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

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

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<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):
March 30, 2012</P>

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

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

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

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

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

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<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>

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<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>

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<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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 30, 2012, the Board of Directors
of Bioanalytical Systems, Inc. (the &quot;Company&quot;) approved certain changes to the Company's senior management. Jacqueline
M. Lemke will join the company as Chief Financial Officer (CFO) and Vice President of Finance, effective April 9, 2012. Ms. Lemke
succeeds Michael R. Cox, whose amended employment agreement expired on March 31, 2012. In connection with Mr. Cox's departure from
the Company, the Board of Directors approved a severance payment to Mr. Cox of $165,000, his yearly salary, payable in twenty four
equal semi-monthly installments commencing April 1, 2012, as well as his accrued, but unused vacation time. Mr. Cox will also remain
an eligible participant in the Company&rsquo;s sponsored medical plan through March 31, 2013.</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">Prior to joining BASi,
Ms. Lemke, 49, was Vice President of Finance and Global CFO of Remy, Inc. from 2007 &ndash; 2010 where she built a 44-person global
finance team and created a financial system to support rapid decision making and clear lines of management accountability. From
2004 - 2005, she served as Vice President of Finance, Global CFO Connected Home Solutions at Motorola, Inc., and, prior to that,
was Strategic Planning Director, Global Invista division at DuPont. Ms. Lemke is a Certified Public Accountant (CPA) and began
her career as a tax consultant at Deloitte &amp; Touche. She earned her bachelor&rsquo;s degree in finance and accounting from
Drexel University and her master&rsquo;s degree in management from Northwestern University.</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">Effective April 9, 2012, the Company and
Ms. Lemke entered into an Employment Agreement (the &quot;Employment Agreement&quot;). The initial term of the Employment Agreement
expires on February 28, 2015; provided that, the term is automatically renewed for successive one year terms unless either Ms.
Lemke or the Company gives the other party written notice of its intent to terminate at least ninety days (90) before the end of
the initial term. The Employment Agreement provides that (a) Ms. Lemke&rsquo;s base salary will be $17,683.33 per month, and (b)
she will receive an annual cash bonus equal to two percent (2%) of the consolidated earnings before interest expense, income tax
expense, depreciation expense and amortization expense of the Company for the year (&quot;EBITDA Bonus&quot;). Ms. Lemke is also
eligible for a standard relocation package during the first year of employment. Further, Ms. Lemke is also eligible to participate
in all employee benefit plans which are generally made available to employees of the Company, subject to the eligibility, qualification,
waiting period and other terms and conditions of such plans as they shall be in effect from time to time unless listed herein as
exceptions from those terms and conditions.</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 Employment Agreement, if
Ms. Lemke&rsquo;s employment is terminated without Cause (as defined in the Employment Agreement) or she resigns for &quot;Good
Reason&quot; (as defined in the Employment Agreement), then the Company shall (a) pay Ms. Lemke (i) her current salary through
the termination date or resignation date; (ii) all vacation accrued as of the date of resignation or termination, and (iii) all
bonuses earned but not paid as of the date of termination or resignation; and (b) pay Ms. Lemke as compensation for loss of office
twelve (12) months base salary at her then current salary. If Ms. Lemke is terminated for Cause or resigns without Good Reason,
the Company will pay Ms. Lemke (x) her earned but unpaid then-current base salary through the date of termination or resignation
(y) all vacation accrued as of the date of termination or resignation and (z) all bonuses earned but not paid as of the date of
termination or resignation. <B> </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
her employment with BASi, BASi granted Ms. Lemke an option to purchase 125,000 shares of common stock in accordance with NASDAQ
Listing Rule 5635(c)(4).&nbsp; The grant, which is outside the BASi 2008 Director and Employee Stock Option Plan, was approved
by the Compensation Committee of the Board of Directors as an inducement material to Ms. Lemke entering into employment with BASi
and will be effective on April 9, 2012.&nbsp; The options vest in equal installments on March 31, 2013 and March 31, 2014, subject
to Ms. Lemke's continued employment with BASi, expire on the tenth anniversary of the effective date of the grant and are exercisable
at a price equal to the closing price on April 6, 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event Ms. Lemke&rsquo;s employment
terminates within one year following a &quot;Change in Control&quot; of the Company, as defined in the Employment Agreement, Ms.
Lemke would be entitled to receive her base salary for the 12 months prior to termination payable semi-monthly for at least one
year. Ms. Lemke would also be eligible for any special bonus program instituted by the Company during the transition period leading
up to or following the Change in Control.</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">On April 5, 2012, the Company issued a press
release announcing Ms. Lemke&rsquo;s hiring. The full text of the press release is furnished as Exhibit 99.1 to this Form 8-K and
is incorporated herein by reference.</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">&nbsp;<B>Item 9.01.<FONT STYLE="color: black">&nbsp;</FONT>Financial
Statements and Exhibits.</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 36pt"></TD><TD STYLE="width: 40.8pt">10.1</TD><TD>Employment Agreement between Jacqueline M. Lemke and Bioanalytical Systems Inc., effective April 9, 2012</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 36pt"></TD><TD STYLE="width: 40.5pt">10.2</TD><TD>Severance Agreement between Michael R. Cox and Bioanalytical Systems Inc., dated March 30, 2012.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 36pt"></TD><TD STYLE="width: 40.5pt">99.1</TD><TD>Bioanalytical Systems, Inc. press release, issued April 5, 2012.</TD></TR></TABLE>

<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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

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<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; width: 50%">Date: April 5, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Lina L. Reeves-Kerner</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Lina L. Reeves-Kerner<BR> Senior Vice President, Human Resources</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8in; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8in; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></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: 1.5in; text-align: left"><FONT STYLE="font-size: 10pt"><U>Exhibit</U></FONT> <FONT STYLE="font-size: 10pt"><U>No.</U></FONT><FONT STYLE="color: black">&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Description</U></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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"></TD><TD STYLE="width: 1.5in">10.1</TD><TD>Employment Agreement between Jacqueline M. Lemke and Bioanalytical Systems Inc., effective April 9, 2012</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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"></TD><TD STYLE="width: 1.5in">10.2</TD><TD>Severance Agreement between Michael R. Cox and Bioanalytical Systems Inc., dated March 30, 2012.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Bioanalytical Systems, Inc. press release, issued April
5, 2012.</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>

<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"></P>

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 30, 2012
BIOANALYTICAL SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Indiana
0-23357
35-1345024
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
2701 KENT AVENUE
WEST LAFAYETTE, INDIANA
47906-1382
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code: (765) 463-4527
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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2012, the Board of Directors
of Bioanalytical Systems, Inc. (the "Company") approved certain changes to the Company's senior management. Jacqueline
M. Lemke will join the company as Chief Financial Officer (CFO) and Vice President of Finance, effective April 9, 2012. Ms. Lemke
succeeds Michael R. Cox, whose amended employment agreement expired on March 31, 2012. In connection with Mr. Cox's departure from
the Company, the Board of Directors approved a severance payment to Mr. Cox of $165,000, his yearly salary, payable in twenty four
equal semi-monthly installments commencing April 1, 2012, as well as his accrued, but unused vacation time. Mr. Cox will also remain
an eligible participant in the Company's sponsored medical plan through March 31, 2013.
Prior to joining BASi,
Ms. Lemke, 49, was Vice President of Finance and Global CFO of Remy, Inc. from 2007 – 2010 where she built a 44-person global
finance team and created a financial system to support rapid decision making and clear lines of management accountability. From
2004 - 2005, she served as Vice President of Finance, Global CFO Connected Home Solutions at Motorola, Inc., and, prior to that,
was Strategic Planning Director, Global Invista division at DuPont. Ms. Lemke is a Certified Public Accountant (CPA) and began
her career as a tax consultant at Deloitte & Touche. She earned her bachelor's degree in finance and accounting from
Drexel University and her master's degree in management from Northwestern University.
Effective April 9, 2012, the Company and
Ms. Lemke entered into an Employment Agreement (the "Employment Agreement"). The initial term of the Employment Agreement
expires on February 28, 2015; provided that, the term is automatically renewed for successive one year terms unless either Ms.
Lemke or the Company gives the other party written notice of its intent to terminate at least ninety days (90) before the end of
the initial term. The Employment Agreement provides that (a) Ms. Lemke's base salary will be $17,683.33 per month, and (b)
she will receive an annual cash bonus equal to two percent (2%) of the consolidated earnings before interest expense, income tax
expense, depreciation expense and amortization expense of the Company for the year ("EBITDA Bonus"). Ms. Lemke is also
eligible for a standard relocation package during the first year of employment. Further, Ms. Lemke is also eligible to participate
in all employee benefit plans which are generally made available to employees of the Company, subject to the eligibility, qualification,
waiting period and other terms and conditions of such plans as they shall be in effect from time to time unless listed herein as
exceptions from those terms and conditions.
According to the Employment Agreement, if
Ms. Lemke's employment is terminated without Cause (as defined in the Employment Agreement) or she resigns for "Good
Reason" (as defined in the Employment Agreement), then the Company shall (a) pay Ms. Lemke (i) her current salary through
the termination date or resignation date; (ii) all vacation accrued as of the date of resignation or termination, and (iii) all
bonuses earned but not paid as of the date of termination or resignation; and (b) pay Ms. Lemke as compensation for loss of office
twelve (12) months base salary at her then current salary. If Ms. Lemke is terminated for Cause or resigns without Good Reason,
the Company will pay Ms. Lemke (x) her earned but unpaid then-current base salary through the date of termination or resignation
(y) all vacation accrued as of the date of termination or resignation and (z) all bonuses earned but not paid as of the date of
termination or resignation.
In connection with
her employment with BASi, BASi granted Ms. Lemke an option to purchase 125,000 shares of common stock in accordance with NASDAQ
Listing Rule 5635(c)(4).  The grant, which is outside the BASi 2008 Director and Employee Stock Option Plan, was approved
by the Compensation Committee of the Board of Directors as an inducement material to Ms. Lemke entering into employment with BASi
and will be effective on April 9, 2012.  The options vest in equal installments on March 31, 2013 and March 31, 2014, subject
to Ms. Lemke's continued employment with BASi, expire on the tenth anniversary of the effective date of the grant and are exercisable
at a price equal to the closing price on April 6, 2012.
In the event Ms. Lemke's employment
terminates within one year following a "Change in Control" of the Company, as defined in the Employment Agreement, Ms.
Lemke would be entitled to receive her base salary for the 12 months prior to termination payable semi-monthly for at least one
year. Ms. Lemke would also be eligible for any special bonus program instituted by the Company during the transition period leading
up to or following the Change in Control.
On April 5, 2012, the Company issued a press
release announcing Ms. Lemke's hiring. The full text of the press release is furnished as Exhibit 99.1 to this Form 8-K and
is incorporated herein by reference.
Item 9.01.
Financial
Statements and Exhibits.
(d)  Exhibits:
10.1
Employment Agreement between Jacqueline M. Lemke and Bioanalytical Systems Inc., effective April 9, 2012
10.2
Severance Agreement between Michael R. Cox and Bioanalytical Systems Inc., dated March 30, 2012.
99.1
Bioanalytical Systems, Inc. press release, issued April 5, 2012.
2
SIGNATURES
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.
Bioanalytical
Systems, Inc.
Date: April 5, 2012
By:
/s/ Lina L. Reeves-Kerner
Lina L. Reeves-Kerner
Senior Vice President, Human Resources
3
Exhibit Index
Exhibit
No.
Description
10.1
Employment Agreement between Jacqueline M. Lemke and Bioanalytical Systems Inc., effective April 9, 2012
10.2
Severance Agreement between Michael R. Cox and Bioanalytical Systems Inc., dated March 30, 2012.
99.1
Bioanalytical Systems, Inc. press release, issued April
5, 2012.
4