<SEC-DOCUMENT>0001553350-21-000973.txt : 20211109
<SEC-HEADER>0001553350-21-000973.hdr.sgml : 20211109
<ACCEPTANCE-DATETIME>20211109160008
ACCESSION NUMBER:		0001553350-21-000973
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20211105
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20211109
DATE AS OF CHANGE:		20211109

FILER:

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

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14942
		FILM NUMBER:		211391908

	BUSINESS ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-769-3231

	MAIL ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRO-DEX, INC.
		DATE OF NAME CHANGE:	20151110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONTEXT CAPITAL FUNDS
		DATE OF NAME CHANGE:	20151104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRO DEX INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pdex_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="eolPage1"></A><A NAME="V242690_8K_HTM"></A><A NAME="V242690_8K_HTM_EOLPAGE1"></A><A NAME="FIS_TOP_OF_DOCUMENT"></A><A NAME="V242690_8K_HTM_V241347_8K_HTM"></A><A NAME="FIS_FORM"></A><A NAME="FIS_UNIDENTIFIED_TABLE"></A>&nbsp;</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>November 5, 2021</B></P>

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

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRO-DEX, INC.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Exact name of registrant as specified in its
charter)</I></P>

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

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    <TD STYLE="width: 34%; text-align: center"><B>COLORADO</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>0-14942</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>84-1261240</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><I>(State or other jurisdiction of incorporation)</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><I>(Commission File Number)</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><I>(IRS Employer Identification Number)</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2361 McGaw Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Irvine, California 92614</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(949) 769-3200</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Registrant&#8217;s telephone number including
area code)</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 6%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 94%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 94%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 94%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 94%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities registered pursuant to Section 12(b)
of the Act:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <TD STYLE="vertical-align: bottom; width: 33%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Trading Symbol(s)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">Common Stock, no par value</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">PDEX</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">NASDAQ Capital Market</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-align: justify">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by checkmark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&nbsp;</FONT></P>

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

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

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





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify"><B>Item 1.01&nbsp;&nbsp;&nbsp;Entry
into a Material Definitive Agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify"><I><U>Amended and Restated
Revolving Credit Note</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">On
November 5, 2021 (the &ldquo;Amendment Date&rdquo;), Pro-Dex, Inc. (the &ldquo;Company&rdquo;) entered into Amendment No.1 to
Amended and Restated Credit Agreement (the &ldquo;Amendment&rdquo;) with Minnesota Bank and Trust (&ldquo;MBT&rdquo;), which amends
the Company&rsquo;s Amended and Restated Credit Agreement with MBT (as amended, the &ldquo;Credit Agreement&rdquo;) to extend the
maturity date of the Company&rsquo;s existing $2,000,000 revolving credit note with MBT from <FONT STYLE="letter-spacing: 0pt">November
5, 2021 to November 5, 2023 and to reduce the interest rate pursuant to an Amended and Restated Revolving Credit Note dated as of
the Amendment Date made by the Company in favor of MBT (the &ldquo;Revolving Note&rdquo;)</FONT>. The Revolving Note may be borrowed
against from time to time by the Company through its maturity date on the terms set forth in the Credit Agreement. No amounts have
been drawn on the Revolving Note as of the date of this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">The
Revolving Note bears interest at an annual rate equal to the greater of (a) 2.75% or (b) the prime rate minus 0.50% as published in the
Money Rates section of the Wall Street Journal. Commencing on the first day of each month after the Company initially borrows against
the Revolving Note and each month thereafter until maturity, the Company is required to pay all accrued and unpaid interest on the Revolving
Note through the date of payment. Any principal on the Revolving Note that is not previously prepaid by the Company shall be due and payable
in full on the maturity date (or earlier termination of the Revolving Note).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">Upon
the occurrence and during the continuance of an event of default, the interest rate of the Revolving Note is increased by 3% and MBT may,
at its option, declare the Revolving Note immediately due and payable in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">The
Credit Agreement and Revolving Note contain representations and warranties, affirmative, negative and financial covenants, and events
of default that are customary for loans of this type.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">Copies
of the Amendment and Revolving Note are attached as exhibits to this Current Report on Form 8-K. The above descriptions are qualified
by reference to the complete text of those documents. Copies of those documents are not intended to provide factual information about
the Company. The representations, warranties, and covenants contained in those documents were made only for purposes of the transactions
represented thereby as of the specific dates therein, are solely for the benefit of the Company and MBT, may be subject to limitations
agreed upon by the Company and MBT, including, among others, being qualified by disclosures made for the purposes of allocating contractual
risk between the parties instead of establishing these matters as facts, and may be subject to standards of materiality applicable to
the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under those documents
and should not rely on the representations, warranties and covenants, or any descriptions thereof, as characterizations of the actual
state of facts or condition of the Company. Moreover, information concerning the subject matter of representations and warranties contained
in those documents may change after the date of those documents, which subsequent information may or may not be fully reflected in the
Company&rsquo;s public disclosures. Rather, investors and the public should look to the disclosures contained in the Company&rsquo;s reports
under the Securities Exchange Act of 1934, as amended, for information concerning the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt/88% Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; letter-spacing: 0.1pt; text-align: justify; text-indent: -0.1pt"><B>ITEM
2.03&nbsp;&nbsp;&nbsp;Creation of a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; letter-spacing: 0.1pt; text-align: justify; text-indent: 23pt">The
disclosures concerning the Amendment and Revolving Note contained in Item 1.01 above are incorporated into this Item 2.03 by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify"><B>ITEM 9.01&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 8%; text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 8pt"><B>Exhibit <BR>
Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%; text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 90%; text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 8pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt"><A HREF="pdex_10z1.htm">Amendment No. 1 to Amended
    and Restated Credit Agreement dated November 5, 2021 by and between Pro-Dex, Inc. and Minnesota Bank &amp; Trust.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt"><A HREF="pdex_10z2.htm">Amended and Restated Revolving Credit Note dated November 5, 2021 made by Pro-Dex, Inc. in favor of Minnesota Bank &amp; Trust.</A></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: justify">&nbsp;</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="a_Aci_Pg2"></A>&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 23pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;&nbsp;November 9, 2021</TD>
    <TD COLSPAN="2"><B>Pro-Dex, Inc. </B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Alisha K. Charlton</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Alisha K. Charlton</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="FIS_EXHIBIT_10"></A>&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: center"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: 0.1pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 8%; text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 8pt"><B>Exhibit <BR>
Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%; text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 90%; text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 8pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt"><A HREF="pdex_10z1.htm">Amendment No. 1 to Amended
    and Restated Credit Agreement dated November 5, 2021 by and between Pro-Dex, Inc. and Minnesota Bank &amp; Trust.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; letter-spacing: 0.1pt"><FONT STYLE="font-size: 10pt"><A HREF="pdex_10z2.htm">Amended and Restated Revolving Credit Note dated November 5, 2021 made by Pro-Dex, Inc. in favor of Minnesota Bank &amp; Trust.</A></FONT></TD></TR>
  </TABLE>
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>pdex_10z1.htm
<DESCRIPTION>AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT 10.1</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT
AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><A NAME="a_DV_M7"></A><B>This
AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT</B> dated as of <A NAME="a_DV_M8"></A>November 5, 2021 (the &#8220;<U>Amendment</U>&#8221;),
between <B>Pro-Dex, Inc.</B>, a Colorado corporation (the &#8220;<U>Borrower</U>&#8221;), and <B>Minnesota Bank &amp; Trust</B>, a Minnesota
state banking corporation (the &#8220;<U>Lender</U>&#8221;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_DV_M9"></A><U>RECITALS</U>:</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M10"></A>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower and the Lender are parties to that certain Amended and Restated Credit Agreement dated as of November 6, 2020 (the &#8220;<U>Original
Agreement</U>&#8221;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.85pc"><A NAME="a_DV_M11"></A>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower has requested that the Lender (i) amend the Original Agreement to extend the stated Revolving Credit Termination Date from November
5, 2021 to November 5, 2023, and (ii) reduce the interest rate on the Revolving Credit Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M12"></A>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms and conditions of this Amendment, the Lender will agree to the foregoing request of the Borrower.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M13"></A><B>NOW,
THEREFORE, </B>the parties agree as follows:</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M14"></A><FONT STYLE="font-size: 10pt; color: #010000">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Defined Terms</U>.</B> All capitalized terms used in this Amendment shall, except where the
context otherwise requires, have the meanings set forth in the Original Agreement as amended hereby.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M15"></A><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Amendment</U>.</B> The Original Agreement is hereby amended as follows:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The definition of the term &#8220;<B>Revolving Credit Termination Date</B>&#8221; defined in Section
1.01 of the Original Agreement is hereby amended in its entirety to read as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify">&#8220;&#9;&#8216;<B>Revolving Credit
Termination Date</B>&#8217; means the earliest to occur of (a) November 5, 2023, (b) the date the Revolving Credit Commitment is reduced
to zero pursuant to Section 2.04, and (c) the termination of the Revolving Credit Commitment pursuant to Section 8.02.&#8221;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Lender&#8217;s address for notices appearing in Section 9.10(a)(ii) is hereby amended to read
as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pc; text-align: justify">&#8220;Minnesota Bank &amp; Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pc; text-align: justify">9800 Bren Road East, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pc; text-align: justify">Minnetonka, MN 55343</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pc; text-align: justify">Attention: Dianne Wegscheid, SVP/Commercial
Team Lead&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pc; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M16"></A><A NAME="a_DV_M17"></A><A NAME="a_DV_M18"></A><A NAME="a_DV_M21"></A><FONT STYLE="font-size: 10pt; color: #010000">3.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Conditions to Effectiveness</U></B>. This Amendment shall become effective on the date (the
&#8220;<U>Effective Date</U>&#8221;) when, and only when, the Lender shall have received:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M22"></A>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M23"></A><A NAME="a_DV_M24"></A><FONT STYLE="font-size: 10pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">this Amendment, duly executed by the Borrower;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">an Amended and Restated Revolving Credit Note (the &#8220;<U>A&amp;R Revolving Credit Note</U>&#8221;),
in the form provided by Lender, duly executed by Borrower;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">evidence that the Borrower is in good standing in the States of California and Colorado; and </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">such other documents as the Lender may reasonably request.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M31"></A><FONT STYLE="font-size: 10pt; color: #010000">4.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Representations and Warranties</U></B>. To induce the Lender to enter into this Amendment,
the Borrower represents and warrants to the Lender as follows:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M32"></A><FONT STYLE="font-size: 10pt; color: #010000"></FONT>(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The execution, delivery and performance by the Borrower of this Amendment, the A&amp;R Revolving
Credit Note, and any other Loan Document to which the Borrower is a party have been duly authorized by all necessary corporate action,
do not require any approval or consent of, or any registration, qualification or filing with, any government agency or authority or any
approval or consent of any other person (including, without limitation, any shareholder), do not and will not conflict with, result in
any violation of or constitute any default under, any provision of the Borrower&#8217;s articles of incorporation or bylaws, any agreement
binding on or applicable to the Borrower or any of its property, or any law or governmental regulation or court decree or order, binding
upon or applicable to the Borrower or of any of its property and will not result in the creation or imposition of any security interest
or other lien or encumbrance in or on any of its property pursuant to the provisions of any agreement applicable to the Borrower or any
of its property;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M33"></A><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The representations and warranties contained in the Original Agreement are true and correct as of
the date hereof as though made on that date except: (i) to the extent that such representations and warranties relate solely to an earlier
date; and (ii) that the representations and warranties set forth in Section 5.04 of the Original Agreement to the audited annual financial
statements and internally-prepared interim financial statements of the Borrower shall be deemed to be a reference to the audited financial
statements and interim financial statements, as the case may be, of the Borrower most recently delivered to the Lender pursuant to Section
6.01(a) or 6.01(b) of the Original Agreement;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">No events have taken place and no circumstances exist at the date hereof which would give the Borrower
the right to assert a defense, offset or counterclaim to any claim by the Lender for payment of the Obligations;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M35"></A><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Original Agreement, as amended by this Amendment, the A&amp;R Revolving Credit Note, and each
other Loan Document to which the Borrower is a party are the legal, valid and binding obligations of the Borrower and are enforceable
in accordance with their respective terms, subject only to bankruptcy, insolvency, reorganization, moratorium or similar laws, rulings
or decisions at the time in effect affecting the enforceability of rights of creditors generally and to general equitable principles which
may limit the right to obtain equitable remedies; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M36"></A><FONT STYLE="font-size: 10pt; color: #010000">(e)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Before and after giving effect to this Amendment, there does not exist any Default or Event of Default.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M37"></A><FONT STYLE="font-size: 10pt; color: #010000">5.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Release</U></B>. The Borrower hereby releases and forever discharges the Lender and its successors,
assigns, directors, officers, agents, employees and participants from any and all actions, causes of action, suits, proceedings, debts,
sums of money, covenants, contracts, controversies, claims and demands, at law or in equity, which the Borrower ever had or now has against
the Lender or its successors, assigns, directors, officers, agents, employees or participants by virtue of the Lender&#8217;s relationship
to the Borrower in connection with the Loan Documents and the transactions related thereto</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">6.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Reference to and Effect on the Loan Documents</U></B>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M38"></A>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">From and after the date of this Amendment, each reference in<A NAME="a_DV_M39"></A>:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(i)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">the Original Agreement to &#8220;this Agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221;,
&#8220;herein&#8221; or words of like import referring to the Original Agreement, and each reference to the &#8220;Credit Agreement&#8221;,
the &#8220;Credit Agreement&#8221;, &#8220;thereunder&#8221;, &#8220;thereof&#8221;, &#8220;therein&#8221; or words of like import referring
to the Original Agreement in any other Loan Document shall mean and be a reference to the Original Agreement as amended hereby; and<A NAME="a_DV_M41"></A>
except as specifically set forth above, the Original Agreement remains in full force and effect and is hereby ratified and confirmed;
and </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">(ii)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">any Loan Document to the &#8220;Revolving Credit Note&#8221;, &#8220;thereunder&#8221;, &#8220;thereof&#8221;,
&#8220;therein&#8221; or words of like import referring to the Revolving Credit Note shall mean and be a reference to the A&amp;R Revolving
Credit Note executed and delivered pursuant to this letter amendment.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M42"></A><FONT STYLE="font-size: 10pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any right, power or remedy of the Lender under the Agreement or any other Loan Document, nor constitute
a waiver of any provision of the Agreement or any such other Loan Document.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M43"></A><FONT STYLE="font-size: 10pt; color: #010000">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt; color: #010000">7.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Costs, Expenses and Taxes</U>.</B> The Borrower agrees to pay on demand all costs and expenses
of the Lender in connection with the preparation, reproduction, execution and delivery of this Amendment and the other documents to be
delivered hereunder or thereunder, including their reasonable attorneys&#8217; fees and legal expenses. In addition, the Borrower shall
pay any and all stamp and other taxes and fees payable or determined to be payable in connection with the execution and delivery, filing
or recording of this Amendment and the other instruments and documents to be delivered hereunder and agrees to save the Lender harmless
from and against any and all liabilities with respect to, or resulting from, any delay in the Borrower&#8217;s paying or omission to pay,
such taxes or fees.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M44"></A><FONT STYLE="font-size: 10pt; color: #010000">8.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Governing Law</U>.</B> THE VALIDITY, CONSTRUCTION AND ENFORCEABILITY OF THIS AMENDMENT SHALL
BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M45"></A><FONT STYLE="font-size: 10pt; color: #010000">9.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Headings</U>.</B> Section headings in this Amendment are included herein for convenience of
reference only and shall not constitute a part of this Amendment for any other purpose.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M46"></A><FONT STYLE="font-size: 10pt; color: #010000">10.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Counterparts</U>.</B> This Amendment may be executed in counterparts and by separate parties
in separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same document.
Receipt by telecopy, pdf file or other electronic means of any executed signature page to this Amendment shall constitute effective delivery
of such signature page.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><A NAME="a_DV_M47"></A><FONT STYLE="font-size: 10pt; color: #010000">11.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B><U>Recitals</U>. </B>The Recitals hereto are incorporated herein by reference and constitute a
part of this Amendment.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_DV_M48"></A>[SIGNATURE PAGE FOLLOWS]</P>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.4pt"><A NAME="a_DV_M49"></A>IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>PRO-DEX, INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 36%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Richard L. Van Kirk</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Richard L. Van Kirk</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Its:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Minnesota Bank &amp; Trust</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Dianne Wegscheid</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Dianne Wegscheid</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Senior Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_DV_M64"></A>&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[signature page Amendment No. 1 to Amended and
Restated Credit Agreement]</P>



<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>pdex_10z2.htm
<DESCRIPTION>AMENDED AND RESTATED REVOLVING CREDIT NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Dated as of November 5, 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Minnetonka, Minnesota</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOR VALUE RECEIVED, on the Revolving Credit Termination
Date (as defined in the Credit Agreement hereinafter defined) the undersigned, <FONT STYLE="text-transform: uppercase"><B>PRO-DEX, INC.</B>,
</FONT>a Colorado corporation (the &#8220;<U>Borrower</U>&#8221;), promises to pay to the order of <FONT STYLE="text-transform: uppercase"><B>Minnesota
Bank &amp; Trust</B></FONT>, a Minnesota state banking corporation (the &#8220;<U>Lender</U>&#8221;), the principal sum of TWO MILLION
AND NO/100THS DOLLARS (U.S. $2,000,000.00) or, if less, the aggregate unpaid principal amount of all Revolving Credit Loans (as hereinafter
defined) made by the Lender to the Borrower pursuant to the Credit Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interest.</B> The Borrower promises to pay
interest on the unpaid principal amount hereof from the date hereof until such principal amount is paid in full at a fluctuating annual
rate of interest equal to the <B><U>greater</U></B> of (a) 2.75% or (b) the Prime Rate (hereinafter defined) <B><U>minus</U></B> 0.50%,
as in effect on the date hereof and as the same may adjust from time to time. Interest accrued during each calendar month shall be due
and payable on the first day of the following calendar month, with the first such interest payment due on December 1, 2021. Interest shall
also be payable at maturity and interest accrued after maturity shall be payable on demand. The term &#8220;Prime Rate&#8221; shall mean
the prime rate published in the money rates section of the Wall Street Journal, floating, and changing with each change of such published
rate, or if the Wall Street Journal ceases to publish such rate, as published in the Federal Reserve Board&#8217;s Statistical Release
H. 15. If the Prime Rate becomes unavailable during the term of this loan, Lender may designate a substitute index after notifying Borrower.
Lender will tell Borrower the current Index rate upon Borrower&#8217;s request. Borrower understands that Lender may make loans based
on other rates as well. Interest on the unpaid principal balance of this Note will be calculated as described in the &#8220;INTEREST CALCULATION
METHOD&#8221; paragraph. NOTICE: under no circumstances will the interest rate on this Note be more than the maximum rate allowed by applicable
law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Payments</B>. Both principal and interest are
payable in lawful money of the United States of America to the Lender at 9800 Bren Road East, Suite 200, Minnetonka, MN 55343 (or other
location specified by the Lender) in immediately available funds. By its execution of this Note, the Borrower authorizes the Lender to
charge from time to time against any of Borrower&#8217;s depository accounts maintained with the Lender any such payments when due and
the Lender will use its reasonable efforts to notify the Borrower of such charges.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interest Calculation Method</B>. Interest on
this Note shall be calculated on the basis of a 360-day year and the actual number of days elapsed in any portion of a month in which
interest is due. If any payment to be made by the Borrower hereunder shall become due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Page </B>2</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>November 5, 2021</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Prepayment; Minimum Interest Charge</B>. In
any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $10.00.
Other than Borrower&#8217;s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount
earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower&#8217;s obligation
to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Borrower agrees
not to send Lender payments marked &#8220;paid in full&#8221;, &#8220;without recourse&#8221;, or similar language. If Borrower sends
such a payment, Lender may accept it without losing any of Lender&#8217;s rights under this Note, and Borrower will remain obligated to
pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument
that indicates that the payment constitutes &#8220;payment in full&#8221; of the amount owed or that is tendered with other conditions
or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank &amp; Trust, 9800 Bren Road
East, Suite 200, Minnetonka, MN 55343.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Late Charge</B>. If a payment due hereunder
is not made within seven days after the date when due, Borrower shall pay to Lender a late payment charge of 5% of the amount of the overdue
payment to compensate Lender for a portion of the cost related to handling the overdue payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interest After Default</B>. Upon the occurrence
and during the continuance of an Event of Default, including failure to pay upon final maturity, the interest rate on this Note shall
be increased by adding an additional 3.000 percentage point margin over the interest rate that would otherwise be in effect hereunder
(such increased rate of interest being, the &#8220;<U>Default Rate</U>&#8221;). However, in no event will the interest rate exceed the
maximum interest rate limitations under applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Credit Agreement</B>. This Note is the Revolving
Credit Note referred to in, and is entitled to the benefits of, the Amended and Restated Credit Agreement dated as of November 6, 2020
(as amended, modified, supplemented or restated from time to time being the &#8220;<U>Credit Agreement</U>&#8221;; capitalized terms not
otherwise defined herein being used herein as therein defined) between the Borrower and the Lender. The Credit Agreement, among other
things, (i)&nbsp;provides for the making of Revolving Credit Loans (the &#8220;<U>Revolving Credit Loans</U>&#8221;) by the Lender to
the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the dollar amount first above mentioned, the
indebtedness of the Borrower resulting from each such Revolving Credit Loan being evidenced by this Note; (ii)&nbsp;contains provisions
for acceleration of the maturity hereof upon the happening of certain stated events prior to the maturity hereof upon the terms and conditions
therein specified; and (iii)&nbsp;contains provisions for the mandatory prepayment hereof upon certain conditions.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>November 5, 2021</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Security Agreement</B>. This Note is secured
by, among other things, that <FONT STYLE="font-family: Times New Roman, Times, Serif">certain Security Agreement dated September 6, 2018,
executed by the Borrower and certain of its Subsidiaries in favor of the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Waiver of Presentment and Demand for Payment;
Etc.</B> Borrower and any endorsers or guarantors hereof severally waive presentment and demand for payment, notice of intent to accelerate
maturity, protest or notice of protest and non&#45;payment, bringing of suit and diligence in taking any action to collect any sums owing
hereunder or in proceeding against any of the rights and properties securing payment hereunder, and expressly agree that this Note, or
any payment hereunder, may be extended from time to time, and consent to the acceptance of further security or the release of any security
for this Note, all without in any way affecting the liability of Borrower and any endorsers or guarantors hereof. No extension of time
for the payment of this Note, or any installment thereof, made by agreement by Lender with any Person now or hereafter liable for the
payment of this Note, shall affect the original liability under this Note of the undersigned, even if the undersigned is not a party to
such agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Event of Default. </B> Any &#8220;Event of
Default&#8221; (as defined in the Credit Agreement) shall constitute an Event of Default under this Note. Upon the occurrence of an Event
of Default, in addition to any other rights or remedies Lender may have at law or in equity or under the Credit Agreement or under any
other Loan Document, Lender may, at its option, without notice to Borrower, declare immediately due and payable the entire unpaid principal
sum hereof, together with all accrued and unpaid interest thereon plus any other sums owing at the time of such Event of Default pursuant
to this Note, the Security Agreement or any other Loan Document. The failure to exercise the foregoing or any other options shall not
constitute a waiver of the right to exercise the same or any other option at any subsequent time in respect of the same event or any other
event. The acceptance by the holder of any payment hereunder which is less than payment in full of all amounts due and payable at the
time of such payment shall not constitute a waiver of the right to exercise any of the foregoing options at that time or at any subsequent
time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Expense Reimbursement. </B>Borrower agrees
to pay all expenses for the preparation of this Note, as set forth in the Credit Agreement, including exhibits, and any amendments to
this Note as may from time to time hereafter be required, and the reasonable attorneys&#8217; fees and legal expenses of counsel for Lender
from time to time incurred in connection with the preparation and execution of this Note and any document relevant to this Note, any amendments
hereto or thereto, and the consideration of legal questions relevant hereto and thereto. Borrower agrees to reimburse Lender upon demand
for all reasonable out-of-pocket expenses (including attorneys&#8217; fees and legal expenses) in connection with Lender&#8217;s enforcement
of the obligations of the Borrower hereunder or under the Security Agreement or any other collateral document, whether or not suit is
commenced including, without limitation, attorneys&#8217; fees and legal expenses in connection with any appeal of a lower court&#8217;s
order or judgment. The obligations of the Borrower under this paragraph shall survive any termination of the Credit Agreement, this Note,
the Security Agreement, and any other Loan Document.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Page </B>4</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>November 5, 2021</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Successors and Assigns</B>. This Note shall
be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns except that Borrower
may not assign or transfer its rights hereunder without the prior written consent of Lender, which consent may be withheld in Lender&#8217;s
sole discretion. In connection with the actual or prospective sale by the Lender of any interest or participation in the loan obligation
evidenced by this Note, Borrower hereby authorizes the Lender to furnish any information concerning the Borrower or any of its affiliates,
however acquired, to any Person or entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Usury</B>. Borrower and Lender agree that no
payment of interest or other consideration made or agreed to be made by Borrower to Lender pursuant to this Note shall, at any time, be
in excess of the maximum rate of interest permissible by law. In the event such payments of interest or other consideration provided for
in this Note shall result in an effective rate of interest which, for any period of time, is in excess of the limit of the usury or any
other law applicable to the loan evidenced hereby, all sums in excess of those lawfully collectible as interest for the period in question
shall, without further agreement or notice between or by any party hereto, be applied to the unpaid principal balance and not to the payment
of interest; if a surplus remains after full payment of principal and lawful interest, the surplus shall be remitted by Lender to Borrower,
and Borrower hereby agrees to accept such remittance. This provision shall control every other obligation of the Borrower and Lender relating
to this Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Business Purpose Loan</B>. The Loan is a business
loan. Borrower hereby represents that this loan is for commercial use and not for personal, family or household purposes. The Borrower
agrees that the Loan evidenced by this Note is an exempted transaction under the Truth In Lending Act, 15 U.S.C., &sect;1601, et seq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Governing Law</B>. THE VALIDITY, CONSTRUCTION
AND ENFORCEABILITY OF THIS NOTE SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO CONFLICT OF
LAWS PRINCIPLES THEREOF.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>WAIVER OF DEFENSES</U></B>. OTHER THAN CLAIMS
BASED UPON THE FAILURE OF THE LENDER TO ACT IN A COMMERCIALLY REASONABLE MANNER, THE BORROWER WAIVES EVERY PRESENT AND FUTURE DEFENSE
(OTHER THAN THE DEFENSE OF PAYMENT IN FULL OR THAT NO EVENT OF DEFAULT EXISTED), CAUSE OF ACTION, COUNTERCLAIM OR SETOFF WHICH THE BORROWER
MAY NOW HAVE OR HEREAFTER MAY HAVE TO ANY ACTION BY THE LENDER IN ENFORCING THIS NOTE OR ANY OF THE LOAN DOCUMENTS. THIS PROVISION IS
A MATERIAL INDUCEMENT FOR THE LENDER GRANTING ANY FINANCIAL ACCOMMODATION TO THE BORROWER.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Page </B>5</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>November 5, 2021</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Waiver of Right to Jury Trial; Venue</B>. BORROWER
WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION RELATING TO OR ARISING FROM THIS NOTE. AT THE OPTION OF LENDER, THIS NOTE
MAY BE ENFORCED IN ANY UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MINNESOTA OR THE STATE COURT SITTING IN HENNEPIN OR RAMSEY COUNTY,
MINNESOTA. BORROWER CONSENTS TO THE JURISDICTION AND VENUE OF ANY SUCH COURT AND WAIVES ANY ARGUMENT THAT VENUE IN SUCH FORUMS IS NOT
PROPER OR CONVENIENT. IN THE EVENT AN ACTION IS COMMENCED IN ANOTHER JURISDICTION OR VENUE UNDER ANY TORT OR CONTRACT THEORY ARISING DIRECTLY
OR INDIRECTLY FROM THE RELATIONSHIP CREATED BY THIS NOTE, LENDER, AT ITS OPTION, SHALL BE ENTITLED TO HAVE THE CASE TRANSFERRED TO ONE
OF THE JURISDICTIONS AND VENUES ABOVE DESCRIBED, OR IF SUCH TRANSFER CANNOT BE ACCOMPLISHED UNDER APPLICABLE LAW, TO HAVE SUCH CASE DISMISSED
WITHOUT PREJUDICE.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Amendment and Restatement</B>. This Note is
being executed and delivered in restatement of, but not in payment of, that certain Revolving Credit Note dated November 6, 2020, made
by the Borrower payable to the order of the Lender in the original principal amount of $2,000,000.00; <U>provided, however</U>, that interest
accrued on such replaced note through the date hereof shall be due and payable on December 1, 2021.</P>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED REVOLVING CREDIT NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Page </B>6</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. $2,000,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>November 5, 2021</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Borrower
has caused this Amended and Restated Revolving Credit Note to be signed by its duly authorized officer in favor of Minnesota Bank &amp;
Trust and to be dated as of the date set forth above.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>PRO-DEX, INC., </B></FONT><FONT STYLE="font-size: 10pt">a Colorado corporation</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 39%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Richard L. Van Kirk</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Richard L. Van Kirk</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Its: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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