus but not delivered with this Prospectus. To receive a free copy of any of
the documents incorporated by reference in this Prospectus (other than exhibits, unless they are specifically incorporated by reference
in the documents), you may request them in writing or by telephone from us at the following address and phone number:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Pro-Dex, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">2361 McGaw Avenue</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Irvine, California 92614</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Attention:&nbsp;&nbsp;Harold A. Hurwitz,
Chief Executive Officer</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (944) 769-3200</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage46"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0.5in"><IMG SRC="prodex.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Subscription Rights to purchase up
to [&#9679;] shares of Common Stock at $[&#9679;] per share</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>and the shares of Common Stock issuable
upon the exercise of such Subscription Rights</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 8.5pt 0 0; text-align: center; border-top: black 1pt solid; border-bottom: black 1pt solid"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 8.5pt 0 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>[&#9679;]</B> <B>, 201[&#9679;]</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage47"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B><A NAME="FIS_PART_II"></A>PART
II.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_OFFERING_EXPENSE"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp; <B>Item 14. Other Expenses of
Issuance and Distribution</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table
sets forth the approximate expenses payable by the Company in connection with the sale of the securities being registered:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE_7"></A></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 65%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 86%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SEC Registration Fees</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">350</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Printing and Mailing Expenses</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,000</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Legal Fees</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35,000</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounting Fees</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,000</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subscription and Information Agent Fees</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,000</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Miscellaneous Fees and Expenses</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,000</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: right; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">78,350</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage48"></A>&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_INDEMNIFICATION"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Item 15.&nbsp;&nbsp; Indemnification of Directors and
Officers</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Pro-Dex is
incorporated under the laws of the State of Colorado. Section 7-109-102 of the Colorado Business Corporations Act (the &#8220;Colorado
Act&#8221;) authorizes a Colorado corporation to indemnify any director of the corporation against liability incurred in any proceeding
if he or she acted in good faith and in a manner he or she reasonably believed to be in (or in the case of conduct not in taken
the director&#8217;s official capacity, not opposed to) the best interests of the corporation and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his or her conduct was unlawful; provided that the corporation generally
may not indemnify a director for conduct which the director is adjudged liable.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Unless limited
by a corporation&#8217;s articles of incorporation, Sections 7-109-103 and 7-109-107 of the Colorado Act require that a Colorado
corporation indemnify a director or officer of the corporation who was wholly successful, on the merits or otherwise, in defending
any proceeding to which he or she was a party because he or she was a director or officer of the corporation against reasonable
expenses incurred in connection therewith.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Pursuant
to Section 7-109-104 of the Colorado Act, a Colorado corporation may advance a director&#8217;s expenses incurred in defending
any action or proceeding upon receipt of an undertaking and a written affirmation of his or her good faith belief that he or she
has met the standard of conduct specified in Section 7-109-102 described above. Unless limited by the corporation&#8217;s articles
of incorporation, Section 7-109-107 of the Colorado Act extends this same protection to officers of a corporation.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Regardless of whether a director
or officer has the right to indemnity pursuant to the provisions of the Colorado Act described above, Section 7-109-108 of the
Colorado Act allows a Colorado corporation to purchase and maintain insurance on behalf of a director or officer against liability
resulting from his or her role as director or officer.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Article 8
of the Company&#8217;s Articles of Incorporation expressly states that (unless limited by its Bylaws, by Board of Director or shareholder
resolution or by contract) the Company shall indemnify its directors and officers to the extent and in a manner permitted by the
Colorado Act. No provision of the Company&#8217;s Bylaws, no resolutions by the Company&#8217;s Board of Directors or shareholders,
and no contracts between the Company and its directors or officers have limited such rights.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">It is the
Company&#8217;s policy to maintain an insurance policy indemnifying its directors and officers against certain liabilities, including
certain liabilities arising under the Securities Act, which might be incurred by them in such capacities and against which they
may not be entitled to indemnification by us. As of December 16, 2013, the
Company has such an insurance policy in place.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">It is also
the Company&#8217;s policy to enter into indemnification agreements with each of its directors and officers. As of December 16, 2013, the Company has entered into its standard form of indemnification agreement with each of its current directors
and officers, pursuant to which the Company agrees, among other things, to indemnify and advance expenses to each director and
officer to the maximum extent permitted by law.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT>&nbsp;</FONT></P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage49"></A><A NAME="eolPage50"></A>&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_EXHIBITS"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Item 16.&nbsp;&nbsp; Exhibits</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following exhibits
are filed herewith or incorporated by reference.&nbsp;&nbsp;The reference numbers correspond to the numbered paragraphs of Item
601 of Regulation S-K.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit No.</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed April 23, 2007).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed December 5, 2007)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed June 18, 2010)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.4</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Bylaws, dated January 31, 2011 (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed February 4, 2011)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of&nbsp; Non-Transferable Subscription Rights Certificate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Subscription and Information Agent Agreement, dated
        December 17, 2013, between the Company and Broadridge Corporate Issuer Solutions,
        Inc.</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Rutan &amp; Tucker, LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Standby Purchase Agreement, dated December 17, 2013, among the Company, AO Partners, LLC and Farnam Street Capital, Inc.</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Moss Adams LLP, independent registered public accounting firm</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Rutan &amp; Tucker, LLP (incorporated in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney (included in the signature page hereof)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Instructions for Use of Non-Transferable Subscription Rights Certificates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Registered Holders of Common Stock</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.3</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Brokers and Other Nominee Holders</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.4</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Clients of Brokers and Other Nominee Holders</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.5</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Beneficial Owner Election Form</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.6</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Nominee Holder Certification</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.7</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Notice of Guaranteed Delivery</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 1pt 431.8pt 1pt 0in"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt/3pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filed herewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0 0 17.95pt; text-align: justify; text-indent: -17.95pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To be filed either by amendment or as an exhibit to a report filed under the Securities Exchange Act of 1934, as amended, and incorporated by reference to this Registration Statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/6pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage51"></A>&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_UNDERTAKINGS"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 17. Undertakings</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement.&nbsp;&nbsp;Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the
low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">provided, however, that paragraphs
(a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the registration statement is on Form S-3 or Form F-3 and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated
by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part
of the registration statement;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered that remain unsold at the
termination of the offering; and</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">The undersigned registrant undertakes
that in a primary offering of securities of an undersigned registrant pursuant to this registration statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means
of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to
offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
424;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to
by the undersigned registrant;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage52"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
of the SEC such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.&nbsp;&nbsp;In
the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes that:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant
pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement
as of the time it was declared effective.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of
prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;</B></P>


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<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0"><A NAME="eolPage53"></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="FIS_SIGNATURES"></A>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the
Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements
for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Irvine, State of California, on December 17, 2013.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PRO-DEX, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Harold A. Hurwitz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Harold A. Hurwitz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(<I>Principal Executive Officer</I>)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt/0.05pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="FIS_POWER_OF_ATTORNEY"></A>POWER
OF ATTORNEY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The officers and directors of Pro-Dex,
Inc. whose signatures appear below, hereby constitute and appoint Harold A. Hurwitz their true and lawful attorney-in-fact and
agent, with full power of substitution, with power to act alone, to sign and execute on behalf of the undersigned any and all amendments
to this Registration Statement on Form S-3, including post-effective amendments and any Registration Statement filed pursuant to
Rule 462(b) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), and each of the undersigned does hereby
ratify and confirm all that said attorney-in-fact and agent, or his substitutes, shall do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the
Securities this Registration Statement on Form S-3 has been signed by the following persons in the capacities and on the dates
indicated.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Harold A. Hurwitz</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President, Chief Executive Officer, Chief Financial Officer and Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17,&nbsp;2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Harold A. Hurwitz</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(<I>Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer</I> )</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Nicholas J. Swenson</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chairman of the Board</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17,&nbsp;2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nicholas J. Swenson</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Raymond E. Cabillot</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17,&nbsp;2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Raymond E. Cabillot</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ William J. Farrell, III</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17,&nbsp;2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">William J. Farrell, III</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ David C. Hovda</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17,&nbsp;2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">David C. Hovda</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt/0.05pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="FIS_EXHIBIT_INDEX"></A>INDEX
TO EXHIBITS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit No.</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: black 1pt solid; padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed April 23, 2007).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed December 5, 2007)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Articles of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed June 18, 2010)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.4</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Bylaws, dated January 31, 2011 (incorporated herein by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed February 4, 2011)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of&nbsp; Non-Transferable Subscription Rights Certificate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Subscription and Information Agent Agreement, dated
        December 17, 2013, between the Company and Broadridge Corporate Issuer Solutions,
        Inc.</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Rutan &amp; Tucker, LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Standby Purchase Agreement, dated December 17,
        2013, among the Company, AO Partners, LLC and Farnam Street Capital, Inc.</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Moss Adams LLP, independent registered public accounting firm</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Rutan &amp; Tucker, LLP (incorporated in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney (included in the signature page hereof)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Instructions for Use of Non-Transferable Subscription Rights Certificates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Registered Holders of Common Stock</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.3</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Brokers and Other Nominee Holders</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.4</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Letter to Clients of Brokers and Other Nominee Holders</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.5</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Beneficial Owner Election Form</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.6</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Nominee Holder Certification</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.7</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Notice of Guaranteed Delivery</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><A NAME="FIS_UNIDENTIFIED_TABLE_9"></A>&nbsp;</P>

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 1pt 431.8pt 1pt 0in"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 3pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt/3pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filed herewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt/0.05pt Times New Roman, Times, Serif; margin: 0 0 0 17.95pt; text-align: justify; text-indent: -17.95pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify; line-height: 115%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To be filed either by amendment or as an exhibit to a report filed under the Securities Exchange Act of 1934, as amended, and incorporated by reference to this registration statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 7pt 0 0; text-indent: 0.5in">&nbsp;<A NAME="eolPage56"></A><A NAME="V349809_EX4_1_HTM"></A><A NAME="FIS_EXHIBIT_4"></A></P>



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<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>2
<FILENAME>ex4-2.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>EXHIBIT 4.2</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SUBSCRIPTION AND INFORMATION AGENT
AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M1"></A>This
Subscription and Information Agent Agreement (the &#8220;<B><I>Agreement</I></B>&#8221;) is entered into as of this 17th day of
December, 2013, by and between, Pro-Dex, Inc., a Colorado corporation having its principal offices in Irvine, California (the &#8220;<B><I>Corporation</I></B>&#8221;),
and Broadridge Corporate Issuer Solutions, Inc., a corporation having its principal offices in Philadelphia, Pennsylvania (<A NAME="a_DV_C9"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">&#8220;</FONT><FONT STYLE="text-underline-style: none; color: windowtext"><I>Broadridge</I><FONT STYLE="font-weight: normal">&#8221;</FONT></FONT><A NAME="a_DV_M4"></A>).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_C11"></A><FONT STYLE="text-underline-style: none; color: windowtext">WHEREAS<FONT STYLE="font-weight: normal">,
pursuant</FONT></FONT><A NAME="a_DV_M5"></A> to a <A NAME="a_DV_C13"></A>public <FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">rights</FONT><A NAME="a_DV_M6"></A>
offering (the &#8220;<A NAME="a_DV_C16"></A><FONT STYLE="text-underline-style: none; color: windowtext"><I>Rights </I></FONT><A NAME="a_DV_M8"></A><B><I>Offering</I></B>&#8221;),
<A NAME="a_DV_C17"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">the </FONT><A NAME="a_DV_M9"></A>record<A NAME="a_DV_C19"></A>
a<FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">nd beneficial holders of the Corporation&#8217;s
common stock, no par value per share (the &#8220;</FONT><FONT STYLE="text-underline-style: none; color: windowtext"><I>Common Stock</I><FONT STYLE="font-weight: normal">&#8221;)
will be given the right (the &#8220;</FONT><I>Subscription Rights</I><FONT STYLE="font-weight: normal">&#8221;) to subscribe for
an aggregate of approximately </FONT></FONT>1,750,000 <FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">shares
of Common Stock, in each case as more fully set forth in a prospectus and related offering documents (the &#8220;</FONT><FONT STYLE="text-underline-style: none; color: windowtext"><I>Offering
Documents</I><FONT STYLE="font-weight: normal">&#8221;) to be prepared by the Corporation and filed with the Securities and Exchange
Commission for the purpose of effecting the Rights Offering; and</FONT></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_C20"></A><FONT STYLE="text-underline-style: none; color: windowtext">WHEREAS<FONT STYLE="font-weight: normal">,
the</FONT></FONT><A NAME="a_DV_M12"></A> Corporation has authorized and directed the <A NAME="a_DV_M13"></A>Agent to hold <A NAME="a_DV_M14"></A>funds<A NAME="a_DV_C23"></A><A NAME="a_DV_C24"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">submitted
by shareholders who exercise Subscription Rights</FONT><A NAME="a_DV_M16"></A> (the &#8220;<B><I>Subscription Funds</I></B>&#8221;)
in accordance with the <A NAME="a_DV_M17"></A>terms and <A NAME="a_DV_M18"></A>provisions<A NAME="a_DV_C28"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
of this Agreement</FONT><A NAME="a_DV_M20"></A>; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M21"></A><B>WHEREAS</B>,
upon the terms and conditions set forth in the <A NAME="a_DV_C29"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">applicable
</FONT><A NAME="a_DV_M22"></A>Offering <A NAME="a_DV_C31"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Documents</FONT><A NAME="a_DV_M23"></A>,
the Agent will record <A NAME="a_DV_C33"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">properly
exercised Subscription Rights from holders of the Common Stock on the Record Date (as defined in the applicable Offering Documents)</FONT><A NAME="a_DV_M24"></A>,
as well as record and deposit the Subscription <A NAME="a_DV_C35"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Funds</FONT><A NAME="a_DV_M25"></A>
for the purchase of the <A NAME="a_DV_C36"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">shares
of Common Stock pursuant to the Rights </FONT><A NAME="a_DV_M26"></A>Offering<A NAME="a_DV_C38"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">;
and </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M27"></A><B>WHEREAS</B>,
the Corporation desires that Broadridge<A NAME="a_DV_M28"></A> act as <A NAME="a_DV_C40"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">both
</FONT><A NAME="a_DV_M29"></A>Subscription Agent<A NAME="a_DV_M30"></A> and Information Agent <A NAME="a_DV_C43"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">under</FONT><A NAME="a_DV_M31"></A>
the <A NAME="a_DV_C45"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights Offering</FONT><A NAME="a_DV_M32"></A>
(the &#8220;<B><I>Agent</I></B>&#8221;), and Broadridge<A NAME="a_DV_M33"></A> has indicated its willingness to do so.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M34"></A><B>NOW,
THEREFORE</B>, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M35"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>1. Appointment of Subscription and Information Agent</B>.
The Corporation hereby confirms the appointment of Broadridge<A NAME="a_DV_C48"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
as</FONT><A NAME="a_DV_M36"></A> Agent, and Broadridge<A NAME="a_DV_M38"></A> hereby agrees to serve as <A NAME="a_DV_C51"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Agent</FONT><A NAME="a_DV_M39"></A>,
upon the terms and conditions set forth herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M40"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>2. Acceptance and Receipt of Subscription Documents</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M41"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A. After receiving from the Corporation acknowledgement of the <A NAME="a_DV_C53"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">commencement</FONT><A NAME="a_DV_M42"></A>
of the <A NAME="a_DV_C54"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights </FONT><A NAME="a_DV_M43"></A>Offering<A NAME="a_DV_M44"></A>,
the Agent shall <A NAME="a_DV_C57"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">promptly</FONT><A NAME="a_DV_M45"></A>
mail to each holder of <A NAME="a_DV_M46"></A>Common Stock <A NAME="a_DV_M47"></A>as of the Record Date <A NAME="a_DV_C62"></A><A NAME="a_DV_M48"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">(a)&nbsp;the
appropriate Offering Documents</FONT><A NAME="a_DV_M49"></A> as approved by the Corporation (which shall specify that <A NAME="a_DV_M50"></A>the
<A NAME="a_DV_C64"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">exercise of </FONT><A NAME="a_DV_M51"></A>Subscription
R<A NAME="a_DV_C66"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ights</FONT><A NAME="a_DV_M52"></A>
shall be effected, and risk of loss of <A NAME="a_DV_M53"></A>Subscription Funds shall pass, only upon receipt by the Agent of
the<A NAME="a_DV_M55"></A> properly completed Subscription <A NAME="a_DV_C70"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Certificate
(as defined in the Offering Documents) and Subscription</FONT><A NAME="a_DV_M57"></A> Funds required to effect the <A NAME="a_DV_C71"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">exercise
of </FONT><A NAME="a_DV_M58"></A>Subscription <A NAME="a_DV_C73"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights
under</FONT><A NAME="a_DV_M59"></A> the<A NAME="a_DV_C74"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
Rights</FONT><A NAME="a_DV_M60"></A> Offering) and (b)&nbsp;an envelope addressed to the Agent for use by such
holder in <A NAME="a_DV_C76"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">exercising</FONT><A NAME="a_DV_M61"></A>
his or her Subscription <A NAME="a_DV_C78"></A>R<FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ights</FONT><A NAME="a_DV_M62"></A>
(the &#8220;<B><I>Mailing</I></B>&#8221;).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="OLE_LINK3"></A><A NAME="a_DV_C79"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">&#9;B.&#9;</FONT><A NAME="a_DV_M63"></A>The
Agent, upon receipt of <A NAME="a_DV_C80"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Subscription
Funds and </FONT><A NAME="a_DV_M64"></A>duly, completely and correctly executed <A NAME="a_DV_C82"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Subscription
Certificates and other documents for the exercise of Subscription Rights</FONT><A NAME="a_DV_M65"></A>, shall make note of such
<A NAME="a_DV_C84"></A>S<FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ubscriptions</FONT><A NAME="a_DV_M66"></A>
and<A NAME="a_DV_C85"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext"> Subscription</FONT><A NAME="a_DV_M67"></A>
Funds with respect of the amount of<A NAME="a_DV_C86"></A> <A NAME="a_DV_C87"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">shares</FONT><A NAME="a_DV_M68"></A>
subscribed for.<A NAME="a_DV_M69"></A> <A NAME="a_DV_M70"></A>Upon closing of the <A NAME="a_DV_C88"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights
</FONT><A NAME="a_DV_M71"></A>Offering <A NAME="a_DV_M72"></A>and as promptly as feasible upon the <A NAME="a_DV_M73"></A>Agent&#8217;s
receipt of the Corporation&#8217;s acceptance and approval of said Subscription Certificates<A NAME="a_DV_M74"></A>, (i) the <A NAME="a_DV_C93"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Corporation</FONT><A NAME="a_DV_M75"></A>
will authorize the Agent to <A NAME="a_DV_M76"></A>no longer accept any subscription documents and to prepare the final subscription
list, representing the number of shares of Common Stock for which each shareholder has subscribed, for the issuance of stock certificates
by Broadridge in its capacity as the Corporation&#8217;s transfer agent, <A NAME="a_DV_M77"></A><A NAME="a_DV_M78"></A><A NAME="a_DV_M79"></A><A NAME="a_DV_M80"></A>(the
&#8220;<B><I>Certificates</I></B>&#8221;)<A NAME="a_DV_M81"></A> and (ii) the Agent will release to <A NAME="a_DV_M82"></A>the<A NAME="a_DV_C105"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
Corporation the aggregate</FONT><A NAME="a_DV_M83"></A> Subscription Funds minus any fees and expense reimbursements (incurred
or reserved for disbursements) due to the <A NAME="a_DV_M84"></A>Agent from the <A NAME="a_DV_C108"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Corporation</FONT><A NAME="a_DV_M85"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
pursuant to the terms of this Agreement</FONT> (sections (i) and (ii) directly preceding constituting the &#8220;<B><I>Closing</I></B>&#8221;).
No interest on the Subscription Funds will accrue to either the Corporation or the Corporation&#8217;s shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M86"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>3. Notification and Processing</B>.<A NAME="a_DV_M87"></A>
The Agent is hereby authorized and directed to, and hereby agrees to, perform certain functions, including but not limited to the
following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M88"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A. Accept and respond to all telephone requests from shareholders for information relative to the <A NAME="a_DV_C110"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">exercise
of Subscription Rights</FONT><A NAME="a_DV_M89"></A> (except that Agent will not answer questions relating to the sufficiency of
the consideration or the tax implications of the <A NAME="a_DV_C111"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights
</FONT><A NAME="a_DV_M90"></A>Offering); <A NAME="a_DV_M91"></A>answer questions regarding the proper method of <A NAME="a_DV_C113"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">exercising
Subscription Rights, including the completion of Subscription Certificates and other documents related to the Rights Offering;</FONT><A NAME="a_DV_M92"></A>
maintain a toll-free number to respond to inquiries; provide assistance to holders of <A NAME="a_DV_M94"></A>Common Stock and monitor
the response to the <A NAME="a_DV_C115"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Rights
</FONT><A NAME="a_DV_M95"></A>Offering; <A NAME="a_DV_M96"></A>enclose and re-mail the Subscriptions to interested holders of <A NAME="a_DV_M97"></A>Common
Stock<A NAME="a_DV_M98"></A>; and provide periodic reports as requested to the Corporation as to the status of the <A NAME="a_DV_C120"></A>R<FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ights
Offering</FONT><A NAME="a_DV_M99"></A>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M100"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>B. Date stamp each document relating to its duties hereunder when received.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M101"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>C. Receive and examine all <A NAME="a_DV_C122"></A>d<FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ocuments</FONT><A NAME="a_DV_M102"></A>
submitted <A NAME="a_DV_C124"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">to it in connection
with the exercise of rights under the Rights</FONT><A NAME="a_DV_M103"></A> Offering for proper execution in accordance with the
terms thereof. If <A NAME="a_DV_C125"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Common
Stock applicable to a subscription is held by </FONT><A NAME="a_DV_M104"></A>more than one <A NAME="a_DV_M105"></A>record holder<A NAME="a_DV_C128"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">,
the applicable Offering Documents</FONT><A NAME="a_DV_M106"></A> must be signed by each<A NAME="a_DV_C129"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
such</FONT><A NAME="a_DV_M107"></A> holder; if a holder or joint holders (registrants) hold more than one position in the Corporation,
as indicated by different accounts on the relevant record holder list, <A NAME="a_DV_C131"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">then</FONT><A NAME="a_DV_M108"></A>
separate, properly completed and executed <A NAME="a_DV_C133"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">subscriptions</FONT><A NAME="a_DV_M109"></A>
must be submitted for each such position held by that or those joint holders (registrants).<A NAME="a_DV_M110"></A></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>D. Retain or return to any holders (as applicable) those <A NAME="a_DV_C135"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Offering
Documents</FONT><A NAME="a_DV_M111"></A> evidencing some deficiency in execution and make reasonable attempts to inform such holders
of the need to correct any such deficiency; <FONT STYLE="color: black">In any instance where the Agent cannot reconcile such deficiencies,
the Agent shall consult with the Corporation for instructions as to whether the Agent may accept such exercise of Subscription
Rights. In the absence of such instructions by</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Corporation in writing or email within
twenty-four (24) hours after Agent first requests such instructions, Agent is authorized not to accept such exercise of Subscription
Rights and shall notify the exercising shareholder that its exercise is deficient.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M112"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>E. Accept <A NAME="a_DV_C137"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Subscription
Certificates and other documents</FONT><A NAME="a_DV_M113"></A> signed by persons acting in a fiduciary or representative capacity
only if such capacity is properly shown on the <A NAME="a_DV_C139"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">subscriptions</FONT><A NAME="a_DV_M114"></A>
and proper evidence of their authority so to act has been submitted.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M116"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>F. Accept <A NAME="a_DV_C141"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">subscriptions</FONT><A NAME="a_DV_M117"></A>
for <A NAME="a_DV_C143"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Common Stock</FONT><A NAME="a_DV_M118"></A>
to be issued other than in the name that appears on the Corporation record <FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">shareholder</FONT><A NAME="a_DV_M119"></A>
list submitted for <A NAME="a_DV_C147"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">such
subscription</FONT><A NAME="a_DV_M120"></A>, where (<A NAME="a_DV_C149"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">i</FONT><A NAME="a_DV_M121"></A>)&nbsp;the
signature thereon is guaranteed by a financial institution that is a participant in the Securities Transfer Agents Medallion Program
(&#8220;<B><I>STAMP</I></B>&#8221;), the New York Stock Exchange, Inc. Medallion Signature Program (&#8220;<B><I>MSP</I></B>&#8221;),
or The Stock Exchanges Medallion Program (&#8220;<B><I>SEMP</I></B>&#8221;), (<A NAME="a_DV_C151"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">ii</FONT><A NAME="a_DV_M122"></A>)&nbsp;any
necessary stock transfer taxes are paid and proof of such payment is submitted or funds therefore are provided to the Agent, or
it is established by the holder that no such taxes are due and payable<A NAME="a_DV_M123"></A> and (<A NAME="a_DV_C153"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">iii</FONT><A NAME="a_DV_M124"></A>)&nbsp;the
&#8220;Special Issuance Instructions&#8221; <A NAME="a_DV_C155"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">on</FONT><A NAME="a_DV_M125"></A>
the <A NAME="a_DV_C157"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Subscription Certificate</FONT><A NAME="a_DV_M126"></A>
have been properly completed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M127"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>G. Retain all <FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">Subscription Certificates
and other subscription documents</FONT> and retain such documents pending further instructions from the Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M129"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>H. Return at the Corporation&#8217;s request any and all necessary records, information and material concerning and representing
<A NAME="a_DV_C161"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">unsubscribed</FONT><A NAME="a_DV_M130"></A>
Common Stock<A NAME="a_DV_C162"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext"> under the
Rights Offering</FONT><A NAME="a_DV_M131"></A>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M132"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>I. Maintain on a continuing basis a list of holders of <A NAME="a_DV_M133"></A>Common Stock that have not yet <A NAME="a_DV_C165"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">subscribed
pursuant to the Rights Offering</FONT><A NAME="a_DV_C166"></A>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M135"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>
</B></FONT><B>4. Concerning the Subscription and Information Agent</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M136"></A>The
Agent:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">A.<A NAME="a_DV_M137"></A></TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">Shall have no duties or obligations other than those set forth herein, including those described
under &#8220;Included Services&#8221; on <U>Exhibit A</U>, and no duties or obligations shall be inferred or implied, nor shall
Agent be obligated nor expected to perform those services described under &#8220;Non-Included Services&#8221; on <U>Exhibit A</U></FONT><A NAME="a_DV_M138"></A><FONT STYLE="color: black">.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">B.</TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">May rely on<A NAME="a_DV_C169"></A></FONT><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">,</FONT><A NAME="a_DV_M139"></A>
and shall be held harmless by<A NAME="a_DV_C171"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">,</FONT><A NAME="a_DV_M140"></A>
the Corporation in acting upon any certificate, statement, instrument, opinion, notice, letter, facsimile transmission, telegram
electronic mail or other document, or any security delivered to it, and reasonably believed by it to be genuine and to have been
made or signed by the proper party or parties.<FONT STYLE="color: black">.</FONT></TD>
</TR></TABLE>



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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">D.</TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">May consult on documents with counsel satisfactory to it (including counsel for the Corporation) and shall be held harmless
by the Corporation in relying on the advice or opinion of such counsel in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with such advice or opinion
of such counsel;<A NAME="a_DV_M143"></A>.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">E.</TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">Shall be held harmless by the Corporation in respect of any action taken, suffered or omitted by Agent hereunder in good
faith and in accordance with its determination and shall not be obligated to take any legal or other action hereunder which might, in its good faith judgment, subject or expose it to any expense or liability unless it shall have
been furnished with an indemnity satisfactory to it.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">F.</TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">Shall not be liable or responsible for any recital or statement contained in any Offering
Document or any other documents relating thereto; and</FONT></TD>
</TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0.5in; width: 92%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 20pt; text-align: right">G.</TD><TD STYLE="width: 15pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><FONT STYLE="color: black">Shall not be liable or responsible for any failure of the Corporation to comply with any of
its obligations relating to the Offering, including without limitation obligations under applicable regulation or law.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M146"></A>This
Agreement does not contemplate any service to be provided by Agent in the case where the conditions of the<A NAME="a_DV_C174"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
Rights</FONT><A NAME="a_DV_M147"></A> Offering have not been met in a timely manner. If necessary, service to be provided by Agent
under such circumstances, and remuneration to Agent therefore, will be established in a mutual agreement between Agent and the
Corporation, which will become a part of this Agreement.<A NAME="a_DV_M148"></A></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M149"></A>No
later than the business day after the Mailing<A NAME="a_DV_M150"></A>, the Corporation will provide Agent with a list of talking
points dealing with <A NAME="a_DV_M151"></A>anticipated questions from holders of <A NAME="a_DV_M152"></A>Common Stock. It is understood
and agreed that Agent will not provide tax advice, will not interpret tax regulations, will not opine regarding the merits of the<A NAME="a_DV_C178"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">
Rights</FONT><A NAME="a_DV_M153"></A> Offering, and will not provide any comments related to any legal proceedings related to the
Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M154"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT><B>5. Compensation of the Agent by the Corporation</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M155"></A>The
Corporation shall pay fees for the services rendered hereunder, as set forth in the Fee Schedule (attached hereto as <U>Exhibit
A</U>). The Agent shall also be entitled to reimbursement from the Corporation for all reasonable and necessary expenses paid or
incurred by it in connection with the administration by the Agent of its duties hereunder. <A NAME="a_DV_C179"></A>One half of
the total Agent fees (not including postage) must be paid upon execution of this Agreement. The remaining half must be paid within
fifteen (15) business days thereafter. <A NAME="a_DV_M156"></A>An invoice for any out-of-pocket and/or per item fees incurred will
be rendered to and payable by the Corporation within fifteen (15) days of the date of said invoice, except for invoiced estimated
postage, printing and mailing expenses, which funds must be received five (5) business days prior to the scheduled Mailing date.
It is understood and agreed that all responsibilities and duties of, and services to be performed by, Agent shall cease if full
payment for its services has not been received in accordance with the above schedule, and said services will not commence thereafter
until all payment due has been received by Agent.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M157"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>6. Reminder Mailings.</B> The Corporation agrees that
any follow up mailing program will be coordinated exclusively through Agent, either by Agent or using a vendor that Agent has previously
approved. Agent may conduct follow up mailings through electronic mail, to the extent the email address of the intended recipient
Shareholder has been provided by Corporation to Agent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M162"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>7. Performance</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M163"></A>The
Agent shall at all times act in good faith and agrees to use its commercially reasonable efforts within reasonable time limits
to insure the accuracy and timeliness of all services performed under this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M164"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>8. Indemnification, Limitation of Liability</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M165"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A. The Corporation <A NAME="a_DV_M166"></A>covenants<A NAME="a_DV_M167"></A> and <A NAME="a_DV_C186"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">agrees</FONT><A NAME="a_DV_M168"></A>
to indemnify and to hold the Agent harmless against any claims, actions, judgments, liabilities, costs, expenses (including reasonable
fees of its legal counsel), losses or damages, which may be paid, incurred or suffered by or to which it may become subject, arising
from or out of its duties under this Agreement. Promptly after the receipt by the Agent of notice of any demand or claim, or the
commencement of any action, suit, proceeding or investigation, the Agent shall<A NAME="a_DV_M170"></A> notify the Corporation thereof
in writing. The Corporation shall be entitled to participate at its own expense in the defense of any such claim or proceeding,
and, if it so elects at any time after receipt of such notice, it may assume the defense of any suit brought to enforce any such
claim or of any other legal action or proceeding. <A NAME="a_DV_M171"></A>Agent will not, without the Corporation&#8217;s prior
consent, settle or compromise or consent to the entry of any judgment to any pending or threatened Action in respect of which indemnification
may be sought hereunder. <A NAME="a_DV_M172"></A>For the purposes of this Section&nbsp;<A NAME="a_DV_C189"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">8,</FONT><A NAME="a_DV_M173"></A>
the phrase &#8220;any costs, expenses (including reasonable fees of its legal counsel), losses or damages&#8221; means any amount
paid or payable to satisfy any claim, demand, action, suit or proceeding settled, and all reasonable costs and expenses, including,
but not limited to, reasonable counsel fees and disbursements, paid or incurred in investigating or defending against any such
action, suit, proceeding or investigation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>B. <FONT STYLE="color: black">Except in the case of Agent&#8217;s gross negligence, willful misconduct or fraud, Agent&#8217;s
aggregate liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement,
or from all services provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is
limited to, and shall not exceed, the amounts paid or payable hereunder by the Corporation to Agent as fees and charges, but not
including reimbursable expenses.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>C. <FONT STYLE="color: black">In the event any question or dispute arises with respect to the proper interpretation of this
Agreement or Agent&#8217;s duties hereunder or the rights of the Corporation or of any Shareholders exercising Subscription Rights,
Agent shall not be required to act and shall not be held liable or responsible for refusing to act until the question or dispute
has been judicially settled (and Agent may, if it deems it advisable, but shall not be obligated to, file a suit in interpleader
or for a declaratory judgment for such purpose) by final judgment rendered by a court of competent jurisdiction, binding on all
shareholders and parties interested in the matter which is no longer subject to review or appeal, or settled by a written document
in form and</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">substance satisfactory to Agent and
executed by the Corporation and each such shareholder and party. In addition, Agent may require for such purpose, but shall not
be obligated to require, the execution of such written settlement by all the shareholders and all other parties that may have an
interest in the settlement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M174"></A><A NAME="a_DV_M175"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>9. Further Assurance</B>. <A NAME="a_DV_M176"></A>From
time-to-time and after the date hereof, the Corporation shall deliver or cause to be delivered to the Agent such further documents
and instruments and shall do and cause to be done such further acts as the Agent shall reasonably request (it being understood
that the Agent shall have no obligation to make any such request) to carry out more effectively the provisions and purposes of
this Agreement, to evidence compliance herewith or to assure itself that it is protected in acting hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M177"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>10. Term</B>. <A NAME="a_DV_M178"></A>The Corporation
may terminate this Agreement at any time by providing 60&nbsp;days written notification to the Agent, except that the Corporation
may promptly terminate this Agreement if Agent is unable to perform any of its material obligations under this Agreement for five
consecutive business days due to event or circumstances described in Section&nbsp;17 below. The Agent may terminate this Agreement
by providing the Corporation 60&nbsp;days&#8217; written notice, <A NAME="a_DV_M179"></A>except that Agent may terminate this agreement
at any time Corporation has not paid in full an invoice from the Agent within the time period described in section five (5) herein<A NAME="a_DV_M180"></A>.
Upon the effective date of termination of this Agreement, all cash and other payments, without interest, and all other property
then held by the Agent on behalf of the holders of <A NAME="a_DV_M181"></A>Common Stock hereunder shall be delivered by it to such
successor agent or as otherwise shall be designated in writing by the parties hereto. Upon termination of this Agreement, all <A NAME="a_DV_C194"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">subscription</FONT><A NAME="a_DV_M182"></A>
documents received and related documentation will be returned to the Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M183"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>11. Notices</B>. <A NAME="a_DV_M184"></A>Until further
notice in writing by either party hereto to the other party, all written reports, notices and other communications between the
Agent and the Corporation required or permitted hereunder shall be delivered or mailed by first class mail, postage prepaid, addressed
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><A NAME="a_DV_M185"></A>If to the Corporation, to:</TD>
    <TD STYLE="width: 54%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Pro-Dex, Inc.<BR>
        2361 McGaw Avenue<BR>
        Irvine, CA 92614<BR>
        Attn: Chief Executive Officer</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">with a copy to (which shall<BR>not constitute notice to<BR>the Corporation):</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rutan &amp; Tucker, LLP</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">611 Anton Blvd., Suite 1400<BR>
        Costa Mesa, CA 92626</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Attn: Garett Sleichter</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">If to the Agent, to:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Broadridge Corporate Issuer Solutions, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1717 Arch Street, Suite 1300</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Philadelphia, PA 19103</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attn: Re-Organization Department</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M186"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>12. Governing Law</B>. <A NAME="a_DV_M187"></A>This
Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania and shall inure to
the benefit of, and the obligations created hereby shall be binding upon, the successors and assigns of the parties hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M188"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>13. Assignment</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M189"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A. Except as provided in Section&nbsp;13(B) below, neither this Agreement nor any rights or obligations hereunder may be
assigned by either party without the written consent of the other party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M190"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>B. The Agent may, without further consent on the part of the Corporation, subcontract with subcontractors for systems, processing,
telephone and mailing services, and reminder mailing activities, as may be required from time to time; provided, however, that
the Agent shall be fully responsible to the Corporation for the acts and omissions of any subcontractor.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M191"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>C. &nbsp;Except as explicitly stated elsewhere in this Agreement, nothing under this Agreement shall be construed to give any
rights or benefits in this Agreement to anyone other than the Agent and the Corporation and the duties and responsibilities undertaken
pursuant to this Agreement shall be for the sole and exclusive benefit of the Agent and the Corporation. This Agreement shall inure
to the benefit of and be binding upon the parties and their respective permitted successors and assigns.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M192"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>14. Amendment</B>. <A NAME="a_DV_M193"></A>This Agreement
may not be modified, amended or supplemented without an express written agreement executed by each of the parties hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M194"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>15. Counterparts</B>. <A NAME="a_DV_M195"></A>This
Agreement may be executed in separate counterparts, each of which, when executed and delivered, shall be an original, but all such
counterparts shall together constitute but one and the same instrument.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M196"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B>16. No Joint Venture</B>. <A NAME="a_DV_M197"></A>This
Agreement does not constitute an agreement for a partnership or joint venture between the Agent and the Corporation. Neither party
shall make any commitments with third parties that are binding on the other party without the other party&#8217;s prior written
consent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M198"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">17. </FONT>Force Majeure</B>. <A NAME="a_DV_M199"></A>In the
event either party is unable to perform its obligations under the terms of this Agreement because of acts of God, strikes, equipment
or transmission failure or damage that is reasonably beyond its control, or other cause that is reasonably beyond its control (except,
in the case of the Agent, for acts of subcontractors), such party shall not be liable for damages to the other for any damages
resulting from such failure to perform or otherwise from such causes. Subject to prior termination of this Agreement, performance
under this Agreement shall resume when the affected party or parties are able to perform substantially that party&#8217;s duties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M200"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">18. </FONT>Consequential Damages</B>. <A NAME="a_DV_M201"></A>Neither
party to this Agreement shall be liable for any consequential, indirect, special or incidental damages under any provision of this
Agreement or for any consequential, indirect, penal, special or incidental damages arising out of any act or failure to act hereunder even if that
party has been advised of or has foreseen the possibility of such damages.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M204"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">19. </FONT><FONT STYLE="color: black"></FONT>Severability</B>. <A NAME="a_DV_M203"></A>If any
provision of this Agreement shall be held invalid, unlawful, or unenforceable, the validity, legality, and enforceability of the
remaining provisions shall not in any way be affected or impaired.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M205"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">20. </FONT><FONT STYLE="color: black">Confidentiality.</FONT></B><FONT STYLE="color: black">
The Agent and the Corporation agree that all books, records, information and data pertaining to the business of the other party
which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement, including the fees for services
set forth in the attached schedule, shall remain confidential and shall not be voluntarily disclosed to any third party (except
the party&#8217;s attorneys, advisors and affiliates), except with the written approval of the other party or as may be required
by law or regulatory authority, including, without limitation, any obligation of the Corporation to file a copy of this Agreement
via the Securities and Exchange Commissions&#8217; EDGAR filing service. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M206"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">21. </FONT>Survival</B>. <A NAME="a_DV_M207"></A>The provisions
of Sections&nbsp;4, 5, 8, 11, 12, 13, <A NAME="a_DV_C196"></A><FONT STYLE="font-weight: normal; text-underline-style: none; color: windowtext">18,
20, 21 and </FONT>22 shall survive any termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M209"></A><FONT STYLE="font: 7pt Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><B><FONT STYLE="font: 12pt Times New Roman, Times, Serif">22. </FONT>Merger of Agreement</B>. <A NAME="a_DV_M210"></A>This
Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject
matter hereof whether oral or written.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M211"></A><B>IN
WITNESS WHEREOF</B>, the parties hereto have caused this Agreement to be executed by their respective officers, hereunto duly authorized,
as of the day and year first above written.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: left; text-indent: 0in; vertical-align: middle">BROADRIDGE CORPORATE ISSUER<BR>SOLUTIONS, INC.</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0in">PRO-DEX, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">By:
    &nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ John Dunn&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">By:
    &nbsp;&nbsp;&nbsp;<U>/s/ Harold A. Hurwitz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">Title:&nbsp;&nbsp;Vice President</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">Title:&nbsp;CEO<A NAME="a_DV_M213"></A><A NAME="a_DV_M214"></A><A NAME="a_DV_M215"></A></TD></TR>
</TABLE>

















<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U><A NAME="a_DV_M0"></A><A NAME="a_DV_M216"></A><A NAME="a_DV_M217"></A><A NAME="a_DV_M218"></A><A NAME="a_DV_M219"></A><A NAME="a_DV_M220"></A><A NAME="a_DV_M222"></A><A NAME="a_DV_M223"></A><A NAME="a_DV_M224"></A><A NAME="a_DV_M225"></A><A NAME="a_DV_M226"></A><A NAME="a_DV_M228"></A><A NAME="a_DV_M229"></A><A NAME="a_DV_M230"></A><A NAME="a_DV_M231"></A><A NAME="a_DV_M232"></A><A NAME="a_DV_M234"></A><A NAME="a_DV_M235"></A><A NAME="a_DV_M236"></A><A NAME="a_DV_M237"></A><A NAME="a_DV_M240"></A><A NAME="a_DV_M241"></A><A NAME="a_DV_M242"></A><A NAME="a_DV_M243"></A><A NAME="a_DV_M244"></A><A NAME="a_DV_M245"></A><A NAME="a_DV_M246"></A><A NAME="a_DV_M248"></A><A NAME="a_DV_M251"></A><A NAME="a_DV_M253"></A><A NAME="a_DV_M254"></A><A NAME="a_DV_M255"></A><A NAME="a_DV_M256"></A><A NAME="a_DV_M257"></A><A NAME="a_DV_M259"></A><A NAME="a_DV_M260"></A><A NAME="a_DV_M261"></A><A NAME="a_DV_M262"></A><A NAME="a_DV_M263"></A><A NAME="a_DV_M264"></A><A NAME="a_DV_M265"></A><A NAME="a_DV_M266"></A><A NAME="a_DV_M267"></A><A NAME="a_DV_M269"></A><A NAME="a_DV_M270"></A><A NAME="a_DV_M271"></A><A NAME="a_DV_M272"></A><A NAME="a_DV_M273"></A><A NAME="a_DV_M274"></A><A NAME="a_DV_M275"></A><A NAME="Cell_Ins"></A><A NAME="Cell_Del"></A><A NAME="Cell_Move"></A><A NAME="Cell_Merge"></A><A NAME="Cell_Pad"></A>
</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U><B>Exhibit A</B></U></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AGENT FEES AND INCLUDED SERVICES</B></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">Subscription and Information Agent Fee
of $7,500.00, plus $10.00 <FONT STYLE="color: windowtext">for each line item on Depository Trust Company's ATOP forms submitted
to Agent. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Plus reasonable out of pocket expenses, including but not limited
to, checks, stop check charges, printing costs, postage (at 1.1 times rate), wire transfers, excess material disposal, overtime
charges at 100% assessed in the event of late delivery of material for Mailing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">INCLUDED SERVICES</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Designating a corporate action account manager to communicate with all parties hereto and their counsel to establish the terms,
timing and procedures required to carry out Subscription Agent duties, including document review and execution of legal <A NAME="a_DV_C209"></A><FONT STYLE="font-weight: normal; text-underline-style: none">agreements</FONT>,
Subscription<A NAME="a_DV_C210"></A><FONT STYLE="font-weight: normal; text-underline-style: none"> Certificates and other Rights
Offering</FONT> documents and communication materials, project management, and on-going project updates and reporting<A NAME="a_DV_C211"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Designating an Information Agent account manager to review and become familiar with all <A NAME="a_DV_C213"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Offer
Documents</FONT> and provide expert assistance to holders of <A NAME="a_DV_M227"></A>Common Stock related to matters concerning
the <A NAME="a_DV_C216"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Rights Offering</FONT>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Preparing labels that include name, address for the mailing of<A NAME="a_DV_C221"></A><FONT STYLE="font-weight: normal; text-underline-style: none">
Offering Documents</FONT><A NAME="a_DV_C223"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Collating and assembling <A NAME="a_DV_C225"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Offering Documents</FONT>
and envelopes for mailing<A NAME="a_DV_C226"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Addressing and enclosing <A NAME="a_DV_C228"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Offering Documents</FONT>
and return envelopes, for one-time, one-day mailing to holders of <A NAME="a_DV_M238"></A>Common Stock<A NAME="a_DV_M239"></A>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Receiving, opening and logging in returned <A NAME="a_DV_C232"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Subscription
Certificates.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Checking <A NAME="a_DV_C234"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Subscription Certificates</FONT>
for validity against master list<A NAME="a_DV_C235"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Checking for proper execution of all <A NAME="a_DV_C237"></A><FONT STYLE="font-weight: normal; text-underline-style: none">of
Subscription Certificates and other documents necessary to effect a proper exercise of Subscription Rights</FONT>, including W-9&#8217;s<A NAME="a_DV_C238"></A><FONT STYLE="font-weight: normal; text-underline-style: none">
(if applicable).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Curing defective <A NAME="a_DV_C240"></A><FONT STYLE="font-weight: normal; text-underline-style: none">subscriptions</FONT>,
including telephoning and writing holders of <A NAME="a_DV_M247"></A>Common Stock in connection with unsigned or improperly executed
<A NAME="a_DV_C243"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Subscription Certificates and other Offering
Documents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Soliciting by mail W-9&#8217;s from holders of <A NAME="a_DV_M249"></A>Common Stock<A NAME="a_DV_M250"></A> who have not executed
them or whose TIN&#8217;s do not match our records<A NAME="a_DV_C246"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Tracking and reporting as required the number of <A NAME="a_DV_C253"></A><FONT STYLE="font-weight: normal; text-underline-style: none">shares
of Common Stock</FONT> to which shareholders have subscribed.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Sealing, addressing, posting (not including postage), and providing envelopes for mailing to holders of <A NAME="a_DV_M258"></A>Common
Stock<A NAME="a_DV_C256"></A><FONT STYLE="font-weight: normal; text-underline-style: none">.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Providing <FONT STYLE="font-weight: normal; text-underline-style: none">shareholder</FONT> relations services to all holders
of <A NAME="a_DV_M268"></A>Common Stock related to the <A NAME="a_DV_C271"></A><FONT STYLE="font-weight: normal; text-underline-style: none">Rights
</FONT>Offering, including phone, email, and regular mail inquiries.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: center">NON-INCLUDED SERVICES</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Services associated with new duties, legislation or regulations which become effective after the date of this Agreement (these
will be provided on an appraisal basis)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Reasonable legal review fees if referred to outside counsel</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Overtime charges at 100% assessed in the event of late delivery of material for mailings, unless the target mail date is rescheduled</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dedicated Toll Free 800 Number</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">10</P>



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<FILENAME>ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>STANDBY PURCHASE AGREEMENT</U></B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This STANDBY PURCHASE
AGREEMENT (this &#8220;<U>Agreement</U>&#8221;) is made and entered into on December 17, 2013, by and among AO Partners, LLC, a Minnesota
limited liability company (together with its permitted designees pursuant to <U>Section&nbsp;14</U> below, &#8220;<U>AOP</U>&#8221;),
Farnam Street Capital, Inc., a Minnesota corporation (together with its permitted designees pursuant to <U>Section&nbsp;14</U>
below, &#8220;<U>FSP</U>&#8221; and, together with AOP, each a &#8220;<U>Standby Purchaser</U>&#8221; and collectively the &#8220;<U>Standby
Purchasers</U>&#8221;), and Pro-Dex, Inc., a Colorado corporation (the &#8220;<U>Company</U>&#8221;).</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
proposes to distribute, at no charge, to each holder of record of shares of common stock, no par value per share, of the Company
(the &#8220;<U>Common Stock</U>&#8221;), on a record date (the &#8220;<U>Record Date</U>&#8221;) to be set by the Board of Directors
(&#8220;<U>Board</U>&#8221;) of the Company, non-transferable rights (the &#8220;<U>Rights</U>&#8221;) to subscribe for and purchase
additional shares of Common Stock (the &#8220;<U>Rights Offering</U>&#8221;);</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
desires to raise a total of $3,000,000 in connection with the Rights Offering;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection
with the Rights Offering, the Company&#8217;s shareholders of record as of the Record Date will receive a specified fractional
number of &#8220;<U>Rights</U>&#8221; for each share of Common Stock held as of the Record Date (i.e., for each one (1) share of
Common Stock held as of the Record Date, the shareholder will receive less than one (1) Right, with the actual fraction to be set
by the Board based on the total amount to be raised by the Company in the Rights Offering, the Subscription Price (as defined below)
and the total number of shares of Common Stock to be offered in connection with the Rights Offering);</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, each whole
Right, if and when issued, will entitle the holder thereof to purchase one share of Common Stock (the &#8220;Subscription Privilege&#8221;)
at a specified discount (which discount will be determined by the Board prior to the launch of the Rights Offering) of the market
price of the Common Stock as reported by the NASDAQ Capital Market on the latest practicable date prior to the launch of the Rights
Offering (the &#8220;<U>Subscription Price</U>&#8221;);</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, in order
to facilitate the Rights Offering, the Company has offered to the Standby Purchasers the opportunity, and the Standby Purchasers
have severally (and not jointly) agreed and committed, to purchase at a price per share equal to the Subscription Price (the &#8220;<U>Purchase
Price</U>&#8221;), subject to the terms and conditions of this Agreement (including limitations on the total number of shares of
Common Stock that may be issued under this Agreement), any and all shares of Common Stock that are not subscribed for pursuant
to the Subscription Privilege in the Rights Offering (such shares, the &#8220;<U>Unsubscribed Shares</U>&#8221;, and such offering,
the &#8220;<U>Standby Offering</U>&#8221;).</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AGREEMENT</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in
consideration of the foregoing and the mutual covenants herein contained and other good and valuable consideration, the parties
hereto agree as follows:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 1.&#9;<U>Standby Purchase
Commitment</U>.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>Standby
Purchase Commitment</U>. If and to the extent there remain Unsubscribed Shares after the closing of the Rights Offering, the Standby
Purchasers hereby severally (and not jointly) agree to purchase from the Company at the Purchase Price all such Unsubscribed Shares,
up to the full amount of</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">shares of Common Stock offered by the
Company in the Rights Offering, with each Standby Purchaser agreeing to purchase fifty percent (50%) of such Unsubscribed Shares
(as to each Standby Purchaser, the &#8220;<U>Commitment Amount</U>&#8221;). Each Standby Purchaser (i) acknowledges that its precise
Commitment Amount is yet to be determined based on the Company&#8217;s pending determination of a Rights Offering amount and pricing
within the range specified in the Recitals to this Agreement, and (ii) affirms its agreement to its respective Commitment Amount
provided that it is within such range.<A NAME="eolPage65"></A> For purposes of clarity, unless otherwise agreed by each Standby
Purchaser and the Company in writing, (x) each Standby Purchaser agrees to purchase fifty percent (50%) of the aggregate Common
Stock purchased under this Agreement and (y) each Standby Purchaser&#8217;s aggregate Commitment Amount shall not exceed $1,500,000.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Determination
and Allocation of Unsubscribed Shares</U>. Reasonably promptly following the expiration of the Rights Offering, the Board will
determine the number of Unsubscribed Shares. Reasonably promptly after the Board&#8217;s determination of the number of Unsubscribed
Shares and consideration of the factors described in <U>Section&nbsp;1(e)</U>, the Company will notify each Standby Purchaser in
writing of the amount of Common Stock to be purchased by it under this Agreement (as to each Standby Purchaser, the &#8220;<U>Allocated
Amount</U>&#8221;), which amount shall, subject to <U>Section&nbsp;1(e)</U>, equal the Standby Purchaser&#8217;s Commitment Amount.
Each Standby Purchaser acknowledges that its Allocated Amount is subject to reduction in accordance with <U>Section&nbsp;1(e)</U>
below.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Closing</U>.
On the basis of the representations and warranties and subject to the terms and conditions herein set forth, the closing of the
purchase and sale of each Standby Purchaser&#8217;s Allocated Amount of Common Stock (the &#8220;<U>Closing</U>&#8221;) shall take
place at the offices of the Company at 11:00 a.m., Pacific time, on the third business day following the closing of the Rights
Offering, or such other place, time or date as may be determined by the parties hereto (the &#8220;<U>Closing Date</U>&#8221;).
At the Closing, the Company shall deliver or cause to be delivered to each Standby Purchaser one or more certificates (or evidence
of book-entry records) representing the shares of Common Stock issued to such Standby Purchaser in respect of such Standby Purchaser&#8217;s
Allocated Amount, and such Standby Purchaser shall deliver (or cause to be delivered) to the Company, in cash or other immediately
available funds, the aggregate Purchase Price relating to such shares of Common Stock.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>Withdrawal
and Termination</U>. At any time prior to the Closing, the Company may in its sole discretion withdraw or terminate the Rights
Offering or the Standby Offering. In the event that the Company withdraws or terminates the Rights Offering or the Standby Offering,
the Company will return each Standby Purchaser&#8217;s payment of the Purchase Price, or portion thereof, if any, to the Standby
Purchaser, without interest or other income, promptly thereafter.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(e)&#9;<U>Limitation
on Allocated Amount</U>. In the event that the purchase of all of the Unsubscribed Shares by the Standby Purchasers could, as determined
by the Board in its sole discretion, potentially result in a limitation on the Company&#8217;s ability to use net operating losses,
tax credits and other tax attributes (collectively, &#8220;<U>Tax Attributes</U>&#8221;) under the Internal Revenue Code of 1986,
as amended, and rules promulgated by the Internal Revenue Service, the Company may, but is under no obligation to, reduce each
Standby Purchaser&#8217;s Allocated Amount to such number of shares of Common Stock as the Board in its sole discretion shall determine
to be advisable in order to preserve the Company&#8217;s ability to use the Tax Attributes. <A NAME="eolPage9"></A></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 2.&#9;<U>Representations
and Warranties of each Standby Purchaser</U>.</B> Each Standby Purchaser severally (and not jointly) represents and warrants to
the Company as follows:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>Existence
and Good Standing; Authority</U>. Such Standby Purchaser is an entity duly organized, validly existing and in good standing under
the laws of its jurisdiction of organization and has all requisite power and authority to carry on its business as now conducted.</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Authorization
of Agreement; Enforceability</U>. This Agreement has been duly and validly authorized, executed and delivered by such Standby Purchaser.
This Agreement is valid, binding and enforceable against such Standby Purchaser in accordance with its terms, subject, as to enforcement,
to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors&#8217; rights
and to general equity principals.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Accredited
Investor</U>. Such Standby Purchaser is an &#8220;accredited investor&#8221; as that term is defined in Regulation D promulgated
under the Securities Act of 1933, as amended (the &#8220;<U>Securities Act</U>&#8221;).</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>Information;
Knowledge of Business</U>. Such Standby Purchaser (either alone or through its members and affiliates) is familiar with the business
in which the Company is engaged. Such Standby Purchaser (either alone or through its members and affiliates) has knowledge and
experience in financial and business matters, is familiar with investments of the type that it is undertaking to purchase under
this Agreement, is fully aware of the risks involved in making an investment of this type, and is capable of evaluating the merits
and risks of this investment. Such Standby Purchaser acknowledges that, prior to executing this Agreement, it (and each of its
members, affiliates and representatives) has had the opportunity to ask questions of and receive answers or obtain additional information
from the Company and its management concerning the financial and other affairs of the Company.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(e)&#9;<U>Availability
of Funds</U>. Such Standby Purchaser has available sufficient funds to pay its full Commitment Amount.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(f)&#9;<U>Investment
Intent</U>. Such Standby Purchaser is acquiring its shares of Common Stock under this Agreement for its own account, with the intention
of holding such shares for investment and with no present intention of participating, directly or indirectly, in a distribution
of such shares except pursuant to registration under, or an exemption from the registration requirements of, the Securities Act
and applicable state securities laws.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage66"></A>&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(g)&#9;<U>No Manipulation
or Stabilization of Price</U>. Such Standby Purchaser has not taken and will not take, directly or indirectly, any action designed
to or that would constitute or that might reasonably be expected to cause or result in, under the Securities Exchange Act of 1934,
as amended (the &#8220;<U>Exchange Act</U>&#8221;) or otherwise, stabilization or manipulation of the price of any security of
the Company in order to facilitate the sale or resale of any securities of the Company, and such Standby Purchaser is not aware
of any such action taken or to be taken by any person.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 3.&#9;<U>Representations
and Warranties of the Company</U>.</B> The Company represents and warrants to each Standby Purchaser as follows:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>Existence
and Good Standing; Authority</U>. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Colorado and has all requisite corporate power and authority to carry on its business as now conducted.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Authorization
of Agreement; Enforceability</U>. This Agreement has been duly and validly authorized, executed and delivered by the Company. This
Agreement is valid, binding and enforceable against the Company in accordance with its terms, subject, as to enforcement, to bankruptcy,
insolvency, reorganization and other laws of general applicability relating to or affecting creditors&#8217; rights and to general
equity principals.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Due Authorization
and Issuance of Shares</U>. All of the shares of Common Stock to be issued pursuant to this Agreement will have been duly authorized
for issuance prior to the Closing, and,</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">when paid for, issued and distributed
as set forth in this Agreement, will be validly issued, fully paid and non-assessable; and none of such shares of Common Stock
will have been issued in violation of the preemptive rights of any security holders of the Company arising as a matter of law or
under or pursuant to the Company&#8217;s Articles of Incorporation, as amended (&#8220;<U>Articles of Incorporation</U>&#8221;),
the Company&#8217;s Bylaws, as amended (&#8220;<U>Bylaws</U>&#8221;), or any material agreement or instrument to which the Company
is a party or by which it is bound.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>No Conflicts</U>.
The Company is not in violation of its Articles of Incorporation or Bylaws or in default under any agreement, indenture or instrument
to which the Company is a party, the effect of which violation or default could reasonably be expected to have a material adverse
effect on the Company&#8217;s execution, delivery and performance of this Agreement. The consummation of the transactions contemplated
by this Agreement will not conflict with, constitute a breach of or default under, or result in the creation or imposition of any
lien, charge or encumbrance upon any of the assets of the Company pursuant to, the terms of any agreement, indenture or instrument
to which the Company is a party, which conflict, breach, default, lien, charge or encumbrance could reasonably be expected to have
a material adverse effect on the Company&#8217;s execution, delivery and performance of this Agreement. Except as required by the
Securities Act, the Exchange Act and applicable state securities laws, no consent, authorization or order of, or filing or registration
with, any court or governmental agency is required for the Company&#8217;s execution, delivery and performance of this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 4.&#9;<U>Conditions to Closing</U>.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>Conditions
to Both Parties&#8217; Obligations</U>. The obligations of the Company and each respective Standby Purchaser to consummate the
transactions contemplated hereunder in connection with the Standby Offering are subject to the fulfillment, prior to or on the
Closing Date, of the following conditions:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;the
Rights Offering shall have been consummated in accordance with the terms and conditions described in the prospectus to be filed
by the Company with the Securities and Exchange Commission (the &#8220;<U>Commission</U>&#8221;) in connection with the Rights
Offering (the &#8220;<U>Prospectus</U>&#8221;); and</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;no
judgment, injunction, decree, regulatory proceeding or other legal restraint shall prohibit, or have the effect of rendering unachievable,
the consummation of the Standby Offering or the transactions contemplated by this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage67"></A></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Conditions
to Company&#8217;s Obligations</U>. The obligations of the Company to consummate the transactions contemplated hereunder in connection
with the Standby Offering with respect to each Standby Purchaser are subject to the fulfillment (or waiver by the Company in writing),
prior to or on the Closing Date, of the following conditions:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;the
representations and warranties of such Standby Purchaser in <U>Section 2</U> shall be true and correct in all material respects
as of the date hereof and as of the Closing Date as if made as of such date; and</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;such
Standby Purchaser shall have performed all of its obligations hereunder.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Conditions
to each Standby Purchaser&#8217;s Obligations</U>. The obligations of each respective Standby Purchaser to consummate the transactions
contemplated hereunder in connection with the Standby Offering are subject to the fulfillment (or waiver by such Standby Purchaser
in writing), prior to or on the Closing Date, of the following conditions:</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;the
representations and warranties of the Company in <U>Section 3</U> shall be true and correct in all material respects as of the
date hereof and as of the Closing Date as if made as of such date; and</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;the
Company shall have performed all of its obligations hereunder.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 5.&#9;<U>Survival</U>.</B>
The representations and warranties of the parties contained in this Agreement or in any certificate delivered hereunder shall survive
the Closing hereunder.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 6.&#9;<U>Covenants</U>.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>SEC Filings</U>.
The Company agrees, as soon as reasonably practicable after the Company is advised or obtains knowledge thereof, to advise the
Standby Purchaser with a confirmation in writing, of (i) the time when any amendment or supplement to the Prospectus has been filed,
(ii) the issuance by the Commission of any stop order, or of the initiation or threatening of any proceeding, suspending the effectiveness
of the Registration Statement relating to the Rights Offering (the &#8220;<U>Registration Statement</U>&#8221;) or any amendment
thereto or any order preventing or suspending the use of any preliminary prospectus or the Prospectus or any amendment or supplement
thereto, (iii) the issuance by any state securities commission of any notice of any proceedings for the suspension of the qualification
of the shares of Common Stock issued in the Rights Offering for offering or sale in any jurisdiction or of the initiation, or the
threatening, of any proceeding for such purpose, (iv) the receipt of any comments from the Commission directed toward the Registration
Statement or any document incorporated therein by reference, and (v) any request by the Commission for any amendment to the Registration
Statement or any amendment or supplement to the Prospectus or for additional information. The Company shall use its commercially
reasonable efforts to prevent the issuance of any such order or the imposition of any such suspension and, if any such order is
issued or suspension is imposed, to obtain the withdrawal thereof as promptly as possible.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Information
About Standby Purchaser</U>. Each Standby Purchaser agrees to furnish to the Company all information with respect to such Standby
Purchaser that may be necessary or appropriate and will cause any information furnished to the Company for the Prospectus by such
Standby Purchaser not contain any untrue statement of material fact or omit to state a material fact required to be stated in the
Prospectus or necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Public
Announcements</U>. Neither the Company nor any Standby Purchaser shall issue any public announcement, statement or other disclosure
with respect to this Agreement or the transactions contemplated hereby without the prior consent of the other parties hereto, which
consent shall not be unreasonably withheld or delayed, except if such public announcement, statement or other disclosure is required
by applicable law or applicable stock market regulations, in which case the disclosing party shall consult in advance with respect
to such disclosure with the other parties to the extent reasonably practicable.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>NASDAQ
Listing</U>. The Company shall use commercially reasonable efforts to cause the shares of Common Stock issued to each Standby Purchaser
hereunder to be listed on the NASDAQ Capital Market.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><A NAME="eolPage68"></A>Section 7.&#9;<U>Termination</U>.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;<U>By Standby
Purchaser</U>. Each respective Standby Purchaser may terminate this Agreement (i) upon the occurrence of a suspension of trading
in the Common Stock by the NASDAQ Capital Market, any suspension of payments with respect to banks in the United States or a declaration
of war or national emergency in the United States, or (ii) if the Company materially breaches its obligations under this Agreement
and such breach is not cured within five business days following written notice to the Company.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>By Company</U>.
The Company may terminate this Agreement (i) in the event the Company, in its reasonable judgment, determines that it is not in
the best interests of the Company and its shareholders to proceed with the Rights Offering and/or the Standby Offering, (ii) if
consummation of the Rights Offering and/or the Standby Offering is prohibited by applicable law, rules or regulations, or (iii)
as to any particular Standby Purchaser, if such Standby Purchaser materially breaches its obligations under this Agreement and
such breach is not cured within five business days following written notice to the Standby Purchaser.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>Other</U>.
Any of the parties hereto may terminate this Agreement if the transactions contemplated hereby are not consummated by March 31, 2014 through no fault of the terminating party. In addition, this Agreement shall terminate upon the parties&#8217; mutual
consent.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>Effect
of Termination</U>. The Company and the Standby Purchaser hereby agree that any termination of this Agreement pursuant to this
<U>Section 7</U> (other than termination by one party in the event of a breach of this Agreement by the other party or a misrepresentation
of any of the statements made hereby by the other party), shall be without liability to the Company or the Standby Purchasers.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 8.&#9;<U>Notices</U>.</B>
All notices, communications and deliveries required or permitted by this Agreement shall be made in writing signed by the party
making the same, shall specify the Section of this Agreement pursuant to which it is given or being made and shall be deemed given
or made (a) on the date delivered if delivered in person, (b) on the third (3rd) business day after it is mailed if mailed by registered
or certified mail (return receipt requested) (with postage and other fees prepaid) or (c) on the day after it is delivered, prepaid,
to an overnight express delivery service that confirms to the sender delivery on such day, as follows:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">If to the Company:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in">Pro-Dex, Inc.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in">2361 McGaw Avenue<BR>
Irvine, California 92614<BR>
Attention: Chief Executive Officer<BR>
Fax: (866) 851-9339</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">With a copy (which shall not
constitute notice to the Company) to:</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in">Rutan &amp; Tucker, LLP<BR>
611 Anton Boulevard<BR>
14th Floor<BR>
Costa Mesa, California 92626<BR>
Attention: Garett Sleichter<BR>
Fax: (714) 546-9035</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">If to a Standby Purchaser, as
provided on the signature page hereto.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">or to such other representative or at
such other address of a party as such party hereto may furnish to the other parties in writing in accordance with this <U>Section
8</U>.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 9.&#9;<U>Entire Agreement</U>.</B>
This Agreement constitutes the entire agreement and understanding between Standby Purchasers and the Company, and supersedes all
prior agreements and understandings relating to the subject matter hereof.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;<A NAME="eolPage69"></A></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 10.&#9;<U>Indemnification</U>.</B>
To the fullest extent permitted by law, each Standby Purchaser hereby agrees (severally, and not jointly) to indemnify and hold
harmless the Company, its affiliates, and their respective directors, officers and authorized agents from and against any and all
losses, claims, damages, expenses and liabilities relating to or arising out of any breach of any representation, warranty, covenant
or undertaking made by or on behalf of such Standby Purchaser in this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 11.&#9;<U>Governing Law</U>.</B>
This Agreement shall be governed by and construed in accordance with the internal laws of the State of Colorado.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 12.&#9;<U>Amendments</U>.</B>
This Agreement may be modified or amended only with the written consent of the Company and all of the Standby Purchasers.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 13.&#9;<U>Severability</U>.</B>
If any provision of this Agreement shall be invalid under the applicable law of any jurisdiction, the remainder of this Agreement
shall not be affected thereby.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 14.&#9;<U>Permitted Designees</U>.</B>
Each Standby Purchaser may designate to one or more of its affiliates the right to purchase all or a portion of the Common Stock
purchasable by such Standby Purchaser hereunder; provided that each such designee is an &#8220;accredited investor&#8221; (as that
term is defined in Regulation D promulgated under the Securities Act) and satisfies such other investor suitability requirements
as may be determined by the Board in its discretion. All references in this Agreement to a &#8220;Standby Purchaser&#8221; shall
mean such Standby Purchaser and each permitted designee of such Standby Purchaser.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Section 15.&#9;<U>Miscellaneous</U>.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;Except for
permitted designees pursuant to <U>Section&nbsp;14</U>, no person other than the Company or the Standby Purchaser shall be entitled
to rely on and/or have the benefit of, as a third party beneficiary or under any other theory, any of the representations, warranties,
agreements, covenants or other provisions of this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;The headings
in this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning of this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;This Agreement
may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken together,
shall constitute one and the same instrument.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;Except for
permitted designees pursuant to <U>Section&nbsp;14</U>, no Standby Purchaser may assign this Agreement or any of its rights hereunder
without the Company&#8217;s prior written consent.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(e)&#9;Each party
to this Agreement shall pay his, her or its own costs, taxes, fees and expenses (including attorney fees) incurred in connection
with the Rights Offering, the Standby Offering and the other transactions contemplated by this Agreement.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">[ <I>Signature Page Follows</I> ]</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A NAME="eolPage70"></A>
IN WITNESS WHEREOF, the Standby Purchaser has executed this Agreement on and as of the date first set forth above.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B>STANDBY PURCHASER:</B></FONT></TD>
    <TD STYLE="width: 52%; padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>STANDBY PURCHASER:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;AO PARTNERS, LLC</FONT></TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">FARNAM STREET CAPITAL, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
    </TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Nick Swenson</TD>
    <TD></TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Ray Cabillot</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Name:</TD>
    <TD STYLE="border-bottom: Black 0pt solid">Nick Swenson</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="border-bottom: Black 0pt solid">Ray Cabillot</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 0pt solid">Managing Member</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>CEO</TD></TR>
</TABLE>


<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Address for Notices:</FONT></TD>
    <TD STYLE="width: 52%; padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Address for Notices:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">3033 Excelsior Blvd.</FONT></TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">3033 Excelsior Blvd.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Suite 560</FONT></TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Suite 320</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Minneapolis, MN 55416</FONT></TD>
    <TD STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Minneapolis, MN 55416</FONT></TD></TR>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ACCEPTED AND AGREED:</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">PRO-DEX, INC.</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="width: 43%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Harold A. Hurwitz</FONT></TD>
    <TD STYLE="width: 51%; padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Harold A. Hurwitz</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 115%">&nbsp;</TD></TR>
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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/0.05pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/0.05pt Times New Roman, Times, Serif; margin: 7pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 23.1</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;<A NAME="FIS_EXPERTS_CONSENT"></A></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We consent to the incorporation by reference in this Registration Statement on Form S-3 of our report dated September 27, 2013, relating to the consolidated financial statements of Pro-Dex, Inc., appearing in the Annual Report on Form 10-K of Pro-Dex, Inc. for the year ended June 30, 2013, and to the reference to our firm under the caption "Experts" in the Prospectus, which is part of this Registration Statement.</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">/s/ Moss Adams LLP</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Los Angeles, California</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">December 17, 2013</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
