<SEC-DOCUMENT>0001144204-12-056914.txt : 20121019
<SEC-HEADER>0001144204-12-056914.hdr.sgml : 20121019
<ACCEPTANCE-DATETIME>20121019095516
ACCESSION NUMBER:		0001144204-12-056914
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121015
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121019
DATE AS OF CHANGE:		20121019

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:		121151569

	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>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v326194_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&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">UNITED STATES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</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">FORM 8-K</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">CURRENT REPORT</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">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</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">&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):
October 15, 2012</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center">BIOANALYTICAL SYSTEMS, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border-bottom: black 1pt solid; text-align: center">Indiana</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: black 1pt solid; text-align: center">0-23357</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; text-align: center">35-1345024</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</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">&nbsp;</P>

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    <TD STYLE="width: 47%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2701 KENT AVENUE</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WEST LAFAYETTE, INDIANA</P></TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 42%; border-bottom: black 1pt solid">
        <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">47906-1382</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</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-indent: 0.5in">Registrant's telephone number, including
area code: (765) 463-4527</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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</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"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule
14a-12 under the Exchange Act(17CFR240.14a-12)</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"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(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"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act(17CFR240.13e-4(c))</P>

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

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%; text-align: left"><B>Item5.02</B></TD><TD STYLE="text-align: justify; width: 90%"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">On October
15, 2012, the Company and Jacqueline M. Lemke, Interim President and Chief Executive Officer and Chief Financial Officer and Vice
President&mdash;Finance, agreed upon an addendum that is attached to and made a part of Ms. Lemke&rsquo;s Employment Agreement
that was effective April 9, 2012. The addendum provides that, during any period Ms. Lemke serves as Interim President and Chief
Executive Officer of the Company, she will receive (a) a cash bonus of $20,000 on the first regular pay date of the Company following
each of October 15, 2012 and January 5, 2013; and (b) a cash bonus equal to two percent (2%) of the consolidated earnings before
interest expense, income tax expense, depreciation expense, amortization expense and restructuring charges of the Company for that
period (&quot;EBITDAR Bonus&quot;). The Company also granted Ms. Lemke options to purchase 50,000 Company common shares at a price
of $1.32 (the closing price of the Company's common shares on October 12, 2012) pursuant to the Company's Employee Stock Option
Plan and an Option Agreement dated October 15, 2012. These options will vest in one installment</FONT> <FONT STYLE="font-size: 10pt">on
or after February 4, 2013 only upon achievement by Ms. Lemke of certain financial performance goals established by the Board of
Directors of the Company. In addition to reimbursement of business expenses in accordance with the Company&rsquo;s standard reimbursement
policies, Ms. Lemke will be entitled to a $1,400 monthly commuting allowance. The Company has also agreed to provide Ms. Lemke
with term life insurance of two times her base salary. If the Board of Directors names Ms. Lemke as President and CEO, the Board
intends to enter into a new employment contract with Ms. Lemke.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">According to the addendum, if Ms. Lemke&rsquo;s
employment is terminated &ldquo;without cause&rdquo; (as defined in the Employment Agreement) or she resigns for &quot;good reason&quot;
(as defined in the Employment Agreement), then the Company shall pay Ms. Lemke, in addition to the provisions in her Employment
Agreement, (a) a pro-rated portion of (i) the cash bonus for the period from July 5, 2012 through the termination or resignation
date and (ii) the EBITDAR bonus for the period which she was employed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Board of Directors names someone
other than Ms. Lemke as President and CEO and Ms. Lemke resigns &ldquo;without cause&rdquo; within thirty (30) days of such appointment,
the Company will pay Ms. Lemke (a) six months of her annual salary; (b) all vacation accrued as of the date of resignation; (c)
an amount equal to six months of her monthly COBRA premiums from the date of resignation; and (d) a pro-rated portion of (i) the
EBITDAR bonus and (ii) any other bonus to which she is entitled. <B> </B></P>

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

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

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%; text-align: left"><B>Item9.01.</B></TD><TD STYLE="text-align: justify; width: 90%"><B>Financial Statements and Exhibits.</B></TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</TD><TD STYLE="text-align: justify">Exhibits:</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1</TD><TD STYLE="text-align: justify">Addendum to Employment Agreement between Jacqueline M. Lemke and Bioanalytical Systems Inc., effective October 15, 2012</TD></TR>
</TABLE>

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

<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>&nbsp;</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR></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"><B>SIGNATURES</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: 0.5in">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 BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="text-transform: uppercase">Bioanalytical
Systems, Inc. </TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Date: October 19, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Jacqueline M. Lemke</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jacqueline M. Lemke<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interim President and Chief Executive Officer and <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer and Vice President&mdash;Finance</TD></TR>
</TABLE>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v326194_10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>ADDENDUM<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS ADDENDUM</B>
(&quot;<U>Addendum</U>&quot;), dated as of the 15<SUP>th</SUP> day of October, 2012 (the &quot;<U>Effective Date</U>&quot;), is
attached to and made a part of the Employment Agreement by and between Bioanalytical Systems, Inc. (the &quot;<U>Company</U>&quot;)
and Jacqueline M. Lemke (&quot;<U>Employee</U>&quot;), dated April 9, 2012 (the &quot;<U>Agreement</U>&quot;). In the event of
any inconsistency between the terms and conditions set forth in this Addendum and the terms and conditions set forth in the Agreement,
or any supplement, attachment or other addendum thereto, or in any subsequent agreement (unless explicitly agreed to in writing
by both of the parties), the terms and conditions set forth in this Addendum shall control and supersede such inconsistent terms
and conditions to the extent of such inconsistency.</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><U>TERMS AND CONDITIONS</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B><U>Interim President and Chief Executive Officer</U></B>. <FONT STYLE="color: black">Beginning
on July 5, 2012, Employee shall also serve as the Interim President and Chief Executive Officer of the Company with such duties
as shall be provided in the Bylaws of the Company or assigned to her by the Board.&nbsp;&nbsp;At any time during which Employee
continues to be Interim President and Chief Executive Officer of the Company, she shall have full responsibility and decision-making
authority for the day-to-day operations of the Company's business, subject to the general control of the Board.&nbsp;&nbsp;On or
prior to February 4, 2013, the Board shall meet to review Employee's performance as Interim President and Chief Executive Officer
and her achievement of performance goals to be established by the Board. Based on this review, the Board will name the Employee
as President and CEO or appoint a person other than the Employee as President and CEO. </FONT>If the Board names the Employee as
President and CEO, the Board will enter into a new employment contract with the Employee. <FONT STYLE="color: black">If the Company
removes Employee from the position of Interim President and Chief Executive Officer and elects a person other than Employee&nbsp;as
President and Chief Executive Officer, the removal of Employee from the position of Interim President and Chief Executive Officer
without removing her as Chief Financial Officer shall not constitute &quot;good reason&quot; for any purpose under the Agreement.</FONT>
If the Board decides to appoint someone other than Employee as permanent President and Chief Executive Officer and Employee provides
notice of her resignation &quot;without cause&quot; within thirty (30) days of such appointment, the Company shall pay the Employee
as compensation for loss of office (a) six (6) months of her annual salary at the Employee&rsquo;s then current salary in equal
monthly installments over the six month period following the date Employee resigns, (b) all vacation accrued as of the date Employee
resigns; (c) an amount equal to her monthly COBRA premiums for a period of six (6) months from the effective date of Employee's
resignation; and (d) a pro-rated portion of (i) the EBITDAR Bonus and (ii) any other bonus to which Employee is entitled.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B><U>Bonus</U>.</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><B>a.</B></TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">As
long as Employee continues to serve as Interim President and Chief Executive Officer on such date, Employee will receive a cash
bonus of $20,000 on the first regular pay date of the Company following each of October 15, 2012 and January 5, 2013. If Employee's
employment is terminated without cause, or if the Employee resigns for good reason, dies or becomes disabled prior to the date
on which the cash bonus pursuant to this section is to be paid, Employee shall receive a pro-rated portion of the cash bonus for
the period from July 5, 2012 until the date on which her employment is so terminated.<B>&nbsp;</B></P>
</TD></TR></TABLE>

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

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><B>b.</B></TD><TD STYLE="text-align: justify">During the Employment Period, Employee will receive a cash bonus, the &ldquo;EBITDAR Bonus&rdquo;, in
an amount equal to two percent (2%) of consolidated earnings before interest expense, income tax expense, depreciation expense,
amortization expense and restructuring charges (&ldquo;<U>EBITDAR</U>&rdquo;) of the Company (before any payment or accrual related
to the EBITDAR Bonus), which, in the first fiscal year shall be based upon consolidated earnings from the start date through the
fiscal year end. The EBITDAR Bonus shall be paid annually on the first regular pay date of the Company, after the Board has confirmed
the amount of the Company&rsquo;s EBITDAR and the EBITDAR Bonus for the relevant period. The Board shall make such confirmation
promptly upon completion of the audited consolidated financial statements of the Company for each fiscal year. If Employee's employment
is terminated without cause, or if the Employee resigns for good reason, dies or becomes disabled prior to the fiscal year end
on which the EBITDAR Bonus is calculated, Employee shall receive a pro-rated portion of the EBITDAR Bonus for the period during
which she was employed which shall be payable as described above.<P STYLE="margin: 0pt 0"></P>
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<P STYLE="margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><B>c.</B></TD><TD STYLE="text-align: justify">This <U>Section 2</U> of this Addendum will replace Section 1.2.3 of the Agreement in its entirety.</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B><U>Commuting Allowance</U>.</B> Commencing on July 5, 2012 and continuing until such time, if
ever, that Employee relocates to West Lafayette, Indiana, Employee shall be entitled to receive a commuting allowance of $1,400.00
per month.</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B><U>Other Benefits</U>.</B> During the Employment Period, Employee shall be entitled to term
life insurance of two times base salary.</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B><U>Stock Options</U>.</B> On the Effective Date, Employee will receive a grant of options to
purchase 50,000 Company shares under the Company's Employee Stock Option Plan (the &quot;<U>Option Plan</U>&quot;) and an option
agreement to be entered into between the Company and Employee. The exercise price of the options shall be the fair market value
of the Company's common shares on the Effective Date (determined as provided in the Option Plan) and the options will vest and
become exercisable upon achievement by Employee of certain financial performance goals established by the Board of Directors of
the Company (the &quot;<U>Board</U>&quot;), subject to the conditions set forth in the Option Plan and related agreement. The Board
will determine if Employee has met such financial performance goals no later than February 4, 2013.</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B><U>Term</U>. </B>The Initial Term shall be extended for successive one year periods (the &quot;<U>Additional
Terms</U>&quot; and together with the Initial Term, the &quot;<U>Employment Period</U>&quot;), except that if either Employee or
the Company gives the other party written notice at least ninety (90) days before the end of the Initial Term or any Additional
Term, then the Agreement, including this Addendum, shall expire at the end of its then current term.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Signatures Begin on Following Page]</B></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; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the Company and Employee have caused this Addendum to be executed as of the Effective Date.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0"><B>THE &quot;COMPANY&quot;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">BIOANALYTICAL SYSTEMS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">By: <U>/s/ Larry S. Boulet</U>________________&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Larry S. Boulet,
Audit Committee Chair</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0"><B>&quot;EMPLOYEE&quot;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-indent: 0"><U>/s/ Jacqueline M. Lemke</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-align: justify; text-indent: 0">Jacqueline
M. Lemke</P>

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