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<title>Pro-Dex Inc. Form 8-K</title>



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<p style='margin:0in;margin-bottom:.0001pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'><b>UNITED STATES</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">Washington</font></b><b><font style="font-size: 12.0pt">,
 D.C.</font></b><b><font style="font-size: 12.0pt"> 20549</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">FORM 8-K</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><b><font style="font-size: 12.0pt">&nbsp;</font></b></p>

<h2 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:bold;'>CURRENT REPORT</h2>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">Pursuant to Section 13 OR 15(d) of the</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">Securities Exchange Act of 1934</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">Date of Report </font></p>

<h1 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:normal;'>(Date of earliest event reported)<b> </b></h1>

<h1 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:normal;'><b>October 6, 2010</b></h1>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">PRO-DEX, INC.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">(Exact name of registrant as specified in its charter)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

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<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'><b><font style="font-size: 12.0pt">COLORADO</font></b></p>

		</td>
		<td align="center" width="34%"><b>&nbsp;<font style="font-size: 12.0pt">0-14942</font></b></td>
		<td align="center" width="33%"><b><font style="font-size: 12.0pt">
		84-1261240</font></b></td>
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<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman"; margin-top:0in'>
<font style="font-size: 12.0pt">(State or other </font></p>

		</td>
		<td align="center" width="34%"><font style="font-size: 12.0pt">
		(Commission File Number)</font></td>
		<td align="center" width="33%"><font style="font-size: 12.0pt">(I.R.S.
Employer </font></td>
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		<td align="center" width="33%">

<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman"; margin-top:0in'>
<font style="font-size: 12.0pt">jurisdiction of</font></p>

		</td>
		<td align="center" width="34%">&nbsp;</td>
		<td align="center" width="33%"><font style="font-size: 12.0pt">
		Identification Number)</font></td>
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<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in'>
<font style="font-size: 12.0pt">incorporation)</font></p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>
<b>2361 McGaw Avenue</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b>Irvine</b><b>, Ca.
92614</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">(Address of principal executive offices, zip code)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>
<b><font style="font-size: 12.0pt">(949) 769-3200</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 12.0pt">(Registrant&#146;s telephone number, including area code)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'>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 ( <i>see </i>General
Instruction A.2. below): </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp; [ ]
&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425) </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp; [ ]
&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12) </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp; [ ]
&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp; [ ]
&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) </p>

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</u></b>

<div style='page:Section2;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-indent:.5in'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'><b><font style="font-size: 12.0pt">
<u>Item
5.02</u>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Departure of Directors or Certain Officers; Election of
Directors;</u></font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Appointment
of Certain Officers; Compensatory Arrangements of</u></font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-autospace:none'><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Certain
Officers.</u></font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">(b)</font></p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'><i>Resignation of
Chief Financial Officer.</i></p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On October
6, 2010, Pro-Dex, Inc. (the &#147;Company&#148;) reported that Jeffrey S. Ritchey, the Company&#146;s
Chief Financial Officer, resigned from his employment with the Company,
effective October 5, 2010 (the &#147;Separation Date&#148;). On October 7, 2010, the
Company and Mr. Ritchey entered into a Separation Agreement and General Release
of All Claims (&#147;Separation Agreement&#148;) concerning the conclusion of Mr. Ritchey&#146;s
employment services with the Company. A complete copy of the Separation
Agreement is attached to this report as Exhibit 10.1 and the summary set forth
below is qualified in its entirety by the full text of the Separation
Agreement. </p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under
the terms of the Separation Agreement, Mr. Ritchey will be paid all unpaid base
salary, unreimbursed business expenses, less state and federal taxes and other
required withholding, for the period through the Separation Date. </p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provided
that the Separation Agreement has not been revoked by Mr. Ritchey prior to the
expiration of the seven day revocation period described below, the Company will,
among other things, also: (i) pay Mr. Ritchey severance compensation in the
gross amount of $85,000, representing six months of Mr. Ritchey&#146;s base salary
at the annual rate in effect as of the Separation Date, which will be paid in
substantially equal installments on the Company&#146;s regularly scheduled payroll
dates over a six month period beginning with the next regularly scheduled
payroll date following the Separation Date; and (ii) provided Mr. Ritchey
elected coverage under the Company&#146;s group health insurance program prior to
the Separation Date and makes a timely election for continued coverage pursuant
to COBRA, continue to pay the Company&#146;s portion of the monthly premiums for
such continued coverage under the Company&#146;s group health insurance program for
a period from the Separation Date through April 30, 2011.</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mr. Ritchey
has provided the Company and its affiliates with a general release of claims,
subject to certain statutory exceptions set forth in the Separation Agreement.</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant
to applicable law, Mr. Ritchey has a period of seven calendar days to revoke
the Separation Agreement by providing the Company with written notice of such
revocation. Any revocation of the Separation Agreement, however, shall not
affect the finality of the separation of Mr. Ritchey&#146;s employment with the
Company on the Separation Date. </p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
connection with Mr. Ritchey&#146;s resignation, the Company has entered into a
consulting agreement to engage Mr. Ritchey as an independent contractor through
December 31, 2010, for a total consulting fee of $20,000.&nbsp; In the event the
Company requests, and Mr. Ritchey performs, services for the Company in excess
of 200 hours during the term of the consulting agreement, the Company will pay
$100 per hour for each such excess hour of service performed.</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>(c)</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'><i>Appointment of
New Chief Financial Officer and Employment Arrangement Between the Company and
Harold A. Hurwitz.</i></p>
<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;</p>
<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in' align="center">
<font size="2">2</font></p>
<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in' align="center">&nbsp;</p>

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</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='font-size:10.0pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;</p>

<p style='font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt; margin-left:0in; margin-right:0in'>&nbsp;</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On October
6, 2010, pursuant to authorization by the Board of Directors (the &#147;Board&#148;) of the
Company, Harold A. Hurwitz began service as the Company&#146;s Chief Financial
Officer.&nbsp; Prior to his appointment, Mr. Hurwitz, age 58, was an independent
consultant.&nbsp; From April 2008 to February 2010, Mr. Hurwitz served as Chief
Financial Officer and Vice President of Interventional Spine, Inc., a medical
device company.&nbsp; Prior to joining Interventional Spine in April 2008, Mr.
Hurwitz served as Principal Consultant with McDermott &amp; Bull from December
2005 to March 2008.&nbsp; Mr. Hurwitz has also served as an independent consultant
from December 2004 to December 2005.&nbsp; He was Chief Financial Officer of Micro
Therapeutics Inc. from December 1997 to December 2004 and also served as its
Principal Accounting Officer until December 2004.&nbsp; Earlier in his career, Mr.
Hurwitz was an employee and Partner with Coopers &amp; Lybrand L.L.P., where he
was a Business Assurance Partner, Team Leader of its Orange County Medical
Device Practice and an SEC Review Partner. He has a broad financial background
that includes more than 30 years of public accounting and financial management experience.&nbsp;
In addition, he has leadership experience in human resources and information
technology, diversified fund raising and Sarbanes-Oxley compliance. &nbsp;Mr.
Hurwitz holds a B.A. in Economics from the University of California, Los
Angeles.</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
connection with the appointment, the Company and Mr. Hurwitz entered into an
at-will employment arrangement (&#147;Employment Arrangement&#148;).&nbsp; The Employment
Arrangement is attached to this report as Exhibit 10.2, which exhibit is
incorporated herein by this reference.&nbsp; Under the terms of the Employment
Arrangement, Mr. Hurwitz will report to the Chief Executive Officer of the
Company and his compensation will consist of the following components:</p>

<ul>
	<li>
	<p style='font-family:"Times New Roman";margin-right:0in'>A base salary at an
annualized rate of $185,000.</p></li>
	<li>
	<p style='font-family:"Times New Roman";margin-right:0in'>Participation in the
Company&#146;s Annual Incentive Plan and Long Term Incentive Plan.</p></li>
	<li>
	<p style='font-family:"Times New Roman";margin-right:0in'>Mr. Hurwitz is
permitted to participate in any program of stock options or other equity grants
which the Company may from time to time provide key employees. Such grants are
made under the terms and provisions of the First Amended and Restated 2004
Stock Option Plan.&nbsp;&nbsp; Subject to the foregoing, the initial grant under this
program is 20,000 options to purchase the Company&#146;s common shares at the
average of the high and low prices for the Company&#146;s shares on the grant date
and which will vest ratably over the 36 month period following the grant date.&nbsp;
The options will have a term of ten years from the grant date and to the
maximum extent permissible under the relevant Internal Revenue Service
regulations, will be made as Incentive Stock Options.</p></li>
	<li>
	<p style='font-family:"Times New Roman";margin-right:0in'>Health, dental,
disability and life insurance, qualified retirement plans, and optional
employee benefits of the Company on the same terms as other employees of the
Company, except Mr. Hurwitz will not participate in the Company-wide employee bonus
plan.</p></li>
</ul>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'>(e)</p>

<p style='font-family:"Times New Roman"; margin-left:0in; margin-right:0in'><i>Amendment to
Compensatory Plan.</i></p>
<p style='font-family:"Times New Roman"; text-indent:0.5in; margin-left:0in; margin-right:0in'>On October
7, 2010, the Board, upon recommendation of the Company&#146;s Compensation
Committee, approved certain amendments to the Company&#146;s Long-Term Incentive
Plan (the &#147;LTIP&#148;) to make clear its conformity with the terms and provisions of
the Company&#146;s First Amended and Restated 2004 Stock Option Plan.&nbsp; The LTIP, as
amended, is attached to this report as Exhibit 10.3, which exhibit is
incorporated herein by reference.</p>

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<font size="2">&nbsp;3</font></p>
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<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><b><u><font style="font-size: 12.0pt">Item 9.01</font></u></b><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Financial Statements and
Exhibits.</u></font></b></p>

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	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in"><font style="font-size: 12.0pt">(d)</font></td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit.</font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top">&nbsp;</td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.1</font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font size="3">Separation Agreement between Pro-Dex, Inc.
and Jeffrey S. Ritchey,<br>
dated October 7, 2010.</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top">&nbsp;</td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.2 </font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font style="font-size: 12.0pt">Employment
Arrangement between Pro-Dex, Inc. and Harold A. Hurwitz.</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top">&nbsp;</td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top" style="width: 0.5in">&nbsp;</td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.3</font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font style="font-size: 12.0pt">Long-Term
Incentive Plan as amended on October 7, 2010.</font></p>

		</td>
	</tr>
</table>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=744
 style='width:7.75in;border-collapse:collapse'>
 <tr>
  <td width=252 valign=bottom style='width:189.0pt;padding:0in 1.8pt 0in 1.8pt'>
  &nbsp;</td>
  <td width=120 valign=bottom style='width:1.25in;padding:0in 1.8pt 0in 1.8pt'>
  &nbsp;</td>
  <td width=120 valign=bottom style='width:1.25in;padding:0in 1.8pt 0in 1.8pt'>
  &nbsp;</td>
  <td width=252 valign=bottom style='width:189.0pt;padding:0in 1.8pt 0in 1.8pt'>
  &nbsp;</td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 8.0pt">&nbsp;</font></p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>

<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">
4</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>

<hr size=2 width="100%" noshade color=navy align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<br clear=all
style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">SIGNATURES</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:justify;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

<table border="0" style="border-collapse: collapse" width="100%" id="table3">
	<tr>
		<td width="50%"><font style="font-size: 12.0pt">Date:&nbsp; October 11, 2010</font></td>
		<td width="50%">

<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman"; margin-top:0in'>
<font style="font-size: 12.0pt"><b>PRO-DEX, Inc (Registrant).</b></font></p>

		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">

<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman"; margin-top:0in'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">

<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman"; margin-top:0in'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">

<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in'><font style="font-size: 12.0pt">By:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Mark P. Murphy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></p>

		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">

<h3 style='margin-top:0in;margin-bottom:0in;margin-bottom:.0001pt;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:normal'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark P. Murphy<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Executive Officer</h3>

		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">&nbsp;</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 8.0pt">&nbsp;</font></p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>

<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">
5</p>
<p style="font-size: 10.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>

<hr size=2 width="100%" noshade color=navy align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<br clear=all
style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 12.0pt">INDEX TO EXHIBITS</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><b><font style="font-size: 12.0pt">&nbsp;</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></p>

<h4 style='margin:0in;margin-bottom:.0001pt;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:bold;'>&nbsp;&nbsp;  Exhibit</h4>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><b><u><font style="font-size: 12.0pt">&nbsp; Number&nbsp; </font></u></b><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Description&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></b><font style="font-size: 12.0pt"> </font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<table border="0" style="border-collapse: collapse" width="100%" id="table4">
	<tr>
		<td nowrap valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.1</font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font size="3">Separation Agreement between Pro-Dex, Inc.
and Jeffrey S. Ritchey,<br>
dated October 7, 2010.</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top">&nbsp;</td>
		<td nowrap width="117" valign="top">&nbsp;</td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top">&nbsp;</td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.2 </font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font style="font-size: 12.0pt">Employment
Arrangement between Pro-Dex, Inc. and Harold A. Hurwitz.</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top">&nbsp;</td>
		<td nowrap width="117" valign="top">&nbsp;</td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'><font style="font-size: 12.0pt">&nbsp;</font></p>

		</td>
	</tr>
	<tr>
		<td nowrap valign="top">&nbsp;</td>
		<td nowrap width="117" valign="top"><font style="font-size: 12.0pt">
		Exhibit 10.3</font></td>
		<td width="1188" valign="top">

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>
<font style="font-size: 12.0pt">Long-Term
Incentive Plan as amended on October 7, 2010.</font></p>

		</td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp; </p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">6</font></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>

</div>

</body>

</html>
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{"company-data": {"conformed-name": "PRO DEX INC", "cik": "0000788920", "assigned-sic": "3841", "irs-number": "841261240", "state-of-incorporation": "CO", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-14942", "film-number": "101119056"}, "business-address": {"street1": "2361 MCGAW AVENUE", "city": "IRVINE", "state": "CA", "zip": "92614", "phone": "949-769-3200"}, "mail-address": {"street1": "2361 MCGAW AVENUE", "city": "IRVINE", "state": "CA", "zip": "92614"}}
Pro-Dex Inc. Form 8-K
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)
October 6, 2010
PRO-DEX, INC.
(Exact name of registrant as specified in its charter)
COLORADO
0-14942
84-1261240
(State or other
(Commission File Number)
(I.R.S.
Employer
jurisdiction of
Identification Number)
incorporation)
2361 McGaw Avenue
Irvine
, Ca.
92614
(Address of principal executive offices, zip code)
(949) 769-3200
(Registrant's telephone number, including area code)
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 (
see
General
Instruction A.2. below):
[ ]
 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 (17
CFR 240.14a-12)
[ ]
 Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ]
 Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item
5.02
.
Departure of Directors or Certain Officers; Election of
Directors;
Appointment
of Certain Officers; Compensatory Arrangements of
Certain
Officers.
(b)
Resignation of
Chief Financial Officer.
On October
6, 2010, Pro-Dex, Inc. (the "Company") reported that Jeffrey S. Ritchey, the Company's
Chief Financial Officer, resigned from his employment with the Company,
effective October 5, 2010 (the "Separation Date"). On October 7, 2010, the
Company and Mr. Ritchey entered into a Separation Agreement and General Release
of All Claims ("Separation Agreement") concerning the conclusion of Mr. Ritchey's
employment services with the Company. A complete copy of the Separation
Agreement is attached to this report as Exhibit 10.1 and the summary set forth
below is qualified in its entirety by the full text of the Separation
Agreement.
Under
the terms of the Separation Agreement, Mr. Ritchey will be paid all unpaid base
salary, unreimbursed business expenses, less state and federal taxes and other
required withholding, for the period through the Separation Date.
Provided
that the Separation Agreement has not been revoked by Mr. Ritchey prior to the
expiration of the seven day revocation period described below, the Company will,
among other things, also: (i) pay Mr. Ritchey severance compensation in the
gross amount of $85,000, representing six months of Mr. Ritchey's base salary
at the annual rate in effect as of the Separation Date, which will be paid in
substantially equal installments on the Company's regularly scheduled payroll
dates over a six month period beginning with the next regularly scheduled
payroll date following the Separation Date; and (ii) provided Mr. Ritchey
elected coverage under the Company's group health insurance program prior to
the Separation Date and makes a timely election for continued coverage pursuant
to COBRA, continue to pay the Company's portion of the monthly premiums for
such continued coverage under the Company's group health insurance program for
a period from the Separation Date through April 30, 2011.
Mr. Ritchey
has provided the Company and its affiliates with a general release of claims,
subject to certain statutory exceptions set forth in the Separation Agreement.
Pursuant
to applicable law, Mr. Ritchey has a period of seven calendar days to revoke
the Separation Agreement by providing the Company with written notice of such
revocation. Any revocation of the Separation Agreement, however, shall not
affect the finality of the separation of Mr. Ritchey's employment with the
Company on the Separation Date.
In
connection with Mr. Ritchey's resignation, the Company has entered into a
consulting agreement to engage Mr. Ritchey as an independent contractor through
December 31, 2010, for a total consulting fee of $20,000.  In the event the
Company requests, and Mr. Ritchey performs, services for the Company in excess
of 200 hours during the term of the consulting agreement, the Company will pay
$100 per hour for each such excess hour of service performed.
(c)
Appointment of
New Chief Financial Officer and Employment Arrangement Between the Company and
Harold A. Hurwitz.
2
On October
6, 2010, pursuant to authorization by the Board of Directors (the "Board") of the
Company, Harold A. Hurwitz began service as the Company's Chief Financial
Officer.  Prior to his appointment, Mr. Hurwitz, age 58, was an independent
consultant.  From April 2008 to February 2010, Mr. Hurwitz served as Chief
Financial Officer and Vice President of Interventional Spine, Inc., a medical
device company.  Prior to joining Interventional Spine in April 2008, Mr.
Hurwitz served as Principal Consultant with McDermott & Bull from December
2005 to March 2008.  Mr. Hurwitz has also served as an independent consultant
from December 2004 to December 2005.  He was Chief Financial Officer of Micro
Therapeutics Inc. from December 1997 to December 2004 and also served as its
Principal Accounting Officer until December 2004.  Earlier in his career, Mr.
Hurwitz was an employee and Partner with Coopers & Lybrand L.L.P., where he
was a Business Assurance Partner, Team Leader of its Orange County Medical
Device Practice and an SEC Review Partner. He has a broad financial background
that includes more than 30 years of public accounting and financial management experience. 
In addition, he has leadership experience in human resources and information
technology, diversified fund raising and Sarbanes-Oxley compliance.  Mr.
Hurwitz holds a B.A. in Economics from the University of California, Los
Angeles.
In
connection with the appointment, the Company and Mr. Hurwitz entered into an
at-will employment arrangement ("Employment Arrangement").  The Employment
Arrangement is attached to this report as Exhibit 10.2, which exhibit is
incorporated herein by this reference.  Under the terms of the Employment
Arrangement, Mr. Hurwitz will report to the Chief Executive Officer of the
Company and his compensation will consist of the following components:
A base salary at an
annualized rate of $185,000.
Participation in the
Company's Annual Incentive Plan and Long Term Incentive Plan.
Mr. Hurwitz is
permitted to participate in any program of stock options or other equity grants
which the Company may from time to time provide key employees. Such grants are
made under the terms and provisions of the First Amended and Restated 2004
Stock Option Plan.   Subject to the foregoing, the initial grant under this
program is 20,000 options to purchase the Company's common shares at the
average of the high and low prices for the Company's shares on the grant date
and which will vest ratably over the 36 month period following the grant date. 
The options will have a term of ten years from the grant date and to the
maximum extent permissible under the relevant Internal Revenue Service
regulations, will be made as Incentive Stock Options.
Health, dental,
disability and life insurance, qualified retirement plans, and optional
employee benefits of the Company on the same terms as other employees of the
Company, except Mr. Hurwitz will not participate in the Company-wide employee bonus
plan.
(e)
Amendment to
Compensatory Plan.
On October
7, 2010, the Board, upon recommendation of the Company's Compensation
Committee, approved certain amendments to the Company's Long-Term Incentive
Plan (the "LTIP") to make clear its conformity with the terms and provisions of
the Company's First Amended and Restated 2004 Stock Option Plan.  The LTIP, as
amended, is attached to this report as Exhibit 10.3, which exhibit is
incorporated herein by reference.
3
Item 9.01
Financial Statements and
Exhibits.
(d)
Exhibit.
Exhibit 10.1
Separation Agreement between Pro-Dex, Inc.
and Jeffrey S. Ritchey,
dated October 7, 2010.
Exhibit 10.2
Employment
Arrangement between Pro-Dex, Inc. and Harold A. Hurwitz.
Exhibit 10.3
Long-Term
Incentive Plan as amended on October 7, 2010.
4
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.
Date:  October 11, 2010
PRO-DEX, Inc (Registrant).
By:
/s/  Mark P. Murphy
Mark P. Murphy
Chief Executive Officer
5
INDEX TO EXHIBITS
Exhibit
Number
Description
Exhibit 10.1
Separation Agreement between Pro-Dex, Inc.
and Jeffrey S. Ritchey,
dated October 7, 2010.
Exhibit 10.2
Employment
Arrangement between Pro-Dex, Inc. and Harold A. Hurwitz.
Exhibit 10.3
Long-Term
Incentive Plan as amended on October 7, 2010.
6