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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-09-037881.txt : 20090720
<SEC-HEADER>0001144204-09-037881.hdr.sgml : 20090719
<ACCEPTANCE-DATETIME>20090720113718
ACCESSION NUMBER:		0001144204-09-037881
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090717
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:		20090720
DATE AS OF CHANGE:		20090720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOANALYTICAL SYSTEMS INC
		CENTRAL INDEX KEY:			0000720154
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				351345024
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23357
		FILM NUMBER:		09952538

	BUSINESS ADDRESS:	
		STREET 1:		2701 KENT AVE
		CITY:			WEST LAFAYETT
		STATE:			IN
		ZIP:			47906-1382
		BUSINESS PHONE:		3174634527

	MAIL ADDRESS:	
		STREET 1:		2701 KENT AVENUE
		CITY:			WEST LAFAYETTE
		STATE:			IN
		ZIP:			47906-1382
</SEC-HEADER>
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  <head>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
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8-K</font></div>
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REPORT</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of earliest event reported): July 17, 2009</font></div>
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telephone number, including area code: (765) 463-4527</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information provided in Item 2.03 and Item 9.01 of this Form 8-K is being
furnished and shall not be deemed "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that Section. The information in Item 2.03 and Item 9.01 of this
Form 8-K shall not be incorporated by reference into any registration statement
or other document pursuant to the Securities Act of 1933, as
amended.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
2.03.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Creation of a Direct
Financial Obligation or an Obligation Under and Off-Balance Sheet Arrangement of
a Registrant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
17, 2009, Bioanalytical Systems, Inc. (&#8220;BASi&#8221;) and National City Bank of Indiana
(&#8220;National City&#8221;) executed a Fourth Amendment to Amended and Restated Credit
Agreement (the &#8220;Credit Agreement&#8221;), a Replacement Promissory Note, and a
Reaffirmation of Replacement Subsidiary Guaranty<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>(collectively, the &#8220;Credit
Facility&#8221;).&#160;&#160;Previously, BASi had been operating in breach of the
fixed charge coverage ratio and tangible net worth covenants during
the&#160;current fiscal year.&#160;&#160;This amended Credit Facility waives
those breaches and establishes new calculations and requirements for those
covenants.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">The Credit Facility may be drawn up to
a maximum aggregate principal amount of the lesser of $3,000,000 or the
&#8220;Borrowing Base&#8221; of Bioanalytical Systems, Inc. (as defined in the Credit
Agreement). The Credit Facility bears interest at an annual rate equal to LIBOR
plus five percent (5%).&#160;&#160;In the event that LIBOR shall become
unavailable, the outstanding principal balance of Advances under the Line of
Credit shall bear interest at an annual rate equal to the Prime Rate plus two
Percent (2%).</font> <font style="DISPLAY: inline; FONT-SIZE: 10pt">Interest is
paid monthly.&#160;&#160;The Credit Facility also carries a fee for the portion
of the Credit Facility which is unused, minus the amount of all letters of
credit. This fee is payable quarterly.&#160;&#160;&#160;The Credit Facility
expires on December 31, 2009.</font></font></div>
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the amended Credit Facility, National City has agreed to waive our violations of
the fixed charge coverage ratio covenant and the tangible net worth covenant
through the end of our third fiscal quarter of the current
year.&#160;&#160;National City also agreed to amend the computations and
requirements for the fixed charge coverage ratios and the tangible net worth
ratio through December 31, 2009.</font></div>
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obligations under the Credit Facility are guaranteed by each U.S. subsidiary of
BASi. BASi also granted the bank a security interest in substantially all of its
operational assets and other real assets and pledged to the bank all outstanding
capital stock of each of its U.S. subsidiaries and 65% of the outstanding
capital stock of each of its non-U.S. subsidiaries.&#160;&#160;&#160;BASi must
provide to National City a complete inventory of the pledged operational assets
along with an appraisal of such assets by August 15, 2009.</font></div>
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foregoing discussion of the Credit Facility is entirely qualified by reference
to the Credit Agreement, which is attached as Exhibit 10.1, and incorporated
herein by this reference.</font></div>
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Exhibits.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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applicable.</font></div>
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applicable.</font></div>
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applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">(d)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">Exhibits</font>:</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fourth
      Amendment to Amended and Restated Credit Agreement between Bioanalytical
      Systems, <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inc.
      and National City Bank,</font></font></div>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">executed
      July 17, 2009.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      Systems, Inc.</font></div>
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              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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      July 17, 2009</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:
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      R. Cox</font></div>
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      R. Cox</font></div>
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      President, Finance and Administration, Chief Financial Officer and
      Treasurer</font></div>
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            </tr>
            <tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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Index</font></div>
    <div>&#160;</div>
    <div><br>&#160;</div>
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          <tr>
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      No.</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fourth
      Amendment to Amended and Restated Credit Agreement between Bioanalytical
      Systems, Inc. and National City Bank, executed July 17,
    2009.</font></div>
            </td>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v155016_ex10-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FOURTH
AMENDMENT TO</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AMENDED
AND RESTATED CREDIT AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>THIS FOURTH AMENDMENT TO AMENDED AND
RESTATED CREDIT AGREEMENT (this &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Fourth Amendment</font>&#8221;) dated as of
the&#160;17th day of July, 2009, is by and between BIOANALYTICAL SYSTEMS, INC.
(&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Borrower</font>&#8221;) and
NATIONAL CITY BANK (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Bank</font>&#8221;);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">W
I T N E S S E T H:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, as of January 4, 2005, the
parties hereto entered into a certain Credit Agreement, as amended (as amended,
the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Agreement</font>&#8221;);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, the parties desire to further
amend the Agreement, subject to the terms contained therein;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>NOW, THEREFORE, in consideration of the
premises, and the mutual promises herein contained, the parties agree that the
Agreement shall be, and it hereby is, amended as provided herein and the parties
further agree as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
I.&#160;&#160;AMENDATORY PROVISIONS</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Article
2.&#160;&#160;Credit</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Line of Credit
Commitment</font>.&#160;&#160;Section 2.1 of the Agreement is hereby amended by
substituting the following new Section 2.1 in lieu of the existing Section
2.1:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Line of Credit
Commitment.</font>&#160;&#160;Subject to the terms and conditions of this
Agreement, Bank shall make Advances under the Line of Credit available to
Borrower in a maximum principal amount equal to the lesser of: (a) Three Million
Dollars ($3,000,000), or (b) the Borrowing Base.&#160;&#160;Advances under the
Line of Credit shall be evidenced by the Replacement Credit Note in the form
attached hereto.&#160;&#160;All Advances under the Line of Credit (whether
currently outstanding or to be made) shall constitute Eurodollar Rate
Advances.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2 <font style="DISPLAY: inline; FONT-WEIGHT: bold">Interest; Unused Fees and Rate
Selection</font>.&#160;&#160;Section 2.2 of the Agreement is hereby amended by
substituting the following new Section 2.2 in lieu of the existing Section
2.2:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2.1.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Line of Credit &#8211;
Interest.</font>&#160;&#160;Prior to maturity or Default, the outstanding
principal balance of Advances under the Line of Credit shall bear interest at a
per annum rate equal to LIBOR <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Five Percent
(5%).&#160;&#160;In the event that LIBOR shall become unavailable, the
outstanding principal balance of Advances under the Line of Credit shall bear
interest at a per annum rate equal to the Prime Rate <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Two Percent
(2%).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
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            <tr>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
              </td>
              <td align="right" valign="top" width="20%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page
  1</font></font></div>
              </td>
            </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2.2.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">General.</font>&#160;&#160;Interest
shall be due and payable for the exact number of days principal is outstanding
and shall be calculated on the basis of a three hundred sixty (360) day
year.&#160;&#160;Any change in the interest rates occasioned by a change in
LIBOR shall be effective on the same day as the change in
LIBOR.&#160;&#160;After the maturity of any Facility, whether by acceleration or
otherwise, and while and so long as there shall exist any uncured Default, the
Facilities shall bear interest at a per annum rate equal to Four Percent (4%)
above the otherwise applicable rates.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2.3.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Unused Fee/Reduction of Line of
Credit Commitment.</font>&#160;&#160;Borrower shall pay to Bank from and after
the date hereof until the date on which Bank&#8217;s commitment under the Line of
Credit is terminated in whole, an unused fee accruing at the rate of the
Applicable Fee per annum on the average daily unborrowed portion of the Line of
Credit minus outstanding Letters of Credit.&#160;&#160;All such unused fees
payable under this clause shall be payable quarterly in arrears on the last day
of each fiscal quarter of Borrower occurring after the date hereof (with the
first such payment being calculated for the period from the date hereof and
ending on March 31, 2005), and, in addition, on the date on which the Bank&#8217;s
commitment under the Line of Credit is terminated in whole.&#160;&#160;Such
unused fee shall be calculated on the basis of the actual number of days elapsed
and a three hundred sixty (360) day year.&#160;&#160;Borrower may permanently
reduce the Bank&#8217;s commitment under the Line of Credit, in whole or in part, in
integral multiples of One Million Dollars ($1,000,000), upon at least three (3)
Banking Days&#8217; written notice to Bank, which notice shall specify the amount of
any such reduction; provided, however, that the amount of Bank&#8217;s commitment
under the Line of Credit may not be reduced below the aggregate principal amount
outstanding thereunder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2.4.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Interest Rate Selection &#8211; Eurodollar
Rate Option.</font>&#160;&#160;[Intentionally left blank].</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.4&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Issuance of Letters of
Credit</font>.&#160;&#160;Section 2.4 of the Agreement is hereby amended by
substituting the following new Section 2.4 in lieu of the existing Section
2.4:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.4&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Issuance of Letters of
Credit.</font>&#160;&#160;Subject to the terms and conditions hereof, the Line
of Credit, at the option of Borrower upon delivery of a proper Letter of Credit
Application, in the form prescribed by Bank, may also be utilized in the form of
Letters of Credit issued by Bank for the account of Borrower.&#160;&#160;Each
Letter of Credit shall have an expiration date not later than the earlier of
twelve (12) months from the date of issuance, or the Line of Credit Maturity
Date.&#160;&#160;The aggregate of the Letters of Credit outstanding at any time
<font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> the aggregate
amount of unreimbursed drawings under the Letters of Credit shall not exceed the
lesser of the unborrowed available portion of the Line of Credit or Seven
Hundred Fifty Thousand Dollars ($750,000.00).&#160;&#160;The amount of any
Letter of Credit outstanding at any time for all purposes hereof shall be the
maximum amount which could be drawn thereunder under any circumstances from and
after the date of determination.&#160;&#160;The Letters of Credit and each
unreimbursed drawing thereunder shall count against and reduce the available
amount under the Line of Credit by the amount of any Letter of Credit
outstanding unless and until such Letter of Credit expires by its terms or
otherwise terminates or the amount of a drawing thereunder is reimbursed, in
which event the Line of Credit shall be reinstated by the amount of such Letter
of Credit or the amount of such reimbursement, as the case may
be.&#160;&#160;Each such Letter of Credit shall conform to the general
requirements of Bank for the issuance of such credits, as to form and substance,
shall be subject to the Uniform Customs and Practices for Documentary Credits
(1993 Revision) International Chamber of Commerce Publication No. 500 or
International Standby Practices Publication 590 of the International Chamber of
Commerce and shall be a letter of credit which Bank may lawfully
issue.&#160;&#160;If and to the extent a drawing is at any time made under any
Letter of Credit, Borrower agrees to pay to Bank immediately and unconditionally
upon demand for reimbursement, in lawful money of the United States, an amount
equal to each amount which shall be so drawn, together with interest from the
date of such drawing to and including the date such payment is reimbursed to
Bank or converted to an Advance under the Line of Credit as provided
herein.&#160;&#160;Until demand for reimbursement, such interest shall be
calculated at a variable per annum rate equal to LIBOR <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Five Percent (5%), and
interest shall be calculated after such demand at a variable per annum rate
equal to LIBOR <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Nine
Percent (9%).&#160;&#160;In the event that LIBOR shall become unavailable, such
interest shall be calculated at a variable per annum rate equal to the Prime
Rate <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Two Percent
(2%), and interest shall be calculated after such demand at a variable per annum
rate equal to the Prime Rate <font style="DISPLAY: inline; FONT-WEIGHT: bold">plus</font> Six Percent
(6%).&#160;&#160;All such interest shall be calculated on the basis that an
entire year&#8217;s interest is earned in three hundred sixty (360)
days.&#160;&#160;Bank shall convert automatically the reimbursement obligations
of Borrower arising out of any such drawing into Advances under the Line of
Credit so long as the Line of Credit has not expired, and Borrower hereby
irrevocably authorizes Bank to refinance, without notice to Borrower, the
reimbursement obligation of Borrower arising out of any such drawing into
Advances under the Line of Credit, evidenced by the Credit Note and for all
purposes under, on and subject to the terms and conditions of this Agreement,
without regard to the conditions precedent to making an Advance under the Line
of Credit or to any requirement of this Agreement that each Advance be a minimal
amount or multiple.&#160;&#160;This Agreement and the other Loan Documents shall
supersede any terms of any letter of credit applications or other documents
which are irreconcilably inconsistent with the terms hereof or
thereof.&#160;&#160;Borrower agrees to pay to Bank, at the time of issuance,
Letter of Credit fees equal to the Applicable Fee of the face amount of each
commercial Letter of Credit and the Applicable Fee per annum of each standby
Letter of Credit.&#160;&#160;Such Letter of Credit fees shall be due and payable
upon issuance and thereafter quarterly in advance on the first day of each
calendar quarter and shall be calculated on the basis that an entire year
consists of three hundred sixty (360) days.&#160;&#160;Such fees shall not be
reduced or refundable for any reason.&#160;&#160;Borrower shall also pay Bank&#8217;s
reasonable and customary costs of issuing, servicing, and negotiating draws
under the Letters of Credit.&#160;&#160;Borrower hereby authorizes Bank to
collect such fees by deducting the amount thereof from any account of Borrower
at Bank.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page&#160;
    2</font></font></div>
            </td>
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      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.9.1.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Line of
Credit</font>.&#160;&#160;Section 2.9.1 of the Agreement is hereby amended by
substituting the following new Section 2.9.1 in lieu of the existing Section
2.9.1:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Borrower
shall give Bank email, telex or telegraphic notice of its intention to borrow
under the Line of Credit (a &#8220;Borrowing Base Request&#8221;) by not later than 10:00
a.m. (Indianapolis time) on the proposed borrowing date, which shall be a
Banking Day.&#160;&#160;With each draw request, Borrower shall submit the
necessary documentation including, but not limited to, a Borrowing Base
reconciliation and any accompanying backup documentation, such as sales
journals, copies of invoices, or other supporting information as deemed
reasonably necessary by the Bank in its sole discretion (collectively, the
&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Borrowing Base
Documentation</font>&#8221;).&#160;&#160;It shall be an Event of Default if any
Borrowing Base Documentation contains any misrepresentations.&#160;&#160;Each
Borrowing Base Request once received by Bank shall be irrevocable, subject to
Section 2.13 hereof.&#160;&#160;Borrower agrees that Bank may rely on any such
email, telex or telegraphic Borrowing Base Request made by any Person whom Bank
in good faith believes to be authorized.&#160;&#160;Each Borrowing Base Request,
including the accompanying Borrowing Base report, shall in and of itself
constitute a representation and warranty on behalf of Borrower that no Default
or Unmatured Default (except the Waived Default expressly waived herein, as
provided by Article 6) has occurred and is continuing or would result from the
making of the Advance requested by the Borrowing Base Request and that the
requested Advance shall not cause the principal balance of the Line of Credit to
exceed the maximum amount available under the Line of Credit from time to
time.&#160;&#160;Provided that there is availability under the Line of Credit,
Bank shall use its commercially reasonable best efforts to deposit each Advance
into the Operating Account (as such term is defined in paragraph 5.2.15) no
later than 2:00 p.m. (Indianapolis time) on the Banking Day upon which the
Borrower makes a Borrowing Base Request.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Article 5.&#160;
Covenants</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2.15&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Banking
Relationship</font>.&#160;&#160;Section 5.2.15 of the Agreement is hereby
amended by substituting the following new Section 5.2.15 in lieu of the existing
Section 5.2.15:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maintain
all of its banking accounts with Bank except for the Excluded Account (as
defined below), including, without limitation, operating, lockbox and autoline
accounts (collectively, the &#8220;Operating Account&#8221;).&#160;&#160;"<font style="DISPLAY: inline; TEXT-DECORATION: underline">Excluded Accounts</font>"
shall be accounts maintained in West Lafayette, IN, Evansville, IN and
McMinnville, OR (locations where Bank does not have branches) for use in local
transactions.&#160;&#160;The balances of funds in those accounts will not exceed
$10,000 each in West Lafayette and Evansville, and $5,000 in McMinnville
(collectively, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Excluded Account
Cap</font>&#8221;).&#160;&#160;Borrower shall also maintain a segregated depository
account at Bank in Bank&#8217;s name as account number ______________(the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash Collateral
Account</font>&#8221;).&#160;&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Excluded Payments</font>&#8221;
shall mean deposits made into the Excluded Accounts, provided that such deposits
do not cause the balance of the respective Excluded Account to exceed the
Excluded Account Cap.&#160;&#160;Borrower agrees that all receipts from the sale
of inventory, collection of accounts, and all other revenues (collectively, the
&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash
Collateral</font>&#8221;) shall be immediately deposited into the Cash Collateral
Account.&#160;&#160;Borrower shall not commingle any of the Cash Collateral with
any other funds or assets, and will deliver the Cash Collateral (including all
checks and other instruments representing proceeds of Borrower&#8217;s inventory,
accounts receivable and all other revenues, but not including any Excluded
Payments) in the form received by Borrower no later than the first business day
after the same are received by Borrower.&#160;&#160;Until so delivered, all such
cash, checks, deposits and other property shall be held in trust by Borrower for
the benefit of Bank.&#160;&#160;Borrower shall have no legal or equitable title
to the Cash Collateral Account or any funds thereto.&#160;&#160;Bank shall
credit the Cash Collateral deposited into the Cash Collateral Account to the
Obligations on the first Banking Day following receipt of collected funds and
reduce the Obligations by such amounts.&#160;&#160;Notwithstanding any other
provision of this Agreement, at any time and from time to time when the
Obligations of Borrower to Bank are paid in full, including all reasonable
attorneys&#8217; fees and other reasonable expenses incurred by Bank in connection
with the Obligations, Bank will transfer all remaining funds in the Cash
Collateral Account to the Operating Account.&#160;&#160;Bank shall have
authority to endorse in the name of Bank and/or Borrower any check or similar
instrument payable to Borrower that may come into the possession of Bank as Cash
Collateral.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page&#160;3</font></font></div>
            </td>
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      </table>
    </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2.17<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;Inventory and Appraisal
of Equipment</font>:&#160;&#160;The following is hereby added to the Agreement
as Section 5.2.17:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On or
before August 15, 2009, provide Bank with a complete inventory of all equipment
owned or leased by Borrower and BAS Evansville, Inc.&#160;&#160;Such inventory
shall indentify any and all security interests held by lenders in each item of
equipment and whether such equipment is being leased.&#160;&#160;For each piece
of equipment that is neither being leased nor subject to any security interests
other than a security interest held by Bank and/or National City Leasing
Corporation, Borrower shall submit an appraisal provided by an accredited
appraiser acceptable to Bank in its sole discretion to Bank on or before August
15, 2009.&#160;&#160;The appraisal shall include both a fair market valuation
and a liquidation valuation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2.18&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Field Exam</font>:&#160;&#160;The
following is hereby added to the Agreement as Section 5.2.18:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Allow
Bank to conduct a field exam(s) of Borrower and/or BAS Evansville, Inc. at the
reasonable discretion of the Bank.&#160;&#160;Representatives and agents of
Bank, may enter upon the premises of Borrower and/or BAS Evansville, Inc. at any
time during their business hours. Such representatives are authorized to copy
and preserve all corporate records and shall have access to all manufacturer
systems and web based interfaces as determined in their sole discretion, and,
further may observe the Borrower&#8217;s compliance with the terms and provisions of
this Agreement, and the Loan Documents, and may verify sales, payments, and the
terms of any sale with customers and any third party, but shall not in any
respect participate in the management of the day-to-day business operations of
the Borrower and/or BAS Evansville, Inc.&#160;&#160;So long as any of the
Obligations are outstanding, or any Obligation may arise pursuant to the Loan
Documents, the Bank may conduct field exams and/or audits of the Borrower and/or
BAS Evansville, Inc., the frequency of which is solely within the discretion of
the Bank.&#160;&#160;In addition, the Borrowers shall use their best efforts to
accommodate the Bank with the observation and investigation permitted hereby.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page
  4</font></font></div>
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      </table>
    </div>
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    <div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
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        </div>
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    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3.2&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Fixed Charge Coverage
Ratio</font>.&#160; Section 5.3.2 of the Agreement is hereby amended by
substituting the following new Section 5.3.2 in lieu of the existing Section
5.3.2:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3.2&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Fixed Charge Coverage
Ratio</font>.&#160; Maintain its Fixed Charge Coverage Ratio at not less than
1:00 to 1:00 as of June 30, 2009 (calculated by annualizing results for the
three (3) month period ended June 30, 2009 by multiplying the numerator and
denominator in the Fixed Charge Coverage Ratio by four (4)), at not less than
1.25 to 1:00 as of September 30, 2009 (calculated by annualizing the results for
the six (6) month period ended September 30, 2009 by multiplying the numerator
and denominator in the Fixed Charge Coverage Ratio by two (2)), and at not less
than 1.50 to 1.00 as of December 31, 2009 (calculated by annualizing the nine
(9) month period ended December 31, 2009 by multiplying the numerator and
denominator in the Fixed Charge Coverage Ratio by one and thirty-three one
hundredths (1.33)).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3.3&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Tangible Net
Worth</font>.&#160; Section 5.3.3 of the Agreement is hereby amended by
substituting the following new Section 5.3.3 in lieu of the existing Section
5.3.3:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3.3&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Tangible Net
Worth</font>.&#160; Maintain its Tangible Net Worth (determined as of the end of
the fiscal quarter) at not less than Twelve Million Dollars ($12,000,000) as of
June 30, 2009, and increasing as of the last day of each fiscal quarter
thereafter by an amount equal to Fifty Percent (50%) of Borrower's net income
(without reduction for any net losses for such fiscal
quarter).&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
II.&#160;&#160;WAIVER</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Subject to the satisfaction of Part IV hereof, Bank hereby waives, for the
fiscal periods ending December 31, 2008, March 31, 2009 and June 30, 2009,
compliance with the provisions of Section 5.3.2 (Fixed Charge Coverage Ratio) of
the Agreement, and further waives, for the fiscal periods ending March 31, 2009
and June 30, 2009, compliance with the provisions of Section 5.3.3 (Tangible Net
Worth) of the Agreement, the merger of BASi Northwest Laboratory, Inc. with and
into the Borrower, the dissolution of BASi Maryland, Inc., as well as any
Default or Unmatured Default by Borrower for noncompliance therewith
(collectively, the &#8220;Waived Default&#8221;).&#160; These waivers shall be in force and
effect solely for the referenced period, unless otherwise agreed by Bank in the
exercise of its sole discretion.&#160;&#160;Notwithstanding the terms of this
Section, Bank is not waiving any default by the Borrower resulting from
Borrower&#8217;s failure to comply with Section 5.3.2 and 5.3.3 as amended by this
Fourth Amendment for the period ending on June 30, 2009.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page&#160;5</font></font></div>
            </td>
          </tr>
      </table>
    </div>
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          </div>
        </div>
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    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
III.&#160;&#160;CONTINUING EFFECT</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
expressly modified herein:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
terms, conditions, representations, warranties and covenants contained in the
Agreement shall remain the same and shall continue in full force and effect,
interpreted, wherever possible, in a manner consistent with this Fourth
Amendment; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, in the event
of any irreconcilable inconsistency, this Fourth Amendment shall
control;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
representations and warranties contained in the Agreement shall survive this
Fourth Amendment in their original form as continuing representations and
warranties of Borrower; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Capitalized
terms used in writing by Bank, and not specifically herein defined, shall have
the meanings ascribed to them in the Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
consideration hereof, Borrower represents, warrants, covenants and agrees
that:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(aa)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
to the extent set forth above, each representation and warranty set forth in the
Agreement, as hereby amended, remains true and correct as of the date hereof in
all material respects, except to the extent that such representation and
warranty is expressly intended to apply solely to an earlier date and except for
changes reflecting transactions permitted by the Agreement;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(bb)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;There
currently exist no offsets, counterclaims or defenses to the performance of the
Obligations (such offsets, counterclaims or defenses, if any, being hereby
expressly waived);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(cc)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
as expressly waived in writing by Bank, there has not occurred any Default or
Unmatured Default; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(dd)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;After
giving effect to this Fourth Amendment and any transactions contemplated hereby,
no Default or Unmatured Default is or will be occasioned hereby or
thereby.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page
  6</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
IV.&#160;&#160;CONDITIONS PRECEDENT</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Notwithstanding anything contained in
this Fourth Amendment to the contrary, Bank shall not have any obligation under
this Fourth Amendment until each of the following conditions precedent have been
fulfilled to the satisfaction of Bank:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Bank
shall have received this Fourth Amendment, duly executed in the form prescribed
by Bank;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Bank
shall have received a Reaffirmation of Guaranty, in the form prescribed by Bank,
duly executed by each Guarantor in existence as of the date hereof;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Bank
shall have received the Replacement Promissory Note duly executed in the form
prescribed by Bank;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Bank
shall have received a duly executed certificate of the Secretary of Borrower (i)
certifying as to attached copies of Resolutions of the Board of Directors of
Borrower authorizing the execution, delivery and performance of this Fourth
Amendment, and (ii) certifying as complete and correct as to attached copies of
the Articles of Incorporation and By-laws of Borrower or certifying that such
Articles of Incorporation or By-laws have not been amended (except as shown)
since the previous delivery thereof to Bank;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Borrower
shall have paid Bank a $7,500 non-refundable waiver fee; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
legal matters incident to this Fourth Amendment shall be reasonably satisfactory
to Bank and its counsel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
V.&#160;&#160;EXPENSES</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Borrower shall reimburse Bank for all
reasonable legal fees and other expenses incurred by Bank in connection with
this Fourth Amendment and the transactions contemplated hereby.&#160;&#160;Bank
is hereby authorized to debit Borrower&#8217;s operating account maintained at Bank
for such legal fees and expenses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PART
VI.&#160;&#160;COUNTERPARTS</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt">This Agreement may be executed in
counterparts, each of which shall constitute an original, but all of which when
taken together shall constitute but one agreement.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[signatures
on following pages]</font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page
  7</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>IN WITNESS WHEREOF, Borrower and Bank
have caused this Fourth Amendment to be executed by their respective officers
duly authorized as of the date first above written.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="3" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8220;BORROWER&#8221;</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="3" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">BIOANALYTICAL
      SYSTEMS, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="6%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
            </td>
            <td valign="top" width="24%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Michael R. Cox</font></td>
            <td valign="top" width="20%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="6%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Printed:</font></div>
            </td>
            <td valign="top" width="24%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Michael
      R. Cox</font></td>
            <td valign="top" width="20%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="6%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Its:</font></div>
            </td>
            <td valign="top" width="24%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">VP
      - Finance</font></td>
            <td valign="top" width="20%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="top" width="20%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">STATE
      OF INDIANA</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)SS:</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="20%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">COUNTY
      OF Tippecanoe</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></div>
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            </tr>
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      <div align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Personally appeared before me, a Notary
Public in and for said County and State, Michael R. Cox of said corporation,
known to me as the person named herein, who after being duly sworn upon his
oath, stated to me that he has been duly authorized and empowered to execute the
foregoing Agreement on behalf of said corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In Witness Whereof, I have hereunto set
my hand and Notarial Seal, this 17th day of July, 2009.</font></div>
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            </td>
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    <div>&#160;</div>
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          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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          </tr>
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            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            <td valign="top" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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          <tr>
            <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
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      John H. Goggins</font></td>
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      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            <td valign="top" width="4%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Its:</font></div>
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            <td valign="top" width="26%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
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      </font></td>
          </tr>
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    </div>
    <div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">FOURTH
      AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Page
  9</font></font></div>
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