1) Crop the photo and leave some room around the edges of the chip, don't crop too close
2) Rotate the chip so that the longest axis is straight up and down, so that the chip is now an oval, use the ROTATE tab, not LEVEL OFF
3) Use the circle crop to crop the chip at the edges
4) Resize the chip to 450x450 (you have to unclick Perserve Aspect Ratio)
5) Rotate the chip so that it is now level
6) Adjust the colors as needed

That's it.