<SEC-DOCUMENT>0001193125-20-107670.txt : 20200415
<SEC-HEADER>0001193125-20-107670.hdr.sgml : 20200415
<ACCEPTANCE-DATETIME>20200415080633
ACCESSION NUMBER:		0001193125-20-107670
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200410
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200415
DATE AS OF CHANGE:		20200415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MANNKIND CORP
		CENTRAL INDEX KEY:			0000899460
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133607736
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50865
		FILM NUMBER:		20792663

	BUSINESS ADDRESS:	
		STREET 1:		30930 RUSSELL RANCH ROAD
		STREET 2:		SUITE 300
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91362
		BUSINESS PHONE:		818-661-5000

	MAIL ADDRESS:	
		STREET 1:		30930 RUSSELL RANCH ROAD
		STREET 2:		SUITE 300
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91362
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d895756d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
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 <P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P> <P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND
EXCHANGE COMMISSION </B></P> <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV>
 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P> <P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV>
 <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"><FONT STYLE="font-size: 12pt"><B>CURRENT REPORT </B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT
STYLE="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) </B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>of the Securities Exchange Act of
1934</B></FONT></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"><FONT STYLE="font-size: 12pt"><B>Date of
Report (Date of earliest event reported): April 10, 2020 </B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV>
 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P> <P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MannKind Corporation </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified in its charter) </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<TD STYLE="width: 34%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="width: 32%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
<TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>000-50865</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13-3607736</B></FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>(State or other jurisdiction of</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>incorporation or organization)</B></FONT></P></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>(Commission</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>File Number)</B></FONT></P></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>(IRS Employer</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Identification No.)</B></FONT></P></TD></TR>
<TR>
<TD COLSPAN="3">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
<TD COLSPAN="3" STYLE="vertical-align: top"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>30930 Russell Ranch Road, Suite 300</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Westlake Village, California</B></P></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>91362</B></FONT></TD></TR>
<TR>
<TD COLSPAN="3" STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(Address of principal executive offices)</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(Zip Code)</B></FONT></TD></TR> </TABLE>
<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>Registrant&rsquo;s telephone number, including area
code:&nbsp;(818)&nbsp;661-5000 </B></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>N/A </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>(Former name or former address, if changed since last report.) </B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV>
 <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&nbsp;8-K is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. of Form&nbsp;8-K):</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%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR> </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR&nbsp;240.14a-12) </FONT></TD></TR> </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR&nbsp;240.14d-2(b)) </FONT></TD></TR> </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR&nbsp;240.13e-4(c)) </FONT></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">Securities registered pursuant to Section&nbsp;12(b) of the Act:</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="width: 34%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="width: 32%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
<TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Title of each class</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Trading</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Symbol(s)</B></FONT></P></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Name of each exchange</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>on which registered</B></FONT></P></TD></TR>
<TR>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common Stock</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>MNKD</B></FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The Nasdaq Stock Market LLC</B></FONT></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">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule&nbsp;12b-2&nbsp;of the Securities Exchange Act of 1934 (&sect;&nbsp;240.12b-2&nbsp;of this chapter).</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">Emerging growth company&nbsp;&#9744;</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">If an emerging growth company, indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&#9744;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P> </DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <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%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 10%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;2.03</B></FONT></TD>
<TD STYLE="font-size: 10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. </B></FONT></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">(a)</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">The information contained in Item 8.01 of this report under the heading &ldquo;Paycheck Protection Program Loan&rdquo; is incorporated by reference under this Item 2.03.</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"><B>Item 8.01 Other Events.</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"><I>Paycheck Protection Program Loan</I></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">On April 10, 2020, MannKind Corporation (the &ldquo;Company&rdquo;) received the proceeds from a loan in
the amount of approximately $4.9 million (the &ldquo;PPP Loan&rdquo;) from JPMorgan Chase Bank, N.A., as lender, pursuant to the Paycheck Protection Program (&ldquo;PPP&rdquo;) of the Coronavirus Aid, Relief, and Economic Security Act (the
&ldquo;CARES Act&rdquo;). The PPP Loan matures on April 9, 2022 and bears interest at a rate of 0.98% per annum. Commencing November 9, 2020, the Company is required to pay the lender equal monthly payments of principal and interest as required to
fully amortize by April 9, 2022 the principal amount outstanding on the PPP Loan as of October 9, 2020. The PPP Loan is evidenced by a promissory note dated April 9, 2020 (the &ldquo;Note&rdquo;), which contains customary events of default relating
to, among other things, payment defaults and breaches of representations and warranties. The PPP Loan may be prepaid by the Company at any time prior to maturity with no prepayment penalties.</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">All or a portion of the PPP Loan may be forgiven by the U.S. Small Business Administration
(&ldquo;SBA&rdquo;) upon application by the Company beginning 60 days but not later than 120 days after loan approval and upon documentation of expenditures in accordance with the SBA requirements. Under the CARES Act, loan forgiveness is available
for the sum of documented payroll costs, covered rent payments, covered mortgage interest and covered utilities during the eight week period beginning on the date of loan approval. For purposes of the CARES Act, payroll costs exclude compensation of
an individual employee in excess of $100,000, prorated annually. Not more than 25% of the forgiven amount may be for non-payroll costs. Forgiveness is reduced if full-time headcount declines, or if salaries and wages for employees with salaries of
$100,000 or less annually are reduced by more than 25%. In the event the PPP Loan, or any portion thereof, is forgiven pursuant to the PPP, the amount forgiven is applied to outstanding principal.</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">The Company intends to use all proceeds from the PPP Loan to retain employees, maintain payroll and make
lease, mortgage interest and utility payments.</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">A copy of the Note is filed as Exhibit 99.1 to this
report.</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"><I>Salary Reduction for Certain Employees</I></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">Effective April 27, 2020 (the beginning of the next payroll cycle), the Company will implement a 20% pay
reduction for certain employees whose payroll costs exceed $100,000, including executive officers. The Company expects to maintain this reduction for at least 10 weeks. The Company does not intend to reduce pay for employees whose payroll costs are
below $100,000.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P> </DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <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"><B>Forward-Looking
Statements</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">This report
contains&nbsp;</FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;statements that involve risks and uncertainties, including, without limitation,
statements regarding the use of proceeds from the PPP Loan and the duration of the salary reduction discussed in this report. Words such as &ldquo;believes,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;expects,&rdquo;
&ldquo;intends,&rdquo; &ldquo;will,&rdquo; &ldquo;goal,&rdquo; &ldquo;potential&rdquo; and similar expressions are intended to identify&nbsp;</FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT
STYLE="font-family: Times New Roman, Times, Serif"> statements. These </FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white"> statements
are based upon the Company&rsquo;s current expectations. Actual results and the timing of events could differ materially from those anticipated in such&nbsp;</FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT
STYLE="font-family: Times New Roman, Times, Serif">&nbsp;statements as a result of various risks and uncertainties detailed in the Company&rsquo;s filings with the Securities and Exchange Commission (&ldquo;SEC&rdquo;). For a discussion of these and
other factors, please refer to the Company&rsquo;s annual report on Form&nbsp;10-K&nbsp;for the year ended December 31, 2019 as well as the Company&rsquo;s other filings with the SEC. You are cautioned not to place undue reliance on these
</FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT STYLE="font-family: Times New Roman, Times, Serif"> statements, which speak only as of the date of this report. All </FONT>forward<FONT
STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to
revise or update any&nbsp;</FONT>forward<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>looking<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;statements to reflect events or circumstances after the date of this
report.</FONT></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%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 12%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;9.01</B></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Financial Statements and Exhibits. </B></FONT></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">(d) Exhibits.&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 4%">&nbsp;</TD>
<TD STYLE="width: 93%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>No.</B></FONT></TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="border-bottom: black 1pt solid; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR>
<TD STYLE="white-space: nowrap; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="d895756dex991.htm">Promissory Note, dated April 9, 2020, by and between MannKind Corporation and JPMorgan Chase Bank,
N.A.</A></FONT></TD></TR> </TABLE> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P> </DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <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: center">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="width: 49%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">MANNKIND CORPORATION</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: April 15, 2020</FONT></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ David Thomson</P></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">David Thomson, Ph.D., J.D.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corporate Vice President, General Counsel and Secretary</FONT></TD></TR> </TABLE> </DIV></CENTER> <P STYLE="margin: 0">&nbsp;</P> </BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d895756dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
  <BODY STYLE="font-size: 10pt; font-family: Times New Roman, Times, Serif">
  <CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <P STYLE="margin: 0">&nbsp;</P> <P STYLE="margin: 0; text-align: right"><B>Exhibit
99.1</B></P> <P STYLE="margin: 0">&nbsp;</P> <P STYLE="margin: 0"></P> <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">NOTE</P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 23%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Date</TD>
<TD STYLE="width: 77%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">4/9/2020</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Note Amount</TD>
<TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">$4,872,860</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Borrower</TD>
<TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">MannKind Corporation</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Lender</TD>
<TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">JPMorgan Chase Bank, N.A.</TD></TR> </TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">1.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>PROMISE TO PAY</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower promises to pay to the order of Lender the Note Amount, plus interest on the unpaid principal balance at the Note Rate, and all other amounts required by this
Note.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">2.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>DEFINITIONS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;CARES Act&rdquo; means the Coronavirus Aid, Relief, and Economic Security Act.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;Deferral Period&rdquo; means the six month period beginning on the date of
this Note.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;Loan&rdquo; means the loan evidenced by this Note.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;Maturity Date&rdquo; means twenty-four (24) months from the date of this
Note.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;Note Rate&rdquo; means an interest rate of 0.98% Per Annum and
interest shall accrue on the unpaid principal balance computed on the basis of the actual number of days elapsed in a year of 360 days.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;Per Annum&rdquo; means for a year deemed to be comprised of 360 days.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;SBA&rdquo; means the Small Business Administration, an Agency of the United States of America.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">3.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>CONDITIONS PRECEDENT TO FUNDING OF LOAN</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Before the funding of the Loan, the following conditions must be satisfied:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>Lender has approved the request for the Loan.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Lender has received approval from SBA to fund the Loan.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">4.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>PAYMENT TERMS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower will pay this Note as follows:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>No Payments During Deferral Period. There shall be no payments due by Borrower during the Deferral Period.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Principal and Interest Payments. Commencing one month after the expiration of the Deferral Period, and continuing on the same day of each month thereafter until the Maturity Date, Borrower shall pay to Lender monthly payments of principal and
interest, each in such equal amount required to fully amortize the principal amount outstanding on the Note on the last day of the Deferral Period by the Maturity Date.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P> </DIV></CENTER>

<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
1
</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>Maturity Date. On the Maturity Date, Borrower shall pay to Lender any and all unpaid principal plus accrued and unpaid interest plus interest accrued during the Deferral Period. This Note will mature on the Maturity Date.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">D.</TD>
<TD>If any payment is due on a date for which there is no numerical equivalent in a particular calendar month then it shall be due on the last day of such month. If any payment is due on a day that is not a Business Day, the payment will be made on
the next Business Day. The term &ldquo;Business Day&rdquo; means a day other than a Saturday, Sunday or any other day on which national banking associations are authorized to be closed.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">E.</TD>
<TD>Payments shall be allocated among principal and interest at the discretion of Lender unless otherwise agreed or required by applicable law. Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck
Protection Program under the federal CARES Act, the amount so forgiven shall be applied to principal.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">F.</TD>
<TD>Borrower may prepay this Note at any time without payment of any premium.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">5.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>CERTIFICATIONS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower certifies as follows:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>Current economic uncertainty makes this Loan necessary to support the ongoing operations of Borrower.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Loan funds will be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>During the period beginning on February 15, 2020 and ending on December 31, 2020, Borrower has not and will not receive another loan under this program.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">D.</TD>
<TD>Borrower was in operation on February 15, 2020 and (i) had employees for whom it paid salaries and payroll taxes, or (ii) paid independent contractors as reported on a 1099-Misc.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">6.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>AGREEMENTS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower understands and agrees, and waives and releases Lender, as follows:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>The Loan would be made under the SBA&rsquo;s Paycheck Protection Program. Accordingly, it must be submitted to and approved by the SBA. There is limited funding available under the Paycheck Protection Program and so all applications submitted
will not be approved by the SBA.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Lender is participating in the Payroll Protection Program to help businesses impacted by the economic impact from COVID-19. However, Lender anticipates high volume and there may be processing delays and system failures along with other issues
that interfere with submission of your application to SBA. Lender does not represent or guarantee that it will submit the application before SBA funding is no longer available or at all. You agree that Lender is not responsible or liable to you (i)
if the application is not submitted to the SBA until after SBA stops approving applications, for any reason or (ii) if the application is not processed. You forever release and waive any claims against Lender concerning failure to obtain the Loan.
This release and waiver applies to but is not limited to any claims concerning Lender&rsquo;s (i) pace, manner or systems for processing or prioritizing applications, or (ii) representations by Lender regarding the application process, the Paycheck
Protection Program, or availability of funding. This agreed to release and waiver supersedes any prior communications, understandings, agreements or communications on the issues set forth herein.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P> </DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
2
</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>Forgiveness of the Loan is only available for principal that is used for the limited purposes that qualify for forgiveness under SBA requirements, and that to obtain forgiveness, Borrower must request it and must provide documentation in
accordance with the SBA requirements, and certify that the amounts Borrower is requesting to be forgiven qualify under those requirements. Borrower also understand that Borrower shall remain responsible under the Loan for any amounts not forgiven,
and that interest payable under the Loan will not be forgiven but that the SBA may pay the Loan interest on forgiven amounts.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">D.</TD>
<TD>Forgiveness is not automatic and Borrower must request it. Borrower is not relying on Lender for its understanding of the requirements for forgiveness such as eligible expenditures, necessary records/documentation, or possible reductions due to
changes in number of employees or compensation. Rather Borrower will consult the SBA&rsquo;s program materials.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">E.</TD>
<TD>The application for this Loan is subject to review and that Borrower may not receive the Loan. The Loan also remains subject to availability of funds under the SBA&rsquo;s Payment Protection Program, and to the SBA issuing an SBA loan
number.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">7.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>DEFAULT</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower is in default under this Note if Borrower:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>Fails to make a payment when due under the Note or otherwise fails to comply with any provision of this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Does not disclose, or anyone acting on its behalf does not disclose, any material fact to Lender or SBA.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>Makes, or anyone acting on its behalf makes, a materially false or misleading representation, attestation or certification to Lender or SBA in connection with Borrower&rsquo;s request for this Loan under the CARES Act, or makes a false
certification under paragraph 5 of this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">D.</TD>
<TD>Fails to comply with all of the provisions of this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">E.</TD>
<TD>Becomes the subject of a proceeding under any bankruptcy or insolvency law, has a receiver or liquidator appointed for any part of its business or property, or makes an assignment for the benefit of creditors.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">F.</TD>
<TD>Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender&rsquo;s prior written consent.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">G.</TD>
<TD>Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower&rsquo;s ability to pay this Note.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">8.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>LENDER</B></FONT>&rsquo;<FONT STYLE="text-transform: uppercase"><B>S RIGHTS IF THERE IS A DEFAULT</B></FONT>.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Without notice or demand and without giving up any of its rights, Lender
may:</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>Require immediate payment of all amounts owing under this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Collect all amounts owing from Borrower.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>File suit and obtain judgment.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>
</DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
3
</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">9.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>LENDER&rsquo;S GENERAL POWERS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Without notice or Borrower&rsquo;s consent, Lender may incur expenses to collect amounts due under this Note and enforce the terms of this Note. Among other things, the
expenses may include reasonable attorney&rsquo;s fees and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal balance;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">10.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>GOVERNING LAW AND VENUE; WHEN FEDERAL LAW APPLIES</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">When SBA is the holder, this Note shall be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing
papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or
assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">If the SBA is not the holder, this Note shall be governed by and construed in accordance with the laws of the State of Ohio where the main office of Lender is located.
MATTERS REGARDING INTEREST TO BE CHARGED BY LENDER AND THE EXPORTATION OF INTEREST SHALL BE GOVERNED BY FEDERAL LAW (INCLUDING WITHOUT LIMITATION 12 U.S.C. SECTIONS 85 AND 1831u) AND THE LAW OF THE STATE OF OHIO. Borrower agrees that any legal
action or proceeding with respect to any of its obligations under this Note may be brought by Lender in any state or federal court located in the State of Ohio, as Lender in its sole discretion may elect. Borrower submits to and accepts in respect
of its property, generally and unconditionally, the non-exclusive jurisdiction of those courts. Borrower waives any claim that the State of Ohio is not a convenient forum or the proper venue for any such suit, action or proceeding. The extension of
credit that is the subject of this Note is being made by Lender in Ohio.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">11.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>SUCCESSORS AND ASSIGNS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Under this Note, Borrower includes its successors, and Lender includes its successors and assigns.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">12.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>GENERAL PROVISIONS</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">A.</TD>
<TD>Borrower must sign all documents necessary at any time to comply with the Loan.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">B.</TD>
<TD>Borrower&rsquo;s execution of this Note has been duly authorized by all necessary actions of its governing body. The person signing this Note is duly authorized to do so on behalf of Borrower.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">C.</TD>
<TD>This Note shall not be governed by any existing or future credit agreement or loan agreement with Lender. The liabilities guaranteed pursuant to any existing or future guaranty in favor of Lender shall not include this Note. The liabilities
secured by any existing or future security instrument in favor Lender shall not include this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">D.</TD>
<TD>Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">E.</TD>
<TD>Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">F.</TD>
<TD>If any part of this Note is unenforceable, all other parts remain in effect.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">G.</TD>
<TD>To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P> </DIV></CENTER>
 <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Gray 3pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
4
</P></DIV> <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
<CENTER><DIV ALIGN="LEFT" STYLE="width: 8.5in"> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">H.</TD>
<TD>Borrower&rsquo;s liability under this Note will continue with respect to any amounts SBA may pay Bank based on an SBA guarantee of this Note. Any agreement with Bank under which SBA may guarantee this Note does not create any third party rights
or benefits for Borrower and, if SBA pays Bank under such an agreement, SBA or Bank may then seek recovery from Borrower of amounts paid by SBA.</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"></TD>
<TD STYLE="width: 0.5in">I.</TD>
<TD>Lender reserves the right to modify the Note Amount based on documentation received from Borrower.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in"><FONT STYLE="text-transform: uppercase">13.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>ELECTRONIC SIGNATURES</B></FONT>.</TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Borrower&rsquo;s electronic signature shall have the same force and effect as an original signature and shall be deemed (i) to be &ldquo;written&rdquo; or &ldquo;in
writing&rdquo; or an &ldquo;electronic record&rdquo;, (ii) to have been signed and (iii) to constitute a record established and maintained in the ordinary course of business and an original written record when printed from electronic files. Such
paper copies or &ldquo;printouts,&rdquo; if introduced as evidence in any judicial, arbitral, mediation or administrative proceeding, will be admissible as between the parties to the same extent and under the same conditions as other original
business records created and maintained in documentary form.</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 0.5in"><FONT STYLE="text-transform: uppercase">14.</FONT></TD>
<TD><FONT STYLE="text-transform: uppercase"><B>BORROWER&rsquo;S NAME AND SIGNATURE:</B></FONT></TD></TR></TABLE> <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 27%">&nbsp;</TD>
<TD STYLE="width: 70%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="2"><B>Borrower:</B></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="2">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="2">MannKind Corporation</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>By: <U></U></TD>
<TD STYLE="border-bottom: Black 1pt solid">/s/ Steven Binder </TD>
<TD>&nbsp;</TD></TR> </TABLE> <P STYLE="margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 9%">Printed&nbsp;Name:&nbsp;<U></U></TD>
<TD STYLE="width: 21%; border-bottom: Black 1pt solid">Steven Binder</TD>
<TD STYLE="width: 70%">&nbsp;</TD></TR> </TABLE> <P STYLE="margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%">Title: <U></U></TD>
<TD STYLE="width: 26%; border-bottom: Black 1pt solid">CFO</TD>
<TD STYLE="width: 70%">&nbsp;</TD></TR> </TABLE> <P STYLE="margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 9%">Date&nbsp;Signed:&nbsp;<U></U></TD>
<TD STYLE="width: 21%; border-bottom: Black 1pt solid">4/9/2020 </TD>
<TD STYLE="width: 70%">&nbsp;</TD></TR> </TABLE> <P STYLE="margin: 0">&nbsp;</P> <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">5</P> <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P> </DIV></CENTER> </BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
