Exhibit 10.4 AMENDED AND RESTATED DEBT SUBORDINATION AGREEMENT THIS AGREEMENT effective as of the 30th day of June, 2005, by and among KEVIN J. THOMAS, an individual (the "Creditor"), ARGAN, INC., a Delaware corporation ("Argan"), SOUTHERN MARYLAND...Debt Subordination Agreement • July 7th, 2005 • Argan Inc • Medicinal chemicals & botanical products • Connecticut
July 5, 2005 Mr. Kevin J. Thomas c/o Vitarich Laboratories, Inc. 4365 Arnold Avenue Naples, Florida 34104 Re: Agreement and Plan of Merger dated as of August 31, 2004 by and among Kevin J. Thomas ("you"), Vitarich Laboratories, Inc., a Florida...Argan Inc • July 7th, 2005 • Medicinal chemicals & botanical products
Exhibit 10.3 SUBORDINATED TERM NOTE THIS SUBORDINATED TERM NOTE AND INDEBTEDNESS EVIDENCED HEREBY ARE AND SHALL AT ALL TIMES BE AND REMAIN SUBORDINATED IN RIGHT OF PAYMENT TO THE EXTENT AND IN THE MANNER SET FORTH IN THAT CERTAIN AMENDED AND RESTATED...Argan Inc • July 7th, 2005 • Medicinal chemicals & botanical products • Connecticut
THIS SUBORDINATED TERM NOTE AND INDEBTEDNESS EVIDENCED HEREBY ARE AND SHALL AT ALL TIMES BE AND REMAIN SUBORDINATED IN RIGHT OF PAYMENT TO THE EXTENT AND IN THE MANNER SET FORTH IN THAT CERTAIN AMENDED AND RESTATED DEBT SUBORDINATION AGREEMENT, EFFECTIVE AS OF JUNE 30, 2005, BY AND AMONG BANK OF AMERICA, N.A., ARGAN, INC., A DELAWARE CORPORATION AND KEVIN J. THOMAS, AN INDIVIDUAL, TO THE PRIOR PAYMENT IN FULL OF ALL SUPERIOR DEBT (AS DEFINED THEREIN).
FORM OF]Argan Inc • July 7th, 2005 • Medicinal chemicals & botanical products • Connecticut
THIS SUBORDINATED TERM NOTE (EARN-BACK OBLIGATIONS) AND INDEBTEDNESS EVIDENCED HEREBY ARE AND SHALL AT ALL TIMES BE AND REMAIN SUBORDINATED IN RIGHT OF PAYMENT TO THE EXTENT AND IN THE MANNER SET FORTH IN THAT CERTAIN AMENDED AND RESTATED DEBT SUBORDINATION AGREEMENT, EFFECTIVE AS OF JUNE 30, 2005, BY AND AMONG BANK OF AMERICA, N.A., ARGAN, INC., A DELAWARE CORPORATION AND KEVIN J. THOMAS, AN INDIVIDUAL, TO THE PRIOR PAYMENT IN FULL OF ALL SUPERIOR DEBT (AS DEFINED THEREIN).
