<SEC-DOCUMENT>0001144204-16-114494.txt : 20160726
<SEC-HEADER>0001144204-16-114494.hdr.sgml : 20160726
<ACCEPTANCE-DATETIME>20160726162019
ACCESSION NUMBER:		0001144204-16-114494
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20160720
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Change in Shell Company Status
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160726
DATE AS OF CHANGE:		20160726

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Limbach Holdings, Inc.
		CENTRAL INDEX KEY:			0001606163
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36541
		FILM NUMBER:		161784575

	BUSINESS ADDRESS:	
		STREET 1:		31 35TH STREET
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15201
		BUSINESS PHONE:		(412) 359-2100

	MAIL ADDRESS:	
		STREET 1:		31 35TH STREET
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	1347 Capital Corp
		DATE OF NAME CHANGE:	20140422
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v444860_8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>UNITED
STATES</B></FONT><BR>
<FONT STYLE="font-size: 18pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Washington, D.C. 20549</B></FONT></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event reported):
<B>July 20, 2016</B><BR>
<B>____________________</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>LIMBACH HOLDINGS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&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: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;Delaware</B></FONT></TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;001-36541</B></FONT></TD>
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;46-5399422</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>31 &ndash; 35th Street, Pittsburgh, Pennsylvania
15201 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices,
including zip code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant&rsquo;s telephone number, including
area code:<B>&nbsp;(412) 359-2100</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not Applicable</B><BR>
(Former name or former address, if changed since last report)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-indent: 30.9pt">&nbsp; &nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-indent: 30.9pt">&nbsp; &nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-indent: 30.9pt">&nbsp; &nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Introductory Note</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 20, 2016 (the
&ldquo;Closing Date&rdquo;), the Registrant consummated the previously announced business combination (the &ldquo;Business Combination&rdquo;)
pursuant to the Agreement and Plan of Merger, dated March 23, 2016 (as amended, the &ldquo;Merger Agreement&rdquo;), by and among
1347 Capital Corp. (&ldquo;1347 Capital&rdquo;), Limbach Holdings LLC (&ldquo;Limbach Holdings&rdquo;) and F<I>d</I>G HVAC LLC.
In connection with the closing of the Business Combination (the &ldquo;Closing&rdquo;), the registrant changed its name from &ldquo;1347
Capital Corp.&rdquo; to &ldquo;Limbach Holdings, Inc.&rdquo; Unless the context otherwise requires, &ldquo;we,&rdquo; &ldquo;us,&rdquo;
&ldquo;our,&rdquo; &ldquo;Limbach&rdquo; and the &ldquo;Company&rdquo; refer to the combined company and its subsidiaries, including
Limbach Holdings and its subsidiaries. &ldquo;1347 Capital&rdquo; refers to the registrant prior to the Closing and &ldquo;Limbach
Holdings,&rdquo; the &ldquo;Limbach Holdings Business&rdquo; or &ldquo;Limbach Holdings before the Business Combination&rdquo;
refers to the Limbach Holdings business before it became a wholly-owned subsidiary of the Company upon the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Amended and Restated Registration
Rights Agreement</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection
with the Closing, the Company entered into an amended and restated registration rights agreement, dated July 20, 2016, with
the holders listed on the signature pages thereto (the &ldquo;Registration Rights Agreement&rdquo;). The Registration Rights
Agreement is described in 1347 Capital&rsquo;s definitive proxy statement/prospectus (as supplemented,
the &ldquo;Prospectus&rdquo;) filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on June 16,
2016 pursuant to Rule 424(b) of the rules and regulations of the SEC under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), in the section entitled &ldquo;Agreements Related to the Business
Combination&mdash;Amended and Restated Registration Rights Agreement&rdquo; beginning on page 96, which description is
incorporated by reference herein. The description of the Registration Rights Agreement does not purport to be complete and is
qualified in its entirety by reference to the full text of the Registration Rights Agreement, which is included as Exhibit
10.1 to this Current Report on Form 8-K and also incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1.02 Termination of a Material
Definitive Agreement.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Closing, the Investment Management Trust Agreement, dated July 15, 2014, between 1347 Capital and Continental Stock Transfer
&amp; Trust Company was terminated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.01 Completion of Acquisition
or Disposition of Assets.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth in the Introductory Note and Item 1.01 above, which is incorporated by reference herein. The material
terms of the Merger Agreement are described in the Prospectus under the section entitled &ldquo;The Merger Agreement&rdquo; beginning
on page 80, which is incorporated herein by reference. In the Business Combination, a wholly-owned subsidiary of 1347 Capital merged
with and into Limbach Holdings, with Limbach Holdings surviving the merger as a wholly-owned subsidiary of 1347 Capital, which
changed its name to Limbach Holdings, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Business Combination
was approved by 1347 Capital&rsquo;s stockholders at the special meeting in lieu of the 2016 annual meeting of stockholders held
on July 19, 2016 (the &ldquo;Special Meeting&rdquo;). At the Special Meeting, 5,565,752 shares of common stock of 1347 Capital
were voted in favor of the proposal to approve the Business Combination, and 320,601 shares of common stock were voted against
that proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection
with the Closing, 1347 Capital paid to the holders of membership interests and options to acquire membership interests of
Limbach Holdings consideration comprised of (a) $33 million in cash, (b) 2,200,005 shares of Company common stock, (c)
1,000,006 warrants, each exercisable for one share of Company common stock at an exercise price of $11.50 per share, and (d)
666,670 warrants, each exercisable for one share of Company common stock at an exercise price of $12.50 per share. In addition,
pursuant to the terms of the Merger Agreement, the Company issued and sold to 1347 Investors LLC (the &ldquo;Sponsor&rdquo;)
400,000 newly issued shares of Class A preferred stock (the &ldquo;Preferred Stock&rdquo;) for $10,000,000.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company redeemed
a total of 2,800,000 shares of its common stock pursuant to the terms of the Company&rsquo;s previous amended and restated certificate
of incorporation, resulting in a total payment to redeeming stockholders of $28,000,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Upon the Closing, there were:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,327,800 shares of capital stock of the
Company issued and outstanding, consisting of: (i) 5,927,800 shares of common stock, par value $0.0001 per share, and (ii) 400,000 shares of Class A preferred
stock, par value $0.0001 per share; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">warrants exercisable for 7,064,676
                                                                                                               shares of common stock, consisting of: (i) 4,600,000 warrants, each exercisable for one-half of one share common stock at an
                                                                                                               exercise price of $5.75 per half share ($11.50 per whole share); (ii) 198,000 warrants, each exercisable for one-half of one
                                                                                                               share of common stock at an exercise price of $5.75 per half share ($11.50 per whole share); (iii) 600,000 warrants, each
                                                                                                               exercisable for
                                                                                                               one share of common stock at an exercise price of $15.00 per share; (iv) 1,000,006 warrants, each exercisable for one share
                                                                                                               of common stock at an exercise price of $11.50 per share; and (v) 666,670 warrants, each exercisable for one share of common
                                                                                                               stock at an exercise price of $12.50 per share.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the Closing,
the Company had total cash and cash equivalents of approximately $3.3 million, before payment of financial advisory fees and
other fees and expenses associated with the Business Combination of approximately $2.5 million in the aggregate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to the Closing,
the Company was a shell company with no operations, formed as a vehicle to effect a business combination with one or more operating
businesses. The following information is provided about the business and securities of the post-Closing combined company reflecting
the consummation of the Business Combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CAUTIONARY NOTE REGARDING 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; text-align: justify; text-indent: 0.5in">The Company makes forward-looking
statements in this Current Report on Form 8-K and the documents incorporated by reference herein. These forward-looking statements
relate to outlooks or expectations for earnings, revenues, expenses or other future financial or business performance, strategies
or expectations, or the impact of legal or regulatory matters on business, results of operations or financial condition. Specifically,
forward-looking statements may include statements relating to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the benefits of the Business Combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the future financial performance of the
Company following the Business Combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in the markets in which the Company
competes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">expansion plans and opportunities; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">other statements preceded by, followed
by or that include the words &ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; &ldquo;project,&rdquo; &ldquo;forecast,&rdquo; &ldquo;intend,&rdquo;
&ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;seek,&rdquo; &ldquo;target&rdquo; or similar expressions.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These forward-looking
statements are based on information available to the Company as of the date of this report, and current expectations, forecasts
and assumptions, and involve a number of risks and uncertainties. Accordingly, forward-looking statements should not be relied
upon as representing the Company&rsquo;s views as of any subsequent date, and the Company does not undertake any obligation to
update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new
information, future events or otherwise, except as may be required under applicable securities laws.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of a number
of known and unknown risks and uncertainties, the Company&rsquo;s actual results or performance may be materially different from
those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the risk that the Business Combination
disrupts current plans and operations of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the ability to recognize the anticipated
benefits of the Business Combination, which may be affected by, among other things, competition and the ability of the business
to grow and manage growth profitably;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">costs related to the Business Combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the outcome of any legal proceedings that
have been or may be instituted against the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in applicable laws or regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the possibility that the Company may be
adversely affected by other economic, business, and/or competitive factors; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">other risks and uncertainties set forth
in the Prospectus in the section entitled &ldquo;Risk Factors&rdquo; beginning on page&nbsp;26, which are incorporated herein by
reference.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Business</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The business of 1347
Capital prior to the Business Combination is described in the Prospectus in the section entitled &ldquo;Information about 1347
Capital&rdquo; beginning on page 116, which is incorporated herein by reference. The business of Limbach Holdings is described
in the Prospectus in the section&nbsp;entitled &ldquo;Information about Limbach&rdquo; beginning on page 128, which is incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Risk Factors</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The risks associated
with the businesses of 1347 Capital and Limbach Holdings are described in the Prospectus in the section&nbsp;entitled &ldquo;Risk
Factors&rdquo; beginning on page 26, which is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Selected Financial Information</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>1347 Capital</U></I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Selected financial
information and management&rsquo;s discussion and analysis of financial condition and results of operations of 1347 Capital are
set forth in the Prospectus in the sections entitled &ldquo;Summary Historical Financial and other Data of 1347 Capital&rdquo;
and &ldquo;1347 Capital Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; beginning
on pages 21 and 145, respectively, which are incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Limbach Holdings</U></I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Selected financial
information and management&rsquo;s discussion and analysis of financial condition and results of operations of Limbach Holdings
are set forth in the Prospectus in the sections entitled &ldquo;Summary Historical Financial Data of Limbach&rdquo; and &ldquo;Limbach
Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; beginning on pages 22 and 151,
respectively, which are incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Pro Forma Financial Information</U></I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pro forma financial
information for the Company is set forth in the Prospectus in the section entitled &ldquo;Unaudited Pro Forma Condensed Combined
Financial Information&rdquo; beginning on page 183, which is incorporated herein by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Properties</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
principal executive office is located at 31 &ndash; 35th Street, Pittsburgh, Pennsylvania 15201. Limbach Holding&rsquo;s facilities
are described in the Prospectus in the section entitled &ldquo;Information about Limbach&rdquo; beginning on page&nbsp;128, which
is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Security Ownership of Certain Beneficial Owners and Management</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth information known to the Company regarding beneficial ownership of shares of common stock of the Company as of the Closing by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">each person who is the beneficial owner
of more than 5% of the outstanding shares of common stock of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">each of the Company&rsquo;s executive
officers and directors; and</FONT></TD></TR></TABLE>

<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"></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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">all executive officers and directors of
the Company as a group.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beneficial ownership
is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if
he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently
exercisable or exercisable within 60 days.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beneficial ownership
of common stock of the Company is based on 5,927,800 shares of common stock of the Company issued and outstanding as of the Closing
Date.&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name and Address of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number of Shares of <BR>
Common Stock</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent of <BR>
Outstanding <BR>
Common Stock</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">F<I>d</I>G HVAC LLC<SUP>(2)</SUP></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.25pt">499 Park Avenue, 26<SUP>th</SUP> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.25pt">New York, New York 10022</P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,066,562<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42.3%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Investors LLC<SUP>(3)</SUP></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.25pt">150 Pierce Road, 6th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.25pt">Itasca, Illinois 60143</P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,066,313<SUP>(5)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54.9%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David S. Gellman</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,066,562<SUP>(6)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42.3%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Larry G. Swets, Jr.</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,076,313<SUP>(7)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55.1%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charles A. Bacon III</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">383,322<SUP>(8)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.3%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gordon G. Pratt</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John T. Jordan</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Norbert W. Young</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,171<SUP>(9)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S. Matthew Katz</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kristopher Thorne</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">191,762<SUP>(10)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All executive officers and directors as a group (8 individuals)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,747,230</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">86.0%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_________________________</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">* Less than 1%</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: 0.25in">(1)</TD><TD STYLE="text-align: justify">Unless otherwise indicated, the business address of each of the individuals is 31 &ndash; 35th
Street, Pittsburgh, Pennsylvania 15201.</TD></TR></TABLE>

<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: 0.25in">(2)</TD><TD STYLE="text-align: justify">Represents one hundred percent of the securities held by F<I>d</I>G HVAC LLC. The managing member
of F<I>d</I>G HVAC LLC is F<I>d</I>G Capital Partners, LLC. Mr. Gellman is the sole member of the investment committee of the managing
member of F<I>d</I>G Capital Partners, LLC, and therefore, may be deemed to share beneficial ownership of the securities held by
F<I>d</I>G HVAC LLC.</TD></TR></TABLE>

<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: 0.25in">(3)</TD><TD STYLE="text-align: justify">Represents one hundred percent of the securities held by 1347 Investors LLC, 1347 Capital&rsquo;s
sponsor. The managers of 1347 Investors LLC are Larry G. Swets and D. Kyle Cerminara, and acting by unanimous consent they exercise
voting and dispositive control over the securities held by 1347 Investors LLC. Accordingly, they may be deemed to share beneficial
ownership of such securities.</TD></TR></TABLE>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Represents (i) 1,743,810 shares of common stock, (ii) 529,101 warrants, each exercisable for one
share of common stock at an exercise price of $12.50 per share and (iii) 793,651 warrants, each exercisable for one share of common
stock at an exercise price of $11.50 per share.</TD></TR></TABLE>

<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: 0.25in">(5)</TD><TD STYLE="text-align: justify">Represents (i) 2,566,314 shares of common stock, (ii) 699,999 shares of common stock issuable upon
the exercise of certain outstanding warrants and (iii) 800,000 shares of common stock issuable upon conversion of Preferred Stock.</TD></TR></TABLE>

<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: 0.25in">(6)</TD><TD STYLE="text-align: justify">Represents securities held by F<I>d</I>G HVAC LLC, over which Mr. Gellman may be deemed to share
beneficial ownership for the reasons set forth in note 2 above.</TD></TR></TABLE>

<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: 0.25in">(7)</TD><TD STYLE="text-align: justify">Represents securities held by 1347 Investors LLC, 1347 Capital&rsquo;s sponsor, as well as shares
held individually by Mr. Swets.</TD></TR></TABLE>

<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: 0.25in">(8)</TD><TD STYLE="text-align: justify">Represents (i) 217,977 shares of common stock, (ii) 66,138 warrants, each exercisable for one share
of common stock at an exercise price of $12.50 per share and (iii) 99,207 warrants, each exercisable for one share of common stock
at an exercise price of $11.50 per share.</TD></TR></TABLE>

<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: 0.25in">(9)</TD><TD STYLE="text-align: justify">Represents (i) 10,900 shares of common stock, (ii) 3,308 warrants, each exercisable for one share
of common stock at an exercise price of $12.50 per share and (iii) 4,963 warrants, each exercisable for one share of common stock
at an exercise price of $11.50 per share.</TD></TR></TABLE>

<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: 0.25in">(10)</TD><TD STYLE="text-align: justify">Represents 100 shares of common stock held directly by Mr. Thorne, as well as (i) 108,989 shares
of common stock, (ii) 33,069 warrants, each exercisable for one share of common stock at an exercise price of $12.50 per share
and (iii) 49,604 warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share, held by Limbach
Management Holding Company, LLC. Mr. Thorne owns an equity interest in Limbach Management Holding Company, LLC and may therefore
be deemed to share beneficial ownership of the securities held by it.</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"><B><I>Directors and Executive Officers</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information with respect
to the Company&rsquo;s directors and executive officers immediately after the consummation of the Business Combination is set forth
in the Prospectus in the section&nbsp;entitled &ldquo;Management After the Business Combination&rdquo; beginning on page&nbsp;172,
which is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 19, 2016, Charles
A. Bacon, III, David S. Gellman and Larry G. Swets, Jr. were elected by the Company&rsquo;s stockholders to serve as Class A directors,
with terms expiring at the Company&rsquo;s annual meeting of stockholders in 2017, Norbert W. Young was elected by the Company&rsquo;s
stockholders to serve as a Class B director, with a term expiring at the annual meeting of stockholders in 2018, and S. Matthew
Katz and Gordon G. Pratt were elected by the Company&rsquo;s stockholders to serve as Class C directors, with terms expiring at
the annual meeting of stockholders in 2019.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 21, 2016, Messrs.
Swets, Young and Katz were appointed by the Board of Directors of the Company (the &ldquo;Board&rdquo;) to serve on the Board&rsquo;s
Audit Committee with Mr. Swets to serve as its Chairman, Messrs. Gellman, Pratt and Young were appointed by the Board to serve
on the Board&rsquo;s Compensation Committee with Mr. Young to serve as its Chairman, and Messrs. Gellman, Swets and Bacon were
appointed by the Board to serve on the Board&rsquo;s Nominating and Corporate Governance Committee, with Mr. Gellman to serve as
its Chairman.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the Closing, Charles
A. Bacon, III was appointed by the Board to serve as the Company&rsquo;s President and Chief Executive Officer, John T. Jordan
was appointed by the Board to serve as the Company&rsquo;s Chief Financial Officer and Kristopher Thorne was appointed by the Board
to serve as the Company&rsquo;s Chief Operations Officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Closing and pursuant to the terms of the Merger Agreement, Gordon G. Pratt and Hassan R. Baqar resigned from their respective
positions of Chief Executive Officer and Chief Financial Officer, and Hassan R. Baqar, John T. Fitzgerald, Joshua Horowitz, Leo
Christopher Saenger II and Thomas D. Sargent resigned from their positions as board members.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Director and Executive Officer Compensation</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The compensation of
the Company&rsquo;s executive officers is generally described in the Prospectus in the section entitled &ldquo;Management After
the Business Combination&mdash;Director and Executive Officer Compensation&rdquo; on page 177, which is incorporated herein by
reference. The compensation of certain Limbach Holdings executive officers is set forth in the Prospectus in the section entitled
&ldquo;Information About Limbach&mdash;Executive Officer Compensation&rdquo; beginning on page 139, which is incorporated herein
by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Concurrently with the
signing of the Merger Agreement on March 23, 2016, the Company entered into an employment agreement with Charles A. Bacon, III
(the &ldquo;Employment Agreement&rdquo;), to be effective upon consummation of the Business Combination and to expire on the third
anniversary thereof unless extended or terminated pursuant to the terms of the Employment Agreement. The Employment Agreement provides
for an annual base salary of $600,000, subject to annual increases as determined by the Board. Mr. Bacon will be entitled, upon
achieving certain performance goals to be determined by the Board, to an annual bonus in an amount determined by the Board not
to exceed 100% of Mr. Bacon&rsquo;s base salary. Mr. Bacon is also expected to be entitled to receive severance benefits if his
employment is terminated either by the Company without &ldquo;Cause,&rdquo; as defined in the Employment Agreement, or by Mr. Bacon
with &ldquo;Good Reason,&rdquo; as defined in the Employment Agreement, subject to execution of a full release in favor of the
Company and its subsidiaries. Upon termination of Mr. Bacon&rsquo;s employment, Mr. Bacon may be entitled to certain payments and
benefits, depending on the reason for his termination. In the event Mr. Bacon resigns with good reason or the Company terminates
Mr. Bacon&rsquo;s employment for reason other than cause, Mr. Bacon is entitled to receive (i) severance payments equal to continued
payment of his base salary for the longer of one year or the period beginning on the date of termination through the third anniversary
of the effective date, and (ii) a prorated portion of any cash bonus payment earned during that year, provided that Mr. Bacon signs
and delivers to the Company, and does not revoke, a general release of claims in favor of the Company and certain related parties.
In the event Mr. Bacon resigns his employment without good reason, or Mr. Bacon&rsquo;s employment terminates as a result of his
death or disability, Mr. Bacon is entitled to receive the Accrued Obligations (as defined below), provided however, that in the
event of Mr. Bacon&rsquo;s termination by the Company for cause, the Accrued Obligations will not include any unpaid annual cash
bonus for the fiscal year preceding the termination year. The &ldquo;Accrued Obligations&rdquo; include the following: (i) all
previously earned and accrued, but unpaid, base salary, for services rendered to the Company on or prior to the date on which the
employment period ends; (ii) the annual cash bonus payable for any completed fiscal year, provided that such termination is not
due to the Mr. Bacon&rsquo;s resignation without good reason or by good faith resolution of the Board for cause; and (iii) certain
other benefits contemplated by the agreement. The description of the Employment Agreement does not purport to be complete and is
qualified in its entirety by reference to the full text of the&nbsp;Employment Agreement, which is included as Exhibit 10.2 to
this Current Report on Form 8-K and incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 21, 2016, the
Board adopted a compensation policy for non-employee directors. The non-employee director compensation policy is intended to fairly
compensate each of our non-employee directors with cash compensation for the time and effort necessary to serve as a Board member.
Our non-employee directors are entitled to receive annual cash compensation in the amount of $60,000 per calendar year for their
services on the Board. Our Board Chair is entitled to receive an additional $20,000 per calendar year for his or her service
as Chair. The Chair of the Audit Committee is entitled to receive an additional $10,000 per calendar year for his or her service
as Chair of the Audit Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Certain Relationships and Related Transactions</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The description of
certain relationships and related transactions is included in the Prospectus in the section entitled &ldquo;Certain Relationships
and Related Person Transactions&rdquo; beginning on page 178, which is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is made to the disclosure set
forth in Items 1.01, 2.01 and 5.03 of this Current Report on Form 8-K relating to the issuance and sale of the Preferred Stock
to the Sponsor, all of which is incorporated herein by reference.</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><I>Independence of Directors</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Messrs. Gellman, Swets,
Katz and Young are each independent within the meaning of Nasdaq Rule 5605(a)(2).</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Legal Proceedings</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth in the Prospectus in the sections entitled &ldquo;Information About 1347 Capital&mdash;Legal Proceedings&rdquo;
beginning on page 120 and &ldquo;Information About Limbach&mdash;Legal Proceedings&rdquo; beginning on page 138, which are both
incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Market Price of and Dividends on the Registrant&rsquo;s
Common Equity and Related Stockholder Matters</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information about the
market price, number of stockholders and dividends for the Company&rsquo;s securities is described in the Prospectus in the section&nbsp;entitled
&ldquo;Price Range of Securities and Dividends&rdquo; beginning on page 221, which is incorporated herein by reference. As of the
Closing, the Company had 30 holders of record of its common stock, 1 holder of record of its warrants and 1 holder of
record of its Class A preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The
Company&rsquo;s common stock and warrants are expected to trade on the OTCQB market under the symbols &ldquo;LMB&rdquo; and
&ldquo;LMBW,&rdquo; respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The closing price of
the Company&rsquo;s common stock as reported on OTCQB on July 25, 2016 was $8.39.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Recent Sales of Unregistered Securities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth in Items 1.01 and 3.02 of the Company&rsquo;s Current Report on Form 8-K filed on March 29, 2016, and
Items 1.01, 3.02 and 5.03 of this Current Report on Form 8-K, all of which is incorporated herein by reference. The shares of Preferred
Stock that were issued in connection with the Merger Agreement were not registered under the Securities Act in reliance upon the
registration requirements as provided in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Description of the Company&rsquo;s Securities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure in the Prospectus in the section entitled &ldquo;Description of 1347 Capital Securities&rdquo; beginning on page
194, which is incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has authorized
101,000,000 shares of capital stock, consisting of 100,000,000 shares of common stock, $0.0001 par value per share, and 1,000,000
shares of preferred stock, par value $0.0001 per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the Closing,
there were&nbsp;6,327,800 shares of capital stock of the Company issued and outstanding, consisting of 5,927,800 shares of common
stock and 400,000 shares of Class A preferred stock. As of the Closing Date, the Company had 30 holders of record of its common
stock and 1 holder of record of its Class A preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Indemnification of Directors and Officers</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information about the
indemnification of the Company&rsquo;s directors and officers is described in the Part II of Amendment No. 4 to 1347 Capital&rsquo;s
Registration Statement on Form S-4 (File No. 333-210772) filed with the SEC on June 10, 2016, which is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Financial Statements and Supplementary Data</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is made to the disclosure set
forth under Item 9.01 of this Current Report on Form 8-K, which is incorporated herein by reference. &nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Financial Statements and Exhibits</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth under Item 9.01 of this Current Report on Form 8-K, which is incorporated herein by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.02 Results of Operations and
Financial Condition.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth under Items 2.01 and 9.01 of this Current Report on Form 8-K concerning the financial information of Limbach
Holdings LLC, which is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.03 Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 20, 2016, certain
direct and indirect subsidiaries of the Company entered into financing arrangements with Fifth Third Bank, N.A. and Alcentra Capital
Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Senior Credit Facility</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 20,
2016, Company subsidiaries Limbach Holdings, Limbach Facility Services LLC (&ldquo;Borrower&rdquo;), Limbach Company
LLC (&ldquo;Limbach Company&rdquo;), Limbach Company LP (&ldquo;Limbach LP&rdquo;), Harper Limbach LLC (&ldquo;Harper&rdquo;)
and Harper Limbach Construction LLC (&ldquo;Construction&rdquo; and together with Limbach Holdings, Limbach Company, Limbach
LP and Harper, the &ldquo;Guarantors&rdquo; and together with Borrower, the &ldquo;Loan Parties&rdquo;) entered into a
Credit Agreement with Fifth Third Bank, as administrative agent and as a lender, the other institutions party thereto as
lenders and the other loan parties party thereto, providing for a $25.0 million revolving credit facility of which $3,492,000
was drawn upon at the Closing, and a $24.0 million term loan facility (the &ldquo;Credit Agreement&rdquo;). The Credit
Agreement also provides that up to $5.0 million may be drawn against the $25.0 million revolving credit facility for
the issuances of letters of credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The term loans will
mature and the revolving credit facility will terminate on July 20, 2021. The credit facilities are guaranteed by the Guarantors
and are collateralized by substantially all of the Loan Parties&rsquo; respective assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower may select
from two interest rate options under the Credit Agreement: (i) Adjusted LIBOR (as defined therein) plus the applicable margin (&ldquo;Eurodollar&rdquo;),
or (ii) base rate plus the applicable margin (&ldquo;Base Rate&rdquo;). Adjusted LIBOR is equal to the quotient of (a) LIBOR (as
defined therein), divided by (b) one minus the Reserve Percentage (as defined therein). The base rate is the greatest of: (a) the
&ldquo;prime rate&rdquo; (as announced by Fifth Third Bank on such day), (b) the federal funds rate (as announced by the Federal
Reserve Bank of New York on such day) plus 0.50% and (c) the Adjusted LIBOR rate applicable to a Eurodollar loan with a 1 month
interest period advanced on such day plus 1.00%. From July 20, 2016, through the last day of the fiscal quarter ending on or after
September 30, 2016, during which financial statements for such fiscal quarter are delivered, the applicable margin with respect
to a Base Rate loan is 2.75% per annum and with respect to a Eurodollar loan is 3.75% per annum.&nbsp; After delivery of the financial
statements for the fiscal quarter ending September 30, 2016, the applicable margin is based on the applicable Leverage Ratio (as
defined in therein) then in effect, such that (i)&nbsp;if the Leverage Ratio is greater than or equal to 2.50 to 1.0, the applicable
margin with respect to a Eurodollar loan is 4.00% per annum and with respect to a Base Rate loan is 3.00% per annum, (ii)&nbsp;if
the Leverage Ratio is less than 2.50 to 1.0, but greater than or equal to 2.0 to 1.0, the applicable margin with respect to a Eurodollar
loan is 3.75% per annum and with respect to a Base Rate loan is 2.75% per annum, (iii) if the Leverage Ratio is less than 2.0 to
1.0, but greater than or equal to 1.50 to 1.0, the applicable margin with respect to a Eurodollar loan is 3.50% per annum and with
respect to a Base Rate loan is 2.50% per annum, and (iv) if the Leverage Ratio is less than 1.50 to 1.0, the applicable margin
with respect to a Eurodollar loan is 3.25% per annum and with respect to a Base Rate loan is 2.25% per annum.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to other
fees, Borrower is required to pay a quarterly commitment fee at the rate per annum equal to 0.50% on the average daily unused portion
of the revolving credit facility, and a letter of credit fee equal to that of the applicable margin for the Eurodollar loans described
above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Credit Agreement
includes restrictions on, among other things and subject to certain exceptions, the Loan Parties&rsquo; ability to incur additional
indebtedness, pay dividends or make other distributions, redeem or purchase capital stock, make investments and loans and enter
into certain transactions, including selling assets, engaging in mergers or acquisitions and entering into transactions with affiliates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Credit Agreement
requires that the Loan Parties comply with certain financial performance covenants including with respect to total leverage, senior
leverage, fixed charges and tangible net worth.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandatory prepayments
are required upon the occurrence of certain events, including, among other things and subject to certain exceptions, equity issuances,
a change of control of the Company or any Loan Party, certain debt issuances, assets sales and excess cash flow. Commencing with
the fiscal year ending December 31, 2017, Borrower will be required to remit to the Lenders an amount equal to 50% of the excess
cash flow (as defined in the Credit Agreement) of the Loan Parties, which percentage will be reduced based on the Senior Leverage
Ratio (as defined therein). The Borrower may voluntarily prepay the loans at any time subject to the limitations set forth in the
Credit Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The equity interests
of the Loan Parties (other than Limbach Holdings) have been pledged as security for the obligations under the Credit Agreement.
The Credit Agreement includes customary events of default, including, among other items, payment defaults, cross-defaults to other
indebtedness, a change of control default (including with respect to the Company) and events of default with respect to certain
material agreements. Additionally, with respect to the Company, an event of default occurs if the Company fails to apply for listing
on the NASDAQ Capital Market within a specified period, or if the Company&rsquo;s securities cease to registered with the SEC pursuant
to Section 12(b) of the Securities and Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). In case of an event of
default, the administrative agent would be entitled to, among other things, accelerate payment of amounts due under the Credit
Agreement, foreclose on the equity of the Loan Parties, and exercise all rights of a secured creditor on behalf of the lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Mezzanine Credit Facility</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Also on July 20, 2016,
the Loan Parties entered into a Loan Agreement with Alcentra Capital Corporation, as agent and as a lender, and the other lenders
from time to time party thereto, providing for a $13.0 million term loan, evidenced by an unsecured note subordinate to the Credit
Agreement (the &ldquo;Subordinated Loan Agreement&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The loan will mature
on July 20, 2022, and will bear interest at a rate of 16.00%, of which 13.00% is cash interest and 3.00% is payment-in-kind interest
(&ldquo;PIK&rdquo;). Upon a Conversion Event (defined as a prepayment of more than 75% of the original principal of the loans,
an acceleration, a Change of Control (as defined therein) or maturity), the Lenders may elect to receive, in satisfaction of all
or a portion of the outstanding principal of the Loans which constitutes the PIK portion of the loan, the number of shares of Limbach
Stock equal to the PIK portion of the loan divided by $10.00 per share (the &ldquo;Conversion Shares&rdquo;). The Lenders may further
elect whether to be paid entirely in Limbach stock or to receive a cash payment equal to the PIK portion of the loan being converted
plus shares of Limbach Stock determined by a formula equal to the Conversion Shares minus the Liquidation Shares (defined as the
portion of the PIK portion of the loan being converted divided by the five day weighted trading average of a share of Limbach Stock
for the five Business Days preceding the trigger date). Upon a Conversion Event, the lenders will have registration rights with
respect to such shares, including one demand registration right and usual and customary &ldquo;piggy-back&rdquo; registration rights,
pursuant to a registration rights agreement (the &ldquo;Alcentra Registration Rights Agreement&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandatory prepayments
are required upon the occurrence of certain events, including, among other things and subject to certain exceptions, equity issuances,
a change of control of the Company or any Loan Party, certain debt issuances and asset sales. Borrower may voluntarily prepay the
loan at any time subject to a prepayment fee. If prepayment occurs prior to July 20, 2017, the prepayment fee will be 3.00% of
the principal amount of the loan being prepaid plus all interest that would be due on the loan if the same had remained outstanding
until July 20, 2017. After July 20, 2017 and prior to July 20, 2018, the prepayment fee is 3.00% of the principal amount of the
loan being paid. After July 20, 2018, there is no prepayment fee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing summary
is qualified in its entirety by reference to the Credit Agreement, the Subordinated Loan Agreement and the Alcentra Registration
Rights Agreement, each dated July 20, 2016, and attached hereto as Exhibits 10.3, 10.6, and 10.8, respectively and each incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3.02 Unregistered Sale of Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth in Items 1.01 and 3.02 of the Company&rsquo;s Current Report on Form 8-K filed on March 29, 2016, and
Items 1.01, 2.01 and 5.03 of this Current Report on Form 8-K, all of which is incorporated herein by reference. The shares of Preferred
Stock that were issued in connection with the Merger Agreement were not registered under the Securities Act in reliance upon the
registration requirements as provided in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3.03 Material Modification to Rights of Security Holders.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 20, 2016, the
Company filed a Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware.
The material terms of the Second Amended and Restated Certificate of Incorporation and the general effect upon the rights of holders
of the Company&rsquo;s capital stock are included in the Prospectus under the section entitled &ldquo;Proposals No. 2A &ndash;
2J &mdash; The Certificate Proposals&rdquo; beginning on page 98, which is incorporated herein by reference. A copy of the Second
Amended and Restated Certificate of Incorporation is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.01 Changes in Control of Registrant.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure provided under Items 1.01 and 2.01 of this Current Report on Form 8-K, which is incorporated herein by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the disclosure set forth in Item 2.01 under the subheading &ldquo;Directors and Executive Officers,&rdquo; which is incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 20, 2016, the
Company filed a Certificate of Designation with the Secretary of State of the State of Delaware to authorize the designation and
issuance of 400,000 shares of Preferred Stock at $25 per share (the &ldquo;Certificate of Designation&rdquo;). The Certificate
of Designation became effective that same day. The rights, preferences and privileges of the Preferred Stock are as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Ranking</I>. The
Preferred Stock ranks senior to all classes and series of the Company&rsquo;s outstanding capital stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Future Issuances</I>.
The Company may not issue any other shares of capital stock that rank senior or pari passu to the Preferred Stock while the Preferred
Stock is outstanding, unless 30% of the proceeds from such issuance are used to redeem Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dividends</I>. The
holders of Preferred Stock will, in priority to any other class or series of capital stock, be entitled to receive, as and when
declared by the Board, fixed, cumulative, preferential dividends at a rate of: (i) 8% per annum in years one through three from
issuance, (ii) 10% per annum in years four through five from issuance, and (iii) 12% per annum thereafter, payable in equal quarterly
installments. Dividends on outstanding Preferred Stock will accrue from day to day from the date of issuance of the Preferred Stock.
No dividends may be made in excess of the accrued and unpaid preferred yield in respect of such Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Restrictions on
Payments</I>. For so long as the Preferred Stock are outstanding, the Company will not repurchase, redeem or retire any shares
of its capital stock other than the Preferred Stock. The Company will have no restriction on payments made in regards to its outstanding
debt securities or repurchases of stock from former employees, officers, directors, consultants or other persons who performed
services for the Company or any subsidiary in connection with the cessation of such employment or service at the lower of the original
purchase price or the then-current fair market value thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Liquidation</I>.
In the event of the liquidation, dissolution or winding-up of the Company, the holders of Preferred Stock will be entitled to receive
$25.00 per share of Preferred Stock, plus accrued but unpaid dividends thereon, whether declared or not, before any amount will
be paid or any assets distributed to holders of shares of the Company ranking junior as to the return of capital to the Preferred
Stock. After payment to the holders of Preferred Stock of the amounts so payable to them, such holders will not be entitled to
share in any further payment in respect of the distribution of the assets of the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Mandatory Redemption</I>.
The Company will redeem all outstanding Preferred Stock on the six year anniversary from the date of issuance for the price of
$25.00 per share of Preferred Stock (as may be adjusted for any stock splits, reverse stock splits or similar transactions), plus
accrued but unpaid dividends thereon, whether or not declared, up to and including the date specified for redemption.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Voting</I>.
The holders of Preferred Stock will not be entitled to receive notice of, or to attend, any meeting of shareholders of the
Company and will not be entitled to vote at any such meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Conversion</I>.
Each share of Preferred Stock may be converted (at the holder&rsquo;s election) into 2.00 shares of common stock (as may be
adjusted for any stock splits, reverse stock splits or similar transactions), representing a conversion price of $12.50 per
share of common stock; provided, that such conversion is in compliance with the Company&rsquo;s listing requirements with
NASDAQ, if its shares are listed at such time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Anti-Dilution</I>.
The number of shares of Common Stock into which the Preferred Stock will be convertible will be subject to corporate
structural anti-dilution (and not price protection anti-dilution) adjustments, including adjustments in the event of certain
stock dividends, subdivisions and consolidations, rights offerings, special distributions, capital reorganizations and
reclassifications of shares of Common Stock by the Company; provided, however, there will not be any adjustment in connection
with (i) securities issuable upon conversion of any of the Preferred Stock, or as a dividend or distribution on the Preferred
Stock; (ii) securities issued upon the conversion of any debenture, warrant, option, or other convertible security
outstanding as of the Closing Date; (iii) shares of the Common Stock issued to EarlyBirdCapital, Inc. pursuant to that
certain Letter Agreement, dated as of March 22, 2016, between 1347 Capital and EarlyBirdCapital, Inc.; (iv) shares of common
stock (or options to purchase such shares of the common stock) issued or issuable to employees, directors or consultants of
the Company pursuant to any equity incentive plan approved by the Board; (v) shares of common stock issued or issuable to
banks, equipment lessors pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the
Board; and (vi) shares of common stock issued or issuable for consideration other than cash pursuant to a business
combination, strategic partnership or joint venture transaction approved by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Registration Rights</I>.
The Preferred Stock and the shares of common stock that may be issued upon conversion of the Preferred Stock are covered by the
Registration Rights Agreement and will be included in any registration statement filed by the Company pursuant thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing summary
of the terms of the Preferred Stock is not intended to be complete and is qualified in its entirety by reference to the text of
the Certificate of Designation, which is filed as Exhibit 3.2 to this Current Report on Form 8-K and incorporated herein by reference.</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 5.06 Change in Shell Company Status.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of the
Business Combination, which fulfilled the definition of an initial business combination as required by 1347 Capital&rsquo;s amended
and restated certificate of incorporation, the Company ceased to be a shell company as of the Closing Date. The material terms
of the Business Combination are described in the Prospectus in the sections entitled &ldquo;The Business Combination&rdquo; beginning
on page 62 and &ldquo;The Merger Agreement&rdquo; beginning on page 80, both of which we incorporate herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01</B>&nbsp;<B>Financial Statements and Exhibits.</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
of 1347 Capital and Limbach Holdings included in the Prospectus beginning on pages F-1 and F-27, respectively, and the Unaudited
Pro Forma Condensed Combined Financial Statements of the Company included in the Prospectus beginning on page 183 are incorporated
herein by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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 NOWRAP STYLE="width: 11%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement and Plan of Merger, dated March 23, 2016, by and among Limbach Holdings LLC, 1347 Capital Corp., FdG HVAC LLC, as amended by and F<I>d</I>G HVAC LLC. (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on March&nbsp;&nbsp;29, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 1 to Agreement and Plan of Merger, dated July 11, 2016, by and among 1347 Capital Corp., Limbach Holdings LLC (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 13, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 2 to Agreement and Plan of Merger, dated July 11, 2016, by and among 1347 Capital Corp., Limbach Holdings LLC and F<I>d</I>G HVAC LLC (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 18, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amended and Restated Certificate of Incorporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation of Class A Preferred Stock.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws (incorporated by reference to Exhibit 3.3 to the Company&rsquo;s Registration Statement on Form S-1 (file No. 333-195695), filed with the SEC on June 30, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.2 to Amendment No. 2 to the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695), filed with the SEC on June 27, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant Agreement, dated as of July 15, 2014, by and between Continental Stock Transfer &amp; Trust Company and 1347 Capital Corp. (incorporated by reference to Exhibit 4.1 to 1347 Capital Corp&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 21, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Warrant Certificate (incorporated by reference to Exhibit 4.4 to Amendment No. 2 to the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695), filed with the SEC on June 27, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Registration Rights Agreement, dated as of July 20, 2016, by and among the Company and the parties named on the signature pages thereto.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement, dated as of March 23, 2016, by and between 1347 Capital Corp. and Charles A. Bacon, III (incorporated by reference to Exhibit 10.2 to 1347 Capital Corp.&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on March 29, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the guarantors from time to time party thereto, the lenders from time to time party thereto, Fifth Third Bank, The PrivateBank and Trust Company and Wheaton Bank &amp; Trust Company, a subsidiary of Wintrust Financial Corp.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the other debtors party thereto and Fifth Third Bank.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Copyright Collateral Agreement, dated as of July 20, 2016, by and between the Company and Fifth Third Bank.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the guarantors from time to time party thereto, the lenders from time to time party thereto and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subordination and Intercreditor Agreement, dated as of July 20, 2016, by and between Fifth Third Bank and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration Rights Agreement, dated as of July 20, 2016, by and between the Company and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note issued by Limbach Facility Services LLC to Alcentra Capital Corporation, dated July 20, 2016.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Lockup Agreement, dated as of July 20, 2016, by and between the Company and Charles A. Bacon, III.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Lockup Agreement, dated as of July 20, 2016, by and between the Company and F<I>d</I>G HVAC LLC.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Employee Director Compensation Policy.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">List of Subsidiaries</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
exhibits to this Exhibit have been omitted pursuant to Regulation S-K Item 601(b)(2). The Company agrees to furnish supplementally
copies of such omitted exhibits to the SEC upon request.</FONT></TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LIMBACH HOLDINGS, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ John T. Jordan, Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan, Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Dated: July 26, 2016</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&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 NOWRAP STYLE="width: 11%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement and Plan of Merger, dated March 23, 2016, by and among Limbach Holdings LLC, 1347 Capital Corp., FdG HVAC LLC, as amended by and F<I>d</I>G HVAC LLC. (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on March&nbsp;&nbsp;29, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 1 to Agreement and Plan of Merger, dated July 11, 2016, by and among 1347 Capital Corp., Limbach Holdings LLC (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 13, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 2 to Agreement and Plan of Merger, dated July 11, 2016, by and among 1347 Capital Corp., Limbach Holdings LLC and F<I>d</I>G HVAC LLC (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 18, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amended and Restated Certificate of Incorporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation of Class A Preferred Stock.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws (incorporated by reference to Exhibit 3.3 to the Company&rsquo;s Registration Statement on Form S-1 (file No. 333-195695), filed with the SEC on June 30, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.2 to Amendment No. 2 to the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695), filed with the SEC on June 27, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant Agreement, dated as of July 15, 2014, by and between Continental Stock Transfer &amp; Trust Company and 1347 Capital Corp. (incorporated by reference to Exhibit 4.1 to 1347 Capital Corp&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on July 21, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Warrant Certificate (incorporated by reference to Exhibit 4.4 to Amendment No. 2 to the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695), filed with the SEC on June 27, 2014).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Registration Rights Agreement, dated as of July 20, 2016, by and among the Company and the parties named on the signature pages thereto.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement, dated as of March 23, 2016, by and between 1347 Capital Corp. and Charles A. Bacon, III (incorporated by reference to Exhibit 10.2 to 1347 Capital Corp.&rsquo;s Current Report on Form 8-K (File No. 1-36541), filed with the SEC on March 29, 2016).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the guarantors from time to time party thereto, the lenders from time to time party thereto, Fifth Third Bank, The PrivateBank and Trust Company and Wheaton Bank &amp; Trust Company, a subsidiary of Wintrust Financial Corp.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the other debtors party thereto and Fifth Third Bank.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Copyright Collateral Agreement, dated as of July 20, 2016, by and between the Company and Fifth Third Bank.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan Agreement, dated as of July 20, 2016, by and among Limbach Facility Services LLC, the Company, the guarantors from time to time party thereto, the lenders from time to time party thereto and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subordination and Intercreditor Agreement, dated as of July 20, 2016, by and between Fifth Third Bank and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration Rights Agreement, dated as of July 20, 2016, by and between the Company and Alcentra Capital Corporation.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note issued by Limbach Facility Services LLC to Alcentra Capital Corporation, dated July 20, 2016.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Lockup Agreement, dated as of July 20, 2016, by and between the Company and Charles A. Bacon, III.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Lockup Agreement, dated as of July 20, 2016, by and between the Company and F<I>d</I>G HVAC LLC.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Employee Director Compensation Policy.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">List of Subsidiaries</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
exhibits to these Exhibit have been omitted pursuant to Regulation S-K Item 601(b)(2). The Company agrees to furnish supplementally
copies of such omitted exhibits to the SEC upon request.</FONT></TD>
</TR></TABLE>
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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>v444860_ex3-1.htm
<DESCRIPTION>SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">Exhibit
3.1</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SECOND AMENDED
AND RESTATED</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF INCORPORATION</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">1347 Capital
corp.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1347 CAPITAL CORP.,
a corporation existing under the laws of the State of Delaware (the &ldquo;<U>Corporation</U>&rdquo;), hereby certifies as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">1.</TD><TD STYLE="text-align: justify">The present name of the Corporation is &ldquo;1347 Capital Corp.&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">2.</TD><TD STYLE="text-align: justify">The Corporation&rsquo;s Certificate of Incorporation was filed with the Secretary of State of the
State of Delaware on April 15, 2014 (the &ldquo;<U>Original Certificate&rdquo;</U>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">3.</TD><TD STYLE="text-align: justify">This Second Amended and Restated Certificate of Incorporation (this &ldquo;<U>Certificate</U>&rdquo;)
amends, restates and integrates the provisions of the Amended and Restated Certificate of Incorporation that was filed with the
Secretary of State of the State of Delaware on July 15, 2014 (the &ldquo;<U>Amended and Restated Certificate</U>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">4.</TD><TD STYLE="text-align: justify">This Certificate was duly approved and adopted by the board of directors of the Corporation (the
&ldquo;<U>Board</U>&rdquo;) and stockholders of the Corporation in accordance with the applicable provisions of Sections 228, 242
and 245 of the General Corporation Law of the State of Delaware (&ldquo;<U>DGCL</U>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">5.</TD><TD STYLE="text-align: justify">The text of the Amended and Restated Certificate is hereby amended and restated in its entirety
to read in full as follows:</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">First:</FONT>
The name of the corporation is Limbach Holdings, Inc. (the &ldquo;<U>Corporation</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Second:</FONT>
The registered office of the Corporation is to be located at Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware
19801, City of Wilmington, County of New Castle. The name of the Corporation&rsquo;s registered agent at that address is The Corporation
Trust Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Third:</FONT>
The purpose of the Corporation shall be to engage in any lawful act or activity for which corporations may be organized under the
DGCL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Fourth:</FONT>
The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 101,000,000,
of which 100,000,000 shares shall be common stock, par value $.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;) and 1,000,000
shares shall be preferred stock, par value $.0001 per share (&ldquo;<U>Preferred Stock</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preferred
Stock</U>. The Board or any authorized committee thereof is expressly granted authority, to the fullest extent permitted by law,
to issue shares of the Preferred Stock, in one or more series, and to fix for each such series such voting powers, full or limited,
and such designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations
or restrictions thereof as shall be stated and expressed in the resolution or resolutions adopted by the Board or such committee
providing for the issue of such series (a &ldquo;<U>Preferred Stock Designation</U>&rdquo;). Except as otherwise provided in any
certificate of designations of any series of Preferred Stock, the number of authorized shares of Preferred Stock may be increased
or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority
of the voting power of all of the then outstanding shares of the capital stock of the Corporation entitled to vote generally in
the election of directors, voting together as a single class, without a separate vote of the holders of the Preferred Stock, or
any series thereof, unless a vote of any such holders is required pursuant to any Preferred Stock Designation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Common
Stock</U>. The powers, preferences and rights, and the qualifications, limitations and restrictions, of the Common Stock are as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Voting</U>.
Except as otherwise expressly required by law or provided in this Certificate, and subject to any voting rights provided to holders
of Preferred Stock at any time outstanding, the holders of the Common Stock shall exclusively possess all voting power and each
share of Common Stock shall have one vote. Except as otherwise required by law or this Certificate (including any Preferred Stock
Designation), at any annual or special meeting of the stockholders of the Corporation, the holders of the Common Stock shall have
the exclusive right to vote for the election of directors and on all other matters properly submitted to a vote of the stockholders.
Notwithstanding the foregoing, except as otherwise required by law or this Certificate (including a Preferred Stock Designation),
the holders of the Common Stock shall not be entitled to vote on any amendment to this Certificate (including any amendment to
any Preferred Stock Designation) that relates solely to the terms of one or more outstanding series of the Preferred Stock if the
holders of such affected series are entitled, either separately or together with the holders of one or more other such series,
to vote thereon pursuant to this Certificate (including any Preferred Stock Designation). Except as otherwise expressly required
by law or provided in this Certificate, and subject to any voting rights provided to holders of Preferred Stock at any time outstanding,
there shall be no cumulative voting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividends</U>.
Subject to any other provisions of this Certificate and the rights, if any, of the holders of any outstanding series of the Preferred
Stock, the holders of the Common Stock shall be entitled to receive such dividends and other distributions (payable in cash, property
or capital stock of the Corporation) when, as and if declared thereon by the Board from time to time out of any assets or funds
of the Corporation legally available therefor, and shall share equally on a per share basis in such dividends and distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liquidation,
Dissolution or Winding-Up</U>. Subject to the rights, if any, of the holders of any outstanding series of the Preferred Stock,
in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Corporation, after payment or provision
for payment of the debts and other liabilities of the Corporation, the holders of the Common Stock shall be entitled to receive
all remaining assets and funds of the Corporation available for distribution to its stockholders, ratably in proportion to the
number of shares of the Common Stock held by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
and Options</U>. The Corporation has the authority to create and issue rights, warrants and options entitling the holders thereof
to purchase shares of any class or series of the Corporation&rsquo;s capital stock or other securities of the Corporation, and
such rights, warrants and options shall be evidenced by instrument(s) approved by the Board. The Board is empowered to set the
exercise price, duration, times for exercise and other terms and conditions of such rights, warrants or options; provided, however,
that the consideration to be received for any shares of capital stock subject thereto may not be less than the par value thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Fifth:</FONT>
The following provisions are inserted for the management of the business and for the conduct of the affairs of the Corporation,
and for further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number</U>.
The number of directors of the Corporation (exclusive of directors who may be elected by the holders of any one or more series
of Preferred Stock which may at any time be outstanding, voting separately as a class or classes) shall be fixed from time to time
solely by resolution of the Board, acting by not less than a majority of the directors then in office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Classes,
Election, Term and Vacancies</U>. Subject to Article Fifth, paragraph D hereof, the Board shall be divided into three classes:
Class A, Class B and Class C. The number of directors in each class shall be as nearly equal as possible. At the first election
of directors by the incorporator, the incorporator shall elect two Class C directors for a term expiring at the Corporation&rsquo;s
third Annual Meeting of Stockholders. The Class C directors shall then appoint additional Class A, Class B and Class C directors,
as necessary. The directors in Class A shall be elected for a term expiring at the first Annual Meeting of Stockholders, the directors
in Class B shall be elected for a term expiring at the second Annual Meeting of Stockholders and the directors in Class C shall
be elected for a term expiring at the third Annual Meeting of Stockholders. Commencing at the first Annual Meeting of Stockholders,
and at each annual meeting thereafter, directors elected to succeed those directors whose terms expire shall be elected for a term
of office to expire at the third succeeding annual meeting of stockholders after their election. Except as the DGCL may otherwise
require, in the interim between annual meetings of stockholders or special meetings of stockholders called for the election of
directors and/or the removal of one or more directors and the filling of any vacancy in that connection, newly created directorships
and any vacancies in the Board, including unfilled vacancies resulting from the removal of directors for cause, may be filled by
the vote of a majority of the remaining directors then in office, although less than a quorum (as defined in the Corporation&rsquo;s
bylaws), or by the sole remaining director. All directors shall hold office until the expiration of their respective terms of office
and until their successors shall have been elected and qualified. A director elected to fill a vacancy resulting from the death,
resignation or removal of a director shall serve for the remainder of the full term of the director whose death, resignation or
removal shall have created such vacancy and until his successor shall have been elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Removal</U>.
Subject to Article Fifth, paragraph D hereof, any or all of the directors (including persons elected by directors to fill vacancies
in the Board) may be removed from office at any time, but only for cause and only by the affirmative vote of holders of a majority
of the voting power of all then outstanding shares of capital stock of the Corporation entitled to vote generally in the election
of directors, voting together as a single class.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preferred
Stock &ndash; Directors</U>. Notwithstanding any other provision of this Article Fifth, and except as otherwise required by law,
whenever the holders of one or more series of the Preferred Stock shall have the right, voting separately by class or series, to
elect one or more directors, the term of office, the filling of vacancies, the removal from office and other features of such directorships
shall be governed by the terms of such series of the Preferred Stock as set forth in this Certificate (including any Preferred
Stock Designation) and such directors shall not be included in any of the classes created pursuant to this Article Fifth unless
expressly provided by such terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Ballot Required</U>. Election of directors need not be by ballot unless the bylaws of the Corporation so provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bylaws</U>.
The Board shall have the power, without the assent or vote of the stockholders, to make, alter, amend, change, add to or repeal
the bylaws of the Corporation as provided in the bylaws of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Approval
of Contracts or Acts</U>. The directors in their discretion may submit any contract or act for approval or ratification at any
annual meeting of the stockholders or at any meeting of the stockholders called for the purpose of considering any such contract
or act, and any contract or act that shall be approved or be ratified by the vote of the holders of a majority of the Common Stock
voted at such meeting (provided that a lawful quorum of stockholders be there represented in person or by proxy) shall be as valid
and binding upon the Corporation and upon all the stockholders as though it had been approved or ratified by every stockholder
of the Corporation, whether or not the contract or act would otherwise be open to legal attack because of directors&rsquo; interests,
or for any other reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">H.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional
Powers</U>. In addition to the powers and authorities hereinbefore stated or by statute expressly conferred upon them, the directors
are hereby empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation;
subject, nevertheless, to the provisions of the statutes of Delaware, of this Certificate, and to any bylaws from time to time
made by the stockholders; provided, however, that no bylaw so made shall invalidate any prior act of the directors which would
have been valid if such bylaw had not been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Special
Meetings of the Stockholders</U>. Except as otherwise required by law and subject to the rights of the holders of any series of
Preferred Stock, special meetings of the stockholders of the Corporation may be called only by or at the direction of the Chairman
of the Board, the Chief Executive Officer of the Corporation or the Board pursuant to a resolution adopted by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">J.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
203 of the DGCL</U>. The Corporation expressly elects not to be governed by Section 203 of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">K.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Action
by Written Consent</U>. Except as otherwise expressly provided by the terms of any series of Preferred Stock permitting the holders
of such series of Preferred Stock to act by written consent, any action required or permitted to be taken by the stockholders of
the Corporation must be effected by a duly called annual or special meeting of such holders and may not be effected by written
consent of the stockholders.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Sixth:</FONT>
<U>Indemnification</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach
of fiduciary duty as a director, except for liability (i) for any breach of the director&rsquo;s duty of loyalty to the Corporation
or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.
If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then
the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL, as so
amended. Any repeal or modification of this paragraph A by the stockholders of the Corporation shall not adversely affect any right
or protection of a director of the Corporation with respect to events occurring prior to the time of such repeal or modification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation, to the full extent permitted by Section 145 of the DGCL, as amended from time to time, shall indemnify all officers
and directors whom it may indemnify pursuant thereto (each an &ldquo;<U>indemnitee</U>&rdquo;). Expenses (including attorneys&rsquo;
fees) incurred by such indemnitee in defending any civil, criminal, administrative, or investigative action, suit or proceeding
for which such indemnitee may be entitled to indemnification hereunder shall be paid by the Corporation in advance of the final
disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such indemnitee to repay such
amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the Corporation as authorized hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
rights to indemnification and advancement of expenses conferred on any indemnitee by this Article Sixth shall not be exclusive
of any other rights that any indemnitee may have or hereafter acquire under law, this Certificate, the Corporation&rsquo;s bylaws,
an agreement, vote of stockholders or disinterested directors, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
repeal or amendment of this Article Sixth by the stockholders of the Corporation or by changes in law, or the adoption of any other
provision of this Certificate inconsistent with this Article Sixth, shall, unless otherwise required by law, be prospective only
(except to the extent such amendment or change in law permits the Corporation to provide broader indemnification rights on a retroactive
basis than permitted prior thereto), and shall not in any way diminish or adversely affect any right or protection existing at
the time of such repeal or amendment or adoption of such inconsistent provision in respect of any proceeding (regardless of when
such proceeding is first threatened, commenced or completed) arising out of, or related to, any act or omission occurring prior
to such repeal or amendment or adoption of such inconsistent provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Article Sixth shall not limit the right of the Corporation, to the extent and in the manner authorized or permitted by law, to
indemnify and to advance expenses to persons other than indemnitees.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Seventh:</FONT>
<U>Creditors</U>. Whenever a compromise or arrangement is proposed between the Corporation and its creditors or any class of them
and/or between the Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State
of Delaware may, on the application in a summary way of the Corporation or of any creditor or stockholder thereof or on the application
of any receiver or receivers appointed for the Corporation under Section 291 of Title 8 of the Delaware Code or on the application
of trustees in dissolution or of any receiver or receivers appointed for the Corporation under Section 279 of Title 8 of the Delaware
Code order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation,
as the case may be, to be summoned in such manner as said court directs. If a majority in number representing three-fourths in
value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case
may be, agree to any compromise or arrangement and to any reorganization of the Corporation as a consequence of such compromise
or arrangement, the said compromise or arrangement and the said reorganization shall, if sanctioned by the court to which said
application has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders,
of the Corporation, as the case may be, and also on the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Eighth:</FONT>
<U>Exclusive Jurisdiction of Delaware Courts</U>. Unless the Corporation consents in writing to the selection of an alternative
forum, the Court of Chancery of the State of Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding
brought on behalf of the Corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer
or other employee of the Corporation to the Corporation or the Corporation&rsquo;s stockholders, (iii) any action asserting a claim
arising pursuant to any provision of the DGCL or the Certificate or bylaws, or (iv) any action asserting a claim against the Corporation
governed by the internal affairs doctrine. Any person or entity purchasing or otherwise acquiring any interest in shares of capital
stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Article Eighth.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Ninth:</FONT>
<U>Amendments to this Certificate</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate in the manner now
or hereafter prescribed by law, and all rights and powers conferred herein on stockholders, directors and officers are subject
to this reserved power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything contained in this Certificate or in the Corporation&rsquo;s bylaws to the contrary, and notwithstanding the fact that
a lesser percentage may be specified by the DGCL, the provisions set forth in Article Fourth, paragraph A, Article Fifth and this
Article Ninth may not be repealed or amended in any respect, and no other provisions may be adopted, amended, or repealed which
would have the effect of modifying or permitting the circumvention of the provisions set forth in Article Fourth, paragraph A,
Article Fifth and this Article Ninth, unless such action is approved by the affirmative vote of the holders of not less than 66.667%
of the total voting power of all outstanding shares of capital stock of the Corporation entitled to vote generally in the election
of directors, voting together as a single class.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Corporation has caused this Certificate to be duly executed by the undersigned authorized officer this 20<SUP>th</SUP> day
of July, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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>&nbsp;</TD>
    <TD COLSPAN="2"><B>1347 CAPITAL CORP.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-bottom: 1pt">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">/s/ Hassan R. Baqar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 26.1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Hassan R. Baqar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 26.1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Chief Financial Officer &amp; Director</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; text-align: center">[<I>Signature Page to Second Amended and
Restated Certificate of Incorporation of 1347 Capital Corp.</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"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>3
<FILENAME>v444860_ex3-2.htm
<DESCRIPTION>CERTIFICATE OF DESIGNATION OF CLASS A PREFERRED STOCK
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.2</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF DESIGNATION</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Class A
PREFERRED STOCK</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Limbach
Holdings, Inc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">(f/k/a 1347
Capital Corp.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Section
151 of the General Corporation Law of the State of Delaware, Limbach Holdings Inc. (f/k/a 1347 Capital Corp.), a corporation organized
and existing under the General Corporation Law of the State of Delaware (the &ldquo;<U>Corporation</U>&rdquo;), in accordance with
the provisions of Section 103 thereof, does hereby submit the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Second
Amended and Restated Certificate of Incorporation of the Corporation (the &ldquo;<U>Certificate of Incorporation</U>&rdquo;) authorizes
the issuance of up to 1,000,000 shares of preferred stock, par value $0.0001 per share, of the Corporation (&ldquo;<U>Preferred
Stock</U>&rdquo;) in one or more series, and expressly authorizes the Board of Directors of the Corporation (the &ldquo;<U>Board</U>&rdquo;)
or any authorized committee thereof, subject to limitations prescribed by law, to provide, out of the unissued shares of Preferred
Stock, for series of Preferred Stock, and to fix for each such series such voting powers, full or limited, and such designations,
preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions
thereof; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, it is the
desire of the Board to establish and fix the number of shares to be included in a new series of Preferred Stock and the designation,
rights, preferences and limitations of the shares of such new series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, BE
IT RESOLVED, that the Board does hereby provide for the issue of a series of Preferred Stock and does hereby in this Certificate
of Designation (the &ldquo;<U>Certificate of Designation</U>&rdquo;) establish and fix and herein state and express the designation,
rights, preferences, powers, restrictions and limitations of such series of Preferred Stock as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation</U></B>.
There shall be a series of Preferred Stock that shall be designated as &ldquo;Class A Preferred Stock&rdquo; (the &ldquo;<U>Class
A Preferred Stock</U>&rdquo;) and the number of Shares constituting such series shall be 400,000. The rights, preferences, powers,
restrictions and limitations of the Class A Preferred Stock shall be as set forth herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined
Terms</U></B>. For purposes hereof, the following terms shall have the following meanings:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Rate</U>&rdquo; means: (a) with respect to the period beginning on the Date of Issuance and ending on the day immediately preceding
the fourth anniversary of the Date of Issuance, eight percent (8.0%) per annum; (b) with respect to the period beginning on the
fourth anniversary of the Date of Issuance and ending on the day immediately preceding the sixth anniversary of the Date of Issuance,
ten percent (10.0%) per annum; and (c) from and after the sixth anniversary of the Date of Issuance, twelve percent (12%) per annum.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Board</U>&rdquo;
has the meaning set forth in the Recitals.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Breach</U>&rdquo;
has the meaning set forth in <U>Section 9.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Certificate
of Designation</U>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Certificate
of Incorporation</U>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Conversion
Election Date</U>&rdquo; has the meaning set forth in <U>Section 7.2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Preferred
Stock</U>&rdquo; has the meaning set forth in <U>Section 1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Redemption</U>&rdquo;
has the meaning set forth in <U>Section 7.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Redemption
Date</U>&rdquo; has the meaning set forth in <U>Section 7.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Redemption
Notice</U>&rdquo; has the meaning set forth in <U>Section 7.2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Class A Redemption
Price</U>&rdquo; has the meaning set forth in <U>Section 7.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Common Stock</U>&rdquo;
means the common stock, par value $0.0001 per share, of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Conversion
Price</U>&rdquo; has the meaning set forth in <U>Section 8.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Conversion
Shares</U>&rdquo; means the shares of Common Stock or other capital stock of the Corporation then issuable upon conversion of the
Class A Preferred Stock in accordance with <U>Section 8</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Convertible
Securities</U>&rdquo; means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding
Options.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Corporation</U>&rdquo;
has the meaning set forth in the Preamble.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Date of Issuance</U>&rdquo;
means, for any Share of Class A Preferred Stock, July [20], 2016.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Dividend
Payment Date</U>&rdquo; has the meaning set forth in <U>Section 4.2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Excluded
Issuances</U>&rdquo; means any issuance or sale by the Corporation after the Date of Issuance of: (a) securities issued upon the
conversion of the Class A Preferred Stock or as a dividend or distribution in respect of the Class A Preferred Stock; (b) securities
issued upon the conversion of any debenture, warrant, option, or other convertible security outstanding as of the Date of Issuance;
(c) shares of the Common Stock issued to EarlyBirdCapital, Inc. pursuant to that certain Letter Agreement, dated as of March 22,
2016, between the Corporation and EarlyBirdCapital, Inc.; (d) shares of Common Stock or Options to purchase Common Stock issued
to directors, officers, employees, or consultants of the Corporation pursuant to any equity incentive plan duly authorized by the
Board; (e) shares of the Common Stock issued or issuable to any lender, debt financing source, bank, or equipment lessor pursuant
to any debt financing, equipment leasing or real property leasing transaction duly authorized by the Board; and (f) shares of the
Common Stock issued or issuable for consideration other than cash pursuant to a business combination, strategic partnership or
joint venture transaction duly authorized by the Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Junior Securities</U>&rdquo;
means, collectively, the Common Stock, any other class of capital stock of the Corporation outstanding on the Date of Issuance,
and any other class of capital stock of the Corporation issued after the Date of Issuance that is not specifically designated as
senior to or in parity with the Class A Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Liquidation</U>&rdquo;
has the meaning set forth in <U>Section 5.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Liquidation
Value</U>&rdquo; means, with respect to any Share on any given date, $25.00 (as adjusted for any stock splits, stock dividends,
recapitalizations or similar transactions with respect to the Class A Preferred Stock).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Options</U>&rdquo;
means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Person</U>&rdquo;
means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated
organization, trust, association or other entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Preferred
Stock</U>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Share</U>&rdquo;
means a share of Class A Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Subsidiary</U>&rdquo;
means, with respect to any Person, any other Person of which a majority of the outstanding shares or other equity interests having
the power to vote for directors or comparable managers are owned, directly or indirectly, by the first Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Supermajority
Interest</U>&rdquo; has the meaning set forth in <U>Section 5.4</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rank</U></B>.
With respect to payment of dividends and distribution of assets upon liquidation, dissolution or winding up of the Corporation,
whether voluntary or involuntary, all Shares of the Class A Preferred Stock shall rank senior to all Junior Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividends</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Accrual
of Dividends</I></B>. From and after the Date of Issuance, cumulative dividends on outstanding Shares shall accrue, whether or
not declared by the Board and whether or not there are funds legally available for the payment of dividends, on a daily basis in
arrears at the Applicable Rate on the sum of (a) the Liquidation Value thereof, <I>plus</I> (b) all unpaid accumulated dividends
thereon. There shall be no other dividends accruing or payable in respect of such Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payment
of Dividends</I></B>. All accrued dividends on any Share shall be paid in cash when, as and if declared by the Board out of funds
legally available therefor, on the last day of March, June, September and December of each calendar year (each such date, a &ldquo;<U>Dividend
Payment Date</U>&rdquo;) or upon a liquidation or redemption of the Class A Preferred Stock in accordance with <U>Section 5</U>
or <U>Section 7</U>; <U>provided</U>, that to the extent not paid on a Dividend Payment Date, all accrued dividends on any share
shall accumulate and compound, on a quarterly basis, on the applicable Dividend Payment Date whether or not declared by the Board
and shall remain accumulated, compounding dividends until paid pursuant hereto or converted pursuant to <U>Section 8</U>. All accrued
and accumulated dividends on the Shares shall be prior and in preference to any dividend on any Junior Securities and shall be
fully declared and paid prior to the declaration or payment of any dividend or other distribution in respect of, or the repurchase,
redemption or retirement of, any Junior Securities, other than (a) payments made in respect of any debt securities of the Corporation
or (b) repurchases Common Stock held by employees, officers or consultants of the Corporation upon termination of their employment,
services or engagement with the Corporation pursuant to agreements providing for such repurchase at the lesser of the original
purchase price and the fair market value thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Partial
Dividend Payments</I></B>. Except as otherwise provided herein, if at any time the Corporation pays less than the total amount
of dividends then accrued and accumulated with respect to the Class A Preferred Stock, such payment shall be distributed pro rata
among the holders thereof based upon the aggregate accrued and accumulated but unpaid dividends on the Shares held by each such
holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liquidation</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Generally</I></B>.
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation (each, a &ldquo;<U>Liquidation</U>&rdquo;),
the holders of Shares of Class A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation
available for distribution to its stockholders, before any payment shall be made to the holders of Junior Securities by reason
of their ownership thereof, an amount in cash equal to the aggregate Liquidation Value of all Shares held by such holder, <I>plus</I>
all unpaid accrued and accumulated dividends on all such Shares (whether or not declared). Following such payment, no holder of
Shares of Class A Preferred Stock will be entitled to any further payments from the Corporation in respect of such Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Insufficient
Assets</I></B>. If upon any Liquidation the remaining assets of the Corporation available for distribution to its stockholders
shall be insufficient to pay the holders of the Shares of Class A Preferred Stock the full preferential amount to which they are
entitled under <U>Section 5.1</U>, (a) the holders of the Shares shall share ratably in any distribution of the remaining assets
and funds of the Corporation in proportion to the respective full preferential amounts which would otherwise be payable in respect
of the Class A Preferred Stock in the aggregate upon such Liquidation if all amounts payable on or with respect to such Shares
were paid in full, and (b) the Corporation shall not make or agree to make any payments to the holders of Junior Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Notice
Requirement</I></B>. In the event of any Liquidation, the Corporation shall, within five (5) days of the date the Board approves
such action, or no later than ten (10) days of any stockholders&rsquo; meeting called to approve such action, or within ten (10)
days of the commencement of any involuntary proceeding, whichever is earlier, give each holder of Shares of Class A Preferred Stock
written notice of the proposed action. Such written notice shall describe the material terms and conditions of such proposed action,
including a description of the stock, cash and property to be received by the holders of Shares upon consummation of the proposed
action and the date of delivery thereof. If any material change in the facts set forth in the initial notice shall occur, the Corporation
shall promptly give written notice to each holder of Shares of such material change.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Notice
Waiting Period</I></B>. The Corporation shall not consummate any voluntary Liquidation of the Corporation before the expiration
of thirty (30) days after the mailing of the initial notice or ten (10) days after the mailing of any subsequent written notice,
whichever is later; <U>provided</U>, that any such period may be shortened upon the written consent of holders of not less than
two-thirds of the then total outstanding Shares (a &ldquo;<U>Supermajority Interest</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Meetings;
Voting</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Generally</I></B>.
Except as provided in <U>Section 6.2</U>, the holders of outstanding Shares of Class A Preferred Stock will not be entitled to
receive notice of, or to attend, any meeting of shareholders of the Corporation and will not be entitled to vote at any such meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Special
Voting Rights</I></B>. Without the prior written consent of a Supermajority Interest, voting separately as a single series with
one vote per Share, in person or by proxy, either in writing without a meeting or at an annual or a special meeting of such holders,
and any other applicable stockholder approval requirements required by law, the Corporation shall not take, and shall cause its
Subsidiaries not to take or consummate, any of the actions or transactions described in this <U>Section 6.2</U> (any such action
or transaction without such prior written consent being null and void <I>ab initio</I> and of no force or effect) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>create,
or authorize the creation of, any additional series of capital stock of the Corporation (or any security convertible into or exercisable
for any series of capital stock of the Corporation) that ranks superior to or in parity with the Class A Preferred Stock in rights,
preferences or privileges (including with respect to dividends, liquidation, redemption or voting);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>issue
or sell any shares of capital stock of the Corporation or any Subsidiary (or any security convertible into or exercisable for any
security) that ranks superior to or in parity with the Class A Preferred Stock in rights, preferences or privileges (including
with respect to dividends, liquidation, redemption or voting), unless (i) at least thirty percent (30%) of the proceeds from such
issuance are used to redeem Shares of the Class A Preferred Stock, or (ii) such issuance or sale is an Excluded Issuance;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>increase
or decrease the number of authorized shares of any series of Preferred Stock or authorize the issuance of or issue any shares of
Preferred Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>amend,
alter, modify or repeal (i) the Certificate of Incorporation (including any amendment by the adoption or amendment of any certificate
of designation or similar document), (ii) this Certificate of Designation, (iii) the by-laws of the Corporation, or (iv) the organizational
documents of any Subsidiary, in each case, in any manner that adversely effects the rights of the holders of the Class A Preferred
Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>redeem,
purchase or otherwise acquire or pay or declare any dividend or other distribution on (or pay into or set aside for a sinking fund
for any such purpose) any Junior Securities of the Corporation; <U>provided</U>, that this restriction shall not apply to, (i)
payments made in respect of any debt securities of the Corporation, and (ii) repurchases Common Stock held by employees, officers,
or consultants of the Corporation upon termination of their employment, services or engagement with the Corporation pursuant to
agreements providing for such repurchase at the lesser of the original purchase price and the fair market value thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>enter
into, or become subject to, any agreement or instrument or other obligation which by its terms restricts the Corporation&rsquo;s
ability to perform its obligations under this Certificate of Designation, including the ability of the Corporation to pay dividends
or make any redemption or other liquidation payment required hereunder (other than such agreements or instruments or other obligations
existing as of the Date of Issuance or any refinancing or replacement of such arrangements on terms that are not materially more
restrictive); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>agree
or commit to do any of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Redemption</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Redemption</I></B>.
Subject to the provisions of <U>Section 9.2(c)</U>, on the sixth anniversary of the Date of Issuance (the &ldquo;<U>Class A Redemption
Date</U>&rdquo;), the Corporation shall redeem all (but not less than all) of the then outstanding Shares of Class A Preferred
Stock (a &ldquo;<U>Class A Redemption</U>&rdquo;) for a price per Share equal to the Liquidation Value for such Share, plus all
unpaid accrued and accumulated dividends on such Share (whether or not declared) up to and including the Class A Redemption Date
(the &ldquo;<U>Class A Redemption Price</U>&rdquo;). Each holder of Shares of Class A Preferred Stock shall have the right to elect
prior to the Class A Conversion Election Date to give effect to the conversion rights contained in <U>Section 8</U> instead of
giving effect to the provisions contained in this <U>Section 7</U> with respect to the Shares of Class A Preferred Stock held by
such holder. In exchange for the surrender to the Corporation by the respective holders of Shares of Class A Preferred Stock of
their certificate or certificates representing such Shares in accordance with <U>Section 7.4</U> below, the aggregate Class A Redemption
Price for all Shares held by each holder of Shares shall be payable in cash in immediately available funds to the respective holders
of the Class A Preferred Stock on the applicable Class A Redemption Date and the Corporation shall contribute all of its assets
to the payment of the Class A Redemption Price, and to no other corporate purpose, except to the extent prohibited by applicable
Delaware law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Redemption
Notice</I></B>. Such Class A Redemption shall be effected by the delivery to the holders of Class A Preferred Stock of a written
notice of such redemption (the &ldquo;<U>Class A Redemption Notice</U>&rdquo;) not more than sixty (60) nor less than thirty (30)
days prior to the Class A Redemption Date stating (a) the number of Shares of Class A Preferred Stock held by the holder that the
Corporation shall redeem; (b) the Class A Redemption Date and the Class A Redemption Price; (c) that the holder may elect to convert
its shares pursuant to <U>Section 8</U> and the date upon which such conversion right terminates, which date shall be no earlier
than five (5) days prior to the Class A Redemption Date (the applicable date, the &ldquo;<U>Class A Conversion Election Date</U>&rdquo;);
and (d) the manner and place designated for surrender by the holder to the Corporation of his, her or its certificate or certificates
representing the Shares of Class A Preferred Stock to be redeemed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Remedies
For Nonpayment</I></B>. If on the Class A Redemption Date, all of the Shares that are required to be redeemed pursuant to this
<U>Section 7</U> are not redeemed in full by the Corporation by paying the entire Class A Redemption Price, then until such Shares
are fully redeemed and the aggregate Class A Redemption Price paid in full, (a) all of the unredeemed Shares shall remain outstanding
and continue to have the rights, preferences and privileges expressed herein, including the accrual and accumulation of dividends
thereon as provided in <U>Section 4</U>, (b) interest on the portion of the aggregate Class A Redemption Price applicable to the
unredeemed Shares shall accrue daily in arrears at a rate equal to 14% per annum, compounded quarterly, and (c) the holders of
the unredeemed Shares shall have the remedies set forth in <U>Section 9.2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Surrender
of Certificates</I></B>. On or before the Class A Redemption Date, each holder of Shares of Class A Preferred Stock not otherwise
electing prior to the Class A Conversion Election Date to convert its Shares pursuant to <U>Section 8</U> shall surrender the certificate
or certificates representing such Shares to the Corporation, in the manner and place designated in the Class A Redemption Notice,
duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto), or,
in the event the certificate or certificates are lost, stolen or missing, shall deliver an affidavit of loss, in the manner and
place designated in the Class A Redemption Notice. Each surrendered certificate shall be canceled and retired and the Corporation
shall thereafter make payment of the applicable Class A Redemption Price by certified check or wire transfer to the holder of record
of such certificate; <U>provided</U>, that if less than all the Shares represented by a surrendered certificate are redeemed, then
a new stock certificate representing the unredeemed Shares shall be issued in the name of the applicable holder of record of canceled
stock certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rights
Subsequent to Redemption</I></B>. If on the Class A Redemption Date, the Class A Redemption Price is paid (or tendered for payment)
for any of the Shares redeemed on such Class A Redemption Date, then on such date all rights of the holder in the Shares so redeemed
and paid or tendered, including any rights to dividends on such Shares, shall cease, and such Shares shall no longer be deemed
issued and outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conversion</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Right
to Convert</I></B>. Subject to the provisions of this <U>Section 8</U> and the listing requirements for any stock exchange for
which the Corporation&rsquo;s capital stock is listed, at any time and from time to time on or after the Date of Issuance, any
holder of Class A Preferred Stock shall have the right by written election to the Corporation to convert all or any portion of
the outstanding Shares of Class A Preferred Stock (including any fraction of a Share) held by such holder along with the aggregate
accrued or accumulated and unpaid dividends thereon into an aggregate number of shares of Common Stock (including any fraction
of a share) as is determined by (a) multiplying the number of Shares (including any fraction of a Share) to be converted by the
Liquidation Value thereof, (b) adding to the result all accrued and accumulated and unpaid dividends on such Shares to be converted,
and then (c) dividing the result by the Conversion Price in effect immediately prior to such conversion. The initial conversion
price per Share shall be $12.50, subject to adjustment as applicable in accordance with <U>Section 8.7</U> (such price, as so adjusted,
the &ldquo;<U>Conversion Price</U>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Procedures
for Conversion</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>In
order to effectuate a conversion of Shares of Class A Preferred Stock pursuant to <U>Section 8.1</U>, a holder shall (i) submit
a written election to the Corporation that such holder elects to convert Shares, the number of Shares elected to be converted and
(ii) surrender, along with such written election, to the Corporation the certificate or certificates representing the Shares being
converted, duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto)
or, in the event the certificate or certificates are lost, stolen or missing, accompanied by an affidavit of loss executed by the
holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Upon
the receipt by the Corporation of a written election and the surrender of such certificate(s) and accompanying materials, the Corporation
shall as promptly as practicable (but in any event within ten (10) days thereafter) deliver to the relevant holder (i) a certificate
or book entry shares in such holder&rsquo;s name (or the name of such holder&rsquo;s designee as stated in the written election)
for the number of shares of Common Stock (including any fractional share) to which such holder shall be entitled upon conversion
of the applicable Shares as calculated pursuant to <U>Section 8.1</U> and, if applicable (ii) a certificate in such holder&rsquo;s
(or the name of such holder&rsquo;s designee as stated in the written election) for the number of Shares of Class A Preferred Stock
(including any fractional share) represented by the certificate or certificates delivered to the Corporation for conversion but
otherwise not elected to be converted pursuant to the written election. All shares of capital stock issued hereunder by the Corporation
shall be duly and validly issued, fully paid and nonassessable, free and clear of all taxes, liens, charges and encumbrances with
respect to the issuance thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Effect
of Conversion</I></B>. The conversion of such Shares hereunder shall be deemed effective as of the date of surrender of such Class
A Preferred Stock certificate or certificates or delivery of such affidavit of loss. All Shares of Class A Preferred Stock converted
as provided in this <U>Section 8</U> shall no longer be deemed outstanding as of the effective time of the applicable conversion
and all rights with respect to such Shares shall immediately cease and terminate as of such time (including, without limitation,
any right of redemption pursuant to <U>Section 7</U>), other than the right of the holder to receive shares of Common Stock and
payment in lieu of any fraction of a Share in exchange therefor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reservation
of Stock</I></B>. The Corporation shall at all times when any Shares of Class A Preferred Stock is outstanding reserve and keep
available out of its authorized but unissued shares of capital stock, solely for the purpose of issuance upon the conversion of
the Class A Preferred Stock, such number of shares of Common Stock issuable upon the conversion of all outstanding Class A Preferred
Stock pursuant to this <U>Section 8</U>, taking into account any adjustment to such number of shares so issuable in accordance
with <U>Section 8.7</U> hereof. The Corporation shall take all such actions as may be necessary to assure that all such shares
of Common Stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any
domestic securities exchange upon which shares of Common Stock may be listed (except for official notice of issuance which shall
be immediately delivered by the Corporation upon each such issuance). The Corporation shall not close its books against the transfer
of any of its capital stock in any manner which would prevent the timely conversion of the Shares of Class A Preferred Stock.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Charge or Payment</I></B>. The issuance of certificates for shares of Common Stock upon conversion of Shares of Class A Preferred
Stock pursuant to this <U>Section 8</U> shall be made without payment of additional consideration by, or other charge, cost or
tax to, the holder in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Conversion Rights</I></B>. In the event of a delivery of a Class A Redemption Notice relating to a redemption of any Shares
of Class A Preferred Stock pursuant to <U>Section 7</U>, the conversion rights described herein of the Shares designated for redemption
shall terminate at the close of business on the applicable Class A Conversion Election Date, unless the Class A Redemption Price
is not fully paid on such redemption date, in which case the conversion rights for such Shares shall continue until such price
is paid in full.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustment
to Conversion Price and Number of Conversion Shares</I></B>. In order to prevent dilution of the conversion rights granted under
this <U>Section 8</U>, the Conversion Price and the number of Conversion Shares issuable on conversion of the Shares of Class A
Preferred Stock shall be subject to adjustment from time to time as provided in this <U>Section 8.7</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustment
to Conversion Price and Conversion Shares Upon Dividend, Subdivision or Combination of Common Stock</I></B>. If the Corporation
shall, at any time or from time to time after the Date of Issuance, (i) pay a dividend or make any other distribution upon the
Common Stock or any other capital stock of the Corporation payable in shares of Common Stock, Options or Convertible Securities,
or (ii) subdivide (by any stock split, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number
of shares, the Conversion Price in effect immediately prior to any such dividend, distribution or subdivision shall be proportionately
reduced and the number of Conversion Shares issuable upon conversion of the Class A Preferred Stock shall be proportionately increased.
If the Corporation at any time combines (by combination, reverse stock split or otherwise) its outstanding shares of Common Stock
into a smaller number of shares, the Conversion Price in effect immediately prior to such combination shall be proportionately
increased and the number of Conversion Shares issuable upon conversion of the Class A Preferred Stock shall be proportionately
decreased. Any adjustment under this <U>Section 8.7(a)</U> shall become effective at the close of business on the date the dividend,
subdivision or combination becomes effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustment
to Conversion Price and Conversion Shares Upon Reorganization, Reclassification, Consolidation or Merger</I></B>. In the event
of any (i) capital reorganization of the Corporation, (ii) reclassification of the Common Stock of the Corporation (other than
a change in par value or from par value to no par value or from no par value to par value or as a result of a stock dividend or
subdivision, split-up or combination of shares), (iii) consolidation or merger of the Corporation with or into another Person,
(iv) sale of all or substantially all of the Corporation&rsquo;s assets to another Person or (v) other similar transaction (other
than any such transaction covered by <U>Section 8.7(a)</U>), in each case which entitles the holders of Common Stock to receive
(either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common Stock, each
Share of Class A Preferred Stock shall, immediately after such reorganization, reclassification, consolidation, merger, sale or
similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of Conversion
Shares then convertible for such Share, be exercisable for the kind and number of shares of stock or other securities or assets
of the Corporation or of the successor Person resulting from such transaction to which such Share would have been entitled upon
such reorganization, reclassification, consolidation, merger, sale or similar transaction if the Share had been converted in full
immediately prior to the time of such reorganization, reclassification, consolidation, merger, sale or similar transaction and
acquired the applicable number of Conversion Shares then issuable hereunder as a result of such conversion (without taking into
account any limitations or restrictions on the convertibility of such Share, if any); and, in such case, appropriate adjustment
shall be made with respect to such holder&rsquo;s rights under this Certificate of Designation to insure that the provisions of
this <U>Section 8</U> hereof shall thereafter be applicable, as nearly as possible, to the Class A Preferred Stock in relation
to any shares of stock, securities or assets thereafter acquirable upon conversion of Class A Preferred Stock. The provisions of
this <U>Section 8.7(b)</U> shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, sales
or similar transactions. The Corporation shall not effectuate any such reorganization, reclassification, consolidation, merger,
sale or similar transaction unless, prior to the consummation thereof, the successor Person (if other than the Corporation) resulting
from such reorganization, reclassification, consolidation, merger, sale or similar transaction, shall assume in writing (in form
and substance satisfactory to the holder of such Share) the obligation to deliver to the holders of Class A Preferred Stock such
shares of stock, securities or assets which, in accordance with the foregoing provisions, such holders shall be entitled to receive
upon conversion of the Class A Preferred Stock. Notwithstanding anything to the contrary contained herein, with respect to any
corporate event or other transaction contemplated by this <U>Section 8.7(b)</U>, each holder of Shares of Class A Preferred Stock
shall have the right to elect prior to the consummation of such event or transaction, to give effect to the conversion rights contained
in <U>Section 8</U>, instead of giving effect to the provisions contained in this <U>Section 8.7(b)</U> with respect to such holder&rsquo;s
Class A Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Certain
Events</I>. If any event of the type contemplated by the provisions of this <U>Section 8.7</U> but not expressly provided for by
such provisions occurs, then the Board shall make an appropriate adjustment in the Conversion Price and the number of Conversion
Shares issuable upon conversion of Shares of Class A Preferred Stock so as to protect the rights of the holder of such Shares in
a manner consistent with the provisions of this <U>Section 8</U>; <U>provided</U>, that no such adjustment pursuant to this <U>Section
8.7</U> shall increase the Conversion Price or decrease the number of Conversion Shares issuable to the extent otherwise already
determined pursuant to <U>Section 8(a) or </U>Section 8(b) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Exceptions
To Adjustment Upon Issuance of Common Stock</I>. Anything herein to the contrary notwithstanding, there shall be no adjustment
to the Conversion Price or the number of Conversion Shares issuable upon conversion of the Class A Preferred Stock with respect
to any Excluded Issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Certificate
as to Adjustment</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in"><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>As
promptly as reasonably practicable following any adjustment of the Conversion Price, but in any event not later than thirty (30)
days thereafter, the Corporation shall furnish to each holder of record of Class A Preferred Stock at the address specified for
such holder in the books and records of the Corporation (or at such other address as may be provided to the Corporation in writing
by such holder) a certificate of an executive officer setting forth in reasonable detail such adjustment and the facts upon which
it is based and certifying the calculation thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1.25in"><B>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>As
promptly as reasonably practicable following the receipt by the Corporation of a written request by any holder of Class A Preferred
Stock, but in any event not later than thirty (30) days thereafter, the Corporation shall furnish to such holder a certificate
of an executive officer certifying the Conversion Price then in effect and the number of Conversion Shares or the amount, if any,
of other shares of stock, securities or assets then issuable to such holder upon conversion of the Shares of Class A Preferred
Stock held by such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Notices</I>.
In the event: (i) that the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities
at the time issuable upon conversion of the Class A Preferred Stock) for the purpose of entitling or enabling them to receive any
dividend or other distribution, to vote at a meeting (or by written consent), to receive any right to subscribe for or purchase
any shares of capital stock of any class or any other securities, or to receive any other security; of any capital reorganization
of the Corporation, any reclassification of the Common Stock of the Corporation, any consolidation or merger of the Corporation
with or into another Person, or sale of all or substantially all of the Corporation&rsquo;s assets to another Person; or (ii) of
the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation; then, and in each such case, the Corporation
shall send or cause to be sent to each holder of record of Class A Preferred Stock at the address specified for such holder in
the books and records of the Corporation (or at such other address as may be provided to the Corporation in writing by such holder)
at least thirty (30) days prior to the applicable record date or the applicable expected effective date, as the case may be, for
the event, a written notice specifying, as the case may be, (1) the record date for such dividend, distribution, meeting or consent
or other right or action, and a description of such dividend, distribution or other right or action to be taken at such meeting
or by written consent, or (2) the effective date on which such reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding-up is proposed to take place, and the date, if any is to be fixed, as of which the books of the Corporation
shall close or a record shall be taken with respect to which the holders of record of Common Stock (or such other capital stock
or securities at the time issuable upon conversion of the Class A Preferred Stock) shall be entitled to exchange their shares of
Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up, and the amount per share and character of
such exchange applicable to the Class A Preferred Stock and the Conversion Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Breach
of Obligations</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Class
A Preferred Stock Breach</I></B>. A breach by the Corporation of the rights, preferences, powers, restrictions and limitations
of the Class A Preferred Stock set forth herein shall mean the occurrence of one or more of any of the events and conditions set
forth in this <U>Section 9.1</U> (each such event or condition, a &ldquo;<U>Breach</U>&rdquo;), whether such event or condition
occurs voluntarily or involuntarily, by operation of law or pursuant to any judgment, order, decree, rule or regulation and regardless
of the reason or cause of such event or condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Nonpayment
of Redemption or Liquidation Payments</I>. The failure of the Corporation to make any (i) redemption payment when due pursuant
to <U>Section 7</U> or (ii) liquidation payment when due pursuant to <U>Section 5</U>, in each case whether or not such payment
is legally permissible or is otherwise prohibited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Breach
of Voting Rights</I>. The Corporation or any of its Subsidiaries breaches or otherwise fails to perform or observe any of the covenants
or agreements contained in <U>Section 6.2</U>, including by attempting to take any action requiring the affirmative consent of
a Supermajority Interest of the holders of the Class A Preferred Stock without first obtaining such consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Bankruptcy
or Insolvency</I>. The Corporation or any of its Subsidiaries (i) becomes insolvent or admits its inability to pay its debts generally
as they become due; (ii) becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy
or insolvency law, which is not fully stayed within seven (7) days or is not dismissed or vacated within thirty (30) days after
filing; (iii) makes a general assignment for the benefit of creditors; or (iv) has a receiver, trustee, custodian or similar agent
appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Consequences
of Breach</I></B>. In addition to any other rights which a holder of Shares of Class A Preferred Stock is entitled under any other
contract or agreement and any other rights such holder may have pursuant to applicable law, the holders of Shares of Class A Preferred
Stock shall have the rights and remedies set forth in this <U>Section 9.2</U> on the occurrence of a Breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Increased
Dividend Rate</I>. Except as provided in <U>Section 7.4</U>, if a Breach has occurred and is continuing, the dividend rate on the
Class A Preferred Stock set forth in <U>Section 4.1</U> hereof shall increase immediately by an increment of 0.5% per annum, and
thereafter shall automatically increase further (and accrue at such higher aggregate dividend rate) at the end of each succeeding
ninety (90) day period following the date of the initial Breach by an additional increment of 1% per annum (but in no event shall
the aggregate dividend rate accruing pursuant to <U>Section 4</U> and this <U>Section 9.2(a)</U> exceed 14% per annum), until no
Breach exists.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><I>Automatic
Redemption on Bankruptcy</I>. Notwithstanding the earliest date for redemption set forth in <U>Section 7.1</U>, if a Breach described
in <U>Section 9.1(c)</U> has occurred, all of the then outstanding Shares of Class A Preferred Stock shall be subject to redemption
immediately without any action required by the holders of Shares of Class A Preferred Stock, for a price per Share equal to the
Class A Redemption Price. Any such redemption shall occur immediately and shall otherwise be executed in accordance with the provisions
of <U>Section 7</U>, applied mutatis mutandis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reissuance
of Class A Preferred Stock</U></B>. Any Shares of Class A Preferred Stock redeemed, converted or otherwise acquired by the Corporation
or any Subsidiary shall be cancelled and retired as authorized and issued shares of capital stock of the Corporation and no such
Shares shall thereafter be reissued, sold or transferred.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U></B>.
Except as otherwise provided herein, all notices, requests, consents, claims, demands, waivers and other communications hereunder
shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt);
(b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent
by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient,
and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed,
by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent (y) to the Corporation,
at its principal executive offices and (z) to any stockholder, at such holder&rsquo;s address at it appears in the stock records
of the Corporation (or at such other address for a stockholder as shall be specified in a notice given in accordance with this
<U>Section 11</U>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
and Waiver</U></B>. No provision of this Certificate of Designation may be amended, modified or waived except by an instrument
in writing executed by the Corporation and a Supermajority Interest, and any such written amendment, modification or waiver will
be binding upon the Corporation and each holder of Class A Preferred Stock; <U>provided</U>, that no such action shall change or
waive (a) the definition of Liquidation Value, (b) the rate at which or the manner in which dividends on the Class A Preferred
Stock accrue or accumulate or the times at which such dividends become payable pursuant to <U>Section 4</U>, or (c) this <U>Section
12</U>, without the prior written consent of each holder of outstanding Shares of Class A Preferred Stock; <U>provided</U>, <U>further</U>,
that no amendment, modification or waiver of the terms or relative priorities of the Class A Preferred Stock may be accomplished
by the merger, consolidation or other transaction of the Corporation with another corporation or entity unless the Corporation
has obtained the prior written consent of the holders in accordance with this <U>Section 12</U>.</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">[SIGNATURE PAGE FOLLOWS]</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
this Certificate of Designation is executed on behalf of the Corporation by its the undersigned officer as of this 20th day of
July 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><B>&nbsp;</B></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>&nbsp;</TD>
    <TD COLSPAN="2"><B>LIMBACH HOLDINGS, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>(f/k/a 1347 CAPITAL CORP.)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Hassan R. Baqar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Hassan R. Baqar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Signature Page to Certificate of Designation
&ndash; Class A Preferred Stock</I></P>

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>v444860_ex10-1.htm
<DESCRIPTION>AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, DATED AS OF JULY 20, 2016, BY AND AMONG THE COMPANY AND THE PARTIES NAMED ON THE SIGNATURE PAGES THERETO
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><FONT STYLE="font-variant: small-caps"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</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-align: center"><U>AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</U></P>

<P STYLE="font: bold 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: justify; text-indent: 0.5in">This <FONT STYLE="font-variant: small-caps">Amended
and Restated Registration Rights Agreement</FONT> (this &ldquo;<B>Agreement</B>&rdquo;) is entered into as of July 20, 2016, by
and among 1347 Capital Corp., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and the parties listed on the signature
pages hereto (each, an &ldquo;<B>Investor</B>&rdquo; and, collectively, the &ldquo;<B>Investors</B>&rdquo;).</P>

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

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

<P STYLE="font: bold 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: justify; text-indent: 0.5in">WHEREAS, in connection
with the Company&rsquo;s initial public offering, 1347 Investors LLC (the &ldquo;<B>Sponsor</B>&rdquo;), EarlyBirdCapital, Inc.
(&ldquo;<B>EarlyBird</B>&rdquo;) and the Company entered into that certain Registration Rights Agreement, dated as of July 15,
2014 (the &ldquo;<B>Initial Agreement</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Sponsor
transferred an aggregate of 100,000 shares of Common Stock to certain permitted transferees (the &ldquo;<B>Initial Investors</B>&rdquo;)
who joined the Initial Agreement and who, together with the Sponsor, currently hold all of the outstanding shares of Common Stock
of the Company issued prior to the consummation of the Company&rsquo;s initial public offering (the &ldquo;<B>Initial Shares</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Sponsor
privately purchased 198,000 units simultaneously with the consummation of the Company&rsquo;s initial public offering (the &ldquo;<B>Private
Units</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Sponsor
privately purchased an aggregate of 600,000 warrants (the &ldquo;<B>$15 Exercise Price Sponsor Warrants</B>&rdquo;) simultaneously
with the consummation of the Company&rsquo;s initial public offering;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
has entered into that certain Agreement and Plan of Merger, dated as of March 23, 2016, that certain Amendment No. 1 to Agreement
and Plan of Merger, dated as of July 11, 2016, and that certain Amendment No. 2 to Agreement and Plan of Merger, dated as of July
18, 2016 (the Agreement and Plan of Merger, as so amended, the &ldquo;<B>Merger Agreement</B>&rdquo;), with Limbach Holdings LLC
(&ldquo;<B>Limbach</B>&rdquo;) and the other parties named therein;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, subject to
the terms and conditions of, and in such manner and at such time as described in, the Merger Agreement, the Company will (i) issue
and deposit, or will cause to be deposited, for the benefit of the holders of issued and outstanding membership interests of Limbach
(the &ldquo;<B>Limbach Unitholders</B>&rdquo;) (1) 2,200,005 shares of Common Stock of the Company (the &ldquo;<B>Merger Shares</B>&rdquo;),
(2) 666,670 warrants of the Company, each representing the right to acquire one share of Common Stock of the Company at an exercise
price of $12.50 (the &ldquo;<B>Merger Warrants</B>&rdquo;), and (3) 1,000,006 warrants of the Company, each representing the right
to acquire one share of Common Stock of the Company at an exercise price of $11.50 (the &ldquo;<B>Additional Warrants</B>&rdquo;);
and (ii) issue to Sponsor or its affiliates 400,000 shares of Class A Preferred Stock of the Company (the &ldquo;<B>Preferred Shares</B>&rdquo;)
in a private placement, each of which shall be convertible into two shares of Common Stock at a conversion price of $12.50 per
share of Common Stock;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
filed with the United States Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) (i) a Registration Statement
on Form S-4 under the U.S. Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;), to register the offer,
issuance and sale of the Merger Shares, the shares underlying the Merger Warrants and the shares underlying the Preferred Shares,
which registration statement became effective on June 16, 2016 (the &ldquo;<B>Form S-4 Registration Statement</B>&rdquo;);</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, upon the closing
of the transactions contemplated by the Merger Agreement (the &ldquo;<B>Closing</B>&rdquo;), up to the Merger Shares are expected
to be registered under the U.S. Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection
with the transactions contemplated by the Merger Agreement (the &ldquo;<B>Business Combination</B>&rdquo;), the Initial Investors,
EarlyBird and the Company wish to amend and restate the Initial Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Investors
and the Company desire to enter into this Agreement to provide the Investors with certain rights relating to the registration of
the Initial Shares, the Private Units (and the underlying Warrants and shares of Common Stock), the $15 Exercise Price Sponsor
Warrants (and the underlying shares of Common Stock), the Merger Shares, the Merger Warrants (and the underlying shares of Common
Stock), the Additional Warrants (and the underlying shares of Common Stock), and the Preferred Shares (and the underlying shares
of Common Stock);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">SECTION
1</FONT><BR>
Definitions</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.1&#9;Certain
Definitions<FONT STYLE="font-weight: normal">. As used in this Agreement, the following terms shall have the meanings set forth
below:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;&ldquo;<B>$15
Exercise Price Sponsor Warrants</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;&ldquo;<B>Additional
Warrants</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;&ldquo;<B>Agreement</B>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&#9;&ldquo;<B>Affiliate</B>&rdquo;
of any person or entity, shall mean any other person or entity that directly or indirectly, through one or more intermediaries,
controls, is controlled by, or is under common control with, such first person or entity. As used in this definition, the term
&ldquo;control,&rdquo; including the correlative terms &ldquo;controlled by&rdquo; and &ldquo;under common control with,&rdquo;
means (i) the direct or indirect ownership of more than fifty percent (50%) of the voting rights of a person or entity or (ii)
the possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through
ownership of securities or any equity or other ownership interest, by contract or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&#9;&ldquo;<B>Business
Combination</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&#9;&ldquo;<B>Charter</B>&rdquo;
shall mean the second amended and restated certificate of incorporation of the Company, as may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&#9;&ldquo;<B>Class
A Preferred Stock</B>&rdquo; means the Class A Preferred Stock of the Company issued in connection with the consummation of the
Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&#9;&ldquo;<B>Closing</B>&rdquo;
shall mean the closing of the transactions contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&#9; &ldquo;<B>Commission</B>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&#9;&ldquo;<B>Common
Stock</B>&rdquo; shall mean the common stock, par value $0.0001 per share, of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&#9;&ldquo;<B>Company</B>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&#9;&ldquo;<B>Dollars</B>&rdquo;
or &ldquo;<B>$</B>&rdquo; shall mean the currency of the United States of America. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&#9;&ldquo;<B>Exchange
Act</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)&#9;&ldquo;<B>Form
S-4 Registration Statement</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)&#9; &ldquo;<B>Holder</B>&rdquo;
shall mean an Investor who holds Registrable Securities (including their donees, pledgees, assignees, transferees and other successors)
and any holder of Registrable Securities to whom the registration rights conferred by this Agreement have been duly and validly
transferred in accordance with <U>Section&nbsp;2.10</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)&#9;&ldquo;<B>Indemnified
Party</B>&rdquo; shall have the meaning set forth in <U>Section&nbsp;2.5(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)&#9;&ldquo;<B>Indemnifying
Party</B>&rdquo; shall have the meaning set forth in <U>Section&nbsp;2.5(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r)&#9;&ldquo;<B>Initial
Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(s)&#9;&ldquo;<B>Initial
Investors</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(t)&#9;&ldquo;<B>Initial
Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(u)&#9;&ldquo;<B>Initial
Private Units</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v)&#9;&ldquo;<B>Initiating
Holders</B>&rdquo; shall mean any Holder or Holders who in the aggregate hold not less than (i) a majority of the Registrable Securities
issued to the Initial Investors or (ii) a majority of the Registrable Securities issued under the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(w)&#9;&ldquo;<B>Investors</B>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(x)&#9;&ldquo;<B>Limbach</B>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(y)&#9;&ldquo;<B>Limbach
Unitholders</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(z)&#9;&ldquo;<B>Liquidated
Damages</B>&rdquo; has the meaning set forth in <U>Section 2.11</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(aa)&#9;&ldquo;<B>Lockup
Period</B>&rdquo; shall mean the lockup period relating to the Registrable Securities that are subject to the Limbach Holder Lockup
Agreement (as defined in the Merger Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(bb)&#9;&ldquo;<B>Merger
Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(cc)&#9;&ldquo;<B>Merger
Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(dd)&#9;&ldquo;<B>Merger
Warrants</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ee)&#9;&ldquo;<B>New
Registration Statement</B>&rdquo; has the meaning set forth in <U>Section 2.1(a)(iii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ff)&#9; &ldquo;<B>Other
Selling Shareholders</B>&rdquo; shall mean persons or entities other than Holders who, by virtue of agreements with the Company,
are entitled to include their Other Shares in certain registrations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(gg)&#9;&ldquo;<B>Other
Shares</B>&rdquo; shall mean securities of the Company, other than Registrable Securities (as defined below), with respect to which
registration rights have been granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(hh)&#9; &ldquo;<B>Preferred
Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&#9;&ldquo;<B>Private
Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(jj)&#9;The terms &ldquo;<B>register</B>,&rdquo;
&ldquo;<B>registered</B>&rdquo; and &ldquo;<B>registration</B>&rdquo; shall refer to a registration effected by preparing and filing
a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the declaration
or ordering of the effectiveness of such registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(kk)&#9;&ldquo;<B>Registrable
Securities</B>&rdquo; shall mean (i)&nbsp;the Initial Shares, Private Units (and the underlying Warrants and shares of Common Stock),
$15 Exercise Price Sponsor Warrants (and the underlying shares of Common Stock), Merger Shares, shares of Common Stock underlying
the Merger Warrants, shares of Common Stock underlying the Additional Warrants, and the shares of Common Stock underlying the Preferred
Shares, as set forth on <U>Exhibit A</U> to this Agreement, and (ii) any Initial Shares, Private Units (and underlying Warrants
and shares of Common Stock), $15 Exercise Price Sponsor Warrants (and underlying shares of Common Stock), Merger Shares, shares
of Common Stock underlying the Merger Warrants, shares of Common Stock underlying the Additional Warrants, and the shares of Common
Stock underlying the Preferred Shares issued as a dividend or other distribution with respect to or in exchange for or in replacement
of the shares referenced in (i); <U>provided</U>, <U>however</U>, that Registrable Securities shall not include any securities
described in clause (i) or (ii) above which have previously been registered and sold or which have or may be sold to the public
either pursuant to a registration statement or Rule&nbsp;144, or which have been sold in a private transaction in which the transferor&rsquo;s
rights under this Agreement are not validly assigned in accordance with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ll)&#9;&ldquo;<B>Registration
Expenses</B>&rdquo; shall mean all expenses incurred in effecting any registration pursuant to this Agreement, including, without
limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel
for the Company and the Holders (which counsel shall be selected by a majority in interest of the Holders participating in the
registration), blue sky fees and expenses, and expenses of any regular or special audits incident to or required by any such registration,
but shall not include Selling Expenses, fees and disbursements of other counsel for the Holders and the compensation of regular
employees of the Company, which shall be paid in any event by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(mm)&#9;&ldquo;<B>Resale
Shelf Registration Statement</B>&rdquo; has the meaning set forth in <U>Section 2.1(a)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(nn)&#9;&ldquo;<B>Restricted
Securities</B>&rdquo; shall mean any Registrable Securities that are required to bear the legend set forth in <U>Section 2.7(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(oo)&#9;&ldquo;<B>Rule&nbsp;144</B>&rdquo;
shall mean Rule&nbsp;144 as promulgated by the Commission under the Securities Act, as such Rule&nbsp;may be amended from time
to time, or any similar successor rule that may be promulgated by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(pp)&#9;&ldquo;<B>Rule&nbsp;145</B>&rdquo;
shall mean Rule&nbsp;145 as promulgated by the Commission under the Securities Act, as such Rule&nbsp;may be amended from time
to time, or any similar successor rule that may be promulgated by the Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(qq)&#9;&ldquo;<B>SEC
Guidance</B>&rdquo; shall mean (i)&nbsp;any publicly-available written or oral guidance, or comments, requirements or requests
of the Staff and (ii)&nbsp;the Securities Act and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(rr)&#9;&ldquo;<B>Securities
Act</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ss)&#9;&ldquo;<B>Selling
Expenses</B>&rdquo; shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the sale
of Registrable Securities and fees and disbursements of counsel for any Holder (other than the fees and disbursements of one special
counsel to the Holders included in Registration Expenses).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(tt)&#9;&ldquo;<B>Staff</B>&rdquo;
shall mean the staff of the Division of Corporation Finance of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(uu)&#9;&ldquo;<B>Sponsor</B>&rdquo;
shall mean 1347 Investors LLC, the sponsor of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(vv)&#9;&ldquo;<B>Underwritten
Takedown</B>&rdquo; shall mean an underwritten public offering of Registrable Securities pursuant to an effective registration
statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ww)&#9;&ldquo;<B>Units</B>&rdquo;
shall mean the units of the Company, each comprised of one share of Common Stock, one right to receive one-tenth of one share of
Common Stock and one Warrant to purchase one-half of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(xx)&#9;&ldquo;<B>Warrants</B>&rdquo;
shall mean the warrants of the Company underlying the Units, each to purchase one-half of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">SECTION
2</FONT><BR>
Registration Rights</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.1&#9;Registration</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;<B><I>Registration
Requirements</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(i)&#9;</FONT>The
<FONT STYLE="font-size: 10pt">Company agrees that no later than thirty (30) days following the Closing, it shall prepare and file
with the Commission (i) a post-effective amendment to the Form S-4 Registration Statement, and (ii) a new registration statement
on an appropriate registration statement form, and, in each case, take all such other actions as are necessary to ensure that there
is an effective &ldquo;shelf&rdquo; registration statement containing a prospectus that remains current covering (and to qualify
under required U.S. state securities laws, if any) the offer and sale of all Registrable Securities by the Holders on a continuous
basis pursuant to Rule 415 of the Securities Act (the Form S-4 Registration Statement, as so amended, and the new registration
statement, the &ldquo;<B>Resale Shelf Registration Statement(s)</B>&rdquo;). The Company shall cause the Resale Shelf Registration
Statements to be declared effective as soon as possible thereafter, and to keep the Resale Shelf Registration Statements effective
under the Securities Act at all times.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii)&#9;Within ten
(10) days after the issuance by the Company to any Holder of any Registrable Securities that are not covered by the Form S-4 Registration
Statement or Resale Shelf Registration Statements, the Company shall prepare and file with the Commission a post-effective amendment
to the applicable Resale Shelf Registration Statement, or a new registration statement on an appropriate registration statement
form, and take all such other actions as are necessary to ensure that there is an effective registration statement containing a
prospectus that remains current covering (and to qualify under required U.S. state securities laws, if any) the offer and sale
of such Registrable Securities by the Holders thereunder on a continuous basis pursuant to Rule 415 of the Securities Act, and
the Company shall cause such Resale Shelf Registration Statement, as so amended, or new registration statement to be declared effective
as soon as possible thereafter and in any event within ninety (90) days after the date of the issuance of the Registrable Securities
to be covered thereby, and to keep such Resale Shelf Registration Statement, as so amended, or new registration statement effective
under the Securities Act at all times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii)&#9;Notwithstanding
the registration obligations set forth in this <U>Section 2.1(a)</U>, in the event the Staff informs the Company that all of the
Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on
any single registration statement, the Company agrees to promptly (1) inform each of the Holders thereof and use its reasonable
best efforts to file amendments to the applicable Resale Shelf Registration Statement as required by the Staff or (2) withdraw
the applicable Resale Shelf Registration Statement and file a new registration statement (a &ldquo;<B>New Registration Statement</B>&rdquo;),
in either case covering the maximum number of Registrable Securities permitted to be registered by the Staff, on Form S-3 or such
other form available to register for resale the Registrable Securities as a secondary offering; <U>provided</U>, <U>however</U>,
that prior to filing such amendments or New Registration Statement, the Company shall be obligated to use its reasonable best efforts
to advocate with the Staff for the registration of all of the Registrable Securities in accordance with the SEC Guidance, including
without limitation, Section 612.09 of the Compliance and Disclosure Interpretations of the Staff with respect to Rule 415, dated
January 26, 2009. Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth (or the Staff otherwise
requires) a limitation of the number of Registrable Securities permitted to be registered on a particular Registration Statement
as a secondary offering (and notwithstanding that the Company used reasonable best efforts to advocate with the Staff for the registration
of all or a greater number of Registrable Securities), the number of Registrable Securities to be registered on such Registration
Statement will be reduced so that the number of Registrable Securities to be registered on such Registration Statement is permitted
by the Staff, subject to any determination by the Staff that certain Holders must be reduced first based on the number of Registrable
Securities held by such Holders. In the event the Company amends a Resale Shelf Registration Statement or files a New Registration
Statement, as the case may be, under clauses (1) or (2) above, the Company will use its reasonable best efforts to file with the
Commission, as promptly as allowed by SEC Guidance, one or more registration statements on Form S-3 (except if the Company is then
ineligible to register for resale the Registrable Securities on Form S-3, in which case such registrations shall be on Form S-1)
to register for resale those Registrable Securities that were not registered for resale on the Resale Shelf Registration Statement,
as amended, or the New Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;<B><I>Request
for Underwritten Takedowns</I></B>. Subject to the conditions set forth in <U>Section 2.1(b)</U>, <U>(c)</U> and <U>(d)</U>, and
with respect to any Registrable Securities that are subject to a Lockup Period, following the expiration of such Lockup Period,
the Holders that qualify as Initiating Holders will be entitled to an unlimited number of Underwritten Takedowns so long as the
Registrable Securities to be offered thereby are at the time covered by an effective registration statement. If the Company shall
receive from Initiating Holders a written request signed by such Initiating Holders that the Company effect any Underwritten Takedown
with respect to all or a part of the Registrable Securities (such request shall state the number of shares of Registrable Securities
to be disposed of by such Initiating Holders), the Company will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.15pt 0pt 5.05pt; text-align: justify; text-indent: 1.5in">(i)&#9;promptly,
and in any event, within ten (10) days after receiving such request, give written notice of the proposed Underwritten Takedown
to all other Holders; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.15pt 0pt 5.05pt; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.15pt 0pt 5.05pt; text-align: justify; text-indent: 1.5in">(ii)&#9;as
soon as practicable, use its reasonable best efforts to complete such Underwritten Takedown within sixty (60) days thereafter (including,
without limitation, filing post-effective amendments, one or more prospectus supplements, appropriate qualifications under any
applicable blue sky or other state securities laws, and appropriate compliance with the Securities Act) and to permit and facilitate
the sale and distribution in an underwritten offering of all or such portion of such Registrable Securities as are specified in
such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request
as are specified in a written request received by the Company within ten (10) days after such written notice from the Company is
mailed or delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.15pt 0pt 5.05pt; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;<B><I>Limitations
on Underwritten Takedowns</I></B>. The Company shall not be obligated to effect any Underwritten Takedown pursuant to this <U>Section
2.1</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)&#9;With respect
to any Registrable Securities subject to a Lockup Period, until the expiration of the applicable Lockup Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii)&#9;If the Initiating
Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration statement,
propose to sell Registrable Securities and such other securities (if any) the aggregate proceeds of which (after deduction for
underwriter&rsquo;s discounts and expenses related to the issuance) are anticipated to be less than $10,000,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii)&#9;In any particular
jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such registration,
qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as may be required
by the Securities Act; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&#9;<B><I>Deferral</I></B>.
If (i) in the good faith judgment of the board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;), the commencement of
an Underwritten Takedown would be detrimental to the Company and the Board concludes, as a result, that it is in the best interests
of the Company to defer such Underwritten Takedown, and (ii) the Company shall furnish to such Holders a certificate signed by
the Executive Director of the Company stating that in the good faith judgment of the Board, it would be materially detrimental
to the Company for such Underwritten Takedown to be consummated in the near future because it would (1) materially interfere with
a material acquisition, corporate reorganization, or other similar transaction involving the Company; (2) require premature disclosure
of material information that the Company has a bona fide business purpose for preserving as confidential; or (3) render the Company
unable to comply with requirements under the Securities Act or Exchange Act, and that it is, therefore, in the best interests of
the Company to defer the Underwritten Takedown, then (in addition to the limitations set forth in <U>Section 2.1(c)</U> above)
the Company shall have the right to defer such Underwritten Takedown for a period of not more than sixty (60) days after receipt
of the request of the Initiating Holders, and, <U>provided</U>, that the Company shall not defer its obligation in this manner
more than a total of sixty (60) days in any twelve-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&#9;<B><I>Other Shares</I></B>.
Any Underwritten Takedown may, subject to the provisions of <U>Section 2.1(f)</U>, include Other Shares, and may include securities
of the Company being sold for the account of the Company; <U>provided</U>, that, any Other Shares or securities of the Company
to be included in an Underwritten Takedown must be the subject of an effective shelf registration statement at the time the Company
receives the request for an Underwritten Takedown from the Initiating Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&#9;<B><I>Underwriting;
Cutback</I></B>. If the Company shall request inclusion in any Underwritten Takedown securities being sold for its own account,
or if other persons shall request inclusion of Other Shares in any Underwritten Takedown, the Initiating Holders shall, on behalf
of all Holders, offer to include such securities in the underwriting and such offer shall be conditioned upon the participation
of the Company or such other persons in such underwriting and the inclusion of the Company&rsquo;s and such other person&rsquo;s
securities of the Company and their acceptance of the further applicable provisions of this <U>Section 2</U>. The Company shall
(together with all Holders and other persons proposing to distribute their securities through such underwriting) enter into an
underwriting agreement in customary form with the representative of the underwriter or underwriters selected for such underwriting
by the Company, which underwriters are reasonably acceptable to a majority-in-interest of the Initiating Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding any
other provision of this <U>Section 2.1</U>, if the underwriters advise the Initiating Holders in writing that marketing factors
require a limitation on the number of Registrable Securities to be underwritten, the number of Registrable Securities and Other
Shares that may be so included shall be allocated as follows: (i) first, among all Holders requesting to include Registrable Securities
in such registration statement based on the <I>pro rata </I>percentage of Registrable Securities held by such Holders (determined
based on the aggregate number of Registrable Securities held by each such Holder); (ii) second, to the Company, which the Company
may allocate, at its discretion, for its own account, or for the account of other Holders or employees of the Company, and (iii)
third, to any Other Selling Shareholders requesting to include Other Shares in such registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a person who has
requested inclusion in such Underwritten Takedown as provided above does not agree to the terms of any such underwriting, such
person shall be excluded therefrom by written notice to the Company, the underwriter or the Initiating Holders, and the securities
so excluded shall also be withdrawn from the Underwritten Takedown. If Registrable Securities are so withdrawn from the Underwritten
Takedown and if the number of shares to be included in such Underwritten Takedown was previously reduced as a result of marketing
factors pursuant to this <U>Section 2.1(f)</U>, then the Company shall then offer to all Holders who have retained rights to include
securities in the Underwritten Takedown the right to include additional Registrable Securities in the offering in an aggregate
amount equal to the number of shares so withdrawn, with such shares to be allocated among such Holders requesting additional inclusion,
as set forth above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&#9;<B><I>Suspension</I></B>.
If (i) in the good faith judgment of the Board, a registration or disposition of Registrable Securities pursuant to an effective
registration statement filed pursuant to this <U>Section 2</U> (including, for the avoidance of doubt, the Form S-4 Registration
Statement) would be detrimental to the Company and the Board concludes, as a result, that it is in the best interests of the Company
to suspend usage of such registration statement at such time, and (ii) the Company shall furnish to such Holders a certificate
signed by the Executive Director of the Company stating that in the good faith judgment of the Board, it would be materially detrimental
to the Company for Registrable Securities to be registered and disposed pursuant to such registration statement in the near future
because it would (1) materially interfere with a material acquisition, corporate reorganization, or other similar transaction involving
the Company; (2) require premature disclosure of material information that the Company has a bona fide business purpose for preserving
as confidential; or (3) render the Company unable to comply with requirements under the Securities Act or Exchange Act, and that
it is, therefore, in the best interests of the Company to suspend the usage of such registration statement, then the Company shall
have the right to suspend the usage of such registration statement for a period of not more than sixty (60) days; <U>provided</U>,
that the Company shall not suspend usage of a registration statement in this manner more than a total of sixty (60) days in any
twelve-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2&#9;Company
Registration</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;<B><I>Company
Registration</I></B>. If the Company shall determine to register any of its securities either for its own account or the account
of a security holder or holders, other than a registration pursuant to <U>Section 2.1</U>, a registration relating solely to employee
benefit plans, a registration relating to the offer and sale of non-convertible debt securities, a registration relating to a corporate
reorganization or other Rule&nbsp;145 transaction, an offering made by the Company prior to expiration of the period described
in <U>Section 2.1(c)(i)</U>, or a registration on any registration form that does not permit secondary sales, the Company will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)&#9;promptly give
written notice (in any event not later than twenty (20) days prior to the filing of the registration statement to which such registration
relates) of the proposed registration to all Holders; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii)&#9;include in
such registration (and any related qualification under blue sky laws or other compliance), except as set forth in <U>Section&nbsp;2.2(b)</U>
below, and in any underwriting involved therein, all of such Registrable Securities as are specified in a written request or requests
made by any Holder or Holders received by the Company within ten (10) days after such written notice from the Company is mailed
or delivered. Such written request may specify all or a part of a Holder&rsquo;s Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;<B><I>Underwriting;
Cutback</I></B>. If the registration of which the Company gives notice is for a registered public offering involving an underwriting,
the Company shall so advise the Holders as a part of the written notice given pursuant to <U>Section&nbsp;2.2(a)(i)</U>. In such
event, the right of any Holder to registration pursuant to this <U>Section&nbsp;2.2</U> shall be conditioned upon such Holder&rsquo;s
participation in such underwriting and the inclusion of such Holder&rsquo;s Registrable Securities in the underwriting to the extent
provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company,
the Other Selling Shareholders and other holders of securities of the Company with registration rights to participate therein distributing
their securities through such underwriting) enter into an underwriting agreement in customary form with the representative of the
underwriter or underwriters selected by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding any
other provision of this <U>Section 2.2</U>, if the underwriters advise the Company in writing that marketing factors require a
limitation on the number of shares to be underwritten, the underwriters may (subject to the limitations set forth below) limit
the number of Registrable Securities to be included in, the registration and underwriting. The Company shall so advise all holders
of securities requesting registration, and the number of shares of securities that are entitled to be included in the registration
and underwriting shall be allocated, as follows: (i) first, to the Company for securities being sold for its own account, (ii)
second, to the Holders requesting to include Registrable Securities in such registration statement pursuant to piggyback registration
rights based on the pro rata percentage of Registrable Securities held by such Holders (determined based on the aggregate number
of Registrable Securities held by each such Holder), and (iii) third, to the Other Selling Shareholders requesting to include Other
Shares in such registration statement pursuant to piggyback registration rights; provided, however, that in no event may less than
one-third of the total number of Equity Shares or other securities of the Company to be included in such underwritten offering
be made available for Registrable Securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a person who has
requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such person shall
also be excluded therefrom by written notice to the Company and the underwriter. The Registrable Securities or Other Shares so
excluded shall also be withdrawn from such registration. Any Registrable Securities or Other Shares excluded or withdrawn from
such underwriting shall be withdrawn from such registration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;<B><I>Right to
Terminate Registration</I></B>. The Company shall have the right to terminate or withdraw any registration initiated by it under
this <U>Section&nbsp;2.2</U> prior to the effectiveness of such registration whether or not any Holder has elected to include securities
in such registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.3&#9;Expenses
of Registration<FONT STYLE="font-weight: normal">. All Registration Expenses incurred in connection with registrations pursuant
to this <U>Section&nbsp;2</U> shall be borne by the Company. All Selling Expenses relating to securities registered on behalf of
the Holders and any Other Selling Shareholders shall be borne by the Holders and the holders of any Other Shares included in such
registration <I>pro rata</I> among each other on the basis of the number of Registrable Securities and Other Shares, respectively,
registered on their behalf.</FONT><FONT STYLE="font-size: 10pt">2.4&#9;Registration Procedures<FONT STYLE="font-weight: normal">.
In the case of each registration effected by the Company pursuant to <U>Section&nbsp;2</U>, the Company will keep each Holder advised
in writing as to the initiation of each registration and as to the completion thereof. At its sole expense, the Company will:</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;Prepare and file
with the Commission a registration statement with respect to such Registrable Securities, cause such registration statement to
become effective and keep such registration effective until all such Registrable Securities are sold;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;Prepare and file
with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition
of all securities covered by such registration statement for the period set forth in subsection (a)&nbsp;above;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;Furnish such number
of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including any amendment of or supplement
to the prospectus, as a Holder from time to time may reasonably request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&#9;Register and qualify
the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdiction as shall
be reasonably requested by the Holders; <U>provided</U>, that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&#9;Notify each seller
of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to
be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading or incomplete in light of the circumstances under which
they were made, and following such notification promptly prepare and file a post-effective amendment to such registration statement
or a supplement to the related prospectus or any document incorporated therein by reference, and file any other required document
that would be incorporated by reference into such registration statement and prospectus, so that such registration statement does
not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading, and that such prospectus does not contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading, and, in the case of a post-effective amendment to a registration statement, use commercially
reasonable efforts to cause it to be declared effective as promptly as is reasonably practicable, and give to the Holders listed
as selling security holders in such prospectus a written notice of such amendment or supplement, and, upon receipt of such notice,
each such Holder agrees not to sell any Registrable Securities pursuant to such registration statement until such Holder&rsquo;s
receipt of copies of the supplemented or amended prospectus or until it receives further written notice from the Company that such
sales may re-commence, and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated
by reference in such prospectus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&#9;Use its reasonable
best efforts to obtain the withdrawal of any order suspending the effectiveness of any registration statement as promptly as possible
(and promptly notify in writing each Holder covered by such registration statement of the withdrawal of any such order);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&#9;Provide a transfer
agent and registrar for all Registrable Securities registered pursuant to such registration statement and a CUSIP number for all
such Registrable Securities, in each case not later than the effective date of such registration;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&#9;Notwithstanding
anything to the contrary contained herein, if requested by any Initial Investor, cause all Registrable Securities issued to such
Initial Investor (or its designee) to be delivered to a brokerage account designated by such Initial Investor (or its designees)
in electronic book-entry form via The Depository Trust Company&rsquo;s Deposit and Withdrawal at Custodian (DWAC) service within
ten (10) days after such Registrable Securities become covered by an effective registration statement (and not subject to a Lockup
Period), and to take any action reasonably requested by an Initial Investors (or its designee), including without limitation, procuring
and delivering any opinions of counsel, certificates or agreements as may be necessary to cause such Registrable Securities to
be so delivered;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&#9;Cause all such
Registrable Securities registered hereunder to be listed on each securities exchange on which similar securities issued by the
Company are then listed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&#9;In connection
with any underwritten offering pursuant to a registration statement filed pursuant to&nbsp;<U>Section 2.1</U> or <U>2.2</U>, enter
into and perform its obligations under an underwriting agreement in form reasonably necessary to effect the offer and sale of the
Registrable Securities subject to such underwriting; <U>provided</U>, that such underwriting agreement contains reasonable and
customary provisions; and <U>provided</U>, <U>further</U>, that each Holder participating in such underwriting shall also enter
into and perform its obligations under such an agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&#9;Furnish to each
Holder of Registrable Securities included in such registration statement a signed counterpart, addressed to such Holder, of (1)&nbsp;any
opinion of counsel to the Company delivered to any underwriter dated the effective date of the registration statement or, in the
event of an underwritten offering, the date of the closing under the applicable underwriting agreement, in customary form, scope,
and substance, at a minimum to the effect that the registration statement has been declared effective and that no stop order is
in effect, which counsel and opinions shall be reasonably satisfactory to a majority of the Holders and their counsel and (2)&nbsp;any
comfort letter from the Company&rsquo;s independent public accountants delivered to any underwriter in customary form and covering
such matters of the type customarily covered by comfort letters as the managing underwriter or underwriters reasonably request.
In the event no legal opinion is delivered to any underwriter, the Company shall furnish to each Holder of Registrable Securities
included in such registration statement, at any time that such Holder elects to use a prospectus, an opinion of counsel to the
Company to the effect that the registration statement containing such prospectus has been declared effective and that no stop order
is in effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&#9;Promptly make
available for inspection by the selling Holders, any underwriter(s) participating in any disposition pursuant to such registration
statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all
financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company&rsquo;s officers,
directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter,
attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration
statement and to conduct appropriate due diligence in connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&#9;Fully cooperate,
and cause each of its principal executive officer, principal financial officer, principal accounting officer, and all other officers
and members of the management to fully cooperate in any offering of Registrable Securities hereunder, which cooperation shall include,
without limitation, assisting with the preparation of any registration statement or amendment thereto with respect to such offering
and all other offering materials and related documents, and participation in meetings with underwriters, attorneys, accountants
and potential stockholders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)&#9;Cooperate with
each Holder and each underwriter or agent, if any, participating in the disposition of such Registrable Securities and their respective
counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (&ldquo;<B>FINRA</B>&rdquo;),
and use its reasonable best efforts to make or cause to be made any filings required to be made by an issuer with FINRA in connection
with the filing of any registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)&#9;In the event of
any underwritten public offering of Registrable Securities, cause senior executive officers of the Company to participate in customary
&ldquo;road show&rdquo; presentations that may be reasonably requested by the managing underwriter in any such underwritten offering
and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling
efforts related thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)&#9;Notify each selling
Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective
or a supplement to any prospectus forming a part of such registration statement has been filed; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)&#9;After such registration
statement becomes effective, notify each selling Holder of any request by the Commission that the Company amend or supplement such
registration statement or prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5&#9;Indemnification<FONT STYLE="font-weight: normal">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;To the extent
permitted by law, the Company will indemnify and hold harmless each Holder, each of its officers, directors and partners, legal
counsel and accountants and each person or entity controlling such Holder within the meaning of Section&nbsp;15 of the Securities
Act, with respect to which registration, qualification or compliance has been effected pursuant to this <U>Section&nbsp;2</U>,
and each underwriter, if any, and each person or entity who controls within the meaning of Section&nbsp;15 of the Securities Act
any underwriter, against all expenses, claims, losses, damages and liabilities (or actions, proceedings or settlements in respect
thereof) arising out of or based on: (i)&nbsp;any untrue statement (or alleged untrue statement) of a material fact contained or
incorporated by reference in any prospectus, offering circular or other document (including any related registration statement,
notification or the like) incident to any such registration, qualification or compliance, (ii)&nbsp;any omission (or alleged omission)
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii)&nbsp;any
violation (or alleged violation) by the Company of the Securities Act, any state securities laws or any rule or regulation thereunder
applicable to the Company and relating to action or inaction required of the Company in connection with any offering covered by
such registration, qualification or compliance, and the Company will reimburse each such Holder, each of its officers, directors,
partners, legal counsel and accountants and each person or entity controlling such Holder, each such underwriter and each person
or entity who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with investigating
and defending or settling any such claim, loss, damage, liability or action; <U>provided</U> that the Company will not be liable
in any such case to the extent that any such claim, loss, damage, liability, or action arises out of or is based on any untrue
statement or omission based upon written information furnished to the Company by such Holder, any of such Holder&rsquo;s officers,
directors, partners, legal counsel or accountants, any person or entity controlling such Holder, such underwriter or any person
or entity who controls any such underwriter, and stated to be specifically for use therein; <U>provided</U>, <U>further</U>, that,
the indemnity agreement contained in this <U>Section&nbsp;2.5(a)</U> shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld); and <U>provided</U>, <U>further</U>, that, the Company shall not be required to reimburse the Holders
for the expenses of more than one counsel (plus reasonably required local counsel) to all Holders or to reimburse the underwriters
for the expenses of more than one counsel (plus reasonably required local counsel) to all underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;To the extent
permitted by law, each selling Holder, severally and not jointly, will, if Registrable Securities held by such Holder are included
in the securities as to which such registration, qualification or compliance is being effected, indemnify and hold harmless the
Company, each of its directors, officers, partners, legal counsel and accountants and each underwriter, if any, of the Company&rsquo;s
securities covered by such a registration statement, each person or entity who controls the Company or such underwriter within
the meaning of Section&nbsp;15 of the Securities Act, each other such Holder, and each of their officers, directors and partners,
and each person or entity controlling each other such Holder, against all claims, losses, damages and liabilities (or actions in
respect thereof) arising out of or based on: (i)&nbsp;any untrue statement (or alleged untrue statement) of a material fact contained
or incorporated by reference in any prospectus, offering circular or other document (including any related registration statement,
notification, or the like) incident to any such registration, qualification or compliance made in reliance upon and in conformity
with information furnished in writing by or on behalf of such selling Holder expressly for use in connection with such registration,
or (ii)&nbsp;any omission to state therein a material fact required to be stated therein or necessary to make the statements therein
not misleading made in reliance upon and in conformity with information furnished in writing by or on behalf of such selling Holder
expressly for use in connection with such registration, and will reimburse the Company and such Holders, directors, officers, partners,
legal counsel and accountants, persons, underwriters, or control persons for any legal or any other expenses reasonably incurred
in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent, but
only to the extent, that such untrue statement or omission is made in such registration statement, prospectus, offering circular
or other document in reliance upon and in conformity with written information furnished to the Company by such Holder and stated
to be specifically for use therein; <U>provided</U>, <U>however</U>, that the obligations of such Holder hereunder shall not apply
to amounts paid in settlement of any such claims, losses, damages or liabilities (or actions in respect thereof) if such settlement
is effected without the consent of such Holder (which consent shall not be unreasonably withheld); and <U>provided</U>, that in
no event shall any indemnity under this <U>Section&nbsp;2.5</U> exceed the net proceeds from the offering received by such Holder,
except in the case of fraud or willful misconduct by such Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;Each party entitled
to indemnification under this <U>Section&nbsp;2.5</U> (the &ldquo;<B>Indemnified</B> <B>Party</B>&rdquo;) shall give notice to
the party required to provide indemnification (the &ldquo;<B>Indemnifying</B> <B>Party</B>&rdquo;) promptly after such Indemnified
Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of such claim or any litigation resulting therefrom; <U>provided</U>, that counsel for the Indemnifying Party, who
shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified Party (whose
approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party&rsquo;s expense;
and <U>provided</U>, <U>further</U>, that the failure of any Indemnified Party to give notice as provided herein shall not relieve
the Indemnifying Party of its obligations under this <U>Section&nbsp;2.5</U>, to the extent such failure is not prejudicial. No
Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent
to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Each Indemnified
Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request
in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&#9;If the indemnification
provided for in this <U>Section&nbsp;2.5</U> is held by a court of competent jurisdiction to be unavailable to an Indemnified Party
with respect to any loss, liability, claim, damage, or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying
such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying
Party on the one hand and of the Indemnified Party on the other in connection with the statements or omissions that resulted in
such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the
Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying
Party or by the Indemnified Party and the parties&rsquo; relative intent, knowledge, access to information, and opportunity to
correct or prevent such statement or omission. No person or entity will be required under this <U>Section&nbsp;2.5(d)</U> to contribute
any amount in excess of the net proceeds from the offering received by such person or entity, except in the case of fraud or willful
misconduct by such person or entity. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f)
of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligations of
the Company and Holders under this <U>Section&nbsp;2.5</U> shall survive the completion of any offering of Registrable Securities
in a registration under this <U>Section&nbsp;2.5</U> and otherwise shall survive the termination of this Agreement until the expiration
of the applicable period of the statute of limitations.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.6&#9;Information
by Holder<FONT STYLE="font-weight: normal">. Each Holder of Registrable Securities shall furnish to the Company such information
regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall
be reasonably required in connection with any registration, qualification, or compliance referred to in this <U>Section&nbsp;2</U>.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.7&#9;Restrictions
on Transfer</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;The holder of
each certificate representing Registrable Securities by acceptance and/or retention thereof, agrees to comply in all respects with
the provisions of this <U>Section 2.7</U>. Each Holder agrees not to make any sale, assignment, transfer, pledge or other disposition
of all or any portion of the Restricted Securities, or any beneficial interest therein, unless and until the transferee thereof
has agreed in writing for the benefit of the Company to take and hold such Restricted Securities subject to, and to be bound by,
the terms and conditions set forth in this Agreement, including, without limitation, this <U>Section 2.7</U> and <U>Section 2.9</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;Before any proposed
sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities
Act covering the proposed transaction, the Holder shall have given prior written notice to the Company of the Holder&rsquo;s intention
to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the
proposed disposition, and the Holder shall have furnished the Company, at the Holder&rsquo;s expense, with (i) an opinion of counsel,
reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such Restricted Securities
under the Securities Act or (ii) a &ldquo;no action&rdquo; letter from the Commission to the effect that the transfer of such securities
without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto,
whereupon the holder of such Restricted Securities shall be entitled to transfer such Restricted Securities in accordance with
the terms of the notice delivered by the Holder to the Company. The Company will not require such a legal opinion or &ldquo;no
action&rdquo; letter (x) in any transaction in compliance with Rule 144 or (y) in any transaction in which such Holder distributes
Restricted Securities to an Affiliate of such Holder for no consideration; <U>provided</U>, that each transferee agrees in writing
to be subject to the terms of this <U>Section 2.7</U>. Each certificate or instrument evidencing the Restricted Securities transferred
as above provided shall bear, except if such transfer is made pursuant to Rule 144, the appropriate restrictive legend set forth
in <U>Section 2.7(c)</U>, except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for
such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;Each certificate
representing Registrable Securities shall (unless otherwise permitted by the provisions of this Agreement) be stamped or otherwise
imprinted with a legend substantially similar to the following (in addition to any legend required under applicable state securities
laws or any other contractual arrangement):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 59.75pt 0pt 77.05pt; text-align: justify; text-indent: 0.5in">THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<B>ACT</B>&rdquo;),
OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM.
THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 59.75pt 0pt 77.05pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&#9;The legend set
forth in <U>Section 2.7(c)</U> stamped on a certificate evidencing the Restricted Securities and the stock transfer instructions
and record notations with respect to the Restricted Securities shall be removed and the Company shall issue a certificate without
such legend to the holder of Restricted Securities if (i) those securities are registered under the Securities Act, or (ii) the
holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer
of those securities may be made without registration or qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.8&#9;Rule&nbsp;144
Reporting<FONT STYLE="font-weight: normal">. With a view to making available the benefits of certain rules and regulations of the
Commission that may permit the sale of the Restricted Securities to the public without registration, the Company agrees to use
its reasonable best efforts to:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;Make and keep
adequate current public information with respect to the Company available in accordance with Rule&nbsp;144 under the Securities
Act, at all times from and after ninety (90) days following the effective date of the first registration under the Securities Act
filed by the Company for an offering of its securities to the general public;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;File with the
Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange
Act at any time after it has become subject to such reporting requirements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;So long as a Holder
owns any Restricted Securities, furnish to the Holder forthwith upon written request a written statement by the Company as to its
compliance with the reporting requirements of Rule&nbsp;144 (at any time from and after ninety (90)&nbsp;days following the effective
date of the first registration statement filed by the Company for an offering of its securities to the general public), and of
the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies
as registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies), a copy of the most
recent annual or quarterly report of the Company, and such other reports and documents so filed as a Holder may reasonably request
in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities without registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.9&#9;Market
Stand-Off Agreement<FONT STYLE="font-weight: normal">. In connection with any underwritten public offering by the Company for its
own account or the account of a security holder or holders, each Holder agrees to execute a market standoff agreement with the
underwriters for such offering in customary form consistent with the provisions of this Agreement covering all Registrable Securities,
if any, which such Holder did not request be included in the registration for such public offering pursuant to this Agreement.
Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters
shall apply pro rata to all holders of Company capital stock subject to such agreements based on the number of shares subject to
such agreements.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.10&#9;Transfer
or Assignment of Rights<FONT STYLE="font-weight: normal">. The rights granted to a Holder by the Company under this <U>Section&nbsp;2</U>
may be transferred or assigned (but only with all related obligations) by a Holder&nbsp;only to a transferee of Registrable Securities
that is (i) an Affiliate of such Holder, (ii) a member of such Holder&rsquo;s immediate family or a trust for the benefit of an
individual Holder or one or more of Holders immediate family members or (iii) a transferee or assignee of not less than 10,000
Registrable Securities (as presently constituted and subject to subsequent adjustments for share splits, share dividends, reverse
share splits and the like); <U>provided</U><I>, </I>that (x)&nbsp;such transfer or assignment of Registrable Securities is effected
in accordance with applicable securities laws, (y) the Company is, within a reasonable time after such transfer, furnished with
written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are
being transferred and (z) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to
the terms and conditions of this Agreement.</FONT></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal"></FONT><FONT STYLE="font-size: 10pt">2.11&#9;Liquidated Damages<FONT STYLE="font-weight: normal">.
In the event that the applicable Resale Shelf Registration Statement is not declared effective within ninety (90) days after the
Closing, then the Investors shall be entitled to a payment, as liquidated damages and not as a penalty, of 0.25% per annum of the
30-Day VWAP (as defined below) multiplied by the number of Registrable Securities held by the Investors, which shall accrue daily,
for the first 60 days following the 90th day, increasing by an additional 0.25% per annum of the 30-Day VWAP multiplied by the
number of Registrable Securities held by the Investors per 30-day period, which shall accrue daily, for each subsequent 60 days
(<I>i.e.,</I> an aggregate 0.5% per annum for 61-120 days after the 90th day, 0.75% per annum for 121-180 days after the 90th day
and 1.0% per annum thereafter), up to a maximum of 2.0% per annum of the 30-Day VWAP multiplied by the number of Registrable Securities
held by the Investors per 30-day period (the &ldquo;</FONT>Liquidated Damages<FONT STYLE="font-weight: normal">&rdquo;). The Liquidated
Damages payable pursuant to the immediately preceding sentence shall be payable within ten (10) business days after the end of
each such 30-day period. Any Liquidated Damages shall be paid to the Investors in kind in the form of the issuance of a number
of shares of Common Stock equal to the result of dividing the amount of Liquidated Damages due to the Investors by the 30-Day VWAP,
rounded to the nearest whole number. Upon any issuance of Common Stock as Liquidated Damages, the Company shall promptly prepare
and file an amendment to the applicable Resale Shelf Registration Statement adding such Common Stock thereto as additional Registrable
Securities (as defined in the Registration Rights Agreement). The accrual of Liquidated Damages to the Investors shall cease at
the earlier of (i) the applicable Resale Shelf Registration Statement covering Registrable Securities becoming effective, and (ii)
when the Investors no longer hold Registrable Securities, and any payment of Liquidated Damages shall be prorated for any period
of less than thirty (30) days in which the payment of Liquidated Damages ceases. For purposes of this Agreement, &ldquo;30-Day
VWAP&rdquo; means the volume weighted average price of the shares of Common Stock traded on NASDAQ, or any other national securities
exchange on which the shares of Common Stock are then traded, for the 30 trading days ending on the first trading day immediately
preceding the date of determination of the 30-Day VWAP.</FONT></FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">SECTION
3</FONT><BR>
Miscellaneous</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1&#9;Amendment<FONT STYLE="font-weight: normal">.
Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument referencing this Agreement and signed by the Company and the Holders holding a majority of the
Registrable Securities then outstanding <U>provided</U>, <U>however</U>, that persons who become assignees or other transferees
of Registrable Securities in accordance with this Agreement after the date of this Agreement may become parties hereto, by executing
a counterpart of this Agreement without any amendment of this Agreement pursuant to this paragraph or any consent or approval of
any other Holder; and <U>provided</U>, <U>further</U>, that if any amendment, waiver, discharge or termination operates in a manner
that treats any Holder different from other Holders, the consent of such Holder shall also be required for such amendment, waiver,
discharge or termination. Any such amendment, waiver, discharge or termination effected in accordance with this paragraph shall
be binding upon each Holder and each future holder of all such securities of such Holder. Each Holder acknowledges that by the
operation of this paragraph, the Company and such majority in interest will have the right and power to diminish or eliminate all
rights of such Holder under this Agreement.</FONT><FONT STYLE="font-size: 10pt">3.2&#9;Notices<FONT STYLE="font-weight: normal">.
All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified
mail, postage prepaid, sent by facsimile or otherwise delivered by hand, messenger or courier service at the following addresses:</FONT></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;if to an Investor,
to such Investor&rsquo;s address, facsimile number or electronic mail address as shown on <U>Exhibit A</U> hereto, as may be updated
in accordance with the provisions hereof, with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 5.05pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">Winston
&amp; Strawn LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">200 Park
Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">New York,
NY 10166-4193</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">Attention:
Joel L. Rubinstein, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">Facsimile:
(212) 294-5336</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 1in; text-align: justify; text-indent: 1in">Email: JRubinstein@winston.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 5.05pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;if to any Holder
other than an Investor, to such address, facsimile number or electronic mail address as shown in the Company&rsquo;s records, or,
until any such Holder so furnishes an address, facsimile number or electronic mail address to the Company, then to the address,
facsimile number or electronic mail address of the last holder of such shares for which the Company has contact information in
its records; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&#9;If to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">c/o 1347 Capital
Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">150 Pierce Road,
6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">Itasca, Illinois
60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">Attention: Hassan
Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">Facsimile: (847)
952-4830</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Each such notice or other
communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger
or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying
next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt
or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail,
addressed and mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation of facsimile transfer, or (iv) if via email,
on the date of transmission.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.3&#9;Governing
Law<FONT STYLE="font-weight: normal">. This Agreement shall be governed in all respects by the internal laws of the State of Delaware
as applied to agreements entered into among Delaware residents to be performed entirely within Delaware, without regard to principles
of conflicts of law.</FONT><FONT STYLE="font-size: 10pt">3.4&#9;Successors and Assigns<FONT STYLE="font-weight: normal">. The provisions
of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators
of the parties hereto.</FONT>3.5&#9;Entire Agreement<FONT STYLE="font-weight: normal">. This Agreement and the exhibits hereto
constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof. No party hereto
shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations
or covenants except as specifically set forth herein.</FONT></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.6&#9;Delays
or Omissions<FONT STYLE="font-weight: normal">. Except as expressly provided herein, no delay or omission to exercise any right,
power or remedy accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall
impair any such right, power or remedy of such non-defaulting party, nor shall it be construed to be a waiver of any such breach
or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of
any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver,
permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or
any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective
only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded
to any party to this Agreement, shall be cumulative and not alternative.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.7&#9;Remedies<FONT STYLE="font-weight: normal">.
Each holder of Registrable Securities, in addition to being entitled to exercise all rights granted by law, including recovery
of damages, shall be entitled to specific performance of its rights under this Agreement. The Company acknowledges that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement
and the Company hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate.</FONT><FONT STYLE="font-size: 10pt">3.8&#9;Severability<FONT STYLE="font-weight: normal">.
If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement,
and such court will replace such illegal, void or unenforceable provision of this Agreement with a valid and enforceable provision
that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable
provision. The balance of this Agreement shall be enforceable in accordance with its terms.</FONT></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-weight: normal"></FONT>3.9&#9;Titles and Subtitles<FONT STYLE="font-weight: normal">.
The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall, unless otherwise provided, refer to
sections and paragraphs hereof and exhibits attached hereto.</FONT></FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.10&#9;Counterparts<FONT STYLE="font-weight: normal">.
This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties that execute
such counterparts, and all of which together shall constitute one instrument.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.11&#9;Telecopy
Execution and Delivery<FONT STYLE="font-weight: normal">. A facsimile, telecopy or other reproduction of this Agreement may be
executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant
to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding
and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute and deliver an original
of this Agreement as well as any facsimile, telecopy or other reproduction hereof.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.12&#9;Further
Assurances<FONT STYLE="font-weight: normal">. Each party hereto agrees to execute and deliver, by the proper exercise of its corporate,
limited liability company, partnership or other powers, all such other and additional instruments and documents and do all such
other acts and things as may be necessary to more fully effectuate this Agreement.</FONT><FONT STYLE="font-size: 10pt">3.13&#9;Termination
Upon Change of Control<FONT STYLE="font-weight: normal">. Notwithstanding anything to the contrary herein, this Agreement shall
terminate upon (a)&nbsp;the acquisition of the Company by another entity by means of any transaction or series of related transactions
to which the Company is party (including, without limitation, any stock acquisition, reorganization, merger or consolidation but
excluding any sale of stock for capital raising purposes) other than a transaction or series of transactions in which the holders
of the voting securities of the Company outstanding immediately prior to such transaction continue to retain (either by such voting
securities remaining outstanding or by such voting securities being converted into voting securities of the surviving entity),
as a result of shares in the Company held by such holders prior to such transaction, at least fifty percent (50%) of the total
voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such transaction
or series of transactions; or (b)&nbsp;a sale, lease or other conveyance of all substantially all of the assets of the Company.</FONT></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.14&#9;Conflict<FONT STYLE="font-weight: normal">.
In the event of any conflict between the terms of this Agreement and the Charter, the terms of the Charter will control.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.15&#9;Attorneys&rsquo;
Fees<FONT STYLE="font-weight: normal">. In the event that any suit or action is instituted to enforce any provision in this Agreement,
the prevailing party in such dispute shall be entitled to recover from the losing party such reasonable fees and expenses of attorneys
and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.16&#9;Aggregation
of Stock<FONT STYLE="font-weight: normal">. All securities held or acquired by affiliated entities of or persons shall be aggregated
together for purposes of determining the availability of any rights under this Agreement.</FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.17&#9;Jury Trial.
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(<I>signature pages follow</I>)</P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have duly executed this Amended and Restated Registration Rights Agreement as of the date first written above.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 46%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">/s/</FONT> <FONT STYLE="font-size: 10pt">Hassan R. Baqar</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;</FONT>Hassan R. Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;Chief Financial Officer &amp; Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[<I>Company Signature
Page to Registration Rights Agreement</I>]</P>



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

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

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">IN WITNESS WHEREOF, the
undersigned Investors have duly executed this Amended and Restated Registration Rights Agreement as of the date first written above.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 INVESTORS LLC</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 47%; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Hassan R. Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Hassan R. Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: President</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>EARLYBIRDCAPITAL, INC.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Michael Powell</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Michael Powell</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: Managing Director</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 INVESTORS LLC</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Hassan R. Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Hassan R. Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: President</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>EARLYBIRDCAPITAL, INC.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Michael Powell</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Michael Powell</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: Managing Director</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>F<I>d</I>G HVAC LLC</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ David Gellman</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: David Gellman</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: Vice President</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>LIMBACH MANAGEMENT HOLDING COMPANY LLC</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Dennis Sacco</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Dennis Sacco</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: Manager</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>MARATHON SPECIAL OPPORTUNITY MASTER FUND, LTD.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Andrew Rabinowitz</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name: Andrew Rabinowitz</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title: Authorized Signatory</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: Black 1pt solid">/s/ Charles A. Bacon III</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>Charles A. Bacon III</B></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[<I>Investor Signature
Page to Registration Rights Agreement &ndash; 1 of 2</I>]</P>



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

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/<FONT STYLE="font-variant: small-caps"> </FONT>Larry Swets</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Larry Swets</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">/</FONT>s/ Hassan Baqar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Hassan Baqar</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Gordon Pratt</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Gordon Pratt</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ John T. Fitzgerald</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>John T. Fitzgerald</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joshua Horowitz</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Joshua Horowitz</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Leo Christopher Saenger III</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Leo Christopher Saenger III</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Thomas D. Sargent</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Thomas D. Sargent</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ William M. Becker</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>William M. Becker</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Richard Booth</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Richard Booth</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Andrew Frazier</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Andrew Frazier</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Richard M. Powell</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><B>Richard M. Powell</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[<I>Investor Signature
Page to Registration Rights Agreement &ndash; 2 of 2</I>]</P>



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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>EXHIBIT A</U></B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 37%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Address, Fax Number</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>or Email for Notices</B></P></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Number of Registrable Securities</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">1347 Investors LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Itasca, IL 60143</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">1,258,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">EarlyBirdCapital, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">366 Madison Ave., 8th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">New York, NY 10017</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Mike Powell</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: MPowell@ebcap.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">82,500</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">FdG HVAC LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o FdG Associates</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">499 Park Avenue, 26th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">New York, New York 10022</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: David Gellman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Facsimile: (212) 940-6803</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: dsg@fdgassociates.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">3,066,562</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Limbach Management Holding Company LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o Limbach Holdings LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">31 35th Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Pittsburgh, Pennsylvania
        15201</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Scott Wright</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: scott.wright@limbachinc.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">191,662</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Marathon Special Opportunity Master Fund, Ltd.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o FdG Associates</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">499 Park Avenue, 26th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">New York, New York 10022</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: David Gellman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Facsimile: (212) 940-6803</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: dsg@fdgassociates.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">191,662</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Charles A. Bacon III</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o Limbach Holdings LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">31 35th Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Pittsburgh, Pennsylvania
        15201</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Charlie Bacon</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: charlie.bacon@limbachinc.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">383,322</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Larry Swets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Larry Swets</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: lswets@kfscap.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Hassan Baqar</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Gordon Pratt</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Gordon Pratt</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: gpratt@fundmanagementgroup.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">A - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 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="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; width: 37%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; width: 33%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; width: 26%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">John T. Fitzgerald</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Joshua Horowitz</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Leo Christopher Saenger III</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Thomas D. Sargent</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">William M. Becker</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Richard Booth</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Andrew Frazier</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o 1347 Capital Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">150 Pierce Road, 6<SUP>th</SUP>&nbsp;Floor<BR>
        Itasca, Illinois 60143<BR>
        Attn: Hassan Baqar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: hbaqar@kingswayfinancial.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Richard M. Powell</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o EarlyBirdCapital, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">366 Madison Ave., 8th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">New York, NY 10017</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Mike Powell</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: MPowell@ebcap.com</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">17,500</FONT></TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>v444860_ex10-3.htm
<DESCRIPTION>CREDIT AGREEMENT, DATED AS OF JULY 20, 2016
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom: Black 2.25pt double">&nbsp;</P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Credit Agreement</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: normal">among</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Limbach Facility Services LLC,
<FONT STYLE="font-variant: normal">a Delaware limited liability company, </FONT><BR>
<FONT STYLE="font-variant: normal">as Borrower,</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Limbach Holdings LLC, <FONT STYLE="font-variant: normal">a
Delaware limited liability company,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: normal">as
Parent,</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">The Guarantors<BR>
from time to time party hereto,</P>

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

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">from time to time party hereto,</P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fifth Third Bank,<FONT STYLE="font-variant: normal">
an Ohio banking corporation,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">as
Administrative Agent and L/C Issuer,</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The PrivateBank and Trust Company,</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">as
Co-Documentation Agent</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">and</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Wheaton Bank &amp; Trust Company,</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">a subsidiary of Wintrust Financial
Corp., <FONT STYLE="font-variant: normal">as Co-Documentation Agent</FONT></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of July 20, 2016</P>

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

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Fifth
Third Bank, <FONT STYLE="font-variant: normal">as Lead Arranger and Sole Book Runner</FONT></FONT></P>

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

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


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

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Table of Contents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 18%; text-align: justify"><FONT STYLE="font-variant: small-caps">Section</FONT></TD>
    <TD STYLE="width: 74%; text-align: center"><FONT STYLE="font-variant: small-caps">Heading</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-variant: small-caps">Page</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;1.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Definitions; Interpretation</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;1.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Definitions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;1.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Interpretation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">38</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;1.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Change in Accounting Principles</TD>
    <TD STYLE="text-align: right; text-indent: 0in">38</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;1.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Rounding</TD>
    <TD STYLE="text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;2.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">The Credit Facilities</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Term Loan Commitments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Revolving Credit Commitments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Letters of Credit</TD>
    <TD STYLE="text-align: right; text-indent: 0in">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Applicable Interest Rates</TD>
    <TD STYLE="text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Manner of Borrowing Loans and Designating Applicable Interest Rates</TD>
    <TD STYLE="text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Minimum Borrowing Amounts; Maximum Eurodollar Loans</TD>
    <TD STYLE="text-align: right; text-indent: 0in">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Maturity of Loans</TD>
    <TD STYLE="text-align: right; text-indent: 0in">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Prepayments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">49</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Place and Application of Payments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">52</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Voluntary Commitment Terminations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Swing Loans</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.12.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Evidence of Indebtedness</TD>
    <TD STYLE="text-align: right; text-indent: 0in">56</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.13.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Fees</TD>
    <TD STYLE="text-align: right; text-indent: 0in">57</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;2.14.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Account Debit</TD>
    <TD STYLE="text-align: right; text-indent: 0in">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;3.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Conditions Precedent</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;3.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">All Credit Events</TD>
    <TD STYLE="text-align: right; text-indent: 0in">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 3.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Initial Credit Event</TD>
    <TD STYLE="text-align: right; text-indent: 0in">59</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;4.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">The Collateral and Guaranties</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">62</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;4.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Collateral</TD>
    <TD STYLE="text-align: right; text-indent: 0in">62</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;4.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Liens on Real Property</TD>
    <TD STYLE="text-align: right; text-indent: 0in">63</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;4.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Guaranties</TD>
    <TD STYLE="text-align: right; text-indent: 0in">63</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;4.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Further Assurances</TD>
    <TD STYLE="text-align: right; text-indent: 0in">63</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;4.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Cash Collateral</TD>
    <TD STYLE="text-align: right; text-indent: 0in">63</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;5.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Representations and Warranties</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Organization and Qualification</TD>
    <TD STYLE="text-align: right; text-indent: 0in">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Authority and Enforceability</TD>
    <TD STYLE="text-align: right; text-indent: 0in">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Financial Reports</TD>
    <TD STYLE="text-align: right; text-indent: 0in">66</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">No Material Adverse Change</TD>
    <TD STYLE="text-align: right; text-indent: 0in">66</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 18%; padding-left: 27pt; text-indent: 0in">Section&nbsp;5.5.</TD>
    <TD STYLE="width: 74%; padding-left: 27pt; text-indent: 0in">Litigation and Other Controversies</TD>
    <TD STYLE="width: 8%; text-align: right; text-indent: 0in">66</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">True and Complete Disclosure</TD>
    <TD STYLE="text-align: right; text-indent: 0in">66</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Use of Proceeds; Margin Stock</TD>
    <TD STYLE="text-align: right; text-indent: 0in">67</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Taxes</TD>
    <TD STYLE="text-align: right; text-indent: 0in">67</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">ERISA</TD>
    <TD STYLE="text-align: right; text-indent: 0in">67</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Subsidiaries</TD>
    <TD STYLE="text-align: right; text-indent: 0in">68</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Compliance with Laws</TD>
    <TD STYLE="text-align: right; text-indent: 0in">68</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.12.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Environmental Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">68</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.13.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Investment Company</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.14.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Intellectual Property</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.15.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Good Title</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.16.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Labor Relations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.17.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Governmental Authority and Licensing</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.18.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Approvals</TD>
    <TD STYLE="text-align: right; text-indent: 0in">69</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.19.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Affiliate Transactions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 5.20.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Solvency</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.21.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">No Broker Fees</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.22.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">No Default</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.23.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Compliance with Sanctions Programs</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.24.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Merger Agreement; Bonding Facility</TD>
    <TD STYLE="text-align: right; text-indent: 0in">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.25.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Other Agreements and Documents</TD>
    <TD STYLE="text-align: right; text-indent: 0in">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.26.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Accuracy of Borrowing Base</TD>
    <TD STYLE="text-align: right; text-indent: 0in">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;5.27.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Mezzanine Debt</TD>
    <TD STYLE="text-align: right; text-indent: 0in">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;6.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Covenants</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Information Covenants</TD>
    <TD STYLE="text-align: right; text-indent: 0in">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Inspections; Field Examinations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">75</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Maintenance of Property and Insurance; Environmental Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">76</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Compliance with Laws and Material Agreements</TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">ERISA</TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Payment of Taxes</TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Preservation of Existence</TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Contracts with Affiliates</TD>
    <TD STYLE="text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Restrictions or Changes and Amendments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Change in the Nature of Business</TD>
    <TD STYLE="text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Indebtedness</TD>
    <TD STYLE="text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.12.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Liens</TD>
    <TD STYLE="text-align: right; text-indent: 0in">79</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.13.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Consolidation, Merger, and Sale of Assets</TD>
    <TD STYLE="text-align: right; text-indent: 0in">81</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.14.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Advances, Investments, and Loans</TD>
    <TD STYLE="text-align: right; text-indent: 0in">81</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.15.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Restricted Payments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">83</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.16.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Limitation on Restrictions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">83</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.17.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Limitation on Issuances of New Ownership Interests by Subsidiaries</TD>
    <TD STYLE="text-align: right; text-indent: 0in">83</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.18.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Limitation on the Creation of Subsidiaries</TD>
    <TD STYLE="text-align: right; text-indent: 0in">83</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 18%; padding-left: 27pt; text-indent: 0in">Section&nbsp;6.19.</TD>
    <TD STYLE="width: 74%; padding-left: 27pt; text-indent: 0in">Operating Accounts</TD>
    <TD STYLE="width: 8%; text-align: right; text-indent: 0in">84</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.20.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Financial Covenants</TD>
    <TD STYLE="text-align: right; text-indent: 0in">84</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.21.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Compliance with Sanctions Programs</TD>
    <TD STYLE="text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.22.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Subordinated Debt</TD>
    <TD STYLE="text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.23.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Change in Accounts</TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.24.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Credit Enhancements</TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.25.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Limitations on Parent</TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;6.26.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Bonding Capacity</TD>
    <TD STYLE="text-align: right; text-indent: 0in">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.27.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Use of Proceeds</TD>
    <TD STYLE="text-align: right; text-indent: 0in">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 6.28.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Post-Closing Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;7.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Events of Default and Remedies</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;7.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Events of Default</TD>
    <TD STYLE="text-align: right; text-indent: 0in">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;7.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Non-Bankruptcy Defaults</TD>
    <TD STYLE="text-align: right; text-indent: 0in">93</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;7.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Bankruptcy Defaults</TD>
    <TD STYLE="text-align: right; text-indent: 0in">94</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;7.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Collateral for Undrawn Letters of Credit</TD>
    <TD STYLE="text-align: right; text-indent: 0in">94</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;7.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Notice of Default</TD>
    <TD STYLE="text-align: right; text-indent: 0in">94</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;8.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Change in Circumstances and Contingencies</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">94</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Funding Indemnity</TD>
    <TD STYLE="text-align: right; text-indent: 0in">94</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Illegality</TD>
    <TD STYLE="text-align: right; text-indent: 0in">95</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Unavailability of Deposits or Inability to Ascertain, or Inadequacy of, LIBOR</TD>
    <TD STYLE="text-align: right; text-indent: 0in">95</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Increased Costs</TD>
    <TD STYLE="text-align: right; text-indent: 0in">96</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Discretion of Lender as to Manner of Funding</TD>
    <TD STYLE="text-align: right; text-indent: 0in">97</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;8.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Defaulting Lenders</TD>
    <TD STYLE="text-align: right; text-indent: 0in">97</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;9.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">The Administrative Agent</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps">100</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Appointment and Authorization of Administrative Agent</TD>
    <TD STYLE="text-align: right; text-indent: 0in">100</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Administrative Agent and Its Affiliates</TD>
    <TD STYLE="text-align: right; text-indent: 0in">100</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Exculpatory Provisions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">100</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Reliance by Administrative Agent</TD>
    <TD STYLE="text-align: right; text-indent: 0in">102</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Delegation of Duties</TD>
    <TD STYLE="text-align: right; text-indent: 0in">102</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Non-Reliance on Administrative Agent and Other Lenders</TD>
    <TD STYLE="text-align: right; text-indent: 0in">102</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Resignation of Administrative Agent and Successor Administrative Agent</TD>
    <TD STYLE="text-align: right; text-indent: 0in">103</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">L/C Issuer and Swing Line Lender.</TD>
    <TD STYLE="text-align: right; text-indent: 0in">104</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Hedging Liability and Bank Product Liability Arrangements</TD>
    <TD STYLE="text-align: right; text-indent: 0in">104</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">No Other Duties; Designation of Additional Agents</TD>
    <TD STYLE="text-align: right; text-indent: 0in">104</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Authorization to Enter into, and Enforcement of, the Collateral Documents and Guaranty</TD>
    <TD STYLE="text-align: right; text-indent: 0in">105</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.12.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Administrative Agent May File Proofs of Claim</TD>
    <TD STYLE="text-align: right; text-indent: 0in">105</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;9.13.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Collateral and Guaranty Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">106</TD></TR>
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<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: 18%; padding-left: 27pt; text-indent: 0in">Section&nbsp;9.14.</TD>
    <TD STYLE="width: 74%; padding-left: 27pt; text-indent: 0in">Credit Bidding</TD>
    <TD STYLE="width: 8%; text-align: right; text-indent: 0in; vertical-align: bottom">107</TD></TR>
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    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps; vertical-align: bottom">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;10.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Miscellaneous</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps; vertical-align: bottom">107</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">&nbsp;</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Taxes</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">107</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Mitigation Obligations; Replacement of Lenders</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">111</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">No Waiver, Cumulative Remedies</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">112</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Non-Business Days</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">112</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Survival of Representations</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">113</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Survival of Indemnities</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">113</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Sharing of Payments by Lenders</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">113</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Notices; Effectiveness; Electronic Communication</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">114</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Successors and Assigns; Assignments and Participations</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">116</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Amendments</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">121</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Headings</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">122</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.12.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Expenses; Indemnity; Damage Waiver</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">122</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.13.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Set-off</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">124</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.14.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Governing Law, Jurisdiction, Etc.</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">125</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.15.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Severability of Provisions</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">126</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.16.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Excess Interest</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">126</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.17.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Construction</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">126</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.18.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Lender&rsquo;s and L/C Issuer&rsquo;s Obligations Several</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">127</TD></TR>
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    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 10.19.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">USA Patriot Act</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">127</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.20.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">127</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 10.21.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Treatment of Certain Information; Confidentiality</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">127</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 10.22.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Counterparts; Integration; Effectiveness</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">128</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;10.23.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">All Powers Coupled with Interest</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">128</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; font-variant: small-caps">Section&nbsp;11.</TD>
    <TD STYLE="text-indent: 0in; font-variant: small-caps">The Guarantees</TD>
    <TD STYLE="text-align: right; text-indent: 0in; font-variant: small-caps; vertical-align: bottom">129</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.1.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">The Guarantees</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">129</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.2.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Guarantee Unconditional</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">129</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.3.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Discharge Only upon Facility Termination Date; Reinstatement in Certain Circumstances</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">130</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.4.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Subrogation</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">130</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.5.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Subordination</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">131</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.6.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Waivers</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">131</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.7.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Limit on Recovery</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">131</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.8.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Stay of Acceleration</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">131</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.9.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Benefit to Guarantors</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">131</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section&nbsp;11.10.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Keepwell</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">132</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Section 11.11.</TD>
    <TD STYLE="padding-left: 27pt; text-indent: 0in">Guarantor Covenants</TD>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">132</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Signature Pages</TD>
    <TD></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">S-1</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 16%"><FONT STYLE="font-variant: small-caps">Exhibit</FONT>&nbsp;A</TD>
    <TD STYLE="width: 6%">&mdash;</TD>
    <TD STYLE="width: 78%">Notice of Payment Request</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit&nbsp;B</FONT></TD>
    <TD>&mdash;</TD>
    <TD>Notice of Borrowing</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit&nbsp;C</FONT></TD>
    <TD>&mdash;</TD>
    <TD>Notice of Continuation/Conversion</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT>&nbsp;D-1</TD>
    <TD>&mdash;</TD>
    <TD>Term Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT>&nbsp;D-2</TD>
    <TD>&mdash;</TD>
    <TD>Revolving Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT>&nbsp;D-3</TD>
    <TD>&mdash;</TD>
    <TD>Swing Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT>&nbsp;E</TD>
    <TD>&mdash;</TD>
    <TD>Compliance Certificate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit&nbsp;F</FONT></TD>
    <TD>&mdash;</TD>
    <TD>Assignment and Assumption</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit&nbsp;G</FONT></TD>
    <TD>&mdash;</TD>
    <TD>Additional Guarantor Supplement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit H</FONT></TD>
    <TD>&mdash;</TD>
    <TD>Borrowing Base Certificate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1</TD>
    <TD>&mdash;</TD>
    <TD>Commitments</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1-A</TD>
    <TD>&mdash;</TD>
    <TD>Capital Leases</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1-B</TD>
    <TD>&mdash;</TD>
    <TD>June 2016 EBITDA Calculations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 2.3</TD>
    <TD>&mdash;</TD>
    <TD>Existing Letters of Credit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.5</TD>
    <TD>&mdash;</TD>
    <TD>Litigation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.9</TD>
    <TD>&mdash;</TD>
    <TD>ERISA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT>&nbsp;5.10</TD>
    <TD>&mdash;</TD>
    <TD>Subsidiaries</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.16</TD>
    <TD>&mdash;</TD>
    <TD>Labor Relations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule&nbsp;</FONT>5.25</TD>
    <TD>&mdash;</TD>
    <TD>Material Agreements</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule&nbsp;</FONT>6.28</TD>
    <TD>&mdash;</TD>
    <TD>Post-Closing Matters</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Credit Agreement</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Credit Agreement
is entered into as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC, </FONT>a
Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach Holdings
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), and the direct and indirect Subsidiaries of
the Borrower<B> </B>from time to time party to this Agreement, as Guarantors, the various institutions from time to time party
to this Agreement, as Lenders, <FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation, as
Administrative Agent and L/C Issuer, <FONT STYLE="font-variant: small-caps">The PrivateBank and Trust Company, </FONT>as Co-Documentation
Agent and <FONT STYLE="font-variant: small-caps">Wheaton Bank &amp; Trust Company, a subsidiary of Wintrust Financial Corp.,</FONT>
as Co-Documentation Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower has requested,
and the Lenders have agreed to extend, certain credit facilities on the terms and conditions of this Agreement. In consideration
of the mutual agreements set forth in this Agreement, the parties to this Agreement agree as follows:</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions;
Interpretation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><I>Section&nbsp;1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions</I>.
The following terms when used herein shall have the following meanings:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Account Debtor&rdquo;</I>
means each Person obligated in any way on or in connection with an Account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Accounts&rdquo;</I>
means &ldquo;accounts&rdquo; as defined in the UCC, including all present and future accounts receivable and other rights of each
Loan Party to payment for goods sold or leased or for services rendered, which are not evidenced by instruments or chattel paper,
and whether or not they have been earned by performance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Acquired
Business&rdquo;</I> means the entity or assets acquired by the Borrower or another Loan Party in an Acquisition, whether before
or after the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Acquisition&rdquo;</I>
means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a)&nbsp;the
acquisition of all or substantially all of the assets of a Person, or of any business or division of a Person, (b)&nbsp;the acquisition
of in excess of 50% of the Ownership Interests of any Person (other than a Person that is a Subsidiary), or otherwise causing any
Person to become a Subsidiary, or (c)&nbsp;a merger or consolidation or any other combination with another Person (other than a
Person that is a Subsidiary), <I>provided</I> that the Borrower or another Loan Party is the surviving entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Adjusted
LIBOR&rdquo;</I> means, for any Borrowing of Eurodollar Loans, a rate per annum equal to the quotient of (a)&nbsp;LIBOR, divided
by (b)&nbsp;one minus the Reserve Percentage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Administrative
Agent&rdquo; </I>means Fifth Third Bank, an Ohio banking corporation, as contractual representative for itself and the other Lenders
and any successor in such capacity pursuant to Section&nbsp;9.7.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Administrative
Questionnaire&rdquo;</I> means, with respect to each Lender, an Administrative Questionnaire in a form supplied by the Administrative
Agent and duly completed by such Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Affiliate&rdquo;</I>
means any Person directly or indirectly controlling (including all stockholders, members, directors, partners, managers, and officers
of such Person) or controlled by, or under direct or indirect common control with, another Person. A Person shall be deemed to
control another Person for the purposes of this definition if such Person possesses, directly or indirectly, the power to direct,
or cause the direction of, the management and policies of the other Person, whether through the ownership of voting securities,
common directors, managers, trustees or officers, by contract or otherwise; <I>provided </I>that, in any event for purposes of
this definition, any Person that owns, directly or indirectly, 10% or more of the securities having the ordinary voting power for
the election of directors, managers or governing body of a corporation or 10% or more of the partnership or other ownership interest
of any other Person (other than as a limited partner of such other Person) will be deemed to control such corporation or other
Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Agreement&rdquo;</I>
means this Credit Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Amended and
Restated Senior Subordinated Loan Agreement&rdquo; </I>means that certain Amended and Restated Senior Subordinated Loan Agreement
dated as of November 23, 2004, by and among Borrower, the other borrowers named therein, F<I>d</I>G HVAC LLC, Marathon I, B.V.,
and the other financial institutions party thereto, as amended by that certain Amendment to Amended and Restated Senior Subordinated
Loan Agreement dated as of August 24, 2007, and as further amended by that certain Second Amendment to Amended and Restated Senior
Subordinated Loan Agreement dated March 30, 2010, and as further amended by that certain Third Amendment to Amended and Restated
Senior Subordinated Loan Agreement dated September 2, 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Applicable
Margin&rdquo;</I> means, with respect to Loans, Reimbursement Obligations, the commitment fees payable under Section&nbsp;2.13(a)
and L/C Participation Fees, until the first Pricing Date, the rates per annum shown opposite Level&nbsp;II below, and thereafter
from one Pricing Date to the next the Applicable Margin means the rates per annum determined in accordance with the following schedule:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Level</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Senior Leverage<BR> Ratio for <BR> such Pricing
    Date</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin for<BR> Base Rate
    Loans and<BR> Reimbursement<BR> Obligations shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin for<BR> Eurodollar
    Loans and<BR> &nbsp;L/C Participation Fees<BR> shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin<BR> for commitment<BR>
    fee shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 8%; text-align: center; vertical-align: top">I</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%; text-align: left">Greater than or equal to 2.50 to 1.00</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">3.00</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">4.00</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">0.50</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top">II</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.75</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.75</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top">III</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Level</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Senior Leverage<BR> Ratio for <BR> such Pricing
    Date</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin for<BR> Base Rate
    Loans and<BR> Reimbursement<BR> Obligations shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin for<BR> Eurodollar
    Loans and<BR> &nbsp;L/C Participation Fees<BR> shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Applicable Margin<BR> for commitment<BR>
    fee shall be:</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 8%; text-align: center">IV</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%; text-align: left">Less than 1.50 to 1.00</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">2.25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">3.25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">0.50</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes hereof, the term <I>&ldquo;Pricing
Date&rdquo;</I> means, for any fiscal quarter of the Borrower ending on or after September 30, 2016, the date on which the Administrative
Agent is in receipt of the Borrower&rsquo;s most recent financial statements (and, in the case of the year-end financial statements,
audit report) for the fiscal quarter then ended, pursuant to Section&nbsp;6.1. The Applicable Margin shall be established based
on the Senior Leverage Ratio for the most recently completed fiscal quarter and the Applicable Margin established on a Pricing
Date shall remain in effect until the next Pricing Date. If the Borrower has not delivered its financial statements by the date
such financial statements (and, in the case of the year-end financial statements, audit report) are required to be delivered under
Section&nbsp;6.1, until such financial statements and audit report are delivered, the Applicable Margin shall be the highest Applicable
Margin (<I>i.e.,</I> the Senior Leverage Ratio shall be deemed to be greater than or equal to 2.50 to 1.00). If the Borrower subsequently
delivers such financial statements before the next Pricing Date, the Applicable Margin established by such late delivered financial
statements shall take effect from the date of delivery until the next Pricing Date. In all other circumstances, the Applicable
Margin established by such financial statements shall be in effect from the Pricing Date that occurs immediately after the end
of the fiscal quarter covered by such financial statements until the next Pricing Date. Each determination of the Applicable Margin
made by the Administrative Agent in accordance with the foregoing shall be conclusive and binding on the Borrower and the Lenders
absent manifest error. Notwithstanding the foregoing, if, as a result of any restatement of or other adjustment to the financial
statements of the Borrower or for any reason, the Lenders determine that (a) Senior&nbsp;Leverage Ratio as calculated on any Pricing
Date was inaccurate and (b)&nbsp;a proper calculation of Senior Leverage Ratio would have resulted in a higher Applicable Margin
for any period, then the Borrower shall automatically and retroactively be obligated to pay to the Administrative Agent for the
benefit of the Lenders, promptly on demand by the Administrative Agent, an amount equal to the excess of the amount of interest
and fees that should have been paid for such period over the amount of interest and fees actually paid for such period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Application&rdquo;</I>
is defined in Section&nbsp;2.3(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Approved
Fund&rdquo;</I> means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise
investing in commercial loans and similar extensions of credit in the ordinary course of its business and that is administered
or managed by (a)&nbsp;a Lender, (b)&nbsp;an Affiliate of a Lender or (c)&nbsp;an entity or an Affiliate of an entity that administers
or manages a Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Assignment
and Assumption&rdquo;</I> means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section&nbsp;10.9(b)(iii)), and accepted by the Administrative Agent, in substantially
the form of Exhibit&nbsp;F&nbsp;or any other form approved by the Administrative Agent.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Authorized
Representative&rdquo;</I> means those persons shown on the list of officers provided by the Borrower pursuant to Section&nbsp;3.2
or on any update of any such list provided by the Borrower to the Administrative Agent, or any further or different officers of
the Borrower so named by any Authorized Representative of the Borrower in a written notice to the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bank Products&rdquo;</I>
means each and any of the following bank products and services provided to any Loan Party by any Lender or any of its Affiliates:
(a)&nbsp;credit cards for commercial customers (including &ldquo;commercial credit cards&rdquo; and purchasing cards), (b)&nbsp;stored
value cards, and (c)&nbsp;depository, cash management, and treasury management services (including controlled disbursement, automated
clearinghouse transactions, return items, overdrafts and interstate depository network services).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bank Product
Liability&rdquo;</I> of the Loan Parties means any and all of their obligations, whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions
therefor) in connection with Bank Products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Base Rate&rdquo;</I>
means for any day, the rate per annum equal to the greatest of: (a)&nbsp;the rate of interest announced by Fifth Third Bank, an
Ohio banking corporation, from time to time as its &ldquo;prime rate&rdquo; as in effect on such day, with any change in the Base
Rate resulting from a change in said prime rate to be effective as of the date of the relevant change in said prime rate (it being
acknowledged that such rate may not be the Administrative Agent&rsquo;s best or lowest rate), (b)&nbsp;the sum of (i)&nbsp;the
Federal Funds Rate, <I>plus</I> (ii)&nbsp;.50% and (c) the sum of (i) the Adjusted LIBOR that would be applicable to a Eurodollar
Loan with a 1 month Interest Period advanced on such day (or if such day is not a Business Day, the immediately preceding Business
Day), <I>plus </I>(ii) 1.00%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Base Rate
Loan&rdquo;</I> means a Loan bearing interest at a rate specified in Section&nbsp;2.4(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bonding Agreements&rdquo;
</I>is defined in Section 5.24(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bonding Company&rdquo;
</I>means Travelers Casualty and Surety Company of America, a<B> </B>Connecticut<B> </B>corporation, or any other nationally recognized
bonding company reasonably satisfactory to the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bonds&rdquo;</I>
means, collectively, all bonds issued by the Bonding Company pursuant to the Bonding Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrower&rdquo;</I>
is defined in the introductory paragraph of this Agreement.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrowing&rdquo;</I>
means the total of Loans of a single type advanced, continued for an additional Interest Period, or converted from a different
type into such type by the Lenders under a Credit on a single date and, in the case of Eurodollar Loans, for a single Interest
Period. Borrowings of Loans are made and maintained ratably from each of the Lenders under a Credit according to their Percentages
of such Credit. A Borrowing is <I>&ldquo;advanced&rdquo;</I> on the day Lenders advance funds comprising such Borrowing to the
Borrower, is <I>&ldquo;continued&rdquo;</I> on the date a new Interest Period for the same type of Loans commences for such Borrowing,
and is <I>&ldquo;converted&rdquo;</I> when such Borrowing is changed from one type of Loans to the other, all as requested by the
Borrower pursuant to Section&nbsp;2.5(a). Borrowings of Swing Loans are made by the Administrative Agent in accordance with the
procedures set forth in Section&nbsp;2.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrowing
Base&rdquo;</I> means, as of any date, without duplication, an amount equal to (a) eighty percent (80%) of the face amount (less
discounts, credits, Retainages and allowances which have knowingly been taken by or granted to Account Debtors in connection therewith)
of all existing Eligible Accounts that are set forth in the Schedule of Accounts then most recently delivered by the Borrower to
the Administrative Agent, <I>minus</I> (b) the Term Loan Reserve and any other reserves established by the Administrative Agent
from time to time pursuant to Section 2.2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrowing
Base Availability&rdquo;</I> means, as of any time the same is to be determined, the amount (if any) by which (a)&nbsp;the Borrowing
Base as then determined and computed exceeds (b)&nbsp;the aggregate principal amount of Revolving Loans, Swing Loans, and L/C Obligations
then outstanding (other than L/C Obligations that are Cash Collateralized).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrowing
Base Certificate</I>&rdquo; means a certificate, substantially in the form of Exhibit&nbsp;H, which has been completed and duly
executed by the Chief Financial Officer of the Borrower.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Business
Day&rdquo;</I> means any day (other than a Saturday or Sunday) on which banks are not authorized or required to close in Cincinnati,
Ohio and, if the applicable Business Day relates to the advance or continuation of, or conversion into, or payment of a Eurodollar
Loan, on which banks are dealing in U.S. Dollar deposits in the interbank eurodollar market in London, England.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capital Expenditures&rdquo;</I>
means, with respect to any Person for any period, the aggregate amount of all expenditures (whether paid in cash or accrued as
a liability) by such Person during that period for the acquisition or leasing (pursuant to a Capital Lease) of fixed or capital
assets or additions to property, plant, or equipment (including replacements, capitalized repairs, and improvements) which should
be capitalized on the balance sheet of such Person in accordance with GAAP excluding (i)&nbsp;expenditures made in connection with
the replacement, substitution, restoration or repair of assets to the extent financed with (x)&nbsp;insurance proceeds paid on
account of the loss or damage to the assets being replaced, restored or repaired or (y)&nbsp;awards of compensation arising from
the taking by eminent domain or condemnation of the assets being replaced, (ii)&nbsp;that portion of the gross purchase price of
equipment that is purchased simultaneously with the trade-in of existing equipment that represents the credit granted by the seller
of such equipment for the equipment being traded in at such time, or (iii)&nbsp;the purchase of assets that would otherwise constitute
Capital Expenditures to the extent financed with the proceeds of any Disposition permitted hereunder. Notwithstanding anything
herein to the contrary, (x) vehicle leases entered into in the ordinary course of business shall not constitute Capital Expenditures
and (y) Permitted Acquisitions of all or substantially all of the assets of a Person shall not constitute Capital Expenditures.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capital Lease</I>&rdquo;
means any lease of Property which in accordance with GAAP is required to be capitalized on the balance sheet of the lessee; <I>provided</I>
that, no operating lease shall constitute a Capital Lease by virtue of a change in GAAP occurring after the Closing Date. Each
Capital Lease in effect on the Closing Date is set forth on Schedule 1-A attached hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capitalized
Lease Obligation&rdquo;</I> means, for any Person, the amount of the liability shown on the balance sheet of such Person in respect
of a Capital Lease determined in accordance with GAAP.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Cash Collateral&rdquo;</I>
shall have a meaning correlative to the cash or deposit account balances referred to in the definition of Cash Collateralize set
forth in this Section&nbsp;1.1 and shall include the proceeds of such cash collateral and other credit support.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Cash Collateralize&rdquo;</I>
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Administrative Agent,
the L/C Issuer, the Swing Line Lender, and the Lenders, as collateral for L/C Obligations, obligations in respect of Swing Loans,
or obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account
balances or, if the L/C Issuer or Swing Line Lender benefiting from such collateral shall agree in its sole discretion, other credit
support, in each case pursuant to documentation in form and substance satisfactory to (a)&nbsp;the Administrative Agent and (b)
the L/C Issuer or the Swing Line Lender, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Cash Equivalents&rdquo;</I>
means, as to any Person: (a)&nbsp;investments in direct obligations of, or fully guaranteed by, the United States of America or
of any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of
America, <I>provided</I> that any such obligations shall mature within one year of the date of acquisition thereof; (b)&nbsp;investments
in commercial paper rated at least P-1 by Moody&rsquo;s or at least A-1 by S&amp;P (or, if at any time neither Moody&rsquo;s or
S&amp;P shall be rating such obligations, an equivalent rating from another nationally recognized rating service) maturing within
one year of the date of issuance thereof; (c)&nbsp;certificates of deposit or bankers&rsquo; acceptances maturing within one year
from the date of acquisition thereof and issued or accepted by any Lender or by any commercial bank organized under the laws of
the United States of America or any state thereof or the District of Columbia that (i) is at least &ldquo;adequately capitalized&rdquo;
(as defined in the regulations of its primary federal banking regulator) and (ii) has Tier 1 capital (as defined in such regulations)
of not less than $100,000,000; (d)&nbsp;investments in repurchase obligations with a term of not more than seven (7)&nbsp;days
for underlying securities of the types described in clause&nbsp;(a) above entered into with any bank meeting the qualifications
specified in clause&nbsp;(c) above, provided all such agreements require physical delivery of the securities securing such repurchase
agreement, except those delivered through the Federal Reserve Book Entry System; and (e) marketable short-term money market or
similar securities having a rating of at least P-2 by Moody&rsquo;s or A-2 by S&amp;P (or, if at any time neither Moody&rsquo;s
or S&amp;P shall be rating such obligations, an equivalent rating from another nationally recognized rating service).</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Change in
Law&rdquo;</I> means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect
of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation,
implementation or application thereof by any Governmental Authority, or (c) the making or issuance of any request, rule, guideline
or directive (whether or not having the force of law) by any Governmental Authority; <I>provided</I>, that notwithstanding anything
herein to the contrary, (x)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations,
guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or
the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a &ldquo;Change
in Law&rdquo;, regardless of the date enacted, adopted or issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Change of
Control&rdquo;</I> means any of (a)&nbsp;the acquisition by any <I>&ldquo;person&rdquo;</I> or <I>&ldquo;group&rdquo;</I> (as such
terms are used in sections&nbsp;13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) (other than Permitted Holders)
at any time of beneficial ownership of fifty percent (50%) or more of the outstanding Ownership Interests of Limbach, Inc. on a
fully-diluted basis; (b) Limbach, Inc. shall fail to own one hundred percent (100%) of the Ownership Interests of the Parent, (c)
the Parent shall fail to own one hundred percent (100%) of the Ownership Interests of the Borrower or any of its other Subsidiaries;
(d) the Borrower shall fail to own, directly or indirectly, one hundred percent (100%) of the Ownership Interests of any of its
Subsidiaries that are Guarantors or that are required to be Guarantors under this Agreement, (e) during any period of twelve (12)
consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease
to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period,
(ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause
(i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to
in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent
governing body; or (f)&nbsp;any &ldquo;Change of Control&rdquo; (or words of like import), as defined in any agreement or indenture
relating to any issue of Material Indebtedness (including the Mezzanine Subordinated Debt) of any Loan Party shall occur.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Closing Date&rdquo;</I>
means the date of this Agreement or such later Business Day upon which each condition described in Section&nbsp;3.2 shall be satisfied
or waived in a manner acceptable to the Administrative Agent in its discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Code&rdquo;</I>
means the Internal Revenue Code of 1986, or any successor statute thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral&rdquo;</I>
means all properties, rights, interests, and privileges from time to time subject to the Liens granted to the Administrative Agent,
or any security trustee therefor, by the Collateral Documents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral
Access Agreement&rdquo;</I> means any landlord waiver, warehouse, processor or other bailee letter or other agreement, in form
and substance satisfactory to the Administrative Agent, between the Administrative Agent and any third party (including any bailee,
consignee, customs broker, or other similar Person) in possession of any Collateral or any landlord of the Borrower or any Subsidiary
for any real property where any Collateral is located, as such landlord waiver, bailee letter or other agreement may be amended,
restated, or otherwise modified from time to time.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral
Account&rdquo;</I> is defined in Section&nbsp;4.5(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral
Documents&rdquo; </I>means the Mortgages, the Security Agreement, and all other security agreements, pledge agreements, control
agreements, assignments, financing statements and other documents pursuant to which Liens are granted to the Administrative Agent
by the Loan Parties or such Liens are perfected, and as shall from time to time secure or relate to the Secured Obligations or
any part thereof, but not including any Hedge Agreements or agreements governing Bank Product Liabilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral
Report&rdquo; </I>means a Schedule of Accounts and a Schedule of Retainage, each as of the last day of the immediately preceding
month and in form and substance reasonably satisfactory to the Lender, and a duly completed collateral report/borrowing base certificate
in form and substance satisfactory to the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Commitments&rdquo;</I>
means the Revolving Credit Commitments and the Term Loan Commitments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Commodity
Exchange Act</I>&rdquo; means the Commodity Exchange Act (7 U.S.C. &sect; 1 et seq.).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Communications&rdquo;
</I>is defined in Section 10.8(d)(ii).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Connection
Income Taxes&rdquo;</I> means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Contingent
Obligation&rdquo;</I> means as to any Person, any obligation of such Person guaranteeing or intended to guarantee any Indebtedness
(<I>&ldquo;primary obligations&rdquo;</I>) of any other Person (the <I>&ldquo;primary obligor&rdquo;</I>) in any manner, whether
directly or indirectly, including, any obligation of such Person, whether or not contingent, (a)&nbsp;to purchase any such primary
obligation or any Property constituting direct or indirect security therefor, (b)&nbsp;to advance or supply funds (i)&nbsp;for
the purchase or payment of any such primary obligation or (ii)&nbsp;to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c)&nbsp;to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to
make payment of such primary obligation or (d)&nbsp;otherwise to assure or hold harmless the holder of such primary obligation
against loss in respect thereof; <I>provided, however,</I> that the term Contingent Obligation shall not include endorsements of
instruments for deposit or collection in the ordinary course of business or entered into in the ordinary course of business in
connection with any contractual arrangement, including any Acquisition, Capital Expenditure, Investment or disposition of assets
permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Contingent Obligation
shall be deemed to be the amount required to be reflected on the financial statements of a Person determined in accordance with
GAAP.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Controlled
Group&rdquo;</I> means all members of a controlled group of corporations, limited liability companies, partnerships and all trades
or businesses (whether or not incorporated) under common control which, together with any Loan Party, are treated as a single employer
under Section&nbsp;414(b) or (c) of the Code and, for purposes of Section 302 of ERISA and Section 412 of the Code, under Section
414(b), (c), (m), and (o) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Credit&rdquo;</I>
means any of the Revolving Credit and the Term Credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Credit Event&rdquo;</I>
means the advancing of any Loan, the continuation of or conversion into a Eurodollar Loan (but excluding an advance of a Loan made
for the purpose of repaying Swing Loans or paying unpaid Reimbursement Obligations), or the issuance of, or extension of the expiration
date or increase in the amount of, any Letter of Credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Damages&rdquo;</I>
means all damages, including punitive damages (if payable to a third party), liabilities, costs, expenses, losses, judgments, fines,
penalties, demands, claims, cost recovery actions, lawsuits, administrative proceedings, orders, response action, removal and remedial
costs, compliance costs, investigation expenses, consultant fees, attorneys&rsquo; and paralegals&rsquo; fees and litigation expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Debtor Relief
Laws&rdquo;</I> means the United States Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for
the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of
the United States of America or other applicable jurisdictions from time to time in effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Default&rdquo;</I>
means any event or condition the occurrence of which would, with the passage of time or the giving of notice, or both, constitute
an Event of Default.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Defaulting
Lender&rdquo; </I>means, subject to Section 8.6(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans
within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative
Agent and the Borrower in writing that such failure is the result of such Lender&rsquo;s determination that one or more conditions
precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified
in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer, Swing Line Lender or any other
Lender any other amount required to be paid by it hereunder (including in respect of its Loans or participation in Letters of Credit
or Swing Loans) within two (2) Business Days of the date required to be funded by it hereunder, (b) has notified the Borrower,
the Administrative Agent, the L/C Issuer or the Swing Line Lender in writing that it does not intend to comply with its funding
obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender&rsquo;s
obligation to fund a Loan hereunder and states that such position is based on such Lender&rsquo;s determination that a condition
precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such
writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the
Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with
its prospective funding obligations hereunder (<I>provided</I> that such Lender shall cease to be a Defaulting Lender pursuant
to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has
a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed
for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged
with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other
state or federal regulatory authority acting in such a capacity; <I>provided</I> that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity
from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets
or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made
with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through
(d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject
to Section 8.6(b)) upon delivery of written notice of such determination to the Borrower, the L/C Issuer, and each Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Disposition&rdquo;</I>
means the sale, lease, conveyance or other disposition of Property, other than sales or other dispositions expressly permitted
under Sections 6.13(a) or 6.13(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Disproportionate
Advance&rdquo;</I> is defined in Section&nbsp;2.5(e).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Dollars&rdquo;</I>
and <I>&ldquo;$&rdquo;</I> each means the lawful currency of the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Duly Authorized
Officer&rdquo; </I>means the President, Chief Executive Officer, the Chief Financial Officer, any Vice-President, the Treasurer
(if at any time applicable), and the Secretary of each Loan Party, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;EBITDA&rdquo;</I>
means, with reference to any period, Net Income for such period <I>plus</I>, without duplication, the sum of all amounts deducted
in arriving at such Net Income amount in respect of (a)&nbsp;Interest Expense for such period, (b)&nbsp;federal, state, and local
income taxes for such period, (c)&nbsp;depreciation of fixed assets and amortization of intangible assets for such period, (d)
transaction expenses incurred during such period in connection with Permitted Acquisitions, whether or not consummated, not to
exceed $50,000 in the aggregate during such period, (e) all fees and expenses paid in cash by the Borrower and its Subsidiaries
during such period and paid on or before that date occurring six months after the Closing Date in connection with this Agreement
and the Related Transactions in an aggregate amount not to exceed $2,500,000 and (f) losses or other charges related to Legacy
Claims during such period in an amount not to exceed $500,000 during such period and in an aggregate amount not to exceed $2,500,000
during the term of this Agreement; <I>provided</I> that, for each fiscal quarter ending on the dates set forth below, &ldquo;EBITDA&rdquo;
shall be equal to the corresponding amount set forth below for each such respective quarter and EBITDA for the fiscal quarter ending
June 30, 2016 shall mean the actual EBITDA for the period then ending calculated in accordance with the foregoing definition plus
the amounts set forth on Schedule 1-B:</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: justify; text-indent: 0in">September 30, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 20%; text-align: right">3,346,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: 0in">December 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,068,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: 0in">March 31, 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,311,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Eligible
Accounts&rdquo;</I> means those Accounts of each of the Loan Parties as to which the Administrative Agent has a first priority
perfected Lien (subject only to any common law rights of the Bonding Company therein), that comply with all of the representations
and warranties made to the Administrative Agent and the Lenders under this Agreement and the other Loan Documents; <I>provided</I>,
that the following Accounts of the Loan Parties are not Eligible Accounts:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
which remain unpaid more than ninety (90) calendar days from the invoice date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the Account Debtor is a director, officer, employee, equity holder, or Affiliate of any Loan Party, including
any Account Debtor of which an officer, director or employee is a holder of equity in any Loan Party;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the Account Debtor is not a resident of the United States or Canada or who is not subject to service of process
within the continental United States or Canada, unless such Accounts are supported by irrevocable letters of credit or other credit
support in amount and on terms reasonably satisfactory to the Administrative Agent, the proceeds of which are assigned to the Administrative
Agent in a manner reasonably satisfactory to the Administrative Agent, each in the Administrative Agent&rsquo;s sole determination;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
in dispute (but only to the extent of such disputed amount) or with respect to which the Account Debtor has asserted, or any Loan
Party or the Administrative Agent has reason to believe the Account Debtor is entitled to assert, a counterclaim or right of setoff
(but only to the extent of such counterclaim or setoff amount);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the prospect of payment or performance by the Account Debtor is or will be impaired, as determined by the
Administrative Agent in the exercise of its Permitted Discretion;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
that are not valid, legally enforceable obligations of the Account Debtor thereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment
for the benefit of creditors or whose assets have been conveyed to a receiver or trustee (other than post petition accounts payable
of an Account Debtor that is a debtor-in-possession under the United States Bankruptcy Code);</P>

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


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the Account Debtor&rsquo;s obligation to pay the Account is conditional upon the Account Debtor&rsquo;s approval
or is otherwise subject to any repurchase obligation or return right, as with sales made on a bill-and-hold, guaranteed sale, sale-and-return,
sale on approval or consignment basis;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
which arise out of sales not made in the ordinary course of the applicable Loan Party&rsquo;s business;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Account with respect to which the Account Debtor has returned to the applicable Loan Party twenty percent (20%) or more of the
Inventory of the applicable Loan Party the sale of which gave rise to such Account,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which any document or agreement executed or delivered in connection therewith, or any procedure used in connection
with any such document or agreement, fails in any material respect to comply with the requirements of applicable law, or with respect
to which any representation or warranty contained in this Agreement is untrue or misleading in any material respect;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which any Loan Party is or may become liable to the Account Debtor for goods sold or services rendered by the Account
Debtor to such Loan Party, to the extent of the Loan Parties&rsquo; existing or potential liability to such Account Debtor;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
which, if evidenced by chattel paper or an instrument, the originals of such chattel paper or instrument have not been endorsed
and/or assigned and delivered to the Administrative Agent, or in the case of electronic chattel paper, are not in the control of
the Administrative Agent, in each case in a manner reasonably satisfactory to the Administrative Agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any Loan Party maintains a credit limit for an Account Debtor, any Account owed by such Account Debtor to the extent that it exceeds
such credit limit;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to which the possession and/or control of the goods sold giving rise thereto is held, maintained or retained by any
Loan Party for the account of, or subject to, further and/or future direction from the Account Debtor with respect thereto;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
with respect to an Account Debtor that is located in any jurisdiction that has adopted a statute or other requirement with respect
to which any Person that obtains business from within such jurisdiction must file a notice of business activities report or make
any other required filings in a timely manner in order to enforce its claims in such jurisdiction&rsquo;s courts unless (i) such
notice of business activities report has been duly and timely filed or the applicable Loan Party is exempt from filing such report
and the Borrower has provided the Administrative Agent with satisfactory evidence of such exemption or (ii) the failure to make
such filings may be cured retroactively by the Borrower for a nominal fee;</P>

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


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
that arise out of a contract or order which, by its terms, forbids or makes void or unenforceable the assignment thereof by the
applicable Loan Party to the Administrative Agent or may be unassignable for any other reason;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
which are subject to any counterclaim, credit, trade or volume discount, allowance, discount, rebate or adjustment by the Account
Debtor with respect thereto (but only to the extent of such counterclaim, credit, discount, allowance, rebate or adjustment);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
in which the Administrative Agent (for the benefit of the Lenders) does not have a valid and enforceable first priority perfected
security interest (subject only to any common law rights of the Bonding Company therein); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is
an Account that is otherwise determined by the Administrative Agent in its Permitted Discretion to be ineligible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the
foregoing, all Accounts owed by an Account Debtor will not be Eligible Accounts if, with respect to such Account Debtor, twenty-five
percent (25%) or more of the aggregate amount of outstanding Accounts owed at such time by such Account Debtor with respect to
a specific job or project only (and not all jobs and projects with such Account Debtor) are not Eligible Accounts solely with respect
to clause (a) of this definition; <I>provided</I> that, notwithstanding this additional eligibility condition (the &ldquo;<I>Additional
Eligibility Condition</I>&rdquo;), up to $2.0 million of such Accounts, which are also not unpaid for more than one-hundred twenty
(120) calendar days past the original invoice date therefore, may be Eligible Accounts if they would be eligible but for the Additional
Eligibility Condition; <I>provided further</I> that, notwithstanding the foregoing proviso, the eligibility of all Accounts that
do not satisfy the Additional Eligibility Condition shall end on May 31, 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any Account which is
at any time an Eligible Account but which subsequently fails to meet any of the foregoing requirements shall forthwith cease to
be an Eligible Account, and further, with respect to any Account, if the Administrative Agent at any time hereafter determines
in its Permitted Discretion that the prospect of payment or performance by the Account Debtor with respect thereto is materially
impaired for any reason whatsoever, such Account shall cease to be an Eligible Account after notice of such determination is given
to the Borrower.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the avoidance of
doubt, any Account which is bonded under a Bonding Agreement shall be an Eligible Account so long as it meets all of the foregoing
requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Eligible
Assignee&rdquo;</I> means any Person that meets the requirements to be an assignee under Section&nbsp;10.9(b)(iii), 10.9(b)(v)
and 10.9(b)(vi) (subject to such consents, if any, as may be required under Section&nbsp;10.9(b)(iii)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Environmental
Claim&rdquo; </I>means any investigation, notice of violation, demand, allegation, action, suit, injunction, judgment, order, consent
decree, penalty, fine, lien, proceeding or claim (whether administrative, judicial or private in nature) arising pursuant to or
in connection with: (a)&nbsp;an actual or alleged violation of any Environmental Law, (b)&nbsp;any Hazardous Material, (c)&nbsp;any
actual or threatened abatement, removal, investigation, remediation or corrective or response action required by Environmental
Laws or a any Governmental Authority, or (d)&nbsp;any actual or alleged damage, injury, threat or harm to human health, safety
natural resources or the environment.</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Environmental
Law&rdquo;</I> means any applicable Legal Requirement pertaining to (a)&nbsp;the protection, conservation, use or management of
the environment, human health and safety, natural resources and wildlife, (b)&nbsp;the protection or use of surface water or groundwater,
(c)&nbsp;the management, manufacture, possession, presence, use, generation, transportation, treatment, storage, disposal, Release,
threatened Release, investigation, abatement, removal, remediation or handling of, or exposure to, any Hazardous Material, or (d)
any Release of Hazardous Materials to air, land, surface water or groundwater, and any amendment, rule, regulation, order or directive
issued thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;ERISA&rdquo;</I>
means the Employee Retirement Income Security Act of 1974.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;ERISA Event&rdquo;</I>
means (a) a reportable event as described in Section 4043(c) of ERISA (unless the 30-day notice requirement has been waived under
applicable regulations) with respect to a Plan; (b) the withdrawal of the Loan Party or any member of its Controlled Group from
a Plan subject to Section 4063 of ERISA during a plan year in which such entity was a &ldquo;substantial employer&rdquo; as defined
in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA;
(c) a complete or partial withdrawal by the Loan Party or any member of its Controlled Group from a Multiemployer Plan or notification
that a Multiemployer Plan is in reorganization; (d) the filing of a notice of reorganization, insolvency or termination (or the
treatment of a plan amendment as a termination) under Section 4041 or 4041A of ERISA; (e) the termination of a Plan or the filing
of a notice to terminate a Plan under Section 4041(c) of ERISA; (f) the institution by the PBGC of proceedings to terminate a Plan;
(g) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Plan; (h) the determination that any Plan is considered an at-risk plan within the meaning of Section
430 of the Code or Section 303 of ERISA; (i) the determination that any Multiemployer Plan is in critical or at-risk status within
the meaning of Section 432 of the Code or Section 305 of ERISA; (j) the imposition of any liability under Title IV of ERISA, other
than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Loan Party or any member of its Controlled
Group; or (k) a failure by the Loan Party or any member of its Controlled Group to meet all applicable requirements regarding minimum
required contributions set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA
in respect of a Plan, whether or not waived, or the failure by the Loan Party or any member of its Controlled Group to make any
required contribution to a Multiemployer Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Eurodollar
Loan&rdquo;</I> means a Loan bearing interest at the rate specified in Section&nbsp;2.4(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Event of
Default&rdquo;</I> means any event or condition identified as such in Section&nbsp;7.1.</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Event of
Loss&rdquo;</I> means, with respect to any Property, any of the following: (a)&nbsp;any loss, destruction or damage of such Property
or (b)&nbsp;any condemnation, seizure, or taking, by exercise of the power of eminent domain or otherwise, of such Property, or
confiscation of such Property or the requisition of the use of such Property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excess Availability&rdquo;</I>
means, as of any time the same is to be determined, the amount (if any) by which (a) the lesser of (i)&nbsp;the Revolving Credit
Commitments of all Lenders as then in effect, and (ii) the Borrowing Base as then determined and computed exceeds (b) the aggregate
principal amount of Revolving Loans, Swing Loans, and L/C Obligations then outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excess Cash
Flow&rdquo;</I> means, with respect to any period, the amount (if any) by which (a)&nbsp;EBITDA (without giving effect to any <I>pro
forma </I>adjustments made pursuant to the definition of Net Income) during such period exceeds (b)&nbsp;the sum (without duplication)
of (i) the aggregate amount of payments (including voluntary prepayments of the Term Loans) actually made by the Borrower and its
Subsidiaries during such period in respect of all principal on all Indebtedness (whether at maturity, as a result of mandatory
sinking fund redemption, mandatory prepayment, acceleration or otherwise, but excluding payments made on the Revolving Credit),
<I>plus</I> (ii) the aggregate amount of Capital Expenditures made by the Borrower and its Subsidiaries during such period and
not financed with proceeds of Indebtedness (but excluding credit extended under the Revolving Credit), <I>plus</I> (iii) the aggregate
amount of all federal, state and local taxes paid in cash with respect to such period, <I>plus</I> (iv) the aggregate amount of
Interest Expense for such period paid in cash, <I>plus </I>(v) the cash portion of any Restricted Payments for such period, including
Tax Distributions, to the extent permitted to be made under this Agreement, <I>plus </I>(vi) the cash portion of any Legacy Claims
during such period in an aggregate amount not to exceed $500,000 during such period and in an aggregate amount not to exceed $2,500,000
during the term of this Agreement, <I>plus </I>(vii) transaction expenses paid in cash during such period in connection with Permitted
Acquisitions, whether or not consummated, not to exceed $50,000 in the aggregate during such period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Excess Interest</I>&rdquo;
is defined in Section 10.16.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excluded
Deposit Account&rdquo; </I>means a deposit account the balance of which consists exclusively of (and is identified when established
as an account established solely for the purposes of) (a)&nbsp;withheld income Taxes and federal, state, local or foreign employment
Taxes in such amounts as are required in the reasonable judgment of a Loan Party to be paid to the Internal Revenue Service or
any other U.S., federal, state or local or foreign government agencies within the following month with respect to employees of
such Loan Party, (b)&nbsp;amounts required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec.&nbsp;2510.3-102
on behalf of or for the benefit of employees of any Loan Party, (c)&nbsp;amounts which are required to be pledged or otherwise
provided as security pursuant to any requirement of any Governmental Authority or foreign pension requirement, (d)&nbsp;amounts
to be used to fund payroll obligations (including, but not limited to, amounts payable to any employment contracts between any
Loan Party and their respective employees), and (e)&nbsp;other deposit accounts maintained in the ordinary course of business containing
cash amounts that do not exceed at any time $50,000 for any such account and $100,000 in the aggregate for all such accounts under
this clause&nbsp;(e), unless requested by the Administrative Agent.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Excluded
Equity Issuances</I>&rdquo; means the issuance by any Subsidiary of equity securities to the Borrower or any Guarantor, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excluded
Property&rdquo; </I>means (a)&nbsp;any fee-owned real property with a fair market value of less than $250,000, unless requested
by the Administrative Agent; (b)&nbsp;any leased real property with a fair market value of less than $250,000, unless requested
by the Administrative Agent; (c)&nbsp;any goods<B> </B>securing purchase money indebtedness or Capitalized Lease Obligations if
the granting of a Lien to any third party is prohibited by the agreement(s) setting forth the terms and conditions applicable to
such Indebtedness, but only if such Indebtedness and the Liens securing the same are permitted by Sections&nbsp;6.11(d) and 6.12(e)
of the Credit Agreement; <I>provided </I>that if and when the prohibition which prevents the granting of a Lien in any such Property
is removed, terminated or otherwise becomes unenforceable as a matter of law (including, without limitation, the termination of
any such security interest resulting from the satisfaction of the Indebtedness secured thereby), and notwithstanding any previous
release of Lien provided by the Administrative Agent requested in connection with respect to any such Indebtedness, the Excluded
Property will no longer include such Property and the Administrative Agent will be deemed to have, and at all times to have had,
a security interest in such property and the Collateral will be deemed to include, and at all times to have included, such Property
without further action or notice by any Person; (d)&nbsp;any permit or license issued to any Loan Party as the permit holder or
licensee thereof or any lease to which any Loan Party is lessee thereof, in each case only to the extent and for so long as the
terms of such permit, license, or lease effectively (after giving effect to Sections 9-406 through 9-409, inclusive, of the Uniform
Commercial Code in the applicable state (or any successor provision or provisions) or any other applicable law) prohibit the creation
by such Loan Party of a security interest in such permit, license, or lease in favor of the Administrative Agent or would result
in an effective invalidation, termination or breach of the terms of any such permit, license or lease (after giving effect to Sections
9-406 through 9-409, inclusive, of the Uniform Commercial Code in the applicable state (or any successor provision or provisions)
or any other applicable law), in each case unless and until any required consents are obtained; <I>provided</I> that the Excluded
Property will not include, and the Collateral shall include and the security interest granted in the Collateral shall attach to,
(x)&nbsp;all proceeds, substitutions or replacements of any such excluded items referred to herein unless such proceeds, substitutions
or replacements would constitute excluded items hereunder, (y)&nbsp;all rights to payment due or to become due under any such excluded
items referred to herein, and (z)&nbsp;if and when the prohibition which prevents the granting of a security interest in any such
Property is removed, terminated, or otherwise becomes unenforceable as a matter of law, the Administrative Agent will be deemed
to have, and at all times to have had, a security interest in such property, and the Collateral will be deemed to include, and
at all times to have included, such Property without further action or notice by any Person; (e)&nbsp;Excluded Deposit Accounts
and (f) Ownership Interests in any Special Purpose Joint Venture to the extent prohibited by its Organization Documents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Excluded
Swap Obligation</I>&rdquo; means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion
of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or
any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity
Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor&rsquo;s failure
for any reason not to constitute an &ldquo;eligible contract participant&rdquo; as defined in the Commodity Exchange Act and the
regulations thereunder at the time the Guarantee of such Guarantor or the grant of such security interest becomes effective with
respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such
exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security
interest is or becomes illegal.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excluded
Taxes&rdquo;</I> means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment (or otherwise
pursuant to any Loan Document) pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan
or Commitment or becomes a party to this Agreement (other than pursuant to an assignment request by the Borrower under Section
10.2(b)) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 10.1, amounts
with respect to such Taxes were payable either to such Lender&rsquo;s assignor immediately before such Lender became a party hereto
or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Lender&rsquo;s failure to comply
with Section 10.1(g), and (d) any U.S. federal withholding Taxes imposed under FATCA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Existing
Letters of Credit&rdquo; </I>means and includes those letters of credit listed on Schedule&nbsp;2.3 attached hereto issued by the
L/C Issuer prior to, and outstanding on, the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Facility
Termination Date&rdquo;</I> means the date on which the Commitments are terminated, all Letters of Credit that are not Cash Collateralized
pursuant to Section&nbsp;4.5 have expired, and the principal of and interest on the Loans and all other Obligations payable by
the Borrower and the other Loan Parties under this Agreement and all other Loan Documents (other than any contingent or indemnification
obligations not then due) and, if then outstanding and unpaid, all Hedging Liability and Bank Product Liability shall have been
paid in full or collateralized in a manner reasonably acceptable to the Lender or Affiliate of a Lender to whom such obligations
are owed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;FATCA&rdquo;</I>
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version of such sections
that are substantively comparable and not materially more onerous to comply with) and any current or future regulations or official
interpretations thereof (including any Revenue Ruling, Revenue Procedure Notice or similar guidance issued by the U.S. Internal
Revenue Service as a precondition to relief or exemption from taxes under such provisions), and any agreements entered into pursuant
to Section&nbsp;1471(b)(1) of the Code and any intergovernmental agreement entered into in connection with the implementation of
such Sections.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Federal Funds
Rate&rdquo;</I> means for any day, the rate per annum (based on a year of 365 or 366&nbsp;days, as the case may be, and the actual
number of days elapsed and rounded upward to the nearest 1/100 of 1%) announced by the Federal Reserve Bank of New York (or any
successor) on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds
brokers on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially
the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the <I>&ldquo;Federal
Funds Effective Rate&rdquo;</I> as of the date of this Agreement, or, if such rate is not so published for any day that is a Business
Day, the average (rounded upward, if necessary, to the next higher 1/100 of 1%) of the quotations for such day for such transactions
received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Fixed Charge
Coverage Ratio&rdquo;</I> means, at any time the same is to be determined, the ratio of (a)&nbsp;EBITDA for the four consecutive
fiscal quarters of the Borrower and its Subsidiaries then most recently ended <I>less </I>Capital Expenditures made by the Borrower
and its Subsidiaries during the same four consecutive fiscal quarters not financed with Indebtedness to (b)&nbsp;Fixed Charges
for the same four consecutive fiscal quarters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Fixed Charges&rdquo;</I>
means, with reference to any period, the sum of (a)&nbsp;all scheduled payments of principal made or to be made during such period
with respect to Indebtedness (for clarity, excluding mandatory prepayments pursuant to Section 2.8(b)(v)) (<I>&ldquo;Principal
Payments&rdquo;</I>) of the Borrower and its Subsidiaries, <I>plus</I> (b)&nbsp;the cash portion of any Interest Expense for such
period, <I>plus</I> (c)&nbsp;Restricted Payments made by the Borrower and its Subsidiaries during such period (including, for the
avoidance of doubt, Tax Distributions made during such period), <I>plus</I> (d) without duplication,&nbsp;federal, state, and local
income taxes paid in cash by the Borrower and its Subsidiaries during such period. For purposes of calculating Fixed Charges for
any period prior to the quarter ending September 30, 2017, (x) scheduled payments of principal shall be deemed for all periods
included in such calculation to be an aggregate of $3,000,000 and (y) the cash portion of any Interest Expense for such period
shall mean (A) for the fiscal quarter ending September 30, 2016, the actual cash Interest Expense for such quarter multiplied by
4, (B) for the fiscal quarter ending December 31, 2016, the actual cash Interest Expense for the fiscal quarters ending September
30, 2016 and December 31, 2016 multiplied by 2, and (C) for the fiscal quarter ending March 31, 2017, the actual cash Interest
Expense for the fiscal quarters ending September 30, 2016, December 31, 2016 and March 31, 2017 multiplied by 4/3.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Florida Property</I>&rdquo;
means that certain parcel of real property located at 5401 Benchmark Lane, Sanford, Florida 32773.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Foreign Lender&rdquo;</I>
means a Lender that is not a U.S. Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Fronting
Exposure&rdquo;</I> means, at any time there is a Defaulting Lender, (a)&nbsp;with respect to the L/C Issuer, such Defaulting Lender&rsquo;s
Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender&rsquo;s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with Section 4.5, and (b)&nbsp;with respect
to the Swing Line Lender, such Defaulting Lender&rsquo;s Percentage of outstanding Swing Loans other than Swing Loans as to which
such Defaulting Lender&rsquo;s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with Section 4.5.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;GAAP&rdquo;</I>
means generally accepted accounting principles set forth from time to time in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the U.S. accounting profession),
which are applicable to the circumstances as of the date of determination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Governmental
Authority&rdquo; </I>means the government of the United States of America, any other nation or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central Bank).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guarantee&rdquo;</I>
of or by any Person (the <I>&ldquo;guarantor&rdquo;</I>) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the <I>&ldquo;primary obligor&rdquo;</I>)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a)&nbsp;to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (b)&nbsp;to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c)&nbsp;to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to
enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of
credit or letter of guaranty issued to support such Indebtedness or obligation; <I>provided</I> that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guarantors&rdquo;</I>
means and includes the Parent, each direct and indirect Subsidiary of the Borrower, and the Borrower, in its capacity as a guarantor
of the Secured Obligations of another Loan Party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guaranty
Agreements&rdquo;</I> means and includes the Guarantee of the Loan Parties provided for in Section&nbsp;11, and any other guaranty
agreement executed and delivered in order to guarantee the Secured Obligations or any part thereof in form and substance acceptable
to the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hazardous
Material&rdquo; </I>means any hazardous, toxic or harmful chemical, substance, waste, compound, material, product or byproduct
subject to or regulated under Environmental Laws, including but not limited to radon, asbestos, polychlorinated biphenyls, petroleum
(including crude oil or any fraction thereof) and lead.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hedge Agreement&rdquo;</I>
means any (a) agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of these transactions; <I>provided</I> that no phantom stock or similar plan providing for payments only on account of services
provided by current or former directors, officers, employees or consultants of any Loan Party or its Subsidiaries shall be a Hedge
Agreement or (b) any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International
Foreign Exchange Master Agreement, or any other similar master agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hedging Liability&rdquo;</I>
means the liability (after taking into account the effect of any legally enforceable netting agreements related thereto and not
including any Excluded Swap Obligations or obligations under Bonding Agreements) of any Loan Party to any of the Lenders, or any
Affiliates of such Lenders, in respect of any Hedge Agreement as such Loan Party, as the case may be, may from time to time enter
into with any one or more of the Lenders party to this Agreement or their Affiliates, equal to (a) for any such date on or after
the date such Hedge Agreement has been closed out and termination value determined in accordance therewith, such termination value
and (b) for any date before the date referenced in clause (a), the amount determined as the mark-to market value for such Hedge
Agreement; <I>provided, however,</I> that, with respect to any Guarantor, Hedging Liability Guaranteed by such Guarantor shall
exclude all Excluded Swap Obligations and obligations under Bonding Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hostile Acquisition&rdquo;</I>
means the acquisition of the Ownership Interests of a Person through a tender offer or similar solicitation of the owners of such
Ownership Interests which has not been approved (prior to such acquisition) by resolutions of the board of directors of such Person
or by similar action if such Person is not a corporation, and, if such acquisition has been so approved, as to which such approval
has not been withdrawn.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indebtedness&rdquo;</I>
means for any Person (without duplication) (a)&nbsp;all indebtedness of such Person for borrowed money, whether current or funded,
or secured or unsecured, (b)&nbsp;all indebtedness of such Person for the deferred purchase price of Property or services, (c)&nbsp;all
indebtedness created or arising under any conditional sale or other title retention agreement with respect to Property acquired
by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of a default are
limited to repossession or sale of such Property), (d)&nbsp;all indebtedness of such Person secured by a purchase money mortgage
or other Lien to secure all or part of the purchase price of Property subject to such mortgage or Lien, whether or not such Person
has assumed or become liable for the payment of such indebtedness, (e)&nbsp;all indebtedness secured by any Lien upon property
of such Person, (f)&nbsp;all Capitalized Lease Obligations of such Person, (g)&nbsp;any existing reimbursement, payment or similar
obligations of such Person in respect of bankers&rsquo; acceptances, letters of credit and other extensions of credit whether or
not representing obligations for borrowed money, (h) all obligations of such Person to purchase, redeem, retire, defease or otherwise
make any payment in respect of any Ownership Interest in such Person or any other Person or any warrant, right or option to acquire
such Ownership Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends, (i)&nbsp;all obligations of such Person under any Hedge Agreement (in
each case valued as the termination value thereof computed in accordance with a method approved by the International Swap Dealers
Association and agreed to by such Person in the applicable agreement, if any), (j)&nbsp;any indebtedness, whether or not assumed,
secured by Liens on Property acquired by such Person at the time of acquisition thereof, (k)&nbsp;all obligations under any so-called
&ldquo;synthetic lease&rdquo; transaction entered into by such Person, (l)&nbsp;all obligations under any so-called &ldquo;asset
securitization&rdquo; transaction entered into by such Person, and (m)&nbsp;all Contingent Obligations of such Person in respect
of indebtedness referred to in clauses (a) through (l) above, it being understood that the term &ldquo;Indebtedness&rdquo; shall
not include (i) payables, purchase orders, and accrued expenses arising in the ordinary course of business or (ii) &nbsp;obligations
of such Person in respect of (x)&nbsp;payment of bonuses or other deferred compensation to employees of such Person or any of its
Subsidiaries, (y)&nbsp;any purchase price adjustment, earnout or deferred payment obligation of a similar nature incurred in connection
with an Acquisition, and (z) deposits from customers. For the avoidance of doubt, any premiums payable under the Bonding Agreements
shall not be Indebtedness unless not paid when due.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indemnified
Taxes&rdquo; </I>means (a) all Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indemnitee&rdquo;</I>
is defined in Section 10.12(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Interest
Expense&rdquo;</I> means, with reference to any period, the sum of all interest charges (including imputed interest charges with
respect to Capitalized Lease Obligations and all amortization of debt discount and expense, and other banking fees, discounts,
charges and commissions) of the Borrower and its Subsidiaries for such period determined on a consolidated basis in accordance
with GAAP.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Interest
Payment Date&rdquo;</I> means (a)&nbsp;with respect to any Eurodollar Loan, the last day of each Interest Period with respect to
such Eurodollar Loan and on the maturity date and, if the applicable Interest Period is longer than three&nbsp;(3) three months,
on each day occurring every three&nbsp;(3) months after the commencement of such Interest Period, (b)&nbsp;with respect to any
Base Rate Loan (other than Swing Loans), the last Business Day of every calendar month and on the maturity date, and (c)&nbsp;as
to any Swing Loan, the last day of the Interest Period with respect to such Swing Loan, and on the maturity date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Interest
Period&rdquo;</I> means, with respect to Eurodollar Loans and Swing Loans, the period commencing on the date a Borrowing of Loans
is advanced, continued or created by conversion and ending: (a)&nbsp;in the case of a Eurodollar Loan, one (1), two (2), or three
(3)<B> </B>months thereafter, as the Borrower may elect, and (b)&nbsp;in the case of a Swing Loan, on the date one (1) to five
(5) Business Days thereafter as mutually agreed to by the Borrower and the Swing Line Lender; <I>provided, however, </I>that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Interest Period with respect to any Revolving Loans or any Swing Loan shall extend beyond the Revolving Credit Termination Date
and no Interest Period with respect to any portion of the Term Loans shall extend beyond the final maturity date of the Term Loans;</P>

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


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Interest Period with respect to any portion of the Term Loans consisting of Eurodollar Loans shall extend beyond a date on which
the Borrower is required to make a scheduled payment of principal on the Term Loans, unless the sum of (x)&nbsp;the aggregate principal
amount of Term Loans that are Base Rate Loans <I>plus</I> (y)&nbsp;the aggregate principal amount of Term Loans that are Eurodollar
Loans with Interest Periods expiring on or before such date equals or exceeds the principal amount to be paid on the Term Loans
on such payment date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;whenever
the last day of any Interest Period would otherwise be a day that is not a Business Day, the last day of such Interest Period shall
be extended to the next succeeding Business Day, <I>provided</I> that, if such extension would cause the last day of an Interest
Period for a Borrowing of Eurodollar Loans to occur in the following calendar month, the last day of such Interest Period shall
be the immediately preceding Business Day; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
purposes of determining an Interest Period for a Borrowing of Eurodollar Loans, a month means a period starting on one day in a
calendar month and ending on the numerically corresponding day in the next calendar month; <I>provided, however,</I> that if there
is no numerically corresponding day in the month in which such an Interest Period is to end or if such an Interest Period begins
on the last Business Day of a calendar month, then such Interest Period shall end on the last Business Day of the calendar month
in which such Interest Period is to end.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Inventory&rdquo;</I>
means &ldquo;inventory&rdquo; as defined in the UCC, including, without limitation, any and all inventory and goods of each Loan
Party, wheresoever located, whether now owned or hereafter acquired by such Loan Party, which are held for sale or lease, furnished
under any contract of service or held as raw materials, work-in-process or supplies, and all materials used or consumed in such
Loan Party&rsquo;s business, and shall include such property the sale or other disposition of which has given rise to Accounts
and which has been returned to or repossessed or stopped in transit by such Loan Party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Investment&rdquo;
</I>means any investment in any Person, whether by means of a loan or advance, guarantee of obligations, purchase of equity or
obligations, acquisition of all or any substantial part of the assets or business of any Person or any division thereof, entry
into joint ventures or partnerships, purchase or ownership of a futures contract or otherwise becoming liable for the purchase
or sale of currency or other commodities at a future date in the nature of a futures contract.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;IRS&rdquo;</I>
means the United States Internal Revenue Service.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;L/C Issuer&rdquo;</I>
means Fifth Third Bank, an Ohio banking corporation, and any successor pursuant to Section 10.9(g).</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;L/C Obligations&rdquo;</I>
means, at any time the same is to be determined, the sum of (i) the full amount available for drawing under all outstanding Letters
of Credit and (ii) all unpaid Reimbursement Obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;L/C Participation
Fee&rdquo;</I> is defined in Section&nbsp;2.13(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;L/C Sublimit&rdquo;</I>
means $5,000,000, as reduced pursuant to the terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Legacy Claims&rdquo;
</I>means charges and/or losses pertaining to the pending litigation arising out of the contracts or construction projects commonly
known as SCI Fayette and Wilshire Vermont as described on Schedule 5.5 to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Legal Requirement&rdquo;</I>
means any treaty, convention, statute, law, common law, regulation, ordinance, license, permit, governmental approval, injunction,
judgment, order, consent decree, restriction or other requirement of any Governmental Authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lenders&rdquo;</I>
means and includes the banks, financial institutions and other lenders from time to time party to this Agreement, as a &ldquo;Lender&rdquo;
hereunder, including each assignee Lender pursuant to Section&nbsp;10.9. Unless the context requires otherwise, the term <I>&ldquo;Lenders&rdquo;</I>
includes the Swing Line Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Letter of
Credit&rdquo;</I> is defined in Section 2.3(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;LIBOR&rdquo;</I>
means, for an Interest Period for a Borrowing of Eurodollar Loans, (a)&nbsp;the LIBOR Index Rate for such Interest Period, if such
rate is available, and (b)&nbsp;if the LIBOR Index Rate cannot be determined, the arithmetic average of the rates of interest per
annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which deposits in Dollars in immediately available funds are
offered to the Administrative Agent at 11:00&nbsp;a.m. (London, England time) two (2)&nbsp;Business Days before the beginning of
such Interest Period by three (3)&nbsp;or more major banks in the interbank eurodollar market selected by the Administrative Agent
for delivery on the first day of and for a period equal to such Interest Period and in an amount equal or comparable to the principal
amount of the Eurodollar Loan scheduled to be made by the Administrative Agent as part of such Borrowing; <I>provided </I>that,
in no event shall LIBOR be less than 0.00%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;LIBOR Index
Rate&rdquo;</I> means, for an Interest Period for any Borrowing of Eurodollar Loans, the rate per annum (rounded upwards, if necessary,
to the next higher one hundred-thousandth of a percentage point) for deposits in Dollars for a period equal to such Interest Period,
which appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before
the commencement of such Interest Period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lien&rdquo;
</I>means any lien, mortgage, deed of trust, pledge, assignment as collateral security, security interest, charge, or encumbrance
in the nature of security in respect of any Property, including the interests of a vendor or lessor under any conditional sale,
Capital Lease or other title retention arrangement, and any option, trust, authorized UCC financing statement or other preferential
arrangement having the practical effect of any of the foregoing.</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Limbach,
Inc.&rdquo;</I> means Limbach Holdings, Inc., a Delaware corporation, which entity was named 1347 Capital Corp. prior to the consummation
of the Required Merger and the Related Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan&rdquo;</I>
means any Revolving Loan, Term Loan or Swing Loan, whether outstanding as a Base Rate Loan or Eurodollar Loan or otherwise as permitted
hereunder, each of which is a <I>&ldquo;type&rdquo;</I> of Loan hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan Documents&rdquo;</I>
means this Agreement, the Notes (if any), the Applications, the Collateral Documents, the Guaranty Agreements, the Surety Intercreditor
Agreement, the Subordination Agreements and each other agreement, instrument or document to be delivered hereunder or thereunder
or otherwise in connection therewith, other than Hedge Agreements. In no event shall any Hedge Agreements or agreements governing
Bank Product Liabilities constitute a Loan Document.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan Party&rdquo;</I>
means the Borrower and each of the Guarantors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Margin Stock&rdquo;
</I>shall have the meaning given to such term in Regulation U of the Board of Governors of the Federal Reserve System.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Material
Adverse Effect&rdquo;</I> means (a) a material adverse change in, or material adverse effect upon, the business, condition (financial
or otherwise) operations, performance or Properties of the Borrower or of the Loan Parties taken as a whole, (b)&nbsp;a material
impairment of the ability of any Loan Party to perform its material obligations under any Loan Document or (c)&nbsp;a material
adverse effect upon (i)&nbsp;the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document
or the rights and remedies of the Administrative Agent and the Lenders thereunder or (ii)&nbsp;the perfection or priority of any
Lien granted under any Collateral Document.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Material
Agreement&rdquo;</I> means:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) for the lease of personal property to or from any Person providing for lease payments
in excess of $1,000,000 per annum;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) for the purchase or sale of raw materials, commodities, supplies, products, or other
personal property, or for the furnishing or receipt of services, other than in the ordinary course of business, the term of which
extends over a period of more than one year from the date hereof or which involves consideration in excess of $750,000;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement concerning a partnership or joint venture;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) under which Borrower or any of its Subsidiaries has created, incurred, assumed, or guaranteed
any Indebtedness, or any Capitalized Lease Obligation, in excess of $750,000 or under which a Person has imposed a lien on any
of the Borrower&rsquo;s or its Subsidiaries&rsquo; Property;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement for the employment of any individual on a full-time, part-time, consulting, or other basis providing annual compensation
in excess of $500,000 or providing material severance benefits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement under which the consequences of a default or termination would have a Material Adverse Effect;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement under which Borrower or any Subsidiary of the Borrower has loaned any Person, other than an officer, manager or director
of the Borrower or any Subsidiary of the Borrower, amounts in the aggregate exceeding $750,000; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
agreement (or group of related agreements) entered into other than in the ordinary course of business, the performance of which
involves consideration in excess of $750,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Maximum Rate&rdquo;
</I>is defined in Section 10.16.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Merger Agreement&rdquo;</I>
means that certain Agreement and Plan of Merger, dated as of March 23, 2016, by and between the Parent and Limbach, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Agent&rdquo; </I>means Alcentra Capital Corporation, as agent for the Mezzanine Lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Loan Agreement&rdquo;</I> means that certain Loan Agreement dated as of the date hereof, among the Loan Parties, the Mezzanine
Agent, and the Mezzanine Lenders, as amended, modified, supplemented, restated or amended and restated from time to time in accordance
with the terms of the Mezzanine Subordination Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Debt Documents&rdquo;</I> means the &ldquo;Loan Documents&rdquo; as defined in the Mezzanine Loan Agreement as in effect on the
date hereof, as each may be amended, modified, supplemented, restated or amended and restated from time to time in accordance with
the terms of the Mezzanine Subordination Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Lenders&rdquo;</I> means the various financial institutions from time to time party to the Mezzanine Loan Agreement as lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Subordinated Debt&rdquo;</I> means the &ldquo;Obligations&rdquo; under and as defined in the Mezzanine Loan Agreement.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mezzanine
Subordination Agreement&rdquo;</I> means that certain Subordination and Intercreditor Agreement dated as of the date hereof among
the Administrative Agent, the Mezzanine Agent, and the Loan Parties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Moody&rsquo;s&rdquo;</I>
means Moody&rsquo;s Investors Service, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Mortgages&rdquo;</I>
means, collectively, any and all mortgages or deeds of trust delivered to the Administrative Agent pursuant to Section&nbsp;4.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Multiemployer
Plan&rdquo;</I> means any employee benefit plan described in Section 4001(a)(3) of ERISA, to which a Loan Party or any member of
the Controlled Group makes or is obligated to make contributions, or during the preceding five plan years, has made or has been
obligated to make contributions or to which a Loan Party or member of the Controlled Group may have liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Net Cash
Proceeds&rdquo;</I> means, as applicable, (a)&nbsp;with respect to any Disposition by a Person, cash and cash equivalent proceeds
received by or for such Person&rsquo;s account, net of (i)&nbsp;reasonable direct costs relating to such Disposition, (ii)&nbsp;sale,
use or other transactional taxes paid or payable (or, without duplication Tax Distributions) by such Person as a direct result
of such Disposition, (iii) the amount of any reserves established to fund contingent liabilities reasonably estimated to be payable
(the <I>&ldquo;Reserve Cash Proceeds&rdquo;</I>), in each case during the year that such Disposition occurred or in the next succeeding
year (the <I>&ldquo;Reserve Period&rdquo;</I>) and that are directly attributable to such Disposition (as determined reasonably
and in good faith by a Duly Authorized Officer); <I>provided</I> that (A) the Borrower has provided the Administrative Agent written
notice of such Reserve Cash Proceeds prior to or contemporaneously upon receiving such cash proceeds and (B) any and all Reserve
Cash Proceeds that have not been used to pay such liabilities shall be promptly paid to the Administrative Agent on the last day
of the applicable Reserve Period, and (iv) the amount of any Indebtedness secured by a Lien on the asset and discharged from the
proceeds of such Disposition, (b)&nbsp;with respect to any Event of Loss of a Person, cash and cash equivalent proceeds received
by or for such Person&rsquo;s account (whether as a result of payments made under any applicable insurance policy therefor or in
connection with condemnation proceedings or otherwise), net of (i) reasonable direct costs incurred in connection with the collection
of such proceeds, awards or other payments and (ii) all money actually applied to repair or reconstruct the damaged Property or
Property affected by the condemnation or taking, and (c)&nbsp;with respect to any offering of Ownership Interests of a Person or
the issuance of any Indebtedness by a Person, cash and cash equivalent proceeds received by or for such Person&rsquo;s account,
net of reasonable legal, underwriting, and other fees and expenses incurred as a direct result thereof.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Net Income&rdquo;</I>
means, with reference to the applicable period, the net income (or net loss) of the Borrower and its Subsidiaries for such period
computed on a consolidated basis in accordance with GAAP; <I> provided </I>that there shall be excluded from Net Income: (a) extraordinary
gains and losses reasonably acceptable to the Administrative Agent in its Permitted Discretion, (b) non-cash gains and losses realized
on any Disposition, (c) the cumulative effect of a change in accounting principles and (d)&nbsp;non-cash write ups and write downs
resulting from purchase accounting adjustments, other than goodwill, inventory and accounts receivable in connection with a Permitted
Acquisition; <I>provided further</I> that there shall also be excluded from Net Income (x)&nbsp;the net income (or net loss) of
any Person accrued prior to the date it becomes a Subsidiary of, or has merged into or consolidated with, the Borrower or another
Subsidiary, except to the extent that the Borrower has delivered the financial statements of the Acquired Business for such period,
which financial statements shall have been reviewed or audited by an independent accounting firm reasonably satisfactory to the
Administrative Agent, and the Administrative Agent agrees to the inclusion of such net income (or net loss) of such Person, (y)&nbsp;the
net income (or net loss) of any Person (other than a Subsidiary) in which the Borrower or any of its Subsidiaries has an Ownership
Interest in, except to the extent of the amount of dividends or other distributions actually paid to the Borrower or any of its
Subsidiaries during such period, and (z)&nbsp;the undistributed earnings of any Subsidiary to the extent that the declaration or
payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any contractual obligation
(other than under any Loan Document) or Legal Requirement applicable to such Subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Consenting
Lender&rdquo;</I> means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all
affected Lenders or all Lenders, in each instance in accordance with the terms of Section&nbsp;10.10, and (b) has been approved
by the Required Lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Defaulting
Lender&rdquo;</I> means, at any time, each Lender that is not a Defaulting Lender at such time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Note&rdquo;</I>
and <I>&ldquo;Notes&rdquo;</I> mean and include the Revolving Notes, the Term Notes and the Swing Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Obligations&rdquo;</I>
means all obligations of the Borrower to pay principal and interest on the Loans (including all after the commencement of an insolvency
proceeding regardless of whether allowed or allowable in whole or in part as a claim in such insolvency proceeding), all Reimbursement
Obligations owing under the Applications, all fees and charges payable hereunder, and all other payment obligations of any Loan
Party arising under or in relation to any Loan Document, in each case whether now existing or hereafter arising, due or to become
due, direct or indirect, absolute or contingent, and howsoever evidenced, held or acquired, and including all interest costs, fees,
and charges after commencement of an insolvency proceeding regardless of whether allowed or allowable in whole or in part as a
claim in such insolvency proceeding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>OFAC</I>&rdquo;
means the United States Department of Treasury Office of Foreign Assets Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Organization
Documents&rdquo;</I> means, (a) for any corporation, the certificate or articles of incorporation, the bylaws, or code of regulations,
or other similar document and any certificate of designations or instrument relating to the rights of shareholders of such corporation,
(b) for any partnership, the partnership agreement or other similar agreement and, if applicable, certificate of limited partnership,
(c) for any limited liability company, the operating agreement, limited liability company agreement, or other similar agreement,
and articles or certificate of formation of such limited liability company, and (d) with respect to any joint venture, trust or
other form of business entity, the joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental
Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or
organization of such entity.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Other Connection
Taxes&rdquo;</I> means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a Lien under, engaged in any
other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Other Taxes&rdquo;</I>
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment
made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed
with respect to an assignment (other than an assignment made pursuant to Section 10.2(b)<FONT STYLE="font-size: 10pt">)</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Ownership
Interest&rdquo;</I> means all shares, interests, participations, rights to purchase, rights to transfer, rights to control, options,
warrants, general or limited partnership interests, limited liability company interests or other equivalents (regardless of how
designated) of or in a corporation, partnership, limited liability company or equivalent entity, whether voting or nonvoting, including
common stock, preferred stock or any other &ldquo;equity security&rdquo; (as such term is defined in Rule 3a11-1 of the Rules and
Regulations promulgated by the Securities and Exchange Commission (17 C.F.R. &sect;&nbsp;240.3a11-1) under the Securities and Exchange
Act of 1934).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Parent&rdquo;</I>
is defined in the introductory paragraph of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participant&rdquo;</I>
is defined in Section&nbsp;10.9(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participant
Register&rdquo; </I>is defined in Section 10.9(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participating
Interest&rdquo;</I> is defined in Section 2.3(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participating
Lender&rdquo;</I> is defined in Section 2.3(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Patriot Act&rdquo;
</I>means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act
of 2001, Pub. L. 107-56.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;PBGC&rdquo;</I>
means the Pension Benefit Guaranty Corporation or any Person succeeding to any or all of its functions under ERISA.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Percentage&rdquo;</I>
means for any Lender its Revolver Percentage or Term Loan Percentage, as applicable; and where the term <I>&ldquo;Percentage&rdquo;
</I>is applied on an aggregate basis (including Section&nbsp;10.12(c)), such aggregate percentage shall be calculated by aggregating
the separate components of the Revolver Percentage and Term Loan Percentage, and expressing such components on a single percentage
basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Perfection
Certificate&rdquo;</I> means that certain Perfection Certificate dated as of the Closing Date from the Borrower to the Administrative
Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Acquisition&rdquo;</I> means any Acquisition with respect to which all of the following conditions shall have been satisfied:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Acquired Business is in the same line of business engaged in as of the date of this Agreement by the Borrower and any of its Subsidiaries
or a Related Line of Business and has its primary operations in the United States of America;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Acquisition shall not be a Hostile Acquisition;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Total Consideration for the Acquired Business, when taken together with the Total Consideration for all Acquired Businesses acquired
during the immediately preceding 12-month period, shall not exceed $2,500,000 in the aggregate during such period, or $10,000,000
in the aggregate during the term of this Agreement or such greater amount as approved by the Required Lenders;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall have notified the Administrative Agent and Lenders not less than fifteen (15) days (or such shorter time period
as may be agreed to by the Administrative Agent) prior to any such Permitted Acquisition;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
a new Subsidiary is formed or acquired as a result of or in connection with the Acquisition, the Borrower shall have complied with
the requirements of Section&nbsp;4 in connection therewith;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
financial statements of the Acquired Business shall have been audited by a nationally recognized independent accounting firm or
have undergone a review by an accounting firm reasonably acceptable to the Administrative Agent or a quality of earnings report
shall have been furnished to the Administrative Agent from a firm reasonably acceptable to the Administrative Agent; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the Borrower shall have (x) Unused Revolving Credit Commitments plus unrestricted cash and Cash Equivalents and (y) Borrowing Base
Availability plus unrestricted cash and Cash Equivalents, in each case, of at least $10,000,000 and (ii) no Default or Event of
Default shall exist, including with respect to the covenants contained in Section&nbsp;6.20<B> </B>on a <I>pro forma</I> basis,
<I>provided</I> that the Total Leverage Ratio on a <I>pro forma</I> basis shall be no greater than 0.25 less than the most recently
applicable Total Leverage Ratio level, and the Borrower shall have delivered to the Administrative Agent a compliance certificate
in the form of Exhibit&nbsp;E attached hereto evidencing such compliance with Section 6.20.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the avoidance of
doubt, the Loan Parties may enter into joint ventures (including Special Purpose Joint Ventures) in accordance with the terms of
this Agreement, and no joint venture shall be deemed to be a Permitted Acquisition hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Discretion&rdquo;</I> means a reasonable determination made by the Administrative Agent in good faith and in the exercise of reasonable
business judgment from the perspective of a secured asset-based lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Holders&rdquo;</I> means F<I>d</I>G HVAC LLC, Limbach Management Holding Company, LLC, Marathon Special Opportunity Master Fund,
Ltd. and Charles A. Bacon III.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Lien&rdquo;</I> is defined in Section&nbsp;6.12.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Person&rdquo;</I>
means any natural person, partnership, corporation, limited liability company, association, trust, unincorporated organization
or any other entity or organization, including a Governmental Authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Plan&rdquo;</I>
means any employee pension benefit plan covered by Title&nbsp;IV of ERISA or subject to the minimum funding standards under Section&nbsp;412
of the Code, but excluding any Multiemployer Plan, that is maintained or contributed to, or during the preceding five plan years,
has been maintained or contributed to by a Loan Party or by a member of the Controlled Group or to which a Loan Party or member
of the Controlled Group may have liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Platform&rdquo;
</I>is defined in Section 10.8(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Property&rdquo;</I>
means, as to any Person, all types of real, personal, tangible, intangible or mixed property owned by such Person whether or not
included in the most recent balance sheet of such Person and its Subsidiaries under GAAP.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Qualified
ECP Guarantor</I>&rdquo; means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000
at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation
or such other Person as constitutes an &ldquo;eligible contract participant&rdquo; under the Commodity Exchange Act or any regulations
promulgated thereunder and can cause another Person to qualify as an &ldquo;eligible contract participant&rdquo; at such time by
entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Recipient&rdquo;</I>
means (a) the Administrative Agent, (b) any Lender, and (c) the L/C Issuer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Register&rdquo;</I>
is defined in Section 10.9(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Reimbursement
Obligation&rdquo;</I> is defined in Section 2.3(c).</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Agreements&rdquo;</I>
means the Bonding Agreements<B> </B>and the Merger Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Line
of Business&rdquo;</I> means engineering, design, construction and service/maintenance of general trades, mechanical, electrical,
plumbing and/or fire protection business in the United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Parties&rdquo;</I>
means, with respect to any Person, such Person&rsquo;s Affiliates and the partners, directors, officers, employees, agents, trustees,
administrators, managers, advisors and representatives of such Person and of such Person&rsquo;s Affiliates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Transactions&rdquo;</I>
means the transactions contemplated by the Related Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Release&rdquo;</I>
means any placing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping,
disposing or migrating into the environment, including the exacerbation of existing environmental conditions and the abandonment
or discarding of barrels, drums, containers, tanks or other receptacles containing or previously containing any Hazardous Material.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Removal Effective
Date&rdquo;</I> is defined in Section 9.7(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Bonding Facility&rdquo;</I> means a bonding facility of adequate size to support the work program of the Borrower and its Subsidiaries
and which is otherwise reasonably satisfactory to the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Lenders&rdquo;</I> means, as of the date of determination thereof, Lenders whose outstanding Loans and interests in Letters of
Credit and Unused Revolving Credit Commitments constitute more than 66 2/3%<B> </B>of the sum of the total outstanding Loans, interests
in Letters of Credit and Unused Revolving Credit Commitments; <I>provided</I> that, the Commitment of, and the portion of the outstanding
Loans, interests in Letters of Credit and Unused Revolving Credit Commitments held or deemed held by, any Defaulting Lender shall,
so long as such Lender is a Defaulting Lender, be disregarded for purposes of making a determination of Required Lenders. For the
purposes of this definition, (a)&nbsp;any Lender and its Affiliates shall constitute a single Lender, and (b)&nbsp;in no event
shall Required Lenders include fewer than two (2) Lenders at any time there are two (2) or more Lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Merger&rdquo;</I> means the acquisition and merger transaction contemplated by the Merger Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Reserve Percentage&rdquo;</I>
means, for any Borrowing of Eurodollar Loans, the daily average for the applicable Interest Period of the maximum rate, expressed
as a decimal, at which reserves (including any supplemental, marginal, and emergency reserves) are imposed during such Interest
Period by the Board of Governors of the Federal Reserve System (or any successor) on <I>&ldquo;eurocurrency liabilities&rdquo;</I>,
as defined in such Board&rsquo;s Regulation&nbsp;D (or in respect of any other category of liabilities that includes deposits by
reference to which the interest rate on Eurodollar Loans is determined or any category of extensions of credit or other assets
that include loans by non-United States offices of any Lender to United States residents), subject to any amendments of such reserve
requirement by such Board or its successor, taking into account any transitional adjustments thereto. For purposes of this definition,
the Eurodollar Loans shall be deemed to be <I>&ldquo;eurocurrency liabilities&rdquo;</I> as defined in Regulation&nbsp;D without
benefit or credit for any prorations, exemptions or offsets under Regulation&nbsp;D.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Resignation
Effective Date&rdquo;</I> is defined in Section 9.7(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Restricted
Payments</I>&rdquo; means (i) any dividends on or any other distributions in respect of any class or series of Ownership Interests
and<B> </B>(ii) any purchase, redemption or other acquisition or retirement of Ownership Interests.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Retainage&rdquo;
</I>means any all compensation withheld from the Borrower by customers pursuant to the common construction contracting practice
commonly called or referred to as &ldquo;retainage&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Reuters Screen
LIBOR01 Page&rdquo;</I> means the display designated as the <I>&ldquo;LIBOR01 Page&rdquo;</I> and captioned as ICE Benchmark Administration
Interest Settlement Rates, on the Reuters America Network, a service of Reuters America Inc. (or on any successor or substitute
page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently
provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations
of interest rates applicable to dollar deposits in the London interbank market).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolver
Percentage&rdquo;</I> means, for each Lender, the percentage of the aggregate Revolving Credit Commitments represented by such
Lender&rsquo;s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated or have expired, the percentage
held by such Lender (including through participation interests in Reimbursement Obligations and Swing Loans) of the aggregate principal
amount of all Revolving Loans, Swing Loans, and L/C&nbsp;Obligations then outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolving
Credit&rdquo;</I> means the credit facility for making Revolving Loans and Swing Loans and issuing Letters of Credit described
in Sections&nbsp;2.2, 2.3 and 2.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolving
Credit Commitment&rdquo;</I> means, as to any Lender, the obligation of such Lender to make Revolving Loans and to participate
in Swing Loans and Letters of Credit issued for the account of the Borrower hereunder in an aggregate principal or face amount
at any one time outstanding not to exceed the amount set forth opposite such Lender&rsquo;s name on Schedule&nbsp;1 attached hereto
and made a part hereof, as the same may be reduced, increased or otherwise modified at any time or from time to time pursuant to
the terms hereof. The Borrower and the Lenders acknowledge and agree that the Revolving Credit Commitments of the Lenders aggregate
$25,000,000 on the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolving
Credit Termination Date&rdquo;</I> means July 20, 2021 or such earlier date on which the Revolving Credit Commitments are terminated
in whole pursuant to Section&nbsp;2.10, 7.2 or 7.3.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolving
Loan&rdquo; </I>is defined in Section&nbsp;2.2 and, as so defined, includes a Base Rate Loan or a Eurodollar Loan, each of which
is a <I>&ldquo;type&rdquo;</I> of Revolving Loan hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Revolving
Note&rdquo;</I> is defined in Section&nbsp;2.12(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;S&amp;P&rdquo;</I>
means Standard &amp; Poor&rsquo;s Ratings Services Group, a Standard &amp; Poor&rsquo;s Financial Services LLC business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctioned
Country</I>&rdquo; means a country or territory that is the subject of a Sanctions Program.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctioned
Person</I>&rdquo; means (a) a Person named on a Sanctions List, each Person owned or controlled by a Person named on a Sanctions
List, and each other Person that is subject to a Sanctions Program, (b) an agency or government of a Sanctioned Country, (c) an
organization controlled directly or indirectly by a Sanctioned Country, or (d) a Person resident in a Sanctioned Country, to the
extent subject to a Sanctions Program.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Event</I>&rdquo; means the event specified in Section&nbsp;6.21(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Lists</I>&rdquo; means, and includes, (a) the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC,
(b) the list of Sectoral Sanctions Identifications maintained by the U.S. Department of Treasury, (c) the list of Foreign Sanctions
Evaders maintained by the U.S. Department of Treasury, and (d) any similar list maintained by the U.S. State Department, the U.S.
Department of Commerce, the U.S. Department of Treasury, or any other U.S. Governmental Authority, or maintained by a Canadian
Governmental Authority, the United Nations Security Counsel, or the European Union.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Programs</I>&rdquo; means (a) all economic, trade, and financial sanctions programs administered by OFAC (including all laws, regulations,
and Executive Orders administered by OFAC), the U.S. State Department, and any other U.S. Governmental Authority, including the
Bank Secrecy Act, anti-money laundering laws (including the Patriot Act), and any and all similar United States federal laws, regulations
or Executive Orders, and any similar laws, regulations or orders adopted by any State within the United States, and (b) to the
extent applicable, all similar economic, trade, and financial sanctions programs administered, enacted, or enforced by the European
Union or the United Kingdom.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Schedule
of Accounts</I>&rdquo; means an aged trial balance and reconciliation to the Borrowing Base in form and substance reasonably satisfactory
to the Administrative Agent (which may in the Administrative Agent&rsquo;s Permitted Discretion include copies of original invoices)
listing the Accounts of each Loan Party, certified on behalf of each Loan Party by a Duly Authorized Officer of the Borrower, to
be delivered on a monthly basis to the Administrative Agent by the Borrower pursuant to Section 6.1(i).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Schedule
of Retainage&rdquo; </I>means a schedule of Retainage in form and substance reasonably satisfactory to the Lender listing in reasonable
detail any and all outstanding Retainage, certified on behalf of each Loan Party by a Duly Authorized Officer of the Borrower,
to be delivered on a monthly basis to the Administrative Agent by the Borrower pursuant to Section 6.1(i).</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Secured Obligations&rdquo;</I>
means the Obligations, Hedging Liability, and Bank Product Obligations, in each case whether now existing or hereafter arising,
due or to become due, direct or indirect, absolute or contingent, and howsoever evidenced, held or acquired (including all interest,
costs, fees, and charges after the entry of an order for relief against any Loan Party in a case under the United States Bankruptcy
Code or any similar proceeding, whether or not such interest, costs, fees and charges would be an allowed claim against such Loan
Party in any such proceeding); <I>provided, however,</I> that, with respect to any Guarantor, Secured Obligations Guaranteed by
such Guarantor shall exclude all Excluded Swap Obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Security
Agreement&rdquo;</I> means that certain Security Agreement dated as of the date hereof among the Loan Parties and the Administrative
Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Funded
Debt&rdquo; </I>means, at any time the same is to be determined, (a) Total Funded Debt at such time <I>less</I> (ii) the Subordinated
Debt at such time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Leverage
Ratio&rdquo;</I> means, as of the date of determination thereof, the ratio of (a) Senior Funded Debt of the Borrower and its Subsidiaries
as of such date to (b) EBITDA for the most recently ended four fiscal quarters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Solvent&rdquo;</I>
or <I>&ldquo;Solvency&rdquo;</I> means, when used with respect to any Person, that, as at any date of determination, (a)&nbsp;the
amount of the &ldquo;present fair saleable value&rdquo; of the assets of such Person will, as of such date, exceed the amount of
all &ldquo;liabilities of such Person, contingent or otherwise&rdquo; as of such date, as such quoted terms are determined in accordance
with applicable federal and state laws governing determinations of the insolvency of debtors, (b)&nbsp;such Person will not have,
as of such date, an unreasonably small amount of capital with which to conduct its business, and (c)&nbsp;such Person will be able
to pay its debts as they mature. The amount of contingent liabilities at any time shall be computed as the amount that, in the
light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become
an actual or matured liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Special Purpose
Joint Venture</I>&rdquo; means a joint venture entered into by one of the Loan Parties with another Person solely with respect
to a particular contract, project or job and in which a subcontract is awarded to one of the Loan Parties from such joint venture
entity which subcontract is subject to a perfected first priority Lien in favor of the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Subordinated
Debt</I>&rdquo; means (i) the Mezzanine Subordinated Debt and (ii) any other Indebtedness of the Parent and its Subsidiaries owing
to a Person by that is subordinated in right of payment to the prior payment of the Secured Obligations pursuant to subordination
provisions approved in writing by the Administrative Agent in its reasonable discretion, which Indebtedness shall have interest
rates, payment terms, maturities, amortization schedules, covenants, defaults, remedies and other material terms that are acceptable
in form and substance to the Administrative Agent and which subordination provisions shall contain restrictions on enforcement,
restrictions on payment, subordination terms, and other material terms that are acceptable in form and substance to the Administrative
Agent.<B> </B></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;</I></B><I>Subordination
Agreements&rdquo;</I> means, collectively, the Mezzanine Subordination Agreement and any other subordination agreements entered
into with respect to Subordinated Debt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subsidiary&rdquo;</I>
means, as to any particular parent corporation or organization, any other corporation or organization more than 50% of the outstanding
Voting Interests of which is at the time directly or indirectly owned by such parent corporation or organization or by any one
or more other entities which are themselves subsidiaries of such parent corporation or organization. Unless otherwise expressly
noted herein, the term <I>&ldquo;Subsidiary&rdquo;</I> means a Subsidiary of the Borrower or of any of its direct or indirect Subsidiaries;
<I>provided, however,</I> that no entity formed for the sole purpose of being a Special Purpose Joint Venture shall be deemed a
Subsidiary of the Borrower.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Surety Intercreditor
Agreement&rdquo;</I> means that certain Intercreditor Agreement dated as of the date hereof by and between the Bonding Company
and the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Swap Obligation</I>&rdquo;
means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract, or transaction that constitutes
a &ldquo;swap&rdquo; within the meaning of Section 1a(47) of the Commodity Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Line&rdquo;&nbsp;</I>means
the credit facility for making one or more Swing Loans described in Section&nbsp;2.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Line
Lender&rdquo; </I>means Fifth Third Bank, an Ohio banking corporation, and any successor acting in such capacity pursuant to Section
10.9(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Line
Lender&rsquo;s Quoted Rate&rdquo;</I> is defined in Section&nbsp;2.11(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Line
Sublimit&rdquo;</I> means $5,000,000, as reduced pursuant to the terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Loan&rdquo;
</I>and <I>&ldquo;Swing Loans&rdquo;</I> each is defined in Section&nbsp;2.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Swing Note&rdquo;</I>
is defined in Section&nbsp;2.12(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Tangible
Net Worth&rdquo;</I> shall mean, with respect to the Borrower and its Subsidiaries, the total of the capital stock (less treasury
stock), paid-in capital surplus, and retained earnings (deficit) of the Borrower and any of its Subsidiaries as determined on a
consolidated basis in accordance with GAAP after eliminating all inter-company items and all amounts properly attributable to minority
interests, if any, in the stock and surplus of any such Subsidiary, <I>minus</I> the following items (without duplication of deductions),
if any, appearing on the consolidated balance sheet of the Borrower or any of its Subsidiaries: (a) all deferred charges (less
amortization, unamortized debt discount and expenses and corporate organization expenses), (b) the book amount of all assets which
would be treated as intangibles under GAAP, including, without limitation, such items as goodwill, trademark applications, trade
names, service marks, brand names, copyrights, patents, patent applications and licenses, and rights with respect to the foregoing,
(c) the amount by which aggregate inventories or aggregate securities appearing on the asset side of such consolidated balance
sheet exceed the lower of cost or market value (at the date of such balance sheet) and (d) any write-up in the book amount of any
asset resulting from a revaluation thereof from the book amount entered upon acquisition of such asset.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Tax Distributions&rdquo;</I>
means distributions made by a Loan Party to Limbach, Inc. for the payment of taxes by Limbach, Inc. in quarterly installments,
based on Limbach, Inc.&rsquo;s good-faith and reasonable estimate of income to be generated by Limbach, Inc.&rsquo;s and its Subsidiaries
business in such year to allow Limbach, Inc. to meet its tax obligations on such income taking into account the carryforward of
net operating losses for any previous tax year that begins on or after the Closing Date, but only to the extent such carryforward
is permitted under applicable law and has not already been utilized to reduce, in any tax year during which this Agreement is in
effect, the amount of any distribution otherwise permitted hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Taxes&rdquo;</I>
means any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax, liabilities or penalties
applicable thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Credit&rdquo;&nbsp;</I>means
the credit facility for the Term Loans described in Section&nbsp;2.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Loan&rdquo;
</I>is defined in Section&nbsp;2.1 and, as so defined, includes a Base Rate Loan or a Eurodollar Loan, each of which is a <I>&ldquo;type&rdquo;</I>
of Term Loan hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Loan
Commitment&rdquo;</I> means, as to any Lender, the obligation of such Lender to make its Term Loan on the Closing Date in the principal
amount not to exceed the amount set forth opposite such Lender&rsquo;s name on Schedule&nbsp;1 attached hereto and made a part
hereof. The Term Loan Commitments of the Lenders aggregate $24,000,000 on the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Loan
Percentage&rdquo;</I> means, for each Lender, the percentage of the Term Loan Commitments represented by such Lender&rsquo;s Term
Loan Commitment or, if the Term Loan Commitments have been terminated or have expired, the percentage held by such Lender of the
aggregate principal amount of all Term Loans then outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Note&rdquo;</I>
is defined in Section&nbsp;2.12(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Term Loan
Reserve&rdquo; </I>means, as of any time the same is to be determined, an amount equal to the aggregate principal amount of Term
Loans then outstanding or such other amount as determined by the Administrative Agent in accordance with Section 2.2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Consideration&rdquo;</I>
means the sum (but without duplication) of (a)&nbsp;cash paid or payable in connection with any Acquisition, whether paid at or
prior to or after the closing thereof, <I>plus</I> (b)&nbsp;Indebtedness payable to the seller in connection with such Acquisition,
<I>plus</I> (c)&nbsp;the fair market value of any Ownership Interests, delivered to the seller in connection with any Acquisition,
<I>plus</I> (d)&nbsp;purchase price payments which are required to be made over a period of time and are not contingent upon the
Borrower or any other Loan Party meeting financial performance objectives (exclusive of salaries paid in the ordinary course of
business) (discounted at the Base Rate), but only to the extent not included in clause&nbsp;(a), (b) or (c) above, <I>plus</I>
(e)&nbsp;the principal amount of Indebtedness assumed in connection with such Acquisition.</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Funded
Debt&rdquo;</I> means, at any time the same is to be determined, the sum (but without duplication) of all Indebtedness (including
obligations in respect of Letters of Credit, whether or not representing obligations for borrowed money, except to the extent Cash
Collateralized) of the Parent and its Subsidiaries at such time determined on a consolidated basis in accordance with GAAP, but
excluding obligations in respect of Bonding Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Leverage
Ratio&rdquo;</I> means, as of the date of determination thereof, the ratio of (a) Total Funded Debt of the Borrower and its Subsidiaries
as of such date to (b) EBITDA as of the last day of the period of four fiscal quarters most recently ended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>UCC</I>&rdquo;
is defined in Section 1.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Unused Revolving
Credit Commitments&rdquo;</I> means, at any time, the difference between (a) the Revolving Credit Commitments then in effect and
(b) the aggregate outstanding principal amount of Revolving Loans, Swing Loans and L/C Obligations then outstanding (other than
L/C Obligations that are Cash Collateralized); <I>provided</I> that Swing Loans outstanding from time to time shall be deemed to
reduce the Unused Revolving Credit Commitment of the Administrative Agent for purposes of computing the commitment fee under Section&nbsp;2.13(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;U.S. Person&rdquo;
</I>means any Person that is a &ldquo;United States Person&rdquo; as defined in Section&nbsp;7701(a)(30) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;U.S. Tax
Compliance Certificate&rdquo;</I> is defined in Section 10.1(g)(ii).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Voting Interests&rdquo;</I>
of any Person means Ownership Interests of any class or classes (however designated) having ordinary power for the election of
directors or other similar governing body of such Person (including general partners of a partnership), other than Ownership Interests
having such power only by reason of the happening of a contingency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Welfare Plan&rdquo;</I>
means a &ldquo;welfare plan&rdquo; of the Loan Parties as defined in Section&nbsp;3(1) of ERISA that is maintained or contributed
to by a Loan Party or a Subsidiary of a Loan Party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Wholly-owned
Subsidiary&rdquo;</I> means, at any time, any Subsidiary of which all of the issued and outstanding Ownership Interests (other
than directors&rsquo; qualifying Ownership Interests as required by law) are owned by any one or more of the Borrower and the Borrower&rsquo;s
other Wholly-owned Subsidiaries at such time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Withholding
Agent&rdquo;</I> means any Loan Party and the Administrative Agent.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interpretation</I>.
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words &ldquo;include,&rdquo;
&ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation.&rdquo;
The word &ldquo;will&rdquo; shall be construed to have the same meaning and effect as the word &ldquo;shall.&rdquo; Unless the
context requires otherwise (a)&nbsp;any definition of or reference to any agreement, instrument or other document herein shall
be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b)&nbsp;any reference
herein to any Person shall be construed to include such Person&rsquo;s successors and permitted assigns, (c)&nbsp;the words &ldquo;herein,&rdquo;
&ldquo;hereof&rdquo; and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d)&nbsp;all references herein to Sections, Exhibits and Schedules shall
be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, (e)&nbsp;any reference to any law or regulation
herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time,
and any successor of such law or regulation and (f)&nbsp;the words &ldquo;asset&rdquo; and &ldquo;property&rdquo; shall be construed
to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash,
securities, accounts and contract rights. All references to time of day herein are references to Cincinnati, Ohio, time unless
otherwise specifically provided. Where the character or amount of any asset or liability or item of income or expense is required
to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement,
it shall be done in accordance with GAAP except where such principles are inconsistent with the specific provisions of this Agreement.
All terms that are used in this Agreement which are defined in the Uniform Commercial Code of the State of New York as in effect
from time to time (<I>&ldquo;UCC&rdquo;</I>) shall have the same meanings herein as such terms are defined in the UCC, unless this
Agreement shall otherwise specifically provide. References &ldquo;from&rdquo; or &ldquo;through&rdquo; any date mean, unless otherwise
specified, &ldquo;from and including&rdquo; or &ldquo;through and including&rdquo;, respectively. Unless otherwise specified herein,
the settlement of all payments and fundings hereunder between or among the parties hereto shall be made in lawful money of the
United States of America and in immediately available funds. All amounts used for purposes of financial calculations required to
be made herein shall be without duplication. References to any statute or act, without additional reference, shall be deemed to
refer to federal statutes and acts of the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Accounting Principles</I>. If, after the date of this Agreement, there shall occur any change in GAAP from those used in the
preparation of the financial statements referred to in Section&nbsp;5.3 and such change shall result in a change in the method
of calculation of any financial covenant, standard or term found in this Agreement, either the Borrower or the Required Lenders
may by notice to the Lenders and the Borrower, respectively, require that the Lenders and the Borrower negotiate in good faith
to amend such covenant, standard, and term so as equitably to reflect such change in accounting principles, with the desired result
being that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries or such covenant, standard
or term shall be the same as if such change had not been made. No delay by the Borrower or the Required Lenders in requiring such
negotiation shall limit their right to so require such a negotiation at any time after such a change in accounting principles.
Until any such covenant, standard, or term is amended in accordance with this Section&nbsp;1.3, financial covenants (and all related
defined terms) and applicable covenants, terms and standards shall be computed and determined in accordance with GAAP in effect
prior to such change in accounting principles.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rounding</I>.
Any financial ratios required to be maintained pursuant to this Agreement (or required to be satisfied in order for a specific
action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component,
carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result
up or down to the nearest number (with a rounding up if there is no nearest number).</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Credit Facilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term
Loan Commitments.</I> Each Lender severally and not jointly agrees, subject to the terms and conditions hereof, to make a loan
(each individually a <I>&ldquo;Term Loan&rdquo;</I> and, collectively, the <I>&ldquo;Term Loans&rdquo;</I>) in Dollars to the Borrower
in the amount of such Lender&rsquo;s Term Loan Commitment. The Term Loans shall be advanced in a single Borrowing on the Closing
Date, at which time the Term Commitments shall expire. As provided in Section&nbsp;2.5(a), and subject to the terms hereof, the
Borrower may elect that all or any part of the Term Loans be outstanding as Base Rate Loans or Eurodollar Loans. No amount of any
Term Loan may be reborrowed once it is repaid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revolving
Credit Commitments</I>. Prior to the Revolving Credit Termination Date, each Lender severally and not jointly agrees, subject to
the terms and conditions hereof, to make revolving loans (each individually a <I>&ldquo;Revolving Loan&rdquo;</I> and, collectively,
the <I>&ldquo;Revolving Loans&rdquo;</I>) in Dollars to the Borrower from time to time up to the amount of such Lender&rsquo;s
Revolving Credit Commitment in effect at such time; <I>provided, however,</I> the sum of the aggregate principal amount of Revolving
Loans, Swing Loans and L/C Obligations at any time outstanding shall not exceed the lesser of (a) the sum of all Revolving Credit
Commitments in effect at such time and (b) the Borrowing Base as then determined and computed. Each Borrowing of Revolving Loans
shall be made ratably by the Lenders in proportion to their respective Revolver Percentages. As provided in Section&nbsp;2.5(a),
and subject to the terms hereof, the Borrower may elect that each Borrowing of Revolving Loans be either Base Rate Loans or Eurodollar
Loans. Revolving Loans may be repaid and reborrowed before the Revolving Credit Termination Date, subject to the terms and conditions
hereof. Notwithstanding any other provision of this Agreement to the contrary, the Administrative Agent<B> </B>shall have the right
from time to time to (i) reduce the amount of the Term Loan Reserve as the Administrative Agent shall deem necessary or appropriate
in its Permitted Discretion and (ii) establish additional reserves against the amount of Revolving Credit that the Borrower may
otherwise request hereunder, which reserves shall be in such amounts as the Administrative Agent shall deem necessary or appropriate
in its Permitted Discretion (x) based on adverse information, if any, concerning any or all of the Collateral received by the Administrative
Agent after the date hereof, (y) with respect to the Bank Product Liability and Hedging Liability and (z) after the occurrence
and continuation of a Default or Event of Default, with respect to rent and other amounts payable during the three (3) consecutive
succeeding months under real property leases, bailee agreements, warehouse agreements and other similar contracts for the storing
of inventory or equipment<B> </B>of the Loan Parties and with respect to which the Loan Parties have not provided Collateral Access
Agreements. The amount of such reserves shall be subtracted from the Borrowing Base when calculating the amount of availability
under the Revolving Credit and shall be deemed usage of the Revolving Credit Commitment, in each case when calculating the amount
of availability under the Revolving Credit for purposes of Sections&nbsp;2 and 3 hereof, other than with respect to the Revolving
Credit Commitment fee under Section 2.13(a); <I>provided</I> that, for the avoidance of doubt, the Term Loan Reserve shall not
be deemed usage of the Revolving Credit Commitment. Additionally, the Administrative Agent may from time to time reduce the advance
rate percentage applicable to Eligible Accounts under the Borrowing Base, as the Administrative Agent shall deem necessary or appropriate
in its Permitted Discretion based on adverse information, if any, concerning any or all of the Collateral received by the Administrative
Agent after the date hereof. So long as no Default or Event of Default exists, the Administrative Agent agrees to give the Borrower
thirty&nbsp;(30)&nbsp;days&rsquo; prior notice of the establishment of any such reserve (other than reserves relating to Bank Product
Liability and Hedging Liability) or the change of any such percentage.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Letters
of Credit</I>. (a)&nbsp;<I>General Terms.</I> Subject to the terms and conditions hereof, as part of the Revolving Credit, the
L/C&nbsp;Issuer shall issue standby and commercial letters of credit (each such letter of credit and each of the Existing Letters
of Credit, a <I>&ldquo;Letter of Credit&rdquo;</I>) for the Borrower&rsquo;s account in an aggregate undrawn face amount up to
the L/C&nbsp;Sublimit; <I>provided</I>, that the undrawn face amount of Existing Letters of Credit shall be considered usage for
such L/C Sublimit so long as any Existing Letter of Credit remains outstanding; <I>provided, however,</I> the sum of the aggregate
principal amount of Revolving Loans, Swing Loans<B> </B>and L/C&nbsp;Obligations at any time outstanding shall not exceed the lesser
of (i) the sum of all Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base as then determined and computed.
Each Lender shall be obligated to reimburse the L/C Issuer for such Lender&rsquo;s Revolver Percentage of the amount of each drawing
under a Letter of Credit and, accordingly, each Letter of Credit shall constitute usage of the Revolving Credit Commitment of each
Lender pro rata in an amount equal to its Revolver Percentage of the L/C&nbsp;Obligations then outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Applications.</I>
At any time before the Revolving Credit Termination Date, the L/C Issuer shall, at the request of the Borrower, issue one or more
Letters of Credit in Dollars, in form and substance acceptable to the L/C Issuer, with expiration dates no later than the earlier
of 12&nbsp;months from the date of issuance (or which are cancelable not later than 12 months from the date of issuance and each
renewal) or thirty (30)&nbsp;days prior to the Revolving Credit Termination Date (unless the Borrower has provided Cash Collateral
in compliance with the requirements of Section&nbsp;4.5 as security for such Letter of Credit in an amount equal to 105% of the
full amount then available for drawing under such Letter of Credit) in an aggregate face amount as set forth above, upon the receipt
of a duly executed application for the relevant Letter of Credit in the form then customarily prescribed by the L/C Issuer for
the Letter of Credit, including with respect to each of the Existing Letters of Credit, requested (each an <I>&ldquo;Application&rdquo;</I>).
Notwithstanding anything contained in any Application to the contrary: (i)&nbsp;the Borrower shall pay fees in connection with
each Letter of Credit as set forth in Section&nbsp;2.13(b), and (ii)&nbsp;if the L/C Issuer is not timely reimbursed for the amount
of any drawing under a Letter of Credit on the date such drawing is paid, the Borrower&rsquo;s obligation to reimburse the L/C
Issuer for the amount of such drawing shall bear interest (which the Borrower hereby promises to pay) from and after the date such
drawing is paid at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect (computed
on the basis of a year of three hundred sixty-five (365) or three hundred sixty-six (366)&nbsp;days, as the case may be, and the
actual number of days elapsed). Without limiting the foregoing, the L/C Issuer&rsquo;s obligation to issue, amend or extend the
expiration date of a Letter of Credit is subject to the terms or conditions of this Agreement (including the conditions set forth
in Section&nbsp;3.1 and the other terms of this Section&nbsp;2.3). Notwithstanding anything herein to the contrary, the L/C issuer
shall be under no obligation to issue, extend or amend any Letter of Credit if any Lender is at such time a Defaulting Lender hereunder
unless the Borrower or such Defaulting Lender has provided Cash Collateral in compliance with Section 4.5 sufficient to eliminate
the L/C Issuer&rsquo;s risk with respect to such Defaulting Lender.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The
Reimbursement Obligations.</I> Subject to Section&nbsp;2.3(b), the obligation of the Borrower to reimburse the L/C Issuer for all
drawings under a Letter of Credit (a <I>&ldquo;Reimbursement Obligation&rdquo;</I>) shall be governed by the Application related
to such Letter of Credit and this Agreement, except that reimbursement shall be paid by no later than 12:00&nbsp;Noon (Cincinnati
time) on the date which each drawing is to be paid if the Borrower has been informed of such drawing by the L/C Issuer on or before
11:30&nbsp;a.m. (Cincinnati time) on the date when such drawing is to be paid or, if notice of such drawing is given to the Borrower
after 11:30&nbsp;a.m. (Cincinnati time) on the date when such drawing is to be paid, by the end of such day, in all instances in
immediately available funds at the Administrative Agent&rsquo;s principal office in Cincinnati, Ohio or such other office as the
Administrative Agent may designate in writing to the Borrower, and the Administrative Agent shall thereafter cause to be distributed
to the L/C&nbsp;Issuer such amount(s) in like funds. If the Borrower does not make any such reimbursement payment on the date due
and the Participating Lenders fund their participations in the manner set forth in Section&nbsp;2.3(d) below, then all payments
thereafter received by the Administrative Agent in discharge of any of the relevant Reimbursement Obligations shall be distributed
in accordance with Section&nbsp;2.3(d) below. In addition, for the benefit of the Administrative Agent, the L/C&nbsp;Issuer and
each Lender, the Borrower agrees that, notwithstanding any provision of any Application, its obligations under this Section 2.3(c)
and each Application shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms
of this Agreement and the relevant Application, under all circumstances whatsoever, and irrespective of any claim or defense that
the Borrower may otherwise have against the Administrative Agent, the L/C Issuer or any Lender, including (i)&nbsp;any lack of
validity or enforceability of any Loan Document; (ii)&nbsp;any amendment or waiver of or any consent to departure from all or any
of the provisions of any Loan Document; (iii)&nbsp;the existence of any claim, set-off, defense, or other right of the Borrower
may have at any time against a beneficiary of a Letter of Credit (or any Person for whom a beneficiary may be acting), the Administrative
Agent, the L/C Issuer, any Lender or any other Person, whether in connection with this Agreement, another Loan Document, the transaction
related to the Loan Document or any unrelated transaction; (iv)&nbsp;any statement or any other document presented under a Letter
of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate
in any respect; (v)&nbsp;payment by the Administrative Agent or a L/C Issuer under a Letter of Credit against presentation to the
Administrative Agent or a L/C Issuer of a draft or certificate that does not comply with the terms of the Letter of Credit, or
(vi) any other act or omission to act or delay of any kind by the Administrative Agent or a L/C Issuer, any Lender or any other
Person or any other event or circumstance whatsoever that might, but for the provisions of this Section&nbsp;2.3(c), constitute
a legal or equitable discharge of the Borrower&rsquo;s obligations hereunder or under an Application. None of the Administrative
Agent, the Lenders, or the L/C&nbsp;Issuer shall have any liability or responsibility by reason of or in connection with the issuance
or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances
referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any
draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing
thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the L/C&nbsp;Issuer;
<I>provided</I> that the foregoing shall not be construed to excuse the L/C&nbsp;Issuer from liability to the Borrower to the extent
of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower and each
other Loan Party to the extent permitted by applicable law) suffered by the Borrower or any other Loan Party that are caused by
the L/C&nbsp;Issuer&rsquo;s failure to exercise care when determining whether drafts and other documents presented under a Letter
of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of the L/C&nbsp;Issuer (as determined by a court of competent jurisdiction by final and nonappealable judgment),
the L/C&nbsp;Issuer shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without
limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the L/C&nbsp;Issuer may, in its sole discretion, either accept and
make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the
contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms
of such Letter of Credit.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The
Participating Interests.</I> Each Lender (other than the Lender acting as L/C&nbsp;Issuer) severally and not jointly agrees to
purchase from the L/C Issuer, and the L/C Issuer hereby agrees to sell to each such Lender (a <I>&ldquo;Participating Lender&rdquo;</I>),
an undivided participating interest (a <I>&ldquo;Participating Interest&rdquo;</I>) to the extent of its Revolver Percentage in
each Letter of Credit issued by, and each Reimbursement Obligation owed to, the L/C Issuer. Upon Borrower&rsquo;s failure to pay
any Reimbursement Obligation on the date and at the time required, or if the L/C Issuer is required at any time to return to the
Borrower or to a trustee, receiver, liquidator, custodian or other Person any portion of any payment of any Reimbursement Obligation,
each Participating Lender shall, not later than the Business Day it receives a certificate in the form of Exhibit&nbsp;A hereto
from the L/C Issuer (with a copy to the Administrative Agent) to such effect, if such certificate is received before 1:00&nbsp;p.m.
(Cincinnati time), or not later than 1:00&nbsp;p.m. (Cincinnati time) the following Business Day, if such certificate is received
after such time, pay to the Administrative Agent for the account of the L/C Issuer an amount equal to such Participating Lender&rsquo;s
Revolver Percentage of such unpaid or recaptured Reimbursement Obligation together with interest on such amount accrued from the
date the L/C Issuer made the related payment to the date of such payment by such Participating Lender at a rate per annum equal
to: (i)&nbsp;from the date the L/C Issuer made the related payment to the date two (2)&nbsp;Business Days after payment by such
Participating Lender is due hereunder, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation for each such day and (ii)&nbsp;from the date two&nbsp;(2)
Business Days after the date such payment is due from such Participating Lender to the date such payment is made by such Participating
Lender, the Base Rate in effect for each such day. Each such Participating Lender shall, after making its appropriate payment,
be entitled to receive its Revolver Percentage of each payment received in respect of the relevant Reimbursement Obligation and
of interest paid thereon, with the L/C&nbsp;Issuer retaining its Revolver Percentage thereof as a Lender hereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The several obligations
of the Participating Lenders to the L/C Issuer under this Section&nbsp;2.3 shall be absolute, irrevocable and unconditional under
any and all circumstances and shall not be subject to any set-off, counterclaim or defense to payment which any Participating Lender
may have or has had against the Borrower, the L/C Issuer, the Administrative Agent, any Lender or any other Person. Without limiting
the generality of the foregoing, such obligations shall not be affected by any Default or Event of Default (or by any reduction
or termination of the Revolving Credit Commitment of any Lender with respect to Letters of Credit issued prior to such reduction
or termination), and each payment by a Participating Lender under this Section&nbsp;2.3 shall be made without any offset, abatement,
withholding or reduction whatsoever.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification.</I>
The Participating Lenders shall, severally, to the extent of their respective Revolver Percentages, indemnify the L/C Issuer (to
the extent not reimbursed by the Borrower) against any cost, expense (including reasonable counsel fees and disbursements), claim,
demand, action, loss or liability (except such as result from the L/C Issuer&rsquo;s gross negligence or willful misconduct as
determined by a court of competent jurisdiction by final and nonappealable judgment) that the L/C Issuer may suffer or incur in
connection with any Letter of Credit issued by it. The obligations of the Participating Lenders under this Section&nbsp;2.3(e)
and all other parts of this Section&nbsp;2.3 shall survive termination of this Agreement and of all Applications, Letters of Credit,
and all drafts and other documents presented in connection with drawings thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Manner
of Requesting a Letter of Credit. </I>The Borrower shall provide at least (3) three Business Days&rsquo; advance written notice
to the Administrative Agent (or such lesser notice as the Administrative Agent and the L/C Issuer may agree in their sole discretion)
of each request for the issuance of a Letter of Credit, each such notice to be accompanied by a properly completed and executed
Application for the requested Letter of Credit and, in the case of an extension or amendment or an increase in the amount of a
Letter of Credit, a written request therefor, in a form acceptable to the Administrative Agent and the L/C Issuer, in each case,
together with the fees called for by this Agreement. The Administrative Agent shall promptly notify the L/C Issuer of the Administrative
Agent&rsquo;s receipt of each such notice (and the L/C Issuer shall be entitled to assume that the conditions precedent to any
such issuance, extension, amendment or increase have been satisfied unless notified to the contrary by the Administrative Agent
or the Required Lenders) and the L/C Issuer shall promptly notify the Administrative Agent and the Lenders of the issuance of a
Letter of Credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Conflict
with Application</I>. In the event of any conflict or inconsistency between this Agreement and the terms of any Application, the
terms of this Agreement shall control. Notwithstanding anything else to the contrary in this Agreement, any Application or any
other document related to issuing a Letter of Credit, any grant of a security interest pursuant to any Application shall be null
and void</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applicable
Interest Rates</I>. (a)&nbsp;<I>Base Rate Loans.</I> Each Base Rate Loan made or maintained by a Lender shall bear interest (computed
on the basis of a year of three hundred sixty-five (365) or three hundred sixty-six (366)&nbsp;days, as the case may be, and the
actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced or created by conversion from a
Eurodollar Loan until, but excluding, the date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin
plus the Base Rate from time to time in effect, payable in arrears by the Borrower on each Interest Payment Date and at maturity
(whether by acceleration or otherwise).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Eurodollar
Loans.</I> Each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding
(computed on the basis of a year of three hundred sixty (360)&nbsp;days and actual days elapsed) on the unpaid principal amount
thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until, but excluding, the
date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted LIBOR applicable for
such Interest Period, payable in arrears by the Borrower on each Interest Payment Date and at maturity (whether by acceleration
or otherwise).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Default
Rate.</I> While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry
of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation
Fees and other amounts owing by it at a rate per annum equal to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
any Base Rate Loan and any Swing Loan bearing interest at the Base Rate, the sum of 2.00% per annum plus the Applicable Margin
plus the Base Rate from time to time in effect; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
any Eurodollar Loan and any Swing Loan bearing interest at the Swing Line Lender&rsquo;s Quoted Rate, the sum of 2.00% per annum
plus the rate of interest in effect thereon at the time of such Event of Default until the end of the Interest Period applicable
thereto and, thereafter, at a rate per annum equal to the sum of 2.00% plus the Applicable Margin for Base Rate Loans plus the
Base Rate from time to time in effect;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
any Reimbursement Obligation, the sum of 2.00% <I>plus </I>the amounts due under Section&nbsp;2.3 with respect to such Reimbursement
Obligation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
any Letter of Credit, the sum of 2.00% <I>plus </I>the L/C Participation Fee due under Section&nbsp;2.13(b) with respect to such
Letter of Credit; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
any other amount owing hereunder not covered by clauses (i) through (iv) above, the sum of 2.00% <I>plus</I> the Applicable Margin
<I>plus</I> the Base Rate from time to time in effect;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>provided, however, </I>that in the absence
of acceleration, any increase in interest rates pursuant to this Section and any conversion of Loans into Base Rate Loans shall
be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written
notice to the Borrower (which election may be retroactively effective to the date of such Event of Default). While any Event of
Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with
the consent of the Required Lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rate
Determinations. </I> The Administrative Agent shall determine each interest rate applicable to the Loans and the Reimbursement
Obligations hereunder, and its determination thereof shall be conclusive and binding except in the case of manifest error.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manner
of Borrowing Loans and Designating Applicable Interest Rates</I>. (a)&nbsp;<I>Notice to the Administrative Agent.</I> The Borrower
shall give notice to the Administrative Agent by no later than 10:00 a.m. (Cincinnati time): (i)&nbsp;at least three (3) Business
Days before the date on which the Borrower requests the Lenders to advance a Borrowing of Eurodollar Loans and (ii)&nbsp;on the
date the Borrower requests the Lenders to advance a Borrowing of Base Rate Loans; <I>provided</I>, that the request for a Borrowing
on the Closing Date may, at the discretion of the Administrative Agent, be given later than the times specified herein. The Loans
included in each Borrowing shall bear interest initially at the type of rate specified in such notice. Thereafter, the Borrower
may from time to time elect to change or continue the type of interest rate borne by each Borrowing or, subject to Section&nbsp;2.6,
a portion thereof, as follows: (i)&nbsp;if such Borrowing is of Eurodollar Loans, on the last day of the Interest Period applicable
thereto, the Borrower may continue part or all of such Borrowing as Eurodollar Loans or convert part or all of such Borrowing into
Base Rate Loans or (ii)&nbsp;if such Borrowing is of Base Rate Loans, on any Business Day, the Borrower may convert all or part
of such Borrowing into Eurodollar Loans for an Interest Period or Interest Periods specified by the Borrower. The Borrower shall
give all such notices requesting the advance, continuation or conversion of a Borrowing to the Administrative Agent by email (with
a pdf copy of the applicable fully-executed notice), telephone, or telecopy (which notice shall be irrevocable once given and,
if by telephone, shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent), substantially in the
form attached hereto as Exhibit&nbsp;B (Notice of Borrowing) or Exhibit&nbsp;C (Notice of Continuation/Conversion), as applicable,
or in such other form acceptable to the Administrative Agent. Notice of the continuation of a Borrowing of Eurodollar Loans for
an additional Interest Period or of the conversion of part or all of a Borrowing of Base Rate Loans into Eurodollar Loans must
be given by no later than 10:00&nbsp;a.m. (Cincinnati time) at least three (3)&nbsp;Business Days before the date of the requested
continuation or conversion. All notices concerning the advance, continuation or conversion of a Borrowing shall specify the date
of the requested advance, continuation or conversion of a Borrowing (which shall be a Business Day), the amount of the requested
Borrowing to be advanced, continued or converted, the type of Loans to comprise such new, continued or converted Borrowing and,
if such Borrowing is to be comprised of Eurodollar Loans, the Interest Period applicable thereto. The Borrower agrees that the
Administrative Agent may rely on any such email, telephonic or telecopy notice given by any person the Administrative Agent in
good faith believes is an Authorized Representative without the necessity of independent investigation (the Borrower hereby indemnifies
the Administrative Agent from any liability or loss ensuing from such reliance) and, in the event any such notice by telephone
conflicts with any written confirmation, such telephonic notice shall govern if the Administrative Agent has acted in reliance
thereon.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Notice
to the Lenders</I>. The Administrative Agent shall give prompt telephonic, telecopy, or email notice to each Lender of any notice
from the Borrower received pursuant to Section&nbsp;2.5(a) above and, if such notice requests the Lenders to make Eurodollar Loans,
the Administrative Agent shall give notice to the Borrower and each Lender of the interest rate applicable thereto promptly after
the Administrative Agent has made such determination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Borrower&rsquo;s
Failure to Notify; Automatic Continuations and Conversions; Automatic Extensions of Revolving Loans if Reimbursement Obligations
Not Repaid</I>. If the Borrower fails to give proper notice of the continuation or conversion of any outstanding Borrowing of Eurodollar
Loans before the last day of its then current Interest Period within the period required by Section&nbsp;2.5(a) or, whether or
not such notice has been given, one or more of the conditions set forth in Section&nbsp;3.1 for the continuation or conversion
of a Borrowing of Eurodollar Loans would not be satisfied, and such Borrowing is not prepaid in accordance with Section&nbsp;2.8(a),
such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans. In the event the Borrower fails to give notice
pursuant to Section&nbsp;2.5(a) of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative
Agent by 1:00&nbsp;p.m. (Cincinnati time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement
Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base
Rate Loans under the Revolving Credit (or, at the option of the Administrative Agent, under the Swing Line) on such day in the
amount of the Reimbursement Obligation then due, which Borrowing, if otherwise available hereunder, shall be applied to pay the
Reimbursement Obligation then due.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Disbursement
of Loans</I>. Not later than 1:00&nbsp;p.m. (Cincinnati time) on the date of any requested advance of a new Borrowing, subject
to Section&nbsp;3, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at
the principal office of the Administrative Agent in Cincinnati, Ohio. The Administrative Agent shall make the proceeds of each
new Borrowing available to the Borrower at the Administrative Agent&rsquo;s principal office in Cincinnati, Ohio.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Administrative
Agent Reliance on Lender Funding.</I> Unless the Administrative Agent shall have received notice from a Lender prior to (or, in
the case of a Borrowing of Base Rate Loans, by 1:00&nbsp;p.m. (Cincinnati time) on) the date on which such Lender is scheduled
to make available to the Administrative Agent of its share of a Borrowing (which notice shall be effective upon receipt) that such
Lender does not intend to make such share available, the Administrative Agent may assume that such Lender has made such share available
in accordance with Section&nbsp;2.5(d) when due and the Administrative Agent, in reliance upon such assumption, may (but shall
not be required to) make available to the Borrower a corresponding amount (each such advance, a <I>&ldquo;Disproportionate Advance&rdquo;</I>)
and, if any Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, such Lender
shall, on demand, make available to the Administrative Agent the Disproportionate Advance attributable to such Lender together
with interest thereon in respect of each day during the period commencing on the date such Disproportionate Advance was made available
to the Borrower and ending on (but excluding) the date such Lender makes available such Disproportionate Advance to the Administrative
Agent at a rate per annum equal to: (i)&nbsp;from the date the Disproportionate Advance was made by the Administrative Agent to
the date two (2)&nbsp;Business Days after payment by such Lender is due hereunder, the greater of, for each such day, (x) the Federal
Funds Rate and (y) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation, <I>plus</I> any standard administrative or processing fees charged by the Administrative Agent in connection with
such Lender&rsquo;s non-payment and (ii)&nbsp;from the date two (2)&nbsp;Business Days after the date such share of the applicable
Borrowing is due from such Lender to the date such payment is made by such Lender, the Base Rate in effect for each such day. If
such amount is not received from such Lender by the Administrative Agent immediately upon demand, the Borrower will, promptly following
written demand from the Administrative Agent, repay to the Administrative Agent the proceeds of the Loan attributable to such Disproportionate
Advance with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such
payment being considered a payment or prepayment of a Loan under Section&nbsp;8.1 so that the Borrower will have no liability under
such Section with respect to such payment. If the Borrower and such Lender shall pay interest to the Administrative Agent for the
same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by
the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount
so paid shall constitute such Lender&rsquo;s Loan included in such Borrowing. Any payment by the Borrower under this Section shall
be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative
Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minimum
Borrowing Amounts; Maximum Eurodollar Loans</I>. Each Borrowing of Base Rate Loans advanced under a Credit shall be in an amount
not less than $500,000 or such greater amount that is an integral multiple of $50,000. Each Borrowing of Eurodollar Loans advanced,
continued or converted under a Credit shall be in an amount equal to $1,000,000 or such greater amount that is an integral multiple
of $100,000. Without the Administrative Agent&rsquo;s consent, there shall not be more than five Borrowings of Eurodollar Loans
outstanding at any one time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturity
of Loans. </I>(a)&nbsp;<I>Scheduled Payments of Term Loans.</I> The Borrower shall make principal payments on the Term Loans in
equal installments on the last Business Day of each March, June, September, and December in each year, commencing with the calendar
quarter ending September&nbsp;30,&nbsp;2016 (unless any such day is not a Business Day, in which event such payment is due on the
immediately preceding Business Day) with the amount of each such principal installment then due equal to the amount expressed next
to the due date (unless any such day is not a Business Day, in which event such payment is due on the immediately preceding Business
Day) for such installment on the following schedule:</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Principal
    Installment Due<BR> Date</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Principal
    Installment<BR> Payment Amount</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: justify">September 30, 2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 20%; text-align: right">750,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 31, 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">June 30, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">September 30, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 31, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">June 30, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">September 30, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 31, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 31, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">June 30, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">September 30, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 31, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 31, 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">June 30, 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">September 30, 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 31, 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 31, 2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">June 30, 2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">; it being further agreed that a final
payment comprised of all principal and interest not sooner paid on the Term Loans, shall be due and payable on July 20, 2021, the
final maturity thereof. Each principal payment on the Term Loans shall be applied to the Lenders holding the Term Loans pro rata
based upon their Term Loan Percentages.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Revolving
Loans and Swing Loans.</I> Each Revolving Loan and each Swing Loan, both for principal and interest not sooner paid, shall mature
and become due and payable by the Borrower on the Revolving Credit Termination Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepayments.
</I>(a)<I>&nbsp;Voluntary</I>. The Borrower may prepay without premium or penalty (except as set forth in Section&nbsp;8.1 below)
and in whole or in part any Borrowing of Eurodollar Loans at any time upon three (3)&nbsp;Business Days prior notice by the Borrower
to the Administrative Agent or, in the case of a Borrowing of Base Rate Loans or Swing Loans bearing interest at the Swing Line
Lender&rsquo;s Quoted Rate, notice delivered by the Borrower to the Administrative Agent no later than 10:00&nbsp;a.m. (Cincinnati
time) on the date of prepayment (or, in any case, such shorter time period then agreed to by the Administrative Agent), such prepayment
to be made by the payment of the principal amount to be prepaid and, in the case of any Term Loans or Eurodollar Loans, accrued
interest thereon to the date fixed for prepayment plus any amounts due the Lenders under Section&nbsp;8.1; <I>provided, however,</I>
the Borrower may not partially repay a Borrowing (i)&nbsp;if such Borrowing is of Base Rate Loans (other than a Swing Loan), in
a principal amount less than $500,000, (ii)&nbsp;if such Borrowing is of Eurodollar Loans, in a principal amount less than $1,000,000,
and (iii)&nbsp;in each case, unless it is in an amount such that the minimum amount required for a Borrowing pursuant to Section&nbsp;2.6
remains outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Mandatory</I>.
(i)&nbsp;If the Borrower or any Subsidiary shall at any time or from time to time make or agree to make a Disposition or shall
suffer an Event of Loss with respect to any Property which results in Net Cash Proceeds in excess of $100,000 individually or $200,000
on a cumulative basis in any fiscal year of the Borrower, then (x)&nbsp;the Borrower shall promptly notify the Administrative Agent
of such proposed Disposition or Event of Loss (including the amount of the estimated Net Cash Proceeds to be received by the Borrower
or such Subsidiary in respect thereof) and (y)&nbsp;promptly upon receipt by the Borrower or the Subsidiary of the Net Cash Proceeds
of such Disposition or such Event of Loss, the Borrower shall prepay the Obligations in an aggregate amount equal to 100% of the
amount of all such Net Cash Proceeds in excess of $100,000 individually or $200,000 on a cumulative basis in any fiscal year of
the Borrower; <I>provided</I> that in the case of each Disposition and Event of Loss, if the Borrower states in its notice of such
event that the Borrower or the applicable Subsidiary intends to invest or reinvest, as applicable, within one hundred eighty (180)
days of the applicable Disposition or receipt of Net Cash Proceeds from an Event of Loss, the Net Cash Proceeds thereof in assets
used or useful in the business, then so long as no Default or Event of Default then exists, the Borrower shall not be required
to make a mandatory prepayment under this Section in respect of such Net Cash Proceeds to the extent such Net Cash Proceeds are
actually invested or reinvested as described in the Borrower&rsquo;s notice within such one hundred eighty (180) day period. Promptly
after the end of such one hundred eighty (180) day period, the Borrower shall notify the Administrative Agent whether the Borrower
or such Subsidiary has invested or reinvested such Net Cash Proceeds as described in the Borrower&rsquo;s notice, and to the extent
such Net Cash Proceeds have not been so invested or reinvested, the Borrower shall promptly prepay the Obligations in the amount
of such Net Cash Proceeds in excess of $100,000 individually or $200,000 on a cumulative basis in any fiscal year of the Borrower
not so invested or reinvested. The amount of each such prepayment shall be applied first to the outstanding Term Loans until paid
in full, then to the Revolving Loans until paid in full (without a permanent reduction of the Revolving Commitments), and then
to the Swing Loans. If the Administrative Agent or the Required Lenders so request, all proceeds of such Disposition or Event of
Loss shall be deposited with the Administrative Agent and held by it in the Collateral Account. So long as no Default or Event
of Default exists, the Administrative Agent is authorized to disburse amounts representing such proceeds from the Collateral Account
to or at the Borrower&rsquo;s direction for application to or reimbursement for the costs of replacing, rebuilding or restoring
such Property.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
after the Closing Date the Borrower or any Subsidiary shall issue any new Ownership Interests (other than Excluded Equity Issuances)
or incur or assume any Indebtedness other than that permitted by Section 6.11, the Borrower shall promptly notify the Administrative
Agent of the estimated Net Cash Proceeds of such issuance, incurrence or assumption to be received by or for the account of the
Borrower or such Subsidiary in respect thereof. Promptly upon receipt by the Borrower or such Subsidiary of Net Cash Proceeds of
such issuance, incurrence or assumption the Borrower shall prepay the Obligations in the amount of such Net Cash Proceeds. The
amount of each such prepayment shall be applied first to the outstanding Term Loans until paid in full, and then to the Revolving
Loans until paid in full (without a permanent reduction of the Revolving Commitments), then to the Swing Loans. The Borrower acknowledges
that its performance hereunder shall not limit the rights and remedies of the Lenders for any breach of Section&nbsp;6.11<B> </B>or
any other terms of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
at any time the sum of the unpaid principal balance of the Revolving Loans, Swing Loans, and the L/C&nbsp;Obligations then outstanding
shall be in excess of the Borrowing Base as then determined and computed, the Borrowers shall immediately upon notice (and, in
any event, within one (1) Business Day of such notice) pay over the amount of the excess to the Administrative Agent for the account
of the Lenders as and for a mandatory prepayment on such Obligations, with each such prepayment first to be applied to the Revolving
Loans until payment in full thereof (without a permanent reduction of the Revolving Commitments), then to the Swing Loans until
payment in full thereof, with any remaining balance to be held by the Administrative Agent in the Collateral Account as security
for the Obligations owing with respect to the Letters of Credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
after the Closing Date the Borrower or any Subsidiary shall issue any Subordinated Debt, the Borrower shall promptly notify the
Administrative Agent of the estimated Net Cash Proceeds of such issuance to be received by or for the account of the Borrower or
such Subsidiary in respect thereof. Promptly upon receipt by the Borrower or such Subsidiary of Net Cash Proceeds of such issuance,
the Borrower shall prepay the Obligations in the amount of such Net Cash Proceeds. The amount of each such prepayment shall be
applied first to the outstanding Term Loans until paid in full, and then to the Revolving Loans until paid in full (without a permanent
reduction of the Revolving Commitments), then to the Swing Loans. The Borrower acknowledges that its performance hereunder shall
not limit the rights and remedies of the Lenders for any breach of Section&nbsp;6.11 or any other terms of this Agreement.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
or before May&nbsp;1 of each year, beginning May 1, 2018, the Borrower shall prepay the then-outstanding Loans by an amount equal
to 50% of Excess Cash Flow of Borrower and its Subsidiaries for the most recently completed fiscal year of the Borrower; <I>provided
</I>that, if at any time (A) the Senior Leverage Ratio is less than 2.00:1.00 as of the end of two consecutive fiscal quarters
of the Parent and the Borrower has delivered to the Administrative Agent the compliance certificate required by Section 6.1(c)
evidencing such computations of the Senior Leverage Ratio and (B) no Default or Event of Default has occurred and is continuing
on such date, then the Borrower shall prepay the then-outstanding Loans by an amount equal to 25% of Excess Cash flow for the duration
of this Agreement; <I>provided, further</I> that no Excess Cash Flow payment shall be required under this Section 2.8(b)(v) for
the duration of this Agreement to the extent that (A) the Senior Leverage Ratio is less than 1.50:1.00 as of the end of two consecutive
fiscal quarters of the Parent and the Borrower has delivered to the Administrative Agent the compliance certificate required by
Section 6.1(c) evidencing such computations of the Senior Leverage Ratio and (B) no Default or Event of Default has occurred and
is continuing on such dates.<B> </B>The amount of each such prepayment shall be applied first to the outstanding Term Loans until
paid in full, then to the Revolving Loans until paid in full (without a permanent reduction of the Revolving Commitments), and
then to the Swing Loans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower shall, on each date the Revolving Credit Commitments are reduced pursuant to Section&nbsp;2.10, prepay the Revolving Loans
and, if necessary, Swing Loans and, if necessary, in accordance with Section 4.5, Cash Collateralize the L/C&nbsp;Obligations by
the amount, if any, necessary to reduce the sum of the aggregate principal amount of Revolving Loans, Swing Loans and L/C&nbsp;Obligations
then outstanding to the amount to which the Revolving Credit Commitments have been so reduced.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the occurrence of a Change of Control, concurrently with the closing of any such transaction, at the election of the Administrative
Agent and the Required Lenders, the Borrower shall (A) repay the Loans in full by payment of the outstanding principal of and the
accrued interest on all outstanding Loans, together with all other amounts payable under the Loan Documents and (B) Cash Collateralize
105% of the then outstanding amount of all L/C Obligations; <I>provided</I> that in the event the Mezzanine Subordinated Debt is
accelerated under Section 2(b)(v) of the Mezzanine Loan Agreement, the Borrower shall immediately and automatically (x) repay the
Loans in full by payment of the outstanding principal of and the accrued interest on all outstanding Loans, together with all other
amounts payable under the Loan Documents and (y) Cash Collateralize 105% of the then outstanding amount of all L/C Obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
the Borrower otherwise directs, prepayments of Loans under this Section&nbsp;2.8(b) shall be applied first to Borrowings of Base
Rate Loans until payment in full thereof with any balance applied to Borrowings of Eurodollar Loans in the order in which their
Interest Periods expire. Each prepayment of Loans under this Section&nbsp;2.8(b) shall be made by the payment of the principal
amount to be prepaid and, in the case of any Term Loans, Swing Loans or Eurodollar Loans, accrued interest thereon to the date
of prepayment together with any amounts due the Lenders under Section&nbsp;8.1. Each prefunding of L/C&nbsp;Obligations shall be
made in accordance with Section&nbsp;4.5.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Lender
Notification; Payment Application</I>. The Administrative Agent will promptly advise each Lender of any notice of prepayment it
receives from the Borrower, and in the case of any partial prepayment, such prepayment shall be applied to the remaining amortization
payments on the relevant Loans in the inverse order of maturity.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Place
and Application of Payments</I>. (a) <I>General Payments</I>. All payments of principal of and interest on the Loans and the Reimbursement
Obligations, and of all other Obligations payable by the Borrower under this Agreement and the other Loan Documents, shall be made
by the Borrower to the Administrative Agent by no later than 12:00&nbsp;Noon (Cincinnati time) on the due date thereof at the office
of the Administrative Agent in Cincinnati, Ohio (or such other location as the Administrative Agent may designate to the Borrower
in writing) for the benefit of the Lender or Lenders entitled thereto. Any payments received after such time shall be deemed to
have been received by the Administrative Agent on the next Business Day. All such payments shall be made in Dollars, in immediately
available funds at the place of payment, in each case without set-off or counterclaim. The Administrative Agent will promptly thereafter
cause to be distributed like funds relating to the payment of principal or interest on Loans and on Reimbursement Obligations in
which the Lenders have purchased Participating Interests ratably to the Lenders and like funds relating to the payment of any other
amount payable to any Lender to such Lender, in each case to be applied in accordance with the terms of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payments
by Borrower; Presumptions by Administrative Agent. </I>Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder
that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case
may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or L/C Issuer, with interest thereon, for each day from and including the date such amount is distributed to it to but excluding
the date of payment to the Administrative Agent, at a rate per annum equal to: (i) from the date the distribution was made to the
date two (2) Business Days after payment by such Lender is due hereunder, at the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation and (ii) from the date two (2)
Business Days after the date such payment is due from such Lender to the date such payment is made by such Lender, the Base Rate
then in effect for each such date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Application
of Collateral Proceeds Before Default</I>. Prior to the occurrence of an Event of Default, subject to Section 2.8(b), all payments
and collections received in respect of the Obligations and all proceeds of Collateral shall (subject to the other terms of this
Agreement) be applied by the Administrative Agent against the outstanding Obligations as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>first</I>,
to any outstanding fees, charges, and expenses then due to the Administrative Agent and the Lenders;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>second</I>,
to outstanding interest charges then due in respect of the Obligations;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>third</I>,
to the outstanding principal balance of the Swing Loans;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>fourth</I>,
to the outstanding principal balance of the Revolving Loans and Reimbursement Obligations in respect of amounts drawn under Letters
of Credit;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>fifth</I>,
to the outstanding principal balance then scheduled as due in respect of the Term Loans; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>finally</I>,
to be made available to the Borrower or whoever else may be lawfully entitled thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Application
of Collateral Proceeds after Default</I>. Anything contained herein to the contrary notwithstanding, (x)&nbsp;pursuant to the exercise
of remedies under Sections&nbsp;7.2 and 7.3 or (y)&nbsp;after written instruction by the Required Lenders after the occurrence
and during the continuation of an Event of Default, all payments and collections received in respect of the Obligations and all
proceeds of the Collateral received, in each instance, by the Administrative Agent or any of the Lenders shall be remitted to the
Administrative Agent and distributed as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>first,</I>
to the payment of any outstanding costs and expenses incurred by the Administrative Agent, and any security trustee therefor, in
monitoring, verifying, protecting, preserving or enforcing the Liens on the Collateral, in protecting, preserving or enforcing
rights under the Loan Documents, which the Borrower has agreed to pay the Administrative Agent under Section&nbsp;10.12 (such funds
to be retained by the Administrative Agent for its own account unless it has previously been reimbursed for such costs and expenses
by the Lenders, in which event such amounts shall be remitted to the Lenders to reimburse them for payments theretofore made to
the Administrative Agent);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>second,</I>
to the payment of principal and interest on the Swing Loans until paid in full;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>third,</I>
to the payment of any outstanding interest (other than on Swing Loans) and fees due under the Loan Documents to be allocated pro
rata in accordance with the aggregate unpaid amounts owing to each holder thereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>fourth,</I>
to the payment of principal on the Loans (other than Swing Loans) and unpaid Reimbursement Obligations, together with Cash Collateral
for any outstanding L/C&nbsp;Obligations pursuant to Section&nbsp;7.4 (until the Administrative Agent is holding Cash Collateral
equal to 105% of the then outstanding amount of all such L/C&nbsp;Obligations), the aggregate amount paid to, or held as collateral
security for, the Lenders to be allocated pro rata in accordance with the aggregate unpaid amounts owing to each holder thereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>fifth,</I>
to the payment of all other Secured Obligations (including Bank Product Liability and Hedging Liability) to be allocated pro rata
in accordance with the aggregate unpaid amounts owing to each holder thereof; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>sixth,</I>
to the Borrower or whoever else may be lawfully entitled thereto.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything
contained herein to the contrary, no proceeds of any Collateral or payment made under or in respect of any Guaranty Agreement received
from any person who is not an &ldquo;eligible contract participant&rdquo; as defined in the Commodities Exchange Act and regulations
thereunder shall be applied to the payment of any Hedging Liability, but appropriate adjustments shall be made with respect to
payments from the Loan Parties to preserve the allocation to Hedging Liability otherwise set forth in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voluntary
Commitment Terminations</I>. The Borrower shall have the right at any time and from time to time, upon three (3)&nbsp;Business
Days prior written notice to the Administrative Agent (or such shorter period of time agreed to by the Administrative Agent), to
terminate the Revolving Credit Commitments in whole or in part, any partial termination to be (a)&nbsp;in an amount not less than
$1,000,000 or any greater amount that is an integral multiple of $100,000 and (b)&nbsp;allocated ratably among the Lenders in proportion
to their respective Revolver Percentages, <I>provided</I> that the Revolving Credit Commitments may not be reduced to an amount
less than the sum of the aggregate principal amount of Revolving Loans, Swing Loans and of L/C&nbsp;Obligations then outstanding.
Any termination of the Revolving Credit Commitments below the L/C&nbsp;Sublimit then in effect shall reduce the L/C&nbsp;Sublimit
by a like amount. Any termination of the Commitments below the Swing Line Sublimit then in effect shall reduce the Swing Line Sublimit
by a like amount. The Administrative Agent shall give prompt notice to each Lender of any such termination of the Revolving Credit
Commitments. Any termination of the Revolving Credit Commitments pursuant to this Section&nbsp;2.10 may not be reinstated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swing
Loans</I>. (a)&nbsp;<I>Generally.</I> Subject to the terms and conditions hereof, as part of the Revolving Credit, the Swing Line
Lender may, in its discretion, make loans in Dollars to the Borrower under the Swing Line (individually a <I>&ldquo;Swing Loan&rdquo;</I>
and collectively the <I>&ldquo;Swing Loans&rdquo;</I>) which shall not in the aggregate at any time outstanding exceed the Swing
Line Sublimit; <I>provided, however,</I> the sum of the aggregate principal amount of Revolving Loans, Swing Loans<B> </B>and L/C&nbsp;Obligations
at any time outstanding shall not exceed the lesser of (i) the sum of all Revolving Credit Commitments in effect at such time and
(ii) the Borrowing Base as then determined and computed. The Swing Loans may be availed of by the Borrower from time to time and
borrowings thereunder may be repaid and used again during the period ending on the Revolving Credit Termination Date; <I>provided</I>
that each Swing Loan must be repaid on the last day of the Interest Period applicable thereto. Notwithstanding anything herein
to the contrary, the Swing Line Lender shall be under no obligation to make any Swing Loan if any Lender is at such time a Defaulting
Lender hereunder unless the Borrower or such Defaulting Lender has provided Cash Collateral in compliance with Section 4.5 sufficient
to eliminate the Swing Line Lender&rsquo;s risk with respect to such Defaulting Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Interest
on Swing Loans</I>. Each Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum
equal to, at the option of the Borrower, (i)&nbsp;the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under
the Revolving Credit as from time to time in effect (computed on the basis of a year of three hundred sixty-five (365) or three
hundred sixty-six (366)&nbsp;days, as the case may be, for the actual number of days elapsed) or (ii)&nbsp;the Swing Line Lender&rsquo;s
Quoted Rate (computed on the basis of a year of three hundred sixty (360)&nbsp;days for the actual number of days elapsed). Interest
on each Swing Loan shall be due and payable prior to such maturity on the last day of each Interest Period applicable thereto.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Requests
for Swing Loans</I>. The Borrower shall give the Administrative Agent prior notice (which may be written or oral, but if oral,
promptly confirmed in writing), no later than 10:00&nbsp;a.m. (Cincinnati time) on the date upon which the Borrower requests that
any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Administrative
Agent shall promptly advise the Swing Line Lender of any such notice received from the Borrower. Within 30&nbsp;minutes after receiving
such notice, the Swing Line Lender shall in its discretion quote an interest rate to the Borrower at which the Swing Line Lender
would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for
a given Interest Period being herein referred to as <I>&ldquo;Swing Line Lender&rsquo;s Quoted Rate&rdquo;</I>). The Borrower acknowledges
and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Borrower does not so immediately
accept the Swing Line Lender&rsquo;s Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Swing Line
Lender&rsquo;s Quoted Rate shall be deemed immediately withdrawn<B> </B>and such Swing Loan shall bear interest at the rate per
annum determined by adding the Applicable Margin for Base Rate Loans under the Revolving Credit to the Base Rate as from time to
time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower
on the date so requested at the offices of the Swing Line Lender in Cincinnati, Ohio. Anything contained in the foregoing to the
contrary notwithstanding (i)&nbsp;the obligation of the Swing Line Lender to make Swing Loans shall be subject to all of the terms
and conditions of this Agreement and (ii)&nbsp;the Swing Line Lender shall not be obligated to make more than one Swing Loan during
any one day.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Refunding
of Swing Loans</I>. In its sole and absolute discretion, the Swing Line Lender may at any time, on behalf of the Borrower (which
the Borrower hereby irrevocably authorizes the Swing Line Lender to act on its behalf for such purpose) and with notice to the
Borrower and the Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount
equal to such Lender&rsquo;s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given.
Unless an Event of Default described in Section&nbsp;7.1(j) or 7.1(k) exists with respect to the Borrower, regardless of the existence
of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative
Agent, in immediately available funds, at the Administrative Agent&rsquo;s principal office in Cincinnati, Ohio, before 12:00&nbsp;noon
(Cincinnati time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans
shall be immediately applied to repay the outstanding Swing Loans.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Participations</I>.
If any Lender refuses or otherwise fails to make a Revolving Loan when requested by the Swing Line Lender pursuant to Section&nbsp;2.11(d)
above (because an Event of Default described in Section&nbsp;7.1(j) or 7.1(k) exists with respect to the Borrower or otherwise),
such Lender will, by the time and in the manner such Revolving Loan was to have been funded to the Administrative Agent, purchase
from the Swing Line Lender an undivided participating interest in the outstanding Swing Loans in an amount equal to its Revolver
Percentage of the aggregate principal amount of Swing Loans that were to have been repaid with such Revolving Loans; <I>provided</I>
that the foregoing purchases shall be deemed made hereunder without any further action by such Lender, the Swing Line Lender or
the Administrative Agent. Each Lender that so purchases a participation in a Swing Loan shall thereafter be entitled to receive
its Revolver Percentage of each payment of principal received on the Swing Loan and of interest received thereon accruing from
the date such Lender funded to the Swing Line Lender its participation in such Loan. The several obligations of the Lenders under
this Section shall be absolute, irrevocable and unconditional under any and all circumstances whatsoever and shall not be subject
to any set-off, counterclaim or defense to payment which any Lender may have or have had against the Borrower, any other Lender
or any other Person whatsoever. Without limiting the generality of the foregoing, such obligations shall not be affected by any
Default or Event of Default or by any reduction or termination of the Revolving Credit Commitment of any Lender, and each payment
made by a Lender under this Section shall be made without any offset, abatement, withholding or reduction whatsoever.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Sweep
Arrangements.</I> Notwithstanding the requirements set forth in Section&nbsp;2.11(c) above, the Administrative Agent may make Swing
Loans (bearing interest at the Base Rate plus the Applicable Margin for Base Rate Loans from time to time in effect) in amounts
necessary to honor checks and other orders for the payment of monies made by the Borrower (or any other Loan Party) and presented
to the Administrative Agent for payment and other Bank Product Liability owing by the Borrower (or any other Loan Party) to the
Administrative Agent. The Borrower acknowledges and agrees that the making of such Swing Loans by the Administrative Agent under
this Section&nbsp;2.11(f) shall be subject in all respects to the provisions of this Agreement as if each such Loan were made in
response to a notice requesting such Loan made in accordance with Section&nbsp;2.11(c) hereof and shall be subject to the requirements
of Section&nbsp;3 hereof. All actions taken by the Administrative Agent pursuant to the provisions of this Section&nbsp;2.11(f)
shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. For the purpose of calculating
the aggregate principal balance of Swing Loans outstanding hereunder, Swing Loans shall be deemed to be paid on the date payments
or collections, as the case may be, are applied by the Administrative Agent to such Swing Loans. The Administrative Agent shall
apply all payments and collections received by it in respect of the Swing Loans in reduction of the Swing Loans promptly after
the Administrative Agent deems such sums to be collected in good funds in accordance with its then standard criteria for determining
availability of funds. Notwithstanding the foregoing, if any item credited or payment or collection received by the Administrative
Agent in reduction of the Swing Loans is not honored or finally collected, the Administrative Agent may reverse any provisional
credit which has been given for the item and make appropriate adjustments to the amount of interest and principal otherwise due
hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evidence
of Indebtedness</I>. (a)&nbsp;Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing
the Indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts
of principal and interest payable and paid to such Lender from time to time hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent shall also maintain accounts in which it will record (i)&nbsp;the amount of each Loan made hereunder, the
type thereof and, with respect to Eurodollar Loans and Swing Loans, the Interest Period with respect thereto, (ii)&nbsp;the amount
of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii)&nbsp;the
amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender&rsquo;s share thereof.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
entries maintained in the accounts maintained pursuant to Sections&nbsp;2.12(a) and (b) above shall be <I>prima facie</I> evidence
of the existence and amounts of the Obligations therein recorded (absent manifest error); <I>provided, however, </I>that the failure
of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation
of the Borrower to repay the Obligations in accordance with their terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Lender may request that its Loans be evidenced by a promissory note or notes in the forms of Exhibit D-1 (in the case of its Term
Loan and referred to herein as a <I>&ldquo;Term Note&rdquo;</I>), D-2 (in the case of its Revolving Loans and referred to herein
as a <I>&ldquo;Revolving Note&rdquo;</I>), or D-3 (in the case of its Swing Loans and referred to herein as a <I>&ldquo;Swing Note&rdquo;</I>),
as applicable. In such event, the Borrower shall prepare, execute and deliver to such Lender a Note payable to the order of such
Lender in the amount of the Term Loan, Revolving Credit Commitment, or Swing Line Sublimit, as applicable. Thereafter, the Loans
evidenced by such Note or Notes and interest thereon shall at all times (including after any assignment pursuant to Section&nbsp;10.9)
be represented by one or more Notes payable to the order of the payee named therein or any assignee pursuant to Section&nbsp;10.9,
except to the extent that any such Lender or assignee subsequently returns any such Note for cancellation and requests that such
Loans once again be evidenced as described in subsections&nbsp;(a) and (b) above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees</I>.
(a)&nbsp;<I>Revolving Credit Commitment Fee</I>. The Borrower shall pay to the Administrative Agent for the ratable account of
the Lenders according to their Revolver Percentages a commitment fee at the rate per annum equal to the Applicable Margin (computed
on the basis of a year of three hundred sixty (360)&nbsp;days and the actual number of days elapsed) on the average daily Unused
Revolving Credit Commitments. Such commitment fee shall be payable quarterly in arrears on the last Business Day of each March,
June, September, and December in each year (commencing on the first such date occurring after the Closing Date) and on the Revolving
Credit Termination Date, unless the Revolving Credit Commitments are terminated in whole on an earlier date, in which event the
commitment fee for the period to the date of such termination in whole shall be paid on the date of such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Letter
of Credit Fees.</I> On the date of issuance or extension, or increase in the amount, of any Letter of Credit pursuant to Section&nbsp;2.3,
the Borrower shall pay to the L/C&nbsp;Issuer for its own account a fronting fee equal to .125% of the face amount of (or of the
increase in the face amount of) such Letter of Credit. Quarterly in arrears, on the last Business Day of each March, June, September,
and December, commencing on the first such date occurring after the Closing Date, the Borrower shall pay to the Administrative
Agent, for the ratable benefit of the Lenders according to their Revolver Percentages, a letter of credit fee (the <I>&ldquo;L/C
Participation Fee&rdquo;</I>) at a rate per annum equal to the Applicable Margin (computed on the basis of a year of three hundred
sixty (360)&nbsp;days and the actual number of days elapsed) in effect during each day of such quarter applied to the daily average
face amount of Letters of Credit outstanding during such quarter. In addition, the Borrower shall pay to the L/C Issuer for its
own account the L/C Issuer&rsquo;s standard issuance, drawing, negotiation, amendment, transfer and other administrative fees for
each Letter of Credit. Such standard fees referred to in the preceding sentence may be established by the L/C Issuer from time
to time.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Administrative
Agent Fees</I>. The Borrower shall pay to the Administrative Agent, for its own use and benefit, the fees agreed to between the
Administrative Agent and the Borrower in that certain fee letter dated June&nbsp;6,&nbsp;2016, or as otherwise agreed to in writing
between the Borrower and the Administrative Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Account
Debit.</I> The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower&rsquo;s deposit accounts
maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; <I>provided</I>
that<I> </I>the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the
Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent&rsquo;s failure
to do so.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditions
Precedent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligation of each
Lender to advance, continue or convert any Loan (other than the continuation of, or conversion into, a Base Rate Loan) or of the
L/C Issuer to issue, extend the expiration date (including by not giving notice of non-renewal) of or increase the amount of any
Letter of Credit under this Agreement, shall be subject to satisfaction (or waiver) of the following conditions precedent:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Section&nbsp;3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Credit Events</I>. At the time of each Credit Event hereunder:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
of the representations and warranties set forth herein and in the other Loan Documents shall be and remain true and correct (or,
in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of
said time, except to the extent the same expressly relate to an earlier date (and in such case shall be true and correct (or, in
the case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of such
earlier date);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Default or Event of Default shall have occurred and be continuing or would occur as a result of such Credit Event;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;after
giving effect to such requested extension of credit, the aggregate principal amount of all Revolving Loans, Swing Loans and L/C
Obligations under this Agreement shall not exceed the lesser of (i) the aggregate Revolving Credit Commitments as of such date
and (ii) the Borrowing Base as then determined and computed;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Borrowing, the Administrative Agent shall have received the notice required by Section&nbsp;2.5, in the case of the
issuance of any Letter of Credit the L/C&nbsp;Issuer shall have received a duly completed Application for such Letter of Credit
together with any fees required to be paid at such time under Section&nbsp;2.13, and, in the case of an extension or increase in
the amount of a Letter of Credit, the L/C Issuer shall have received a written request therefor in a form reasonably acceptable
to the L/C&nbsp;Issuer together with fees required to be paid at such time under Section&nbsp;2.13; and</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Credit Event shall not violate any Legal Requirement applicable to the Administrative Agent, the L/C Issuer, or any Lender (including
Regulation&nbsp;U of the Board of Governors of the Federal Reserve System) as then in effect; <I>provided</I> that, any such Legal
Requirement shall not entitle any Lender that is not affected thereby to not honor its obligation hereunder to advance, continue
or convert any Loan or, in the case of the L/C Issuer, to extend the expiration date of or increase the amount of any Letter of
Credit hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each request for a
Borrowing hereunder and each request for the issuance of, increase in the amount of, or extension of the expiration date of, a
Letter of Credit shall be deemed to be a representation and warranty by the Borrower on the date of such Credit Event as to the
facts specified in subsections&nbsp;(a) through (d), both inclusive, of this Section; <I>provided, however, </I>that the Lenders
may continue to make advances under the Revolving Credit, in the sole discretion of the Lenders with Revolving Credit Commitments,
notwithstanding the failure of the Borrower to satisfy one or more of the conditions set forth above and any such advances so made
shall not be deemed a waiver of any Default or Event of Default or other condition set forth above that may then exist. For the
avoidance of doubt, no Lender shall be required to make any Loans in the event that any of the conditions set forth in this Section&nbsp;3.1
are not satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Initial
Credit Event.</I> Before or concurrently with the initial Credit Event:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received this Agreement duly executed by the Loan Parties and the Lenders;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received for each Lender requesting Notes, such Lender&rsquo;s duly executed Notes of the Borrower,
dated the date hereof and otherwise in compliance with the provisions of Section&nbsp;2.12(d);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received (i)&nbsp;the Security Agreement duly executed by the Loan Parties, together with (A)&nbsp;original
stock certificates or other similar instruments representing all of the issued and outstanding Ownership Interests in each Subsidiary
as of the Closing Date, to the extent such interests are certificated, (B)&nbsp;stock powers or similar transfer powers executed
in blank and undated for the Collateral consisting of the Ownership Interests in each Subsidiary, (C)&nbsp;UCC financing statements
to be filed against the Loan Parties, as debtors, in favor of the Administrative Agent, as secured party, (D)&nbsp;patent, trademark,
and copyright collateral agreements, to the extent requested by the Administrative Agent; and (E)&nbsp;Collateral Access Agreements,
to the extent requested by the Administrative Agent; and (ii)&nbsp;a duly completed and executed Perfection Certificate;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received the Mezzanine Debt Subordination Agreement duly executed by the Mezzanine Agent and the
other parties thereto, together with certified copies of the Mezzanine Loan Agreement and the other Mezzanine Debt Documents in
effect on the Closing Date, which documents shall be in form and substance reasonably satisfactory to the Administrative Agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received the Surety Intercreditor Agreement duly executed by the Bonding Company and the other
parties thereto, together with copies of the Bonding Agreements in effect on the Closing Date certified by a Duly Authorized Officer
of the Borrower, which documents, including the aggregate bonding availability thereunder, shall be in form and substance reasonably
satisfactory to the Administrative Agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received evidence of insurance required to be maintained under the Loan Documents, naming the Administrative
Agent as additional insured<B> </B>and lenders loss payee, as applicable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received copies of each Loan Party&rsquo;s Organization Documents, certified in each instance by
a Duly Authorized Officer and, with respect to Organization Documents filed with a Governmental Authority, by the applicable Governmental
Authority;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received copies of resolutions of each Loan Party&rsquo;s board of directors (or similar governing
body) authorizing the execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party
and the consummation of the transactions contemplated hereby and thereby, together with specimen signatures of the persons authorized
to execute such documents on such Loan Party&rsquo;s behalf, all certified in each instance by a Duly Authorized Officer;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received copies of the certificates of good standing, or nearest equivalent in the relevant jurisdiction,
for each Loan Party (dated no earlier than thirty (30) days prior to the date hereof) from the office of the secretary of state
or other appropriate governmental department or agency of the state of its formation, incorporation or organization, as applicable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received a list of the Borrower&rsquo;s Authorized Representatives;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received for itself and for the Lenders the initial fees required by Section 2.13;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received certification from the Borrower&rsquo;s Chief Financial Officer or other Duly Authorized
Officer of the Borrower acceptable to the Administrative Agent of the Solvency of the Loan Parties on a consolidated basis after
giving effect to the Related Transactions and the initial Credit Event;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received: (i)&nbsp;an executed compliance certificate in the form of Exhibit&nbsp;E, calculated
based on the Borrower&rsquo;s financial conditions as of March 31, 2016,<B> </B>but giving effect to the Related Transactions and
initial Credit Event; (ii)&nbsp;a closing date balance sheet for the Borrower and its Subsidiaries calculated based on the Borrower&rsquo;s
financial conditions as of March 31, 2016,<B> </B>but giving effect to the Related Transactions and initial Credit Event; (iii)&nbsp;unaudited
historical quarterly financial statements for the Borrower and its Subsidiaries for the quarter ended March 31, 2016 and unaudited
historical monthly financial statements for the Borrower and its Subsidiaries for each of the months ended April 30, 2016 and May
31, 2016; (iv)&nbsp;a certificate from the Borrower&rsquo;s Chief Financial Officer or other Duly Authorized Officer of the Borrower
acceptable to the Administrative Agent, certifying that since March 31, 2016, no Material Adverse Effect has occurred; (v) a Borrowing
Base Certificate as of the Closing Date, along with a Collateral Report executed on behalf of the Borrower by a Duly Authorized
Officer of the Borrower, with<B> </B>Accounts and Eligible Accounts<B> </B>calculated as of<B> </B>May 31, 2016 and otherwise calculated
after giving <I>pro forma</I> effect to the Related Transactions and the initial Credit Event; and (vi) a certificate from the
Borrower&rsquo;s Chief Financial Officer or other Duly Authorized Officer of the Borrower acceptable to the Administrative Agent
certifying as of the Closing Date (A) the ratio of (x) Total Funded Debt of the Borrower and its Subsidiaries, after giving effect
to the Related Transactions and the advancing of the Loans (as defined in the Mezzanine Loan Agreement) to (y) EBITDA for the period
of twelve (12) consecutive months ended on March 31, 2016, calculated on a pro forma basis after giving effect to the Related Transactions
and the advancing of the Loans (as defined in the Mezzanine Loan Agreement) shall not exceed 3.65:1.00 and (B) EBITDA for the period
of twelve (12) consecutive months ending on March 31, 2016 shall be equal to or greater than $11,600,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;after
giving effect to the Related Transactions and the initial Credit Event, the Borrower shall have Borrowing Base Availability and
Unused Revolving Credit Commitments of at least $5,000,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received financing statement and, as appropriate, tax and judgment lien search results against
the Loan Parties, and their Property evidencing the absence of Liens thereon, except for Permitted Liens;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received pay-off and lien release letters from secured creditors (other than holders of Permitted
Liens) of the Loan Parties and of the Amended and Restated Senior Subordinated Loan Agreement,<B> </B>setting forth, among other
things, the total amount of indebtedness outstanding and owing to them (or outstanding letters of credit issued for the account
of any of the Loan Parties) and containing an undertaking to cause to be delivered to the Administrative Agent UCC termination
statements and any other lien release instruments necessary to release their Liens on the assets of any of the Loan Parties, which
pay-off and lien release letters shall be in form and substance acceptable to the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received the favorable written opinions of counsel to the Loan Parties, in form and substance reasonably
satisfactory to the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent&rsquo;s due diligence with respect to the Loan Parties and their Subsidiaries, if any, shall be completed
in a manner reasonably acceptable to the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
of the Lenders shall have received, sufficiently in advance of the Closing Date, all documentation and other information requested
by any such Lender required by bank regulatory authorities under applicable &ldquo;know your customer&rdquo; and anti-money laundering
rules and regulations, including the Patriot Act; and the Administrative Agent shall have received a fully executed IRS Form W-9
(or its equivalent) for each of the Loan Parties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;none
of the Loan Parties nor any of their Subsidiaries, if any, shall have obtained or attempted to obtain, place, arrange or renew
any debt financing, except for the Mezzanine Subordinated Debt and as otherwise permitted by Section 6.11, prior to the Closing
Date and during the Arranger&rsquo;s and the Administrative Agent&rsquo;s syndication of the credit facilities made available to
the Borrower hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the Administrative Agent shall have received the Merger Agreement duly executed by the Parent and the other parties thereto, and
certified by a Duly Authorized Officer of the Borrower, which agreement shall be in form and substance reasonably satisfactory
to the Administrative Agent and (ii) the Administrative Agent shall have received evidence satisfactory to it that the Required
Merger has closed or will close simultaneously with the closing of this Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent shall have received such other agreements, instruments, documents, certificates, and opinions as the Administrative
Agent may reasonably request.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Collateral and Guaranties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateral</I>.
The Secured Obligations shall be secured by (a)&nbsp;valid, perfected, and enforceable Liens of the Administrative Agent on all
right, title, and interest of each Loan Party in all Ownership Interests held by such Person in each of its Subsidiaries, whether
now owned or hereafter formed or acquired, and all proceeds thereof, and (b)&nbsp;valid, perfected, and enforceable Liens of the
Administrative Agent on all right, title, and interest of each Loan Party in all personal property, fixtures, and real estate,
whether now owned or hereafter acquired or arising, and all proceeds thereof; <I>provided, however, </I>that: (i)&nbsp;the Collateral
shall not include Excluded Property, and (ii)&nbsp;until an Event of Default has occurred and is continuing and thereafter until
otherwise required by the Administrative Agent or the Required Lenders, Liens on vehicles or other goods which are subject to a
certificate of title law need not be perfected provided that the total value of such property at any one time not so perfected
shall not exceed $100,000 in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
on Real Property</I>. Subject to Section 6.28 hereof, in the event that any Loan Party owns or hereafter acquires any real property
(other than Excluded Property), such Loan Party shall execute and deliver to the Administrative Agent (or a security trustee therefor)
a mortgage or deed of trust acceptable in form and substance to the Administrative Agent for the purpose of granting to the Administrative
Agent a Lien on such real property to secure the Secured Obligations, shall pay all Taxes, costs, and expenses incurred by the
Administrative Agent in recording such mortgage or deed of trust, and shall supply to the Administrative Agent, at the Administrative
Agent&rsquo;s request and at Borrower&rsquo;s cost and expense a survey, a certification with regard to flood zone location (and,
if necessary, evidence of flood insurance), environmental report, hazard insurance policy, appraisal report, and a mortgagee&rsquo;s
policy of title insurance from a title insurer acceptable to the Administrative Agent insuring the validity of such mortgage or
deed of trust and its status as a first Lien (subject to Permitted Liens) on the real property encumbered thereby and such other
instrument, documents, certificates, and opinions reasonably required by the Administrative Agent in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranties</I>.
The payment and performance of the Secured Obligations shall at all times be jointly and severally guaranteed by each Guarantor
pursuant to one or more Guaranty Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further
Assurances</I>. Each Loan Party agrees that it shall from time to time at the request of the Administrative Agent or the Required
Lenders, execute and deliver such documents and do such acts and things as the Administrative Agent or the Required Lenders may
reasonably request in order to provide for or perfect or protect such Liens on the Collateral as required by this Section 4. In
the event any Loan Party forms or acquires any other Subsidiary after the Closing Date, the Loan Parties shall promptly upon such
formation or acquisition cause such newly formed or acquired Subsidiary to execute a Guaranty Agreement and such Collateral Documents
as the Administrative Agent may then require to comply with this Section&nbsp;4, and the Loan Parties shall also deliver to the
Administrative Agent, or cause such Subsidiary to deliver to the Administrative Agent, at the Borrower&rsquo;s cost and expense,
such other instruments, documents, certificates, and opinions reasonably required by the Administrative Agent in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
Collateral</I>. Immediately upon the request of the Administrative Agent, the L/C Issuer, or the Swing Line Lender at any time
that there shall exist a Defaulting Lender, or otherwise as required hereby, including as required by Sections 2.3(b), 7.4 and
8.6(a)(v), the Borrower shall deliver Cash Collateral to the Administrative Agent in an amount sufficient to cover all Fronting
Exposure (after giving effect to Section&nbsp;8.6(a)(iv) and any Cash Collateral provided by the Defaulting Lender, if applicable)
with respect to such Defaulting Lender or to cover such other amount required hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant
of Security Interest</I>. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be held
by the Administrative Agent in one or more separate collateral accounts (each such account, and the credit balances, properties,
and any investments from time to time held therein, and any substitutions for such account, any certificate of deposit or other
instrument evidencing any of the foregoing and all proceeds of and earnings on any of the foregoing being collectively called the
<I>&ldquo;Collateral Account&rdquo;</I>). The Collateral Account shall be held in the name of and subject to the exclusive dominion
and control of the Administrative Agent for the benefit of the Administrative Agent, the Lenders (including the Swing Line Lender),
and the L/C Issuer. If and when requested by the Borrower, the Administrative Agent shall invest funds held in the Collateral Account
from time to time in direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed
by, the United States of America with a remaining maturity of one year or less, <I>provided</I> that the Administrative Agent is
irrevocably authorized to sell investments held in the Collateral Account when and as required to make payments out of the Collateral
Account for application to amounts due and owing from the Borrower to the L/C Issuer, the Administrative Agent or the Lenders (including
the Swing Line Lender).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Borrower, and to the extent
provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit
of the Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first
priority security interest (subject to Permitted Liens) in the Collateral Account, all as security for the obligations to which
such Cash Collateral may be applied pursuant to clause&nbsp;(b) below. If at any time the Administrative Agent determines that
Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided (other than
Permitted Liens), or that the total amount of such Cash Collateral is less than the Fronting Exposure and other obligations secured
thereby, the Borrower or the relevant Defaulting Lender, will, promptly upon demand by the Administrative Agent, pay or provide
to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Application</I>.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this Section&nbsp;4.5 or Sections
2.3(b), 7.4, or 8.6(a)(v), or any other Section hereof in respect of Letters of Credit or Swing Loans, shall be applied to the
satisfaction of the specific Reimbursement Obligations, Swing Loans, obligations to fund participations therein (including, as
to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation), and other obligations for which the
Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Release</I>.
(i) Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations giving rise
thereto shall be released promptly following the elimination of the applicable Fronting Exposure and other obligations giving rise
thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee)),
or (ii), if such Cash Collateral (or the appropriate portion thereof) is not provided in connection with a Defaulting Lender, Cash
Collateral (or the appropriate portion thereof) shall be released promptly after (A)&nbsp;the Borrower shall have made payment
of all such obligations referred to in this Section&nbsp;4.5 above, (B)&nbsp;all relevant preference or other disgorgement periods
relating to the receipt of such payments have passed, and (C)&nbsp;no Letters of Credit, Commitments, Loans or other Obligations
remain outstanding hereunder, and (iii) Cash Collateral (or the appropriate portion thereof) shall be released promptly following
the Administrative Agent&rsquo;s good faith determination that there exists excess Cash Collateral; <I>provided, however,</I> that
(x) Cash Collateral furnished by or on behalf of the Borrower shall not be released during the continuance of a Default or Event
of Default (and following application as provided in this Section&nbsp;4.5 may be otherwise applied in accordance with Section&nbsp;2.9),
and (y) the Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral
shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>


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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representations
and Warranties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Loan Party represents
and warrants to each Lender, the Administrative Agent, and the L/C Issuer as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organization
and Qualification</I>. Each Loan Party (a)&nbsp;is duly organized and validly existing under the laws of the jurisdiction of its
organization, (b) is in good standing under the laws of the jurisdiction of its organization, (c)&nbsp;has the power and authority
to own its property and to transact the business in which it is engaged and proposes to engage and (d)&nbsp;is duly qualified and
in good standing in each jurisdiction where the ownership, leasing or operation of property or the conduct of its business requires
such qualification, except, in each case of clauses (a), (b) (other than with respect to the Borrower where failure to maintain
such good standing is not curable or results in the dissolution of the Borrower), (c) and (d), where the same could not be reasonably
expected to have, either individually or in the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authority
and Enforceability</I>. The Borrower has the power and authority to enter into this Agreement and the other Loan Documents executed
by it, to make the borrowings herein provided for, to issue its Notes (if any), to grant to the Administrative Agent the Liens
described in the Collateral Documents executed by the Borrower, and to perform all of its obligations hereunder and under the other
Loan Documents executed by it. Each Guarantor has the power and authority to enter into the Loan Documents executed by it, to guarantee
the Secured Obligations, to grant to the Administrative Agent the Liens described in the Collateral Documents executed by such
Person, and to perform all of its obligations under the Loan Documents executed by it. The Loan Documents delivered by the Loan
Parties have been duly authorized by proper corporate and/or other organizational proceedings, executed, and delivered by such
Persons and constitute valid and binding obligations of such Loan Parties enforceable against each of them in accordance with their
terms, except as enforceability may be limited by Debtor Relief Laws and general principles of equity (regardless of whether the
application of such principles is considered in a proceeding in equity or at law); and this Agreement and the other Loan Documents
do not, nor does the performance or observance by any Loan Party of any of the matters and things herein or therein provided for,
(a)&nbsp;contravene or violate any applicable Legal Requirement binding upon any Loan Party or any provision of the Organization
Documents of any Loan Party, (b)&nbsp;violate or constitute a default under any covenant, indenture or agreement of or affecting
the any Loan Party or any of its Property, in each case where such violation, contravention or default, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect or (c)&nbsp;result in the creation or imposition of any
Lien on any Property of any Loan Party other than the Liens granted in favor of the Administrative Agent pursuant to the Collateral
Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Reports</I>. The audited consolidated and consolidating financial statements of the Parent and its Subsidiaries as at December
31,&nbsp;2015, and the unaudited interim consolidated and consolidating financial statements of the Parent and its Subsidiaries
as at March 31,&nbsp;2016, for the three (3)&nbsp;months then ended, heretofore furnished to the Administrative Agent, fairly and
adequately present the consolidated and consolidating financial condition of the Parent and its Subsidiaries as at said dates and
the consolidated and consolidating results of their operations and cash flows for the periods then ended in conformity with GAAP
applied on a consistent basis. <B> </B>As of any date after the Closing Date, the audited consolidated and consolidating financial
statements of the Borrower and its Subsidiaries most recently furnished to the Administrative Agent pursuant to Section 6.1, fairly
and adequately present in all material respects the consolidated and consolidating financial condition of the Borrower and its
Subsidiaries as at said dates and the consolidated and consolidating results of their operations and cash flows for the periods
then ended in conformity with GAAP applied on a consistent basis. As of the date of the most recently delivered annual financial
statements, no Loan Party or any Subsidiary of a Loan Party has contingent liabilities required to be disclosed under GAAP or judgments,
orders or injunctions against it that are material to it and which otherwise constitute an Event of Default under Section 7.1(g),
other than as indicated on such financial statements or, with respect to future periods, on the financial statements furnished
pursuant to Section&nbsp;6.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Material Adverse Change</I>.<I> </I>Since the date of the most recent audited financial statements of Limbach, Inc. provided to
the Administrative Agent pursuant to Section 6.1(b), there has been no change in the business condition (financial or otherwise),
operations, performance or Properties of any Loan Party or any Subsidiary of any Loan Party except those occurring in the ordinary
course of business, none of which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Litigation
and Other Controversies</I>. Except as set forth on Schedule 5.5, there is no litigation, arbitration, labor controversy or governmental
proceeding pending or, to the knowledge of any Loan Party, threatened against any Loan Party or any of its Subsidiaries, or any
of their respective Property, that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;True
and Complete Disclosure</I>. All information furnished by or on behalf of the Loan Parties or any of their Subsidiaries to the
Administrative Agent or any Lender for purposes of or in connection with this Agreement, or any transaction contemplated herein,
does not contain any untrue statements or material fact or omit a material fact necessary to make the material statements herein
or therein not misleading in light of the circumstances under which such information was provided; <I>provided</I> that, with respect
to projected financial information furnished by or on behalf of the Loan Parties or any of their Subsidiaries, the Loan Parties
only represent and warrant that such information is prepared in good faith based upon assumptions and estimates believed to be
reasonable by the Loan Parties at the time of preparation and at the time of delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use
of Proceeds; Margin Stock</I>. The Borrower shall use all proceeds of the Loans to refinance existing Indebtedness outstanding
on the Closing Date, to finance Capital Expenditures and Permitted Acquisitions<B> </B>and to fund certain fees and expenses associated
with this Agreement and the Related Agreements and the transactions contemplated hereby and thereby; and for working capital purposes
and other general corporate purposes of the Loan Parties and their Subsidiaries; <I>provided</I> that proceeds of Revolving Loans
borrowed on or about the Closing Date shall not be used to redeem Ownership Interests of the Parent. No part of the proceeds of
any Loan or other extension of credit hereunder will be used to purchase or carry any Margin Stock or to extend credit to others
for the purpose of purchasing or carrying any Margin Stock. Neither the making of any Loan or other extension of credit hereunder
nor the use of the proceeds of Loans will violate or be inconsistent with the provisions of Regulations T, U or X of the Board
of Governors of the Federal Reserve System and any successor to all or any portion of such regulations. Margin Stock constitutes
less than 25% of the value of those assets of the Loan Parties and their Subsidiaries that are subject to any limitation on sale,
pledge or other restriction hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes</I>.
Each Loan Party and each of its Subsidiaries has timely filed or caused to be timely filed all tax returns required to be filed
by such Loan Party and/or any of its Subsidiaries, except where (i) extensions have been duly obtained or (ii) failure to so file
could not be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect. Each Loan Party and
each of its Subsidiaries has paid (or made adequate provisions and established appropriate reserves for) all Taxes payable by them
other than Taxes which are not delinquent, except those that are being contested in good faith and by appropriate legal proceedings
and as to which appropriate reserves have been provided for in accordance with GAAP and no Lien resulting therefrom attaches to
any of its Property (other than any Permitted Liens).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERISA</I>.
Except as would not reasonably be expected to result in liability in excess of $750,000, or except as set forth on Schedule 5.9,
(a)&nbsp;no ERISA Event has occurred and no Loan Party or any member of its Controlled Group is aware of any fact, event or circumstance
that could reasonably be expected to constitute or result in an ERISA Event; (b) each Plan is in compliance with all applicable
Legal Requirements; and (c) there is no existing or pending (or to the knowledge of the Loan Party, threatened) claims (other than
routine claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or investigation involving
any Plan or Welfare Plan; (d) no Loan Party or any member of the Controlled Group has received in the past five years any requests
for a &ldquo;Statement of Business Affairs&rdquo; from any Multiemployer Plan it has contributed to; and (e) substantially all
of the employees for whom any Loan Party or member of its Controlled Group has an obligation to contribute to a Multiemployer Plan
perform work in the building and construction industry. No Lien has been imposed under Section 430(k) of the Code or Sections 303
or 4068 of ERISA on any asset of a Loan Party or a Subsidiary of a Loan Party. An update to this Schedule 5.9 will be included
as an attachment to each certificate delivered pursuant to Section 6.1(c).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries</I>.
Schedule&nbsp;5.10 (as supplemented from time to time pursuant to Section&nbsp;6.18) identifies (a)&nbsp;each Subsidiary (including
Subsidiaries that are Loan Parties) and (b)&nbsp;the following information for each Subsidiary: (i)&nbsp;jurisdiction of its organization;
and (ii)&nbsp;the percentage of issued and outstanding interests of each class of its Ownership Interests owned by any Loan Party
and/or its Subsidiaries; and, if such percentage is not 100% (excluding directors&rsquo; qualifying shares as required by law),
a description of each class of its authorized Ownership Interests and the number of interests of each class issued and outstanding.
All of the outstanding Ownership Interests of each Subsidiary are validly issued and outstanding and fully paid and nonassessable
and all such Ownership Interests indicated on Schedule&nbsp;5.10 (as supplemented from time to time pursuant to Section&nbsp;6.18)
as owned by a Loan Party or another Subsidiary are owned, beneficially and of record, by such Loan Party or Subsidiary free and
clear of all Liens, other than the Liens granted in favor of the Administrative Agent pursuant to the Collateral Documents and
Permitted Liens. There are no outstanding commitments or other obligations of any Subsidiary to issue, and no options, warrants
or other rights of any Person to acquire, any shares of any class of Ownership Interests of any Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Laws</I>. The Loan Parties and their Subsidiaries are in compliance with all applicable statutes, regulations and orders of,
and all applicable restrictions imposed by, all Governmental Authorities in respect of the conduct of their businesses and the
ownership of their Property, except such noncompliances as could not reasonably be expected to have, either individually or in
the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental
Matters</I>. Except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each
Loan Party and each of its Subsidiaries: (i) is and has been in compliance with all applicable Environmental Laws; and (ii) has
obtained all permits, licenses and approvals required by Environmental Laws, all such permits, licenses and approvals are in full
force and effect and each Loan Party and each of its Subsidiaries is in compliance with the terms and conditions of all such permits,
licenses and approvals. There are no pending or, to the best knowledge of the Loan Parties and their Subsidiaries after due inquiry,
threatened Environmental Claims against any Loan Party or any of its Subsidiaries or any real property, including leaseholds, owned
or operated by any Loan Party or any of its Subsidiaries. There are no facts, circumstances, conditions or occurrences that, to
the best knowledge of the Loan Parties and their Subsidiaries after due inquiry, could reasonably be expected to (i)&nbsp;form
the basis of an Environmental Claim against any Loan Party or any of its Subsidiaries or any real property, including leaseholds,
owned or operated by any Loan Party or any of its Subsidiaries, or (ii)&nbsp;cause any such real property to be subject to any
restrictions on its ownership, occupancy, use or transferability under Environmental Laws. Hazardous Materials have not been Released
on or from any real property, including leaseholds, owned or operated by any Loan Party or any of its Subsidiaries or at any off-site
location for which any Loan Party or any of its Subsidiaries is liable, that individually or in the aggregate could reasonably
be expected to have a Material Adverse Effect. The Loan Parties have made available to Administrative Agent accurate and complete
copies of all material environmental reports, studies, assessments, investigations, audits, correspondence and other documents
relating to environmental or occupational safety and health matters with respect to any real property, including leaseholds, owned
or operated by the Loan Parties or any of their Subsidiaries that are in the Loan Parties&rsquo; possession or control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
Company.</I> No Loan Party nor any of its Subsidiaries is an &ldquo;investment company&rdquo; or a company &ldquo;controlled&rdquo;
by an &ldquo;investment company&rdquo; within the meaning of the Investment Company Act of 1940.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intellectual
Property</I>. Each Loan Party and each of its Subsidiaries owns or has obtained licenses or other rights of whatever nature to
all the patents, trademarks, service marks, trade names, copyrights, trade secrets, know-how or other intellectual property rights
necessary for the present conduct of its businesses, in each case without any known conflict with the rights of others except for
such conflicts, rights to use and any failure to own or obtain such licenses and other rights, as the case may be, as could not
reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Good
Title</I>. The Loan Parties and their Subsidiaries have good and marketable title to, or valid leasehold interests in, or rights
to use, their assets as reflected on the Loan Parties&rsquo; most recent consolidated balance sheet provided to the Administrative
Agent (except for sales of assets in the ordinary course of business, and such defects in title or interests that could not reasonably
be expected to have, either individually or in the aggregate, a Material Adverse Effect) and is subject to no Liens, other than
Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Labor
Relations</I>. No Loan Party nor any of its Subsidiaries is engaged in any unfair labor practice that could reasonably be expected
to have a Material Adverse Effect. Except as set forth on Schedule 5.16, there is (a)&nbsp;no strike, labor dispute, slowdown,
or stoppage pending against any Loan Party or any of its Subsidiaries or, to the best knowledge of the Loan Parties and their Subsidiaries,
threatened against any Loan Party or any of its Subsidiaries, (b)&nbsp;to the best knowledge of the Loan Parties and their Subsidiaries,
no union representation proceeding is pending with respect to the employees of any Loan Party or any of its Subsidiaries and no
union organizing activities are taking place and (c) no Loan Party nor any of its Subsidiaries is a party to a collective bargaining
agreement, except (with respect to any matter specified in clause&nbsp;(a), (b) or (c) above, either individually or in the aggregate)
such as could not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governmental
Authority and Licensing</I>. The Loan Parties and their Subsidiaries have received all licenses, permits, and approvals of each
Governmental Authority necessary to conduct their businesses, in each case where the failure to obtain or maintain the same could
reasonably be expected to have a Material Adverse Effect. No investigation or proceeding that, if adversely determined, could reasonably
be expected to result in revocation or denial of any license, permit or approval is pending or, to the knowledge of the Loan Parties,
threatened, except where such revocation or denial could not reasonably be expected to have, either individually or in the aggregate,
a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval</I>s.
No authorization, consent, license or exemption from, or filing or registration with, any Governmental Authority, nor any approval
or consent of any other Person, is or will be necessary to the valid execution, delivery or performance by any Loan Party of any
Loan Document, except for (a)&nbsp;such approvals, authorizations, consents, licenses or exemptions from, or filings or registrations
which have been obtained prior to the date of this Agreement and remain in full force and effect, (b)&nbsp;filings which are necessary
to release Liens granted pursuant to the document related to the Indebtedness to be refinanced on the Closing Date, and (c)&nbsp;filings,
authorizations, consents, licenses, exemptions or registrations which are necessary to perfect the security interests created under
the Collateral Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliate
Transactions.</I> No Loan Party nor any of its Subsidiaries is a party to any contracts or agreements with any of its Affiliates
(other than with Wholly-owned Subsidiaries) on terms and conditions which are less favorable to such Loan Party or such Subsidiary
than would be usual and customary in similar contracts or agreements between Persons not affiliated with each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 5.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solvency</I>.
The Loan Parties and their Subsidiaries are, on a consolidated basis, Solvent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Broker Fees</I>. No broker&rsquo;s or finder&rsquo;s fee or commission will be payable with respect hereto or any of the transactions
contemplated thereby; and the Loan Parties hereby agree to indemnify the Administrative Agent, the L/C Issuer, and the Lenders
against, and agree that they will hold the Administrative Agent, the L/C Issuer, and the Lenders harmless from, any claim, demand,
or liability for any such broker&rsquo;s or finder&rsquo;s fees alleged to have been incurred in connection herewith or therewith
and any expenses (including reasonable attorneys&rsquo; fees) arising in connection with any such claim, demand, or liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Default. </I>No Default or Event of Default has occurred and is continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 5.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Sanctions Programs</I>. &nbsp;Each Loan Party is in compliance with the requirements of all Sanctions Programs applicable
to it. Each Subsidiary of each Loan Party is in compliance with the requirements of all Sanctions Programs applicable to such Subsidiary.
Each Loan Party has provided to the Administrative Agent, the L/C Issuer, and the Lenders all information regarding such Loan Party
and its directors, officers, Affiliates and Subsidiaries necessary for the Administrative Agent, the L/C Issuer, and the Lenders
to comply with all applicable Sanctions Programs. To the best of each Loan Party&rsquo;s knowledge, neither any Loan Party nor
any of its officers or directors, Affiliates or Subsidiaries is, as of the date hereof, a Sanctioned Person. No part of the proceeds
of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee, political party,
official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of
1977.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger
Agreement; Bonding Facility.</I> (a) <I>Merger Agreement.</I> The Borrower has provided to the Administrative Agent a true and
correct copy of the Merger Agreement. The Merger Agreement is in full force and effect and has not, except as reflected in amendments
provided to the Administrative Agent, been amended or modified in any material respect from the version so delivered to the Administrative
Agent, no material condition to the effectiveness thereof has been waived and no material obligations of Limbach, Inc. or the Parent
thereunder have been waived, except to the extent approved in writing by the Administrative Agent, and no Loan Party is aware of
any default thereunder. No authorization, consent, license, or exemption from, or filing or registration with, any Governmental
Authority, nor any material approval or consent of any other Person, is or will be necessary to the valid execution, delivery,
or material performance by Limbach, Inc. or the Parent of the Merger Agreement or of any other instrument or document executed
and delivered in connection therewith. As of the Closing Date, to each Loan Party&rsquo;s knowledge, all representations and warranties
in the Merger Agreement are true and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Bonding
Facility. </I> The Loan Parties have provided to the Administrative Agent a true and correct copy of all agreements establishing
the Required Bonding Facility (together, the <I>&ldquo;Bonding Agreements&rdquo;</I>). <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Borrower and its Subsidiaries have available bonding capacity under one or more Bonding Agreements in an amount sufficient to operate
their respective businesses in the ordinary course of business. </FONT>Each of the Bonding Agreements is in full force and effect
and no Duly Authorized Officer is aware of any condition that would constitute a default under Section 7.1(l) of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Agreements and Documents.</I> All Material Agreements existing on the Closing Date are listed on Schedule&nbsp;5.25, and, except
as set forth on such Schedule, all such Material Agreements are in full force and effect and no defaults currently exist under
such agreements which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. There does
not exist any violation of any Organization Documents which could reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accuracy
of Borrowing Base.</I> At the time any Borrowing Base Certificate is delivered pursuant to this Agreement, to the knowledge of
the Loan Parties, each Account included in the calculation of Borrowing Base satisfies all of the criteria stated herein to be
an Eligible Account or, in the event knowledge is acquired by any Loan Party after the delivery of such Borrowing Base Certificate,
which would cause such representation to be inaccurate, the Loan Parties have promptly delivered to the Administrative Agent a
corrected Borrowing Base Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mezzanine
Debt.</I> The Borrower has delivered to the Administrative Agent true, correct and complete copies of all Mezzanine Debt Documents
(including all schedules, exhibits, amendments, supplements, modifications and assignments delivered pursuant thereto or in connection
therewith). All Secured Obligations constitute Indebtedness entitled to the benefits of the subordination provisions contained
in the Mezzanine Debt Documents and the Mezzanine Subordination Agreement.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covenants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Loan Party covenants
and agrees that, so long as any Credit is available to or in use by the Borrower hereunder and until the Facility Termination Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information
Covenants</I>. The Loan Parties will furnish to the Administrative Agent, with sufficient copies for each Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Quarterly
Reports</I>. Within forty-five (45) days after the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter
of the Borrower ending June 30,&nbsp;2016, (i) the Borrower and its Subsidiaries consolidated and consolidating balance sheet as
at the end of such fiscal quarter and the related consolidated and consolidating statements of income and retained earnings and
of cash flows for such fiscal quarter and for the elapsed portion of the fiscal year-to-date period then ended, each in reasonable
detail, prepared by the Borrower in accordance with GAAP, setting forth comparative figures for the corresponding fiscal quarter
in the prior fiscal year and comparable budgeted figures for such fiscal quarter, all of which shall be certified by the Chief
Financial Officer or other Duly Authorized Officer of the Borrower acceptable to the Administrative Agent that the consolidated
and consolidating schedules fairly present in all material respects in accordance with GAAP the financial condition of the Borrower
and its Subsidiaries as of the dates indicated and the results of their operations and changes in their cash flows for the periods
indicated, subject to normal year-end audit adjustments and the absence of footnotes, (ii) a work in process report of the Borrower
and its Subsidiaries as at the end of such fiscal quarter in form and substance reasonably acceptable to the Administrative Agent,
and (iii) a management discussion and analysis (with reasonable detail and specificity) of the results of operations for the fiscal
periods reported.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Annual
Statements</I>. Within one hundred twenty (120) days after the close of each fiscal year of the Borrower, (i) a copy of Limbach,
Inc.&rsquo;s consolidated and consolidating balance sheet as of the last day of the fiscal year then ended and Limbach, Inc.&rsquo;s
consolidated and consolidating statements of income, retained earnings, and cash flows for the fiscal year then ended, and accompanying
notes thereto, each in reasonable detail showing in comparative form the figures for the previous fiscal year, accompanied by an
unqualified opinion of a firm of independent public accountants of recognized national standing, selected by the Loan Parties and
reasonably acceptable to the Administrative Agent, to the effect that the consolidated financial statements have been prepared
in accordance with GAAP and present fairly in accordance with GAAP the consolidated financial condition of Limbach, Inc. and its
Subsidiaries as of the close of such fiscal year and the results of their operations and cash flows for the fiscal year then ended
and that an examination of such accounts in connection with such financial statements has been made in accordance with generally
accepted auditing standards and (ii) the unaudited consolidating balance sheet as of the last day of the fiscal year then ended
of the Borrower and its Subsidiaries and the unaudited consolidated and consolidating statements of income, retained earnings,
and cash flows for the fiscal year then ended of the Borrower and its Subsidiaries which shall be certified by the Chief Financial
Officer or other Duly Authorized Officer of the Borrower acceptable to the Administrative Agent that such financial statements
fairly present in all material respects in accordance with GAAP the financial condition of the Borrower and its Subsidiaries as
of the dates indicated and the results of their operations and changes in their cash flows for the periods indicated.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Officer&rsquo;s
Certificates</I>. Within forty-five (45)&nbsp;days after the end of each fiscal quarter of the Borrower and at the time of the
delivery of the financial statements provided for in Section&nbsp;6.1(b), commencing with the fiscal quarter of the Borrower ending
June 30,&nbsp;2016, (i)&nbsp;a certificate of the Chief Financial Officer or other Duly Authorized Officer of the Borrower acceptable
to Administrative Agent in the form of Exhibit&nbsp;E (A)&nbsp;stating no Default or Event of Default has occurred and is continuing
during the period covered by such statements or, if a Default or Event of Default exists, a detailed description of the Default
or Event of Default and all actions the Borrower is taking with respect to such Default or Event of Default, (B)&nbsp;confirming
that the representations and warranties stated in Section&nbsp;5 remain true and correct (or, in the case of any representation
or warranty not qualified as to materiality, true and correct in all material respects) as of said time, except to the extent such
representations and warranties relate to an earlier date (and in such case, confirming they are true and correct (or, in the case
of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of such earlier
date), and (C)&nbsp;showing detailed covenant calculations evidencing the Borrower&rsquo;s compliance with the covenants set forth
in 6.20, and (ii)&nbsp;a comparison of the current year to date financial results (other than in respect of the balance sheets
included therein) against the budgets required to be submitted pursuant to clause&nbsp;6.1(d).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Budgets</I>.
As soon as available, but in any event at least thirty (30) days after the first day of each fiscal year of the Borrower, a budget
in form satisfactory to the Administrative Agent (including a breakdown of the projected results of each of the construction and
service lines of business of the Parent and its Subsidiaries consistent with historical past practices, budgeted consolidated and
consolidating statements of income, and sources and uses of cash and balance sheets for the Parent and its Subsidiaries) of the
Borrower and its Subsidiaries in reasonable detail satisfactory to the Administrative Agent for each fiscal month and the four
fiscal quarters of the immediately succeeding fiscal year and, with appropriate discussion, the principal assumptions upon which
such budget is based.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Notice
of Default or Litigation, Labor Materials and Contracts</I>. Promptly, and in any event within five (5) Business Days after any
officer of any Loan Party obtains knowledge thereof, notice of (i)&nbsp;the occurrence of any event which constitutes a Default
or an Event of Default or any other event which could reasonably be expected to have a Material Adverse Effect, which notice shall
specify the nature thereof, the period of existence thereof and what action the Loan Parties propose to take with respect thereto;
<I>provided</I> that this reporting obligation shall not apply to ordinary course short term performance defaults incurred under
construction contracts entered into in the ordinary course of business, (ii)&nbsp;the commencement of, or threat of, or any significant
development in, any litigation, labor controversy, arbitration or governmental proceeding pending against any Loan Party or any
of its Subsidiaries which, if adversely determined, could reasonably be expected to have a Material Adverse Effect, (iii) any labor
dispute to which any Loan Party or any of its Subsidiaries may become a party and which may have a Material Adverse Effect, (iv)
any strikes, walkouts, or lockouts relating to any of the Loan Parties&rsquo; or any of their Subsidiaries&rsquo; plants or other
facilities, and (v) the occurrence of any event which constitutes a default or an event of default under any Material Agreement;<I>
provided</I> that this reporting obligation shall not apply to ordinary course short term performance defaults incurred under construction
contracts entered into in the ordinary course of business. In addition, the Loan Parties agree to provide the Administrative Agent,
promptly upon receipt by any Loan Party, with copies of all pleadings filed relating to any litigation matter disclosed pursuant
to this Section 6.1(e).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Management
Letters</I>. Promptly after any Loan Party&rsquo;s receipt thereof, a copy of each report or any &ldquo;management letter&rdquo;
submitted to any Loan Party or any of its Subsidiaries by its certified public accountants and the management&rsquo;s responses
thereto.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Reports and Filings</I>. Promptly, copies of all financial information, proxy materials and other material information, certificates,
reports, statements and completed forms, if any, which Limbach, Inc. or any of its Subsidiaries (x)&nbsp;has furnished to the shareholders
of Limbach, Inc. or the U.S. Securities and Exchange Commission or (y)&nbsp;has delivered to the Mezzanine Agent or the holders
of, or to any other agent or trustee with respect to, Indebtedness of the Parent or any of its Subsidiaries in their capacity as
such a holder, agent or trustee to the extent that the aggregate principal amount of such Indebtedness exceeds (or upon the utilization
of any unused commitments may exceed) $500,000.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Environmental
Matters</I>. Promptly upon, and in any event within five (5) Business Days after any officer of any Loan Party obtains knowledge
thereof, notice of one or more of the following environmental matters which individually, or in the aggregate, could reasonably
be expected to have a Material Adverse Effect: (i)&nbsp;any violation of Environmental Law by, or notice of an Environmental Claim
against, any Loan Party or any of its Subsidiaries or any real property owned or operated by any Loan Party or any of its Subsidiaries;
(ii)&nbsp;any Release or threatened Release of Hazardous Substances that occurs on or arises from any real property owned or operated
by any Loan Party or any of its Subsidiaries or for which any Loan Party or any Subsidiary of any Loan Party is liable, in each
case that (x)&nbsp;is not in compliance with applicable Environmental Laws or (y)&nbsp;could reasonably be expected to form the
basis of an Environmental Claim against any Loan Party or any of its Subsidiaries or any such real property; (iii)&nbsp;any condition
or occurrence on any real property owned or operated by any Loan Party or any of its Subsidiaries that could reasonably be expected
to cause such real property to be subject to any restrictions on the ownership, occupancy, use or transferability by any Loan Party
or any of its Subsidiaries of such real property under any Environmental Law; and (iv)&nbsp;any investigative, removal or remedial
actions to be taken in response to the actual or alleged presence of any Hazardous Material on any real property owned or operated
by any Loan Party or any of its Subsidiaries, or by any Loan Party or any of its Subsidiaries at any off-site location, to the
extent required by any Environmental Law or Governmental Authority. All such notices shall describe in reasonable detail the nature
of the claim, investigation, condition, occurrence or removal or remedial action and such Loan Party&rsquo;s or such Subsidiary&rsquo;s
response thereto. In addition, the Loan Parties agree to provide the Lenders with copies of all material written communications
by the Loan Parties or any of their Subsidiaries with any Person or Governmental Authority relating to any of the matters set forth
in clauses&nbsp;(i)-(iv) above, and such detailed reports relating to any of the matters set forth in clauses&nbsp;(i)-(iv) above
as may reasonably be requested by the Administrative Agent or the Required Lenders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Borrowing
Base Certificate.</I> Within thirty (30) days after the last day of each calendar month during which, at any time, there were any
outstanding Revolving Loans, Swing Loans, or Letters of Credit, (i)&nbsp;a Borrowing Base Certificate showing the computation of
the Borrowing Base in reasonable detail as of the close of business on the last day of the immediately preceding month, together
with such other information as therein required, prepared by the Borrower and certified to by its Chief Financial Officer or other
Duly Authorized Officer of the Borrower reasonably acceptable to the Administrative Agent, and (ii)&nbsp;Collateral Report executed
on behalf of the Borrower by a Duly Authorized Officer of the Borrower, as of the close of business on the last day of the immediately
preceding month, which report shall be in form and substance reasonably acceptable to the Administrative Agent and shall include
an accounts receivable aging report.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Multiemployer
Plans.</I> Promptly after receipt by any Loan Party or any member of the Controlled Group, (x) a copy of any &ldquo;Statement of
Business Affairs&rdquo; issued by any Multiemployer Plan to any Loan Party or any member of the Controlled Group and (y) a copy
of any &ldquo;estimate of withdrawal liability&rdquo; received by any Loan Party or any member of its Controlled Group from any
Multiemployer Plan it has contributed to, which estimate shall be requested by the Loan Parties at any time withdrawal from any
Multiemployer Plan is contemplated by any Loan Party or any member of the Controlled Group.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Monthly
Board Reports.</I> A copy of each &ldquo;Monthly Board Report&rdquo; prepared for the board of directors of Parent and relating
to key performance indicators, which report shall be prepared and distributed no less than monthly, promptly upon distribution
of such report to the board of directors of Parent.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Information</I>. From time to time, such other information or documents (financial or otherwise) as the Administrative Agent or
any Lender may reasonably request.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspections;
Field Examinations</I>. Each Loan Party will, and will cause each of its Subsidiaries to, permit officers, representatives and
agents of the Administrative Agent or any Lender, to visit and inspect any Property of such Loan Party or such Subsidiary, and
to examine the financial records and corporate books of such Loan Party or such Subsidiary, and discuss the affairs, finances,
and accounts of such Loan Party or such Subsidiary with its and their Duly Authorized Officer and independent accountants, all
at such reasonable times as the Administrative Agent or any Lender may request, and with respect to the independent accountants,
after prior notice to the Borrower; <I>provided</I> that the the Borrower shall be permitted to attend any visit with the independent
accountants of the Loan Parties; <I>provided</I>, <I>further,</I> so long as no Default or Event of Default exists, prior written
notice of any such visit, inspection, or examination shall be provided to the Borrower and such visit, inspection, or examination
shall be performed at reasonable times to be agreed to by the Borrower, which agreement will not be unreasonably withheld. The
Borrower shall pay to the Administrative Agent for its own use and benefit reasonable charges for examinations of the Collateral
performed by the Administrative Agent or its agents or representatives in such customary per diem amounts and related out-of-pocket
costs and expenses as the Administrative Agent may from time to time request (the Administrative Agent acknowledging and agreeing
that such charges shall be computed in the same manner as it at the time customarily uses for the assessment of charges for similar
collateral examinations); <I>provided, however,</I> that in the absence of any Default and Event of Default, the Borrower shall
not be required to pay the Administrative Agent for more than one such examination per calendar year; <I>provided, further, </I>that
if an Event of Default has occurred and is continuing, the Administrative Agent shall be permitted to conduct inspections, audits
and examinations as it reasonably deems advisable at the reasonable cost and expense of the Borrower. The Parent and the Borrower
agree to pay (and shall cause each of their Subsidiaries to pay) on demand all reasonable costs, expenses and fees incurred by
the Administrative Agent in connection with any inspections, examinations, or audits of any of the Loan Parties performed by the
Administrative Agent under this Section&nbsp;6.2.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintenance
of Property and Insurance; Environmental Matters</I>. (a)&nbsp;Each Loan Party will, and will cause each of its Subsidiaries to,
(i)&nbsp;keep its Property, plant, and equipment in good repair, working order and condition, normal wear and tear, casualty, and
condemnation excepted, and shall from time to time make all necessary and proper repairs, renewals, replacements, extensions, additions,
betterments and improvements thereto so that at all times such Property, plant, and equipment are reasonably preserved and maintained
and (ii)&nbsp;maintain in full force and effect with financially sound and reputable insurance companies insurance which provides
substantially the same (or greater) coverage and against at least such risks as is in accordance with industry practice, and shall
furnish to the Administrative Agent upon request full information as to the insurance so carried. In any event, each Loan Party
shall, and shall cause each of its Subsidiaries to, maintain insurance on the Collateral to the extent required by the Collateral
Documents.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of Section&nbsp;6.3(a), each Loan Party and its Subsidiaries shall: (i)&nbsp;materially comply with, and
maintain all real property owned or operated by any Loan Party or any of its Subsidiaries in material compliance with, applicable
Environmental Laws; (ii)&nbsp;obtain and maintain in full force and effect all permits, licenses and approvals required for its
operations and the occupancy of its properties by Environmental Laws; (iii)&nbsp;cure as soon as reasonably practicable any violation
of applicable Environmental Laws<B> </B>which individually or in the aggregate may reasonably be expected to have a Material Adverse
Effect; (iv)&nbsp;not, and shall not permit any other Person to, own or operate on any of its properties any underground storage
tank, landfill, dump or hazardous waste treatment, storage or disposal facility as defined pursuant to Environmental Laws; and
(v)&nbsp;shall not use, generate, treat, store, Release or dispose of Hazardous Materials at or on any real property owned or operated
by any Loan Party or any of its Subsidiaries except in the ordinary course of its business and in compliance with all Environmental
Laws. Each Loan Party and its Subsidiaries shall conduct any investigation, study, sampling and testing, abatement, cleanup, removal,
remediation or other response or preventative action necessary to remove, remediate, prevent, cleanup or abate any Release or threatened
Release of Hazardous Materials or any migration or continuation thereof required by Environmental Laws.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Laws and Material Agreements</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, comply in all respects
with the requirements of all laws, rules, regulations, ordinances and orders of any Governmental Authority applicable to such Loan
Party or any of its Subsidiaries&rsquo; Property or business operations, where any such non-compliance, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect or result in a Lien upon any of its Property (other than
Permitted Liens). Each Loan Party shall, and shall cause each of its Subsidiaries to, timely satisfy all assessments, fines, costs
and penalties imposed by any Governmental Authority against such Person or any Property of such Person, where any such failure
to pay, individually or in the aggregate, would result in a Material Adverse Effect. Each Loan Party shall, and shall cause each
of its Subsidiaries to, comply with any and all agreements or instruments evidencing Indebtedness and any other Material Agreement
to which it is a party or by which it is bound, where such default would result in a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERISA</I>.
Each Loan Party shall, and shall cause each member of its Controlled Group to, promptly pay and discharge all obligations and liabilities
arising under ERISA of a character which if unpaid or unperformed could reasonably be expected to have a Material Adverse Effect
or result in a Lien upon any of the Loan Party&rsquo;s or any of its Subsidiary&rsquo;s Property. Each Loan Party shall, and shall
cause each of its Subsidiaries to, promptly notify the Administrative Agent and each Lender of the occurrence of any other ERISA
Event that could reasonably be expected to result in liability in excess of $750,000; <I>provided, however,</I> that each Loan
Party shall, and shall cause each of its Subsidiaries to, promptly notify the Administrative Agent and each Lender of the occurrence
of an event that may reasonably be expected to result in a complete or partial withdrawal by the Loan Party or any member of its
Controlled Group from a Multiemployer Plan, regardless of whether the resulting liability is reasonably expected to be in excess
of $750,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of Taxes</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, pay and discharge, all Taxes imposed upon it
or any of its Property, before becoming delinquent and before any penalties accrue thereon, unless and to the extent that the same
are being contested in good faith and by appropriate proceedings and as to which appropriate reserves have been provided for in
accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preservation
of Existence</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, do or cause to be done, all things necessary
to preserve and keep in full force and effect its existence and, except where the failure to do so would not reasonably be expected
to have a Material Adverse Effect, its franchises, bonds, authority to do business, licenses, patents, trademarks, copyrights,
contracts and other rights that are necessary for the Loan Parties and their Subsidiaries to conduct their respective businesses
as presently conducted, except for such patents, trademarks, copyrights, and other proprietary rights which, in the Loan Parties&rsquo;
reasonable good faith determination, are no longer used, useful, or valuable to their respective businesses; <I>provided, however,</I>
that nothing in this Section&nbsp;6.7 shall prevent, to the extent permitted by Section&nbsp;6.13, sales of assets by the Loan
Parties or any of their Subsidiaries, the dissolution or liquidation of any Subsidiary of any Loan Party, or the merger or consolidation
between or among the Subsidiaries of any Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts
with Affiliates</I>.<I> </I> No Loan Party shall, nor shall it permit any of its Subsidiaries to, enter into any contract, agreement
or business arrangement with any of its Affiliates (other than Wholly-owned Subsidiaries that are Loan Parties) on terms and conditions
which are less favorable to such Loan Party or such Subsidiary than would be usual and customary in similar contracts, agreements
or business arrangements between Persons not affiliated with each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
or Changes and Amendments</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, change its fiscal year or fiscal
quarters from its present basis or amend or change, or allow to be amended or changed: (a) its Organization Documents in any way
that could reasonably be expected to have a Material Adverse Effect; <I>provided</I> that prior to any amendment or modification
of such Loan Party&rsquo;s Organization Documents, the Borrower shall cause such Loan Party to furnish a true, correct and complete
copy of such proposed amendment or modification to the Administrative Agent, or (b) any Material Agreement in a manner that could
reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in the Nature of Business</I>.<I> </I>No Loan Party shall, nor shall it permit any of its Subsidiaries to, engage in any business
or activity if as a result the general nature of the business of such Loan Party or any of its Subsidiaries would be changed in
any material respect from the general nature of the business engaged in by it as of the Closing Date or a Related Line of Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness</I>.
No Loan Party shall, nor shall it permit any of its Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness,
including liabilities under any Hedging Agreement, except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
owed pursuant to Hedge Agreements entered into in the ordinary course of business and not for speculative purposes with Persons
other than Lenders (or their Affiliates);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;intercompany
Indebtedness among the Loan Parties to the extent permitted by Section&nbsp;6.14;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
Indebtedness consisting of Capitalized Lease Obligations of the Loan Parties, and (ii) Indebtedness secured by a Lien that is (A)
placed upon fixed or capital assets, acquired, constructed or improved by the Loan Parties so long as each such Lien shall only
attach to the property to be acquired, and the Indebtedness incurred shall not exceed one hundred percent (100%) of the purchase
price of the item or items purchased; <I>provided</I> that the aggregate outstanding principal amount (using Capitalized Lease
Obligations in lieu of principal amount, in the case of any Capital Lease) of Indebtedness permitted by this subpart (d) shall
not exceed $5,000,000 in the aggregate at any one time outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantees
made by the Parent of Indebtedness allowed under this Section 6.11, <I>provided</I> that such guarantees are made in the ordinary
course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mezzanine
Debt in an aggregate principal amount not to exceed the amount permitted by the Mezzanine Debt Subordination Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;endorsement
of items for deposit or collection of commercial paper received in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
incurred under the Bonding Agreements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
under tax-favored or government-sponsored financing transactions; <I>provided </I>that (x) the terms of such transactions and the
Loan Parties thereto have been approved by the Administrative Agent in its reasonable discretion and (ii) the aggregate principal
amount of such Indebtedness shall not exceed $1,000,000 at any one time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unsecured
Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $750,000
in the aggregate at any one time outstanding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
in respect of netting services, overdraft protections and other like services, in each case incurred in the ordinary course of
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens</I>.
No Loan Party shall, nor shall it permit any of its Subsidiaries to, create, incur or suffer to exist any Lien on any of its Property;
<I>provided</I> that the foregoing shall not prevent the following (the Liens described below, the <I>&ldquo;Permitted Liens&rdquo;</I>):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;inchoate
Liens for the payment of Taxes which are not yet delinquent or the payment of which is not required by Section&nbsp;6.6;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising by statute in connection with worker&rsquo;s compensation, unemployment insurance, old age benefits, social security obligations,
Taxes, assessments, statutory obligations or other similar charges (other than Liens arising under ERISA), good faith cash deposits
in connection with bids, tenders, contracts, or leases to which any Loan Party or any Subsidiary of any Loan Party is a party or
other cash deposits required to be made in the ordinary course of business, provided in each case that the obligation is not for
borrowed money and that the obligation secured is not overdue or, if overdue, is being contested in good faith by appropriate proceedings
which prevent enforcement of the matter under contest and for which adequate reserves have been established in accordance with
GAAP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
in respect of property or assets imposed by law that were incurred in the ordinary course of business, such as carriers&rsquo;,
suppliers&rsquo;, warehousemen&rsquo;s, materialmen&rsquo;s and mechanics&rsquo; Liens and other similar Liens arising in the ordinary
course of business, that do not in the aggregate materially detract from the value of such property or assets or materially impair
the use thereof in the operation of the business of the Borrower or any of its Subsidiaries and do not secure any Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
created by or pursuant to this Agreement and the Collateral Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
on Property of any Loan Party or any Subsidiary of any Loan Party created solely for the purpose of securing Indebtedness permitted
by Section&nbsp;6.11(d), representing or incurred to finance the purchase price of Property; <I>provided</I> that, no such Lien
shall extend to or cover other Property of such Loan Party or such Subsidiary other than the respective Property so acquired, and
the principal amount of indebtedness secured by any such Lien shall at no time exceed the purchase price of such Property, as reduced
by repayments of principal thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;easements,
permits, rights-of-way, encroachments, restrictions, zoning or building codes or ordinances, other land use laws regulating the
use or occupancy of real property or the activities conducted thereon which are imposed by any Governmental Authority and other
similar encumbrances against real property incurred in the ordinary course of business which, in the aggregate, are not substantial
in amount and which do not and are not likely, either individually or in the aggregate, to involve a substantial and prolonged
disruption of the business activities of any Loan Party or a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
granted to the Bonding Company to secure the performance of surety bonds in accordance with the terms of the Bonding Agreements;
<I>provided</I> that (i) such Liens are not perfected by the filing of a UCC Financing Statement, (ii) the Administrative Agent
continues to have, subject to common law subrogation rights created by or pursuant to the Bonding Agreements, subject to the Surety
Intercreditor Agreement a perfected, first priority Lien on any and all collateral referenced in such Bonding Agreements, and (iii)
such Liens do not include cash deposits or the issuance of letters of credit for the benefit of the Bonding Company, in each case,
in excess of $1,000,000 in the aggregate; <I>provided</I> that the Existing Letters of Credit shall be permitted hereunder notwithstanding
the foregoing $1,000,000 aggregate in clause (iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising from the rights of lessors under leases that are not Capital Leases (including financing statements regarding Property
subject to a lease) not in violation of the requirements of this Agreement; <I>provided</I> that such Liens are only in respect
of the Property subject to, and secure only, the respective lease (and any other lease with the same or an affiliated lessor);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising in connection with financing transactions permitted by Section 6.11(i); <I>provided</I> that such Liens do not at any time
encumber any Property except that financed in such transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
consisting of judgment or judicial attachment liens (other than for the payment of Taxes) in respect of judgments, the existence
of which do not constitute an Event of Default; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
in favor of collecting banks arising under Section 4-210 of the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidation,
Merger, and Sale of Assets</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, wind up, liquidate or dissolve
its affairs or merge or consolidate, or convey, sell, lease, or otherwise dispose of all or any part of its Property, including
any disposition as part of any sale-leaseback transactions except that this Section shall not prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale and lease of inventory in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer or other disposition of any tangible personal property that, in the reasonable judgment of the Loan Parties or their
Subsidiaries, has become obsolete, or worn out, or is no longer used or useful in the business of the Loan Parties and their Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer, lease, or other disposition of Property of any Loan Party to another Loan Party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
merger (or dissolution) of any Loan Party with and into the Borrower or any other Loan Party, <I>provided</I> that, in the case
of any merger (or dissolution) involving the Borrower, the Borrower is the legal entity surviving the merger (or dissolution);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
disposition or sale of Cash Equivalents on consideration for cash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale of vehicles in the ordinary course of business that are owned by the Loan Parties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
disposition or sale of the Florida Property,<I> provided</I> that the proceeds are used and applied as required by Section 2.8(b);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer, lease, or other disposition of Property of any Loan Party or any Subsidiary of any Loan party (including any disposition
of Property as part of a sale and leaseback transaction) having an aggregate fair market value of not more than $250,000 during
any fiscal year of the Borrower; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dispositions
resulting from an Event of Loss, <I>provided</I> that the proceeds are used and applied as required by Section 2.8(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advances,
Investments, and Loans</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make an
Investment except that this Section shall not prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;receivables
created in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in cash and Cash Equivalents; <I>provided</I> that the aggregate amount of all investments in cash and Cash Equivalents not held
in an account with the Administrative Agent or an account with another Lender subject to a control agreement in favor of the Administrative
Agent, in form and substance reasonably acceptable to the Administrative Agent, shall not exceed $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
(including debt obligations) (x) received in connection with the bankruptcy or reorganization of suppliers and customers and (y)
in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of
business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Loan Parties&rsquo; existing Investments in their respective Subsidiaries on the Closing Date, and Investments made from time to
time in other Loan Parties (other than the Parent);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;intercompany
advances made from time to time among the Loan Parties in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permitted
Acquisitions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;loans
and advances to employees (i) for business-related travel expenses, moving expenses, costs of replacement homes, business machines
or supplies, automobiles and other similar expenses, in each case incurred in the ordinary course of business and (ii) to finance
the purchase of Ownership Interests of Limbach, Inc. pursuant to that certain Omnibus Incentive Plan of Limbach, Inc., <I>provided</I>
that the aggregate outstanding amount of all such loans and advances under this clause (g) shall not exceed $500,000 in the aggregate
at any one time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;workers
compensation deposits, payment of any premiums on insurance policies, if any, and other deposits made in the ordinary course of
any Loan Party&rsquo;s business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in joint ventures of up to $1,000,000 in the aggregate at any one time, so long as (A) unless the grant thereof is precluded by
the applicable contractual provisions governing such joint venture, the Administrative Agent possesses a valid, perfected Lien
on the applicable Loan Party&rsquo;s interests in such joint venture, (B) any Indebtedness for borrowed money at any time Guaranteed
by any Loan Party on or after the date of such Investment is permitted Indebtedness under Section 6.11 of this Agreement and no
such Indebtedness is secured by Liens on any of the Property of any Loan Party, (C) the Borrower provides the Administrative Agent
with reasonable notice of all Investments to be made in joint ventures and provides any documents relating thereto reasonably requested
by the Administrative Agent, and (D) both before and after such Investments, no Default or Event of Default exists hereunder; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Investments in addition to those otherwise permitted by this Section in an amount not to exceed $250,000 in the aggregate at any
one time outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted
Payments</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, declare or make any
Restricted Payments; <I>provided, however,</I> that the foregoing shall not operate to prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
making of dividends or distributions by any Subsidiary to the Borrower or by any Subsidiary to any other Loan Party (other than
the Parent) that is the parent entity of such Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
making of Tax Distributions to the Parent and the Parent may, in turn, make Tax Distributions to Limbach, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;so
long as no Event of Default or Default exists or would result therefrom, the Borrower may purchase or redeem (or make distributions
to Limbach, Inc. to permit Limbach, Inc. to purchase or redeem) equity interests of Limbach, Inc. held by employees upon the termination
of such employees, pursuant to that certain Omnibus Incentive Plan of Limbach, Inc., not to exceed $100,000 in any fiscal year
of the Borrower or $500,000 in the aggregate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions
to the Parent and the Parent may, in turn, make distributions to Limbach, Inc., to pay (i) general administrative costs and expenses
in an aggregate amount not to exceed $1,000,000 in any fiscal year of the Parent, (ii) customary indemnifications of officers and
directors, and (iii) customary directors&rsquo; fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on Restrictions</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective any restriction on the ability of any such Loan Party or Subsidiary to (a)&nbsp;pay
dividends or make any other distributions on any Ownership Interests owned by a Loan Party or any Subsidiary, (b)&nbsp;pay or repay
any Indebtedness owed to any Loan Party or any Subsidiary, (c)&nbsp;make loans or advances to any Loan Party or any Subsidiary,
(d)&nbsp;transfer any of its Property to any Loan Party or any Subsidiary, (e)&nbsp;encumber or pledge any of its assets to or
for the benefit of the Administrative Agent, or (f)&nbsp;guaranty the Secured Obligations; <I>provided</I> that, the foregoing
shall not prevent restrictions contained in any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on Issuances of New Ownership Interests by Subsidiaries</I>. No Loan Party will permit any of its Subsidiaries to issue any new
Ownership Interests (including by way of sales of treasury stock); <I>provided </I>that, notwithstanding the foregoing, (a)&nbsp;Subsidiaries
shall be permitted to issue new Ownership Interests in connection with their creation, so long as such creation is in compliance
with Section 6.18, (b)&nbsp;so long as no Change of Control is caused thereby, the Loan Parties and their Subsidiaries shall be
permitted to issue Ownership Interests to effect a Permitted Acquisition and (c)&nbsp;the Loan Parties and their Subsidiaries shall
be permitted to issue new Ownership Interests in connection with the exercise of stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on the Creation of Subsidiaries</I>. Notwithstanding anything to the contrary contained in this Agreement, no Loan Party will,
nor will it permit any of its Subsidiaries to, establish, create or acquire after the Closing Date any Subsidiary; <I>provided</I>
that the Loan Parties shall be permitted to establish or create Wholly-owned Subsidiaries so long as at least thirty (30) days
(or such shorter period agreed to by the Administrative Agent) prior written notice thereof is given to the Administrative Agent,
and the Loan Parties timely comply with the requirements of Section&nbsp;4 (at which time Schedule 5.10 shall be deemed to include
a reference to such Subsidiary).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating
Accounts</I>. Each of the operating accounts, including all depository and remittance accounts, of the Loan Parties shall be at
all times maintained with the Administrative Agent or such other depository institution that is reasonably acceptable to the Administrative
Agent, except for Excluded Deposit Accounts consisting of payroll and petty cash accounts to serve Loan Party locations that can
not be reasonably served by the existing offices and branches of the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Covenants</I>. (a)&nbsp;<I>Total Leverage Ratio</I>. The Borrower and its Subsidiaries shall not, as of the last day of each fiscal
quarter of the Borrower ending during the periods specified below, permit the Total Leverage Ratio to be greater than:<B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-variant: small-caps">From and Including</FONT></TD>
    <TD STYLE="width: 31%; text-align: center"><FONT STYLE="font-variant: small-caps">To and Including</FONT></TD>
    <TD STYLE="width: 37%; text-align: center"><FONT STYLE="font-variant: small-caps">Total Leverage Ratio</FONT><BR>
<FONT STYLE="font-variant: small-caps">Shall Not Be Greater <BR>
Than:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">the Closing Date</TD>
    <TD STYLE="text-align: center">June 29, 2017</TD>
    <TD STYLE="text-align: center">3.65:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2017</TD>
    <TD STYLE="text-align: center">June 29, 2018</TD>
    <TD STYLE="text-align: center">3.50:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2018</TD>
    <TD STYLE="text-align: center">June 29, 2019</TD>
    <TD STYLE="text-align: center">3.25:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2019</TD>
    <TD STYLE="text-align: center">at all times thereafter</TD>
    <TD STYLE="text-align: center">3.00:1.00</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Senior Leverage Ratio</I>.
The Borrower and its Subsidiaries shall not, as of the last day of each fiscal quarter of the Borrower ending during the periods
specified below, permit the Senior Leverage Ratio to be greater than:<B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-variant: small-caps">From and Including</FONT></TD>
    <TD STYLE="width: 31%; text-align: center"><FONT STYLE="font-variant: small-caps">To and Including</FONT></TD>
    <TD STYLE="width: 37%; text-align: center"><FONT STYLE="font-variant: small-caps">Senior Leverage Ratio</FONT><BR>
<FONT STYLE="font-variant: small-caps">Shall Not Be Greater</FONT><BR>
<FONT STYLE="font-variant: small-caps"><BR>
Than:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">the Closing Date</TD>
    <TD STYLE="text-align: center">December 30, 2016</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">2.85:1.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">December 31, 2016</TD>
    <TD STYLE="text-align: center">June 29, 2017</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">2.75:1.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2017</TD>
    <TD STYLE="text-align: center">June 29, 2018</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">2.50:1.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2018</TD>
    <TD STYLE="text-align: center">June 29, 2019</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">2.25:1.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">June 30, 2019</TD>
    <TD STYLE="text-align: center">at all times thereafter</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">2.00:1.00</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Fixed
Charge Coverage Ratio</I>. As of the last day of each fiscal quarter of the Borrower, the Borrower and its Subsidiaries shall maintain
a Fixed Charge Coverage Ratio of not less than 1.25:1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Minimum
Tangible Net Worth</I>. The Loan Parties shall not permit the Tangible Net Worth to be less than $8,000,000 (the <I>&ldquo;Minimum
Tangible Net Worth&rdquo;</I>) at any time from and including the Closing Date to the end of the fiscal quarter ending December
31, 2016; <I>provided</I> that, as of January 1, 2017, and on January 1 of each fiscal year of the Parent thereafter, the Minimum
Tangible Net Worth shall increase by twenty-five percent (25%) of Net Income for the Parent&rsquo;s immediately prior fiscal year,
to the extent such Net Income is a positive amount (<I>i.e.</I> Minimum Tangible Net Worth shall not decrease on January 1 of any
fiscal year when the Net Income of the Parent&rsquo;s immediately prior fiscal year is less than zero ($0.00)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Equity
Cure.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Cash
Equity Contribution Requirements.</I> In the event the Borrower and its Subsidiaries fail to comply with the financial covenants
set forth in this Section&nbsp;6.20(a), (b), (c) or (d) as of the last day of any fiscal quarter, any cash equity contribution
by Limbach, Inc. to the Parent, which, in turn, will make a cash equity contribution to the Borrower, after the last day of such
fiscal quarter and on or prior to the day that is fifteen (15) days after the day on which financial statements are required to
be delivered for such fiscal quarter will, at the irrevocable election of the Borrower, be included in the calculation of EBITDA
solely for the purposes of determining compliance with such covenants at the end of such fiscal quarter and any subsequent period
that includes such fiscal quarter (any such equity contribution so included in the calculation of EBITDA, a <I>&ldquo;Specified
Equity Contribution&rdquo;</I>); <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notice
of the Borrower&rsquo;s intent to receive a Specified Equity Contribution shall be delivered in writing no later than the day on
which financial statements are required to be delivered for the applicable fiscal quarter,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
amount of any Specified Equity Contribution will be no greater than the amount required to cause the Borrower to be in compliance
with such covenants,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Specified Equity Contributions will be disregarded for purposes of the calculation of EBITDA for all other purposes, including
calculating basket levels, pricing, determining compliance with incurrence based or <I>pro forma</I> calculations or conditions,
and other items governed by reference to EBITDA,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
shall be no more than three (3) Specified Equity Contributions during the term of this Agreement,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
each consecutive two fiscal quarter period, there shall be a period of at least one (1) fiscal quarter in respect of which no Specified
Equity Contribution is made,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(F)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
proceeds received by the Borrower from all Specified Equity Contributions shall be promptly used by the Borrower to prepay the
Term Loans, and shall be applied to the remaining principal installments thereof in inverse order of maturity, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(G)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loans prepaid with the proceeds of Specified Equity Contributions shall be deemed outstanding for purposes of determining compliance
with such covenants for the current fiscal quarter and any subsequent period that includes such fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notwithstanding anything to the
contrary in this Agreement, upon timely receipt by the Borrower in cash of the appropriate Specified Equity Contribution, if after
giving effect thereto as set forth above no Event of Default would then exist under Section&nbsp;6.20(a), (b), (c) and/or (d) on
a <I>pro forma</I> basis, the applicable Event(s) of Default under Section&nbsp;6.20(a), (b), (c) and/or (d) shall be deemed cured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Equity Cure Terms. </I>Notwithstanding the foregoing, no single Specified Equity Contribution shall exceed&nbsp;$1,000,000 and
the Specified Equity Contributions shall not exceed&nbsp;$2,500,000 in the aggregate during the term of this Agreement. In the
event that (A)&nbsp;no Event of Default exists other than that arising due to the failure of the Loan Parties to comply with the
financial covenants set forth in Section&nbsp;6.20(a), (b). (c) or (d), and (B)&nbsp;such Specified Equity Contribution if fully
consummated would be sufficient in accordance with the terms hereof to cause the Borrower and its Subsidiaries to be in compliance
with Section&nbsp;6.20(a), (b), (c) and/or (d), as applicable, as of the relevant date of determination, then from and following
the date of the occurrence of the applicable Event of Default and until the date that is the earlier of (x)&nbsp;fifteen (15) days
subsequent to the date the applicable financial statements are required to be delivered and (y)&nbsp;the date, if any, on which
the Borrower notifies the Administrative Agent in writing that such Specified Equity Contribution shall not be exercised, then
neither Administrative Agent nor any Lender shall exercise any remedies set forth in Section&nbsp;2.4(c) or Section&nbsp;7 during
such period solely as a result of the existence of such Event of Default; <I>provided,</I> that so long as any Default or Event
of Default shall be in existence due to failure of the Borrower and its Subsidiaries to comply with the financial covenants set
forth in Section&nbsp;6.20(a), (b), (c) or (d), none of the Administrative Agent, L/C&nbsp;Issuer , or any Lender shall be required
to advance any Loans and/or issue any Letters of Credit, and all rights and remedies available to such parties other than those
set forth in Section&nbsp;7 shall be available to such parties; <I>provided further</I>, that in the event notice of such Specified
Equity Contribution is given but such Specified Equity Contribution is not exercised, the Administrative Agent (acting at the request
or with the consent of the Required Lenders) may elect pursuant to Section&nbsp;2.4(c) to have the outstanding Obligations accrue
interest at the default rates effective retroactively from the date of the occurrence of the applicable Event of Default.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Sanctions Programs. </I> (a)&nbsp;Each Loan Party shall at all times comply with the requirements of all Sanctions Programs
applicable to such Loan Party and shall cause each of its Subsidiaries to comply with the requirements of all Sanctions Programs
applicable to such Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Loan Party shall provide the Administrative Agent, the L/C Issuer, and the Lenders any information regarding such Loan Party, its
Affiliates, and its Subsidiaries necessary for the Administrative Agent, the L/C Issuer, and the Lenders to comply with all applicable
Sanctions Programs; subject however, in the case of Affiliates, to such Loan Party&rsquo;s ability to provide information applicable
to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Loan Party obtains actual knowledge or receives any written notice that such Loan Party, any of its officers or directors,
any Affiliate, or any Subsidiary is named on any then current Sanctions List (such occurrence, a <I>&ldquo;Sanctions Event&rdquo;</I>),
such Loan Party shall promptly (i) give written notice to the Administrative Agent, the L/C Issuer, and the Lenders of such Sanctions
Event, and (ii) comply with all applicable laws with respect to such Sanctions Event (regardless of whether the party included
on the Sanctions List is located within the jurisdiction of the United States of America), including the Sanctions Programs, and
each Loan Party hereby authorizes and consents to the Administrative Agent, the L/C Issuer, and the Lenders taking any and all
steps the Administrative Agent, the L/C Issuer, or the Lenders deem necessary, in their sole but reasonable discretion, to avoid
violation of all applicable laws with respect to any such Sanctions Event, including the requirements of the Sanctions Programs
(including the freezing and/or blocking of assets and reporting such action to OFAC and/or the U.S. Department of Treasury&rsquo;s
Office of Foreign Assets Control).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Loan Party will use any proceeds of the Loans (and the Borrower shall not request any Letter of Credit, the proceeds of which,
to the knowledge of the Loan Parties, will be used to) finance or otherwise fund, directly or indirectly, (i) any activity or business
with or related to any Sanctioned Person or any Sanctioned Country or (ii) in any other manner that will result in a violation
of any Sanctions Program by any Person (including any Person participating in the Loans or Letters of Credit, whether as lender,
underwriter, advisor, investor, or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated
Debt. </I>No Loan Party shall, nor shall it permit any of its Subsidiaries to, (a) amend or modify any of the terms or conditions
relating to Subordinated Debt; <I>provided</I>, that that the Loan Parties may amend or modify the terms or conditions relating
to Mezzanine Subordinated Debt so long as such amendment or modification is not in violation of Section 5.8 of the Mezzanine Subordination
Agreement, (b) make any voluntary prepayment of Subordinated Debt or effect any voluntary redemption thereof; <I>provided</I>,
that the Loan Parties shall be permitted after June 1 of each fiscal year, beginning June 1, 2018, to make a single voluntary prepayment
of Mezzanine Subordinated Debt so long as (i) prior to such voluntary prepayment, the Loan Parties have made the mandatory Excess
Cash Flow payment set forth in Section 2.8(b)(v) hereof, if any, (ii) immediately prior to, and after giving <I>pro forma</I> effect
to, the voluntary prepayment, (A) the Senior Leverage Ratio shall be no greater than 0.25 less than the most recently applicable
Senior Leverage Ratio required under Section 6.20(b), (B) the Loan Parties are in compliance with the most recently applicable
covenants set forth in Sections 6.20(a), (c) and (d), (C) no Default or Event of Default shall exist, and (D) the Borrower has
(x) Unused Revolving Credit Commitments plus unrestricted cash and Cash Equivalents and (y) Borrowing Base Availability plus unrestricted
cash and Cash Equivalents, in each case, of at least $10,000,000, and (iii) the Borrower has delivered to the Administrative Agent
a compliance certificate in the form of Exhibit E attached hereto evidencing compliance with the financial covenants as set forth
above, or (c) make any payment on account of Subordinated Debt, in each case of (a), (b) and (c), that is prohibited under the
terms of the applicable Subordination Agreement. Notwithstanding the foregoing, the Loan Parties may agree to a decrease in the
interest rate applicable thereto or to a deferral of repayment of any of the principal of or interest on the Subordinated Debt
beyond the current due dates therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Accounts. </I>To the extent not otherwise disclosed in a Borrowing Base Certificate previously delivered to the Administrative
Agent, the Borrower shall notify the Administrative Agent promptly upon learning of (i)&nbsp;any event or circumstance which, to
any Loan Party&rsquo;s knowledge, would result in any existing material Account no longer constituting an Eligible Account and
(ii)&nbsp;all material adverse information relating to the financial condition of any material Account Debtor of the Borrower and
its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit
Enhancements. </I>If the Mezzanine Agent or any Mezzanine Lender receives any additional guarantee, or other credit enhancement
(which shall not for such purpose include payment of any fee) under the Mezzanine Debt Documents after the Closing Date not substantially
provided for in the Loan Documents, the Borrower shall cause the same to be granted to the Administrative Agent, for the benefit
of the Administrative Agent and the Lenders, subject to the terms of the Mezzanine Subordination Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitations
on Parent. </I> Parent shall not, directly or indirectly, (a)&nbsp;other than with respect to its own Ownership Interests, enter
into or permit to exist any transaction (including the incurrence or assumption of Indebtedness (other than this Agreement, the
other Loan Documents, and Indebtedness permitted by Section 6.11), any purchase, sale, lease or exchange of any Property, or the
rendering of any service) between itself and any other Person or (b) engage in any material business or conduct any material activity
(including the making of any investment or payment other than payments permitted hereunder), in each case, other than:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investments
in the Borrower and Subsidiaries permitted hereunder,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
performance of ministerial activities and payment of taxes and administrative fees necessary for the maintenance of its existence
and compliance with applicable laws and legal, tax and accounting matters related thereto,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;transactions
or activities relating to its employees, directors and officers,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;activities
relating to the performance of obligations under the Loan Documents,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
receipt and payment of Restricted Payments permitted under Section 6.15,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other transaction or activity that Parent is permitted to take under any Loan Document,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
performance of its obligations with respect to the Loan Documents,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;financing
activities, including the issuance of securities, the providing of guarantees, payment of dividends, and making contributions to
the capital of the Borrower, in each instance to the extent expressly permitted hereby,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;holding
any cash or property (but not operating any property of any Loan Party or operating any business, except as otherwise permitted
by this Section),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;providing
indemnification to officers, managers and directors, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;activities
and contractual rights and obligations incidental and reasonably related to the businesses or activities described in clauses (i)
through (x) of this Section 6.25.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonding
Capacity.</I> The Borrower and its Subsidiaries shall (i) have <FONT STYLE="font-family: Times New Roman, Times, Serif">available
bonding capacity under one or more Bonding Agreements in an amount sufficient to operate their respective businesses in the ordinary
course, and (ii) be in compliance in all material respects with all terms and conditions set forth in each Bonding Agreement and
shall not permit a default to occur thereunder, except as </FONT>permitted by Section&nbsp;5.24(b) and to the extent such a default
would not constitute an Event of Default under Section 7.1(l). No Loan Party shall modify any term of any Bonding Agreement such
that the Property subject to any Lien in favor of the Bonding Company attaches to any Property not directly connected to the applicable
Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use
of Proceeds. </I>The Borrower shall use all proceeds of the Loans solely for the purposes set forth in, or otherwise permitted
by, Section 5.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing
Matters. </I>The Loan Parties shall execute and deliver the documents and complete the tasks expressed on Schedule 6.28 in each
instance within the time limits specified on such Schedule<I>.</I></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Events
of Default and Remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Events
of Default.</I> Any one or more of the following shall constitute an <I>&ldquo;Event of Default&rdquo;</I> hereunder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
default in the payment when due (whether at the stated maturity thereof or at any other time provided for in this Agreement) of
all or any part of the principal of any Loan or (ii) default for a period of five (5) Business Days in the payment when due of
any interest, fee or any other Obligation payable hereunder or under any other Loan Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;default
in the observance or performance of any covenant set forth in Sections&nbsp;6.1, 6.4, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12, 6.13, 6.14,
6.15, 6.16, 6.17, 6.18, 6.19, 6.20, 6.21, 6.22, 6.25, 6.26, 6.27 or 6.28<B> </B>or of any provision in any Loan Document dealing
with the use, disposition or remittance of the proceeds of Collateral or requiring the maintenance of insurance thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;default
in the observance or performance of any other provision hereof or of any other Loan Document which is not remedied within thirty
(30)&nbsp;days after the earlier of (i)&nbsp;the date on which such default shall first become known to any officer of any Loan
Party or (ii)&nbsp;written notice of such default is given to the Borrower by the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
representation or warranty made herein or in any other Loan Document or in any certificate delivered to the Administrative Agent
or the Lenders pursuant hereto or thereto or in connection with any transaction contemplated hereby or thereby proves untrue in
any material respect as of the date of the issuance or making or deemed making thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;any
event occurs or condition exists (other than those described in subsections&nbsp;(a) through (d) above) which is specified as an
event of default under any of the other Loan Documents (after the expiration of any applicable cure or grace period), or (ii)&nbsp;any
of the Loan Documents shall for any reason not be or shall cease to be in full force and effect or is declared to be null and void,
or (iii)&nbsp;any of the Collateral Documents shall for any reason fail to create a valid and perfected first priority Lien in
favor of the Administrative Agent in any Collateral purported to be covered thereby except as expressly permitted by the terms
thereof or the terms of this Agreement, (iv)&nbsp;any Loan party takes any action for the purpose of terminating, repudiating or
rescinding any Loan Document executed by it or any of its obligations thereunder, or (v)&nbsp;any Loan Party or any Subsidiary
of a Loan Party makes any payment on account of any Subordinated Debt which is prohibited under the terms of any instrument subordinating
such Subordinated Debt to any Secured Obligations, or any subordination provision in any document or instrument (including, without
limitation, any intercreditor or subordination agreement) relating to any Subordinated Debt shall cease to be in full force and
effect, or any Person (including the holder of any Subordinated Debt) shall contest in any manner the validity, binding nature
or enforceability of any such provision;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;an
&ldquo;Event of Default&rdquo; (as defined in any of the Mezzanine Debt Documents) shall occur and is continuing, (ii) any default
shall occur under any&nbsp;Indebtedness of any Loan Party aggregating in excess of $500,000, or under any indenture, agreement
or other instrument under which the same may be issued, and with respect to (i) and (ii), such default shall continue for a period
of time sufficient to permit the acceleration of the maturity of any such Indebtedness (whether or not such maturity is in fact
accelerated), or any such Indebtedness shall not be paid when due (whether by demand, lapse of time, acceleration or otherwise),
in each case after giving effect to applicable grace or cure periods, if any, (iii) any default shall occur under&nbsp;any Hedge
Agreement of any Loan Party with any Lender or any Affiliate of a Lender, or (iv)&nbsp;any party to the Mezzanine Subordination
Agreement or to any other Subordination Agreement breaches or violates, or attempts to terminate or challenge the validity of,
the Mezzanine Subordination Agreement, or the Mezzanine Subordination Agreement or such other Subordination Agreement shall be
invalid or unenforceable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;any
final judgment or judgments, writ or writs or warrant or warrants of attachment, or any similar process or processes, shall be
entered or filed against any Loan Party, or against any of its Property, in an aggregate amount in excess of $500,000 (except to
the extent fully and unconditionally covered by insurance pursuant to which the insurer has accepted liability therefor in writing
and except to the extent fully and unconditionally covered by an appeal bond, for which such Loan Party has established in accordance
with GAAP a cash or Cash Equivalent reserve in the amount of such judgment, writ or warrant), and which remains undischarged, unvacated,
unbonded or unstayed for a period of thirty (30) days, or any action shall be legally taken by a judgment creditor to attach or
levy upon any Property of any Loan Party to enforce any such judgment, or (ii) any Loan Party shall fail within thirty (30) days
to discharge one or more non-monetary judgments or orders which, individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect, which judgments or orders, in any such case, are not stayed on appeal or otherwise being appropriately
contested in good faith by proper proceedings diligently pursued;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
occurrence of (a) an ERISA Event with respect to a Plan or a Multiemployer Plan that, individually or in the aggregate, has resulted
in or could reasonably be expected to result in liability in excess of $750,000; <I>provided</I> that with respect to an ERISA
Event of the type described in clause (i) of the ERISA Event definition relating to a Multiemployer Plan being in endangered or
critical status, an Event of Default shall occur only if either (i) in addition to the dollar amount set forth above in this clause
(a), a Loan Party or any member of its Controlled Group fails to timely satisfy a requirement resulting from such status or (ii)
the dollar amount set forth above in this clause (a), measured for any one-year period, is exceeded, or (b)&nbsp;any event that
could reasonably be expected to result in the imposition of a Lien under Section 430(k) of the Code or Section 303 or 4068 of ERISA
on any assets of a Loan Party or a Subsidiary of a Loan Party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limbach,
Inc. (i) shall, within ninety (90) days after the Closing Date (which ninety (90) day period may be extended by the Administrative
Agent in its sole discretion), fail to submit an application to be listed on the NASDAQ Capital Market or (ii) ceases to have its
securities registered with the Securities and Exchange Commission pursuant to Section 12(b) of the Securities and Exchange Act
of 1934;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loan Party shall (i)&nbsp;have entered involuntarily against it an order for relief under the United States Bankruptcy Code, as
amended, (ii)&nbsp;not pay, or admit in writing its inability to pay, its debts generally as they become due, (iii)&nbsp;make an
assignment for the benefit of creditors, (iv)&nbsp;apply for, seek, consent to or acquiesce in, the appointment of a receiver,
custodian, trustee, examiner, liquidator or similar official for it or any substantial part of its Property, (v)&nbsp;institute
any proceeding seeking to have entered against it an order for relief under the United States Bankruptcy Code to adjudicate it
insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its
debts under any Debtor Relief Law or fail to file an answer or other pleading denying the material allegations of any such proceeding
filed against it, (vi)&nbsp;take any action in furtherance of any matter described in parts&nbsp;(i) through (v) above, or (vii)&nbsp;fail
to contest in good faith any appointment or proceeding described in Section&nbsp;7.1(k);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
custodian, receiver, trustee, examiner, liquidator or similar official shall be appointed for any Loan Party, or any substantial
part of any of its Property, or a proceeding described in Section&nbsp;7.1(j)(v) shall be instituted against any Loan Party, and
such appointment continues undischarged or such proceeding continues undismissed or unstayed for a period of sixty (60)&nbsp;days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to the <FONT STYLE="font-family: Times New Roman, Times, Serif">Bonding Agreements:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i) the Bonding
Company for any reason ceases to issue bonds, undertakings or instruments of guaranty and the amount of such reduction in bonding
capacity exceeds $100,000,000 and the Borrower and its Subsidiaries shall fail to cause another Person reasonably acceptable to
the Administrative Agent (provided that any such Person shall be deemed to be acceptable if its bonds, undertakings or instruments
of guaranty are accepted by contract providers for the Borrower and its Subsidiaries) to issue bonds, undertakings or instruments
of guaranty pursuant to a Required Bonding Facility within fifteen (15) days of the date that the Bonding Company ceased to issue
bonds, undertakings or instruments of guaranty; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii) (A) at
any time, the Bonding Company for the Borrower or any of its Subsidiaries shall violate any term of the Surety Intercreditor Agreement,
which violation would adversely affect the rights or interests of the Administrative Agent or the Lenders under the Loan Documents
and such violation shall continue for a period of five (5) Business Days after the Administrative Agent&rsquo;s delivery of written
notice thereof to the Bonding Company and the Borrower, (B) the Bonding Company exercises any rights or remedies with respect to
any Collateral in excess of $100,000 (as determined by the Administrative Agent in its reasonable judgment), or (C) the Bonding
Company takes possession of any Collateral in excess of $100,000 (as determined by the Administrative Agent in its reasonable judgment)
and such action continues for a period of five (5) Business Days after the earlier of (A) the Administrative Agent&rsquo;s delivery
of written notice thereof to the Borrower and (B) a Duly Authorized Officer having obtained knowledge thereof; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii) the Borrower
or any of its Subsidiaries defaults in the payment when due of any amount due under any Bonding Agreement or breaches or defaults
with respect to any other term of any Bonding Agreement and (x) such failure continues unremedied for a period of five (5) Business
Days or (y) if the effect of such failure to pay, default or breach is to cause the Bonding Company to take possession of the work
under any of the bonded contracts of the Borrower or any of its Subsidiaries and value of the contract or project that has been
taken over by the Bonding Company exceeds $500,000 (as determined by the Administrative Agent in its reasonable judgment); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iv) the Borrower
or any Subsidiary breaches or defaults with respect to any term under any of the bonded contracts of the Borrower or such Subsidiary,
if the effect of such default or breach is to cause the Bonding Company to take possession of the work under such bonded contract
and value of the contract or project that has been taken over by the Bonding Company exceeds $500,000 (as determined by the Administrative
Agent in its reasonable judgment);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
notice of Lien, levy or assessment (other than with respect to a permitted Lien) is filed or recorded with respect to any of the
assets of the Parent or any of its Subsidiaries (including, without limitation, the Collateral) by the United States, or any department,
agency or instrumentality thereof, or by any state, county, municipality or other governmental agency or any taxes or debts owing
at any time or times hereafter to any one or more of them become a Lien (other than a permitted Lien), upon any of the assets of
the Parent or any of its Subsidiaries (including, without limitation, the Collateral), in each case, other than a Lien permitted
under Section 6.12);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Parent or any of its Subsidiaries is enjoined, restrained, or in any way prevented by the order of any court or any administrative
or regulatory agency from conducting all or any material part of its business affairs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
shall be instituted in any court criminal proceedings against the Parent or any of its Subsidiaries or the Parent or any of its
Subsidiaries shall be indicted for any crime, in either case, for which the forfeiture of greater than five percent (5.00%) of
the consolidated assets of the Loan Parties is a reasonably likely penalty; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loan Party shall be subject to suspension or debarment proceedings by the government of the United States, or any department, agency
or instrumentality thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Bankruptcy
Defaults.</I> When any Event of Default exists other than those described in subsection&nbsp;(j) or (k) of Section&nbsp;7.1, the
Administrative Agent shall, by written notice to the Borrower: (a)&nbsp;if so directed by the Required Lenders, terminate the remaining
Commitments and all other obligations of the Lenders hereunder on the date stated in such notice (which may be the date thereof);
(b)&nbsp;if so directed by the Required Lenders, declare the principal of and the accrued interest on all outstanding Loans to
be forthwith due and payable and thereupon all outstanding Loans, including both principal and interest thereon, shall be and become
immediately due and payable together with all other amounts payable under the Loan Documents without further demand, presentment,
protest or notice of any kind; and (c)&nbsp;if so directed by the Required Lenders, demand that the Borrower immediately Cash Collateralize
105% of the then outstanding amount of all L/C Obligations, and the Borrower agrees to immediately provide such Cash Collateral
and acknowledges and agrees that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any
such demand and that the Administrative Agent, for the benefit of the Lenders, shall have the right to require the Borrower to
specifically perform such undertaking whether or not any drawings or other demands for payment have been made under any Letter
of Credit. The Administrative Agent, after giving notice to the Borrower pursuant to Section&nbsp;7.1(c) or this Section&nbsp;7.2,
shall also promptly send a copy of such notice to the other Lenders, but the failure to do so shall not impair or annul the effect
of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bankruptcy
Defaults</I>. When any Event of Default described in subsections&nbsp;(j) or (k) of Section&nbsp;7.1 exists, then all outstanding
Obligations shall immediately and automatically become due and payable together with all other amounts payable under the Loan Documents
without presentment, demand, protest or notice of any kind (each of which is hereby waived by the Borrower), the Commitments and
all other obligations of the Lenders to extend further credit pursuant to any of the terms hereof shall immediately and automatically
terminate and the Borrower shall immediately Cash Collateralize 105% of the then outstanding amount of all L/C Obligations, the
Borrower acknowledging and agreeing that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor
any such demand and that the Lenders, and the Administrative Agent on their behalf, shall have the right to require the Borrower
to specifically perform such undertaking whether or not any draws or other demands for payment have been made under any of the
Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateral
for Undrawn Letters of Credit</I>. If Cash Collateral for drawings under any or all outstanding Letters of Credit is required under
Section&nbsp;2.3(b) or under Section&nbsp;7.2 or under Section&nbsp;7.3, the Borrower shall forthwith Cash Collateralize the amount
required as provided in Section 4.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice
of Default</I>. The Administrative Agent shall give notice to the Borrower under Section&nbsp;7.1(c) promptly upon being requested
to do so by any Lender and shall thereupon notify all the Lenders thereof.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Circumstances and Contingencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Funding
Indemnity</I>. If any Lender shall incur any loss, cost or expense (including any loss, cost or expense incurred by reason of the
liquidation or re-employment of deposits or other funds acquired by such Lender to fund or maintain any Eurodollar Loan or Swing
Loan or the relending or reinvesting of such deposits or amounts paid or prepaid to such Lender or by reason of breakage of interest
rate swap agreements or the liquidation of other Hedge Agreements or incurred by reason of an assignment required by Section 10.2(b))
as a result of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
payment, prepayment or conversion of a Eurodollar Loan or Swing Loan on a date other than the last day of its Interest Period,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
failure (because of a failure to meet the conditions of Section&nbsp;3 or otherwise) by the Borrower to borrow or continue a Eurodollar
Loan or Swing Loan, or to convert a Base Rate Loan into a Eurodollar Loan or Swing Loan, on the date specified in a notice given
pursuant to Section&nbsp;2.5(a), other than as a result of the application of Sections 8.2 or 8.3,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
failure by the Borrower to make any payment of principal on any Eurodollar Loan or Swing Loan when due (whether by acceleration
or otherwise), or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
acceleration of the maturity of a Eurodollar Loan or Swing Loan as a result of the occurrence of any Event of Default hereunder,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">then, upon the written demand of such Lender,
the Borrower shall pay to such Lender such amount as will reimburse such Lender for such loss, cost or expense. If any Lender makes
such a claim for compensation, it shall provide to the Borrower, with a copy to the Administrative Agent, a certificate setting
forth the amount of such loss, cost or expense in reasonable detail and the amounts shown on such certificate shall be conclusive
absent manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illegality</I>.
Notwithstanding any other provisions of this Agreement or any other Loan Document, if at any time any Change in Law makes it unlawful
for any Lender to make or continue to maintain any Eurodollar Loans or to perform its obligations as contemplated hereby, such
Lender shall promptly give notice thereof to the Borrower and the Administrative Agent and such Lender&rsquo;s obligations to make
or maintain Eurodollar Loans under this Agreement shall be suspended until it is no longer unlawful for such Lender to make or
maintain Eurodollar Loans. The Borrower shall prepay on demand the outstanding principal amount of any such affected Eurodollar
Loans, together with all interest accrued thereon and all other amounts then due and payable to such Lender under this Agreement;
<I>provided, however,</I> subject to all of the terms and conditions of this Agreement, the Borrower may then elect to borrow the
principal amount of the affected Eurodollar Loans from such Lender by means of Base Rate Loans from such Lender, which Base Rate
Loans shall not be made ratably by the Lenders but only from such affected Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unavailability
of Deposits or Inability to Ascertain, or Inadequacy of, LIBOR</I>. If on or prior to the first day of any Interest Period for
any Borrowing of Eurodollar Loans:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Administrative Agent determines that deposits in Dollars (in the applicable amounts) are not being offered to it in the interbank
eurodollar market for such Interest Period, or that by reason of circumstances affecting the interbank eurodollar market adequate
and reasonable means do not exist for ascertaining the applicable LIBOR, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Required Lenders advise the Administrative Agent that (i) LIBOR as determined by the Administrative Agent will not adequately and
fairly reflect the cost to such Lenders of funding their Eurodollar Loans for such Interest Period or (ii) that the making or funding
of Eurodollar Loans become impracticable,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">then the Administrative Agent shall forthwith
give written notice thereof to the Borrower and the Lenders, whereupon until the Administrative Agent notifies the Borrower that
the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make Eurodollar Loans shall
be suspended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increased
Costs</I>. (a)&nbsp;<I>Increased Costs Generally</I>. If any Change in Law shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except with respect to the applicable
Reserve Percentage with respect to any Eurodollar Loans) or the L/C Issuer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose
on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense (other than Taxes) affecting
this Agreement or Loans made by such Lender or any Letter of Credit or participation therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">and the result of any of the foregoing
shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan
or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender, the L/C Issuer or such other Recipient
of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue
any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender, L/C Issuer or other Recipient
hereunder (whether of principal, interest or any other amount) then, upon request of such Lender, L/C Issuer or other Recipient,
the Borrower will pay to such Lender, L/C Issuer or other Recipient, as the case may be, such additional amount or amounts as will
compensate such Lender, L/C Issuer or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Capital
Requirements</I>. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or
any lending office of such Lender or such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company, if any, regarding capital or
liquidity requirements, has or would have the effect of reducing the rate of return on such Lender&rsquo;s or the L/C Issuer&rsquo;s
capital or on the capital of such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company, if any, as a consequence of this Agreement,
the Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swing Loans held by, such Lender,
or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender&rsquo;s
or the L/C Issuer&rsquo;s holding company could have achieved but for such Change in Law (taking into consideration such Lender&rsquo;s
or the L/C Issuer&rsquo;s policies and the policies of such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company with respect
to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional
amount or amounts as will compensate such Lender or the L/C Issuer or such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company
for any such reduction suffered</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certificates
for Reimbursement</I>. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate
such Lender or the L/C Issuer or its holding company, as the case may be, as specified in Section 8.4(a) or&nbsp;(b) above which
shall include the basis for and calculation of such requested compensation and delivered to the Borrower, shall be conclusive absent
manifest error. The Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate
within ten (10)&nbsp;Business Days after receipt thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Delay
in Requests</I>. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to this Section shall
not constitute a waiver of such Lender&rsquo;s or the L/C Issuer&rsquo;s right to demand such compensation; <I>provided</I> that
the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to this Section for any increased costs incurred
or reductions suffered more than nine months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies
the Borrower of the Change in Law giving rise to such increased costs or reductions, and of such Lender&rsquo;s or the L/C Issuer&rsquo;s
intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discretion
of Lender as to Manner of Funding</I>. Notwithstanding any other provision of this Agreement, each Lender shall be entitled to
fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for
the purposes of this Agreement all determinations hereunder with respect to Eurodollar Loans shall be made as if each Lender had
actually funded and maintained each Eurodollar Loan through the purchase of deposits in the interbank eurodollar market having
a maturity corresponding to such Loan&rsquo;s Interest Period, and bearing an interest rate equal to LIBOR for such Interest Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defaulting
Lenders.</I> (a)&nbsp;<I>Adjustments</I>. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes
a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable
law:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Waivers
and Amendments</I>. Such Defaulting Lender&rsquo;s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definition of Required Lenders and Section 10.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Defaulting
Lender Waterfall</I>. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 7 or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section&nbsp;10.13 shall be applied by the Administrative Agent as follows:
<I>first</I>, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; <I>second</I>,
to the payment on a <I>pro rata</I> basis of any amounts owing by such Defaulting Lender to the L/C Issuer or the Swing Line Lender;
<I>third</I>, to Cash Collateralize contingent funding obligations of such Defaulting Lender in respect of any participation in
any Swing Loan or Letter of Credit; <I>fourth</I>, as the Borrower may request (so long as no Default or Event of Default exists),
to the funding of any Loan in respect of which that Defaulting Lender has failed to fund as required by this Agreement, as determined
by the Administrative Agent; <I>fifth</I>, if so determined by the Administrative Agent and the Borrower, to be held in a deposit
account and to be released <I>pro rata</I> in order to satisfy obligations of such Defaulting Lender to fund Loans under this Agreement
and Cash Collateralize contingent funding obligations of such Defaulting Lender in respect of participation in any future Swing
Loan or future Letter of Credit; <I>sixth</I>, to the payment of any amounts owing to the Lenders, the L/C Issuer or the Swing
Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swing
Line Lender against such Defaulting Lender as a result of such Defaulting Lender&rsquo;s breach of its obligations under this Agreement;
<I>seventh</I>, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result
of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such
Defaulting Lender's breach of its obligations under this Agreement; and <I>eighth</I>, to such Defaulting Lender or as otherwise
directed by a court of competent jurisdiction; <I>provided</I> that if (x)&nbsp;such payment is a payment of the principal amount
of any Loans or L/C Obligations in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y)&nbsp;such
Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 3.1 were satisfied
or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on
a <I>pro rata</I> basis in accordance with their Percentages under the applicable Credit prior to being applied to the payment
of any Loans of, or L/C Obligations owed to such Defaulting Lender. Any payments, prepayments or other amounts paid or payable
to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant
to this Section&nbsp;8.6 shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents
hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certain
Fees</I>. (A) No Defaulting Lender shall be entitled to receive any commitment fee under Section 2.13(a) or any amendment fees,
waiver fees, or similar fees for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required
to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Defaulting Lender shall be entitled to receive any L/C Participation Fee under Section 2.13(b) and amounts owed to it in respect
of participating interest in Swing Loans under Section&nbsp;2.11(e) for any period during which that Lender is a Defaulting Lender
only to the extent allocable to its Percentage of the stated amount of Letters of Credit and participating interests in Swing Loans
for which it has provided Cash Collateral pursuant to Section 4.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any fees not required to be paid to any Defaulting Lender pursuant to clause (A) or (B) above, the Borrower shall (x)
pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such
Defaulting Lender&rsquo;s participation in Letters of Credit or Swing Loans that has been reallocated to such Non-Defaulting Lender
pursuant to clause (iv) below, (y) pay to the Swing Line Lender and to each L/C Issuer, as applicable, the amount of any such fee
otherwise payable to such Defaulting Lender to the extent allocable to the Swing Line Lender&rsquo;s or such L/C Issuer&rsquo;s
Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reallocation
of Participations to Reduce Fronting Exposure</I>. All or any part of such Defaulting Lender&rsquo;s participation in L/C Obligations
and Swing Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Percentages (calculated
without regard to such Defaulting Lender&rsquo;s Commitment) but only to the extent that (A) the conditions set forth in Section&nbsp;3.1
are satisfied at such time (and, unless the Borrower shall have otherwise notified the Administrative Agent at the time, the Borrower
shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (B) such reallocation does
not cause the aggregate principal amount of Revolving Loans and participating interests in L/C Obligations and Swing Loans of any
Non-Defaulting Lender to exceed such Non-Defaulting Lender&rsquo;s Revolving Credit Commitment. No reallocation hereunder shall
constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having
become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender&rsquo;s increased
exposure following such reallocation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Cash
Collateral</I>. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall,
without prejudice to any right or remedy available to it hereunder or under law, within three (3) Business Days following notice
by the Administrative Agent, Cash Collateralize such Defaulting Lender&rsquo;s interests in L/C Obligations and Swing Loans (after
giving effect to any partial reallocation pursuant to clause (iv) above) in accordance with the procedures set forth in Section&nbsp;4.5
for so long as such interests in L/C Obligations and Swing Loans are outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Defaulting
Lender Cure</I>. If the Borrower, the Administrative Agent, the Swing Line Lender and the L/C Issuer agree in writing in their
reasonable discretion that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto,
whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding
Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans
and funded and unfunded participations in Letters of Credit and Swing Loans to be held on a <I>pro rata</I> basis by the Lenders
in accordance with their respective Percentages (without giving effect to Section&nbsp;8.6(a)(iv)), whereupon such Lender will
cease to be a Defaulting Lender; <I>provided</I> that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and <I>provided</I>, <I>further</I>, that
except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender&rsquo;s having been a Defaulting Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>New
Swing Line Loans/Letters of Credit</I>. So long as any Lender is a Defaulting Lender, (i)&nbsp;the Swing Line Lender shall not
be required to fund any Swing Loans unless it is satisfied that it will have no Fronting Exposure after effect to such Swing Loan
and (ii) the L/C Issuer shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that
it will have no Fronting Exposure after giving effect thereto.</P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appointment
and Authorization of Administrative Agent</I>. Each Lender and the L/C Issuer<B> </B>hereby appoints Fifth Third Bank, an Ohio
banking corporation, to act on its behalf as the Administrative Agent under the Loan Documents and authorizes the Administrative
Agent to take such action as Administrative Agent on its behalf and to exercise such powers under the Loan Documents as are delegated
to the Administrative Agent by the terms thereof, together with such actions and powers as are reasonably incidental thereto. The
provisions of this Section&nbsp;9 are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither
the Borrower nor any other Loan Party shall have rights as a third-party beneficiary of any of such provisions. It is understood
and agreed that the use of the term &ldquo;agent&rdquo; in this Agreement or in any other Loan Document (or any other similar term)
with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create
or reflect only an administrative relationship between contracting parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative
Agent and Its Affiliates</I>. The Administrative Agent shall have the same rights and powers in its capacity as a Lender as any
other Lender and may exercise or refrain from exercising such rights and powers as though it were not the Administrative Agent,
and the Administrative Agent and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial
advisor or in any other advisory capacity for, and generally engage in any kind of banking, trust, financial advisory, or other
business with any Loan Party or any Affiliate of any Loan Party as if it were not the Administrative Agent under the Loan Documents
and without any duty to account therefor to the Lenders. The terms <I>&ldquo;Lender&rdquo;</I> and <I>&ldquo;Lenders&rdquo;</I>,
unless otherwise expressly indicated or unless the context otherwise clearly requires, includes the Administrative Agent in its
individual capacity as a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exculpatory
Provisions</I>. (a) The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and
in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the
foregoing, the Administrative Agent and its Related Parties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is
continuing;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein
or in the other Loan Documents); <I>provided</I> that the Administrative Agent shall not be required to take any action that, in
its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document
or any Legal Requirement, including for the avoidance of doubt any action that may be in violation of the automatic stay under
any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation
of any Debtor Relief Law, and the Administrative Agent shall in all cases be fully justified in failing or refusing to act hereunder
or under any other Loan Document unless it first receives any further assurances of its indemnification from the Lenders that it
may require, including prepayment of any related expenses and any other protection it requires against any and all costs, expense,
and liability which may be incurred by it by reason of taking or continuing to take any such action; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to any Loan Party or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
instructions of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative
Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section&nbsp;10.10) shall be binding
upon all the Lenders. Neither the Administrative Agent nor any of its Related Parties shall be liable for any action taken or not
taken by the Administrative Agent (i)&nbsp;with the consent or at the request of the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary,
under the circumstances as provided in Section&nbsp;10.10), or (ii)&nbsp;in the absence of its own gross negligence or willful
misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. In all cases in which the Loan
Documents do not require the Administrative Agent to take specific action, the Administrative Agent shall be fully justified in
using its discretion in failing to take or in taking any action thereunder. The Administrative Agent shall be entitled to assume
that no Default or Event of Default exists, and shall be deemed not to have knowledge of any Default or Event of Default, unless
and until notice describing such Default is given to the Administrative Agent in writing by the Borrower or a Lender. If the Administrative
Agent receives from any Loan Party a written notice of an Event of Default pursuant to Section&nbsp;6.1, the Administrative Agent
shall promptly give each of the Lenders written notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Administrative Agent nor any of its Related Parties shall be responsible for or have any duty to ascertain or inquire into
(i)&nbsp;any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, or
any Credit Event, (ii)&nbsp;the contents of any certificate, report or other document delivered under this Agreement or any other
Loan Documents or in connection herewith or therewith, (iii)&nbsp;the performance or observance of any of the covenants, agreements
or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv)&nbsp;the validity,
enforceability, effectiveness, genuineness, value, worth, or collectability of this Agreement, any other Loan Document or any other
agreement, instrument, document or writing furnished in connection with any Loan Document or any Collateral, or the creation, perfection,
or priority of any Lien purported to be created by this Agreement or any Collateral Documents, or (v)&nbsp;the value or sufficiency
of any Collateral, or (vi) the satisfaction of any condition set forth in Section&nbsp;3 or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent; and the Administrative Agent makes no representation
of any kind or character with respect to any such matter mentioned in this sentence.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance
by Administrative Agent</I>. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone
and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of
Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume
that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice
to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The
Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts. The Administrative Agent may treat the payee of any Note or any Loan as the holder thereof until written
notice of transfer shall have been filed with the Administrative Agent signed by such payee in form satisfactory to the Administrative
Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delegation
of Duties</I>. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under
any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Related Parties. The exculpatory provisions of this Section 9 shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication
of the Facilities as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence
or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable
judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Reliance
on Administrative Agent and Other Lenders. </I>Each Lender and the L/C Issuer acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer
also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make
its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resignation
of Administrative Agent and Successor Administrative Agent</I>. (a) The Administrative Agent may at any time give notice of its
resignation to the Lenders, the L/C Issuer, and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, in consultation with the Borrower, to appoint a successor, which may be any Lender hereunder or any commercial
bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus
of at least $200,000,000 and, so long as no Event of Default shall have occurred and be continuing, such appointment shall be within
the Borrower&rsquo;s consent (which shall not be unreasonably withheld). If no such successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within thirty (30)&nbsp;days after the retiring Administrative Agent
gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the <I>&ldquo;Resignation Effective
Date&rdquo;</I>), then the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders and the
L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has
been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required
Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person
as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed
by the Required Lenders) (the <I>&ldquo;Removal Effective Date&rdquo;</I>), then such removal shall nonetheless become effective
in accordance with such notice on the Removal Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case
of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents,
the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative
Agent is appointed) and (2) except for any indemnity payments owed to the retiring or removed Administrative Agent, all payments,
communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to
each Lender and L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent
as provided for above. Upon the acceptance of a successor&rsquo;s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring or removed Administrative
Agent (other than any rights to indemnity payments owed to the retiring or removed Administrative Agent), and the retiring or removed
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents. The
fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise
agreed between the Borrower and such successor. After the retiring or removed Administrative Agent&rsquo;s resignation or removal
hereunder and under the other Loan Documents, the provisions of this Section 9 and Section&nbsp;10.12 shall continue in effect
for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect
of any actions taken or omitted to be taken by any of them while the retiring or removed Administrative Agent was acting as Administrative
Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L/C
Issuer and Swing Line Lender.</I> The L/C&nbsp;Issuer shall act on behalf of the Lenders with respect to any Letters of Credit
issued by it and the documents associated therewith, and the Swing Line Lender shall act on behalf of the Lenders with respect
to the Swing Loans made hereunder. The L/C Issuer and the Swing Line Lender shall each have all of the benefits and immunities
(a)&nbsp;provided to the Administrative Agent in this Section&nbsp;9 with respect to any acts taken or omissions suffered by the
L/C&nbsp;Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and the Applications pertaining
to such Letters of Credit or by the Swing Line Lender in connection with Swing Loans made or to be made hereunder as fully as if
the term &ldquo;Administrative Agent&rdquo;, as used in this Section&nbsp;9, included the L/C&nbsp;Issuer and the Swing Line Lender,
with respect to such acts or omissions and (b)&nbsp;as additionally provided in this Agreement with respect to such L/C&nbsp;Issuer
or Swing Line Lender, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedging
Liability and Bank Product Liability Arrangements</I>. By virtue of a Lender&rsquo;s execution of this Agreement or an assignment
agreement pursuant to Section&nbsp;10.9, as the case may be, any Affiliate of such Lender with whom any Loan Party has entered
into an agreement creating Hedging Liability or Bank Product Liability shall be deemed a Lender party hereto for purposes of any
reference in a Loan Document to the parties for whom the Administrative Agent is acting, it being understood and agreed that the
rights and benefits of such Affiliate under the Loan Documents consist exclusively of such Affiliate&rsquo;s right to share in
payments and collections out of the Collateral and the Guaranty Agreements as more fully set forth in Section&nbsp;2.9 and Section&nbsp;4.
In connection with any such distribution of payments and collections, the Administrative Agent shall be entitled to assume no amounts
are due to any Lender or its Affiliate with respect to Hedging Liability or Bank Product Liability unless such Lender has notified
the Administrative Agent in writing of the amount of any such liability owed to it or its Affiliate prior to such distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Other Duties; Designation of Additional Agents</I>. Anything herein to the contrary notwithstanding, none of the Bookrunners or
Arrangers listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender, or the L/C Issuer hereunder.
The Administrative Agent shall have the continuing right, for purposes hereof, at any time and from time to time to designate one
or more of the Lenders (and/or its or their Affiliates) as &ldquo;syndication agents,&rdquo; &ldquo;documentation agents,&rdquo;
&ldquo;arrangers&rdquo; or other designations for purposes hereto, but such designation shall have no substantive effect, and such
Lenders and their Affiliates shall have no additional powers, duties or responsibilities as a result thereof; <I>provided</I> that
if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required
Lenders shall have the rights otherwise given to the Administrative Agent pursuant to this Section&nbsp;9 and (ii) subject to Section
10.7, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized
by the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorization
to Enter into, and Enforcement of, the Collateral Documents and Guaranty</I>. The Lenders, such Affiliates of the Lenders who may
enter into an agreement creating Hedging Liabilities or Bank Product Liabilities pursuant to Section&nbsp;9.9, and the L/C Issuer
irrevocably authorize the Administrative Agent to execute and deliver the Collateral Documents, the Surety Intercreditor Agreement,
each Subordination Agreement and each Guaranty Agreement on their behalf and on behalf of each of their Affiliates and to take
such action and exercise such powers under the Collateral Documents, the Surety Intercreditor Agreement, any Subordination Agreement
or any Guaranty Agreement as the Administrative Agent considers appropriate, <I>provided</I> the Administrative Agent shall not
amend the Collateral Documents, the Surety Intercreditor Agreement, any Subordination Agreement or any Guaranty Agreement unless
such amendment is agreed to in writing by the Required Lenders. Each Lender and L/C Issuer acknowledges and agrees that it will
be bound by the terms and conditions of the Collateral Documents, the Surety Intercreditor Agreement, each Subordination Agreement
and each Guaranty Agreement upon the execution and delivery thereof by the Administrative Agent. Except as otherwise specifically
provided for herein, no Lender (or its Affiliates) other than the Administrative Agent shall have the right to institute any suit,
action or proceeding in equity or at law for the foreclosure or other realization upon any Collateral or any or for the execution
of any trust or power in respect of the Collateral or any Guaranty Agreement or for the appointment of a receiver or for the enforcement
of any other remedy under the Collateral Documents, the Surety Intercreditor Agreement, any Subordination Agreement or any Guaranty
Agreement; it being understood and intended that no one or more of the Lenders (or their Affiliates) shall have any right in any
manner whatsoever to affect, disturb or prejudice the Lien of the Administrative Agent (or any security trustee therefor) under
the Collateral Documents by its or their action or to enforce any right thereunder, and that all proceedings at law or in equity
shall be instituted, had, and maintained by the Administrative Agent (or its security trustee) in the manner provided for in the
relevant Collateral Documents for the benefit of the Lenders and their Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative
Agent May File Proofs of Claim</I>. In case of the pendency of any proceeding under any Debtor Relief Law, the Administrative Agent
(irrespective of whether the principal of any Loan or L/C Obligations shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled
and empowered (but not obligated), by intervention in such proceeding or otherwise:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations,
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order
to have the claims of the Lenders, the L/C Issuer, and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the L/C Issuer, and the Administrative Agent and their respective agents and
counsel and all other amounts due the Lenders, the L/C Issuer, and the Administrative Agent under Sections 2.13 and 10.12(a)) allowed
in such judicial proceeding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for
the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any
other amounts due the Administrative Agent under Sections 2.13 and 10.12(a). Nothing contained herein shall be deemed to authorize
the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer or to authorize
the Administrative Agent to vote in respect of the claim of any Lender or the L/C Issuer in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateral
and Guaranty Matters</I>. (a) The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and
in its discretion,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (A)&nbsp;upon the Facility
Termination Date, (B)&nbsp;that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection
with any sale or disposition permitted under the Loan Documents, or (C)&nbsp;subject to Section 10.10, if approved, authorized
or ratified in writing by the Required Lenders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
subordinate any Lien on any Property granted to or held by the Administrative Agent under any Loan Document to the holder of any
Lien on such property that is permitted by Section<B> </B>6.12(e);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
release any Guarantor from its obligations under its Guaranty Agreement if such Person ceases to be a Loan Party as a result of
a transaction permitted under the Loan Documents; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
reduce or limit the amount of the Indebtedness secured by any particular item of Collateral to an amount not less than the estimated
value thereof to the extent necessary to reduce mortgage registry, filing and similar tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon request by the Administrative Agent
at any time, the Required Lenders will confirm in writing the Administrative Agent&rsquo;s authority to release or subordinate
its interest in particular types or items of Property, or to release any Guarantor from its obligations under its Guaranty Agreement
pursuant to this Section 9.13.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding
the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent&rsquo;s
Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible
or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit
Bidding</I>. (a) The Administrative Agent, on behalf of itself and the Lenders, shall have the right to credit bid and purchase
for the benefit of the Administrative Agent and the Lenders all or any portion of Collateral at any sale thereof conducted by the
Administrative Agent under the provisions of the UCC, including pursuant to Sections 9-610 or 9-620 of the UCC, at any sale thereof
conducted under the provisions of the Bankruptcy Code, including Section&nbsp;363 thereof, or a sale under a plan of reorganization,
or at any other sale or foreclosure conducted by the Administrative Agent (whether by judicial action or otherwise) in accordance
with applicable Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender hereby agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Administrative
Agent and the Required Lenders, it will not take any enforcement action, accelerate obligations under any Loan Documents, or exercise
any right that it might otherwise have under applicable Legal Requirements to credit bid at foreclosure sales, UCC sales or other
similar dispositions of Collateral.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes</I>.
(a)&nbsp;<I>L/C Issuer</I>. For purposes of this Section 10.1, the term <I>&ldquo;Lender&rdquo;</I> includes the L/C Issuer and
the term &ldquo;applicable law&rdquo; includes FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payments
Free of Taxes</I>. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made
without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the
good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment
by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall
timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if
such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after
such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under
this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding
been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payment
of Other Taxes by the Loan Parties</I>. Each Loan Party<B> </B>shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Loan Parties</I>. The Loan Parties shall jointly and severally indemnify each Recipient, within ten (10) days after demand
therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts
payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf
or on behalf of a Lender, shall be conclusive absent manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Lenders</I>. Each Lender shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor,
for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Loan Parties have not already indemnified
the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any
Taxes attributable to such Lender&rsquo;s failure to comply with the provisions of Section 10.9(d) relating to the maintenance
of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the
Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto,
whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as
to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any
amount due to the Administrative Agent under this Section&nbsp;10.1(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Evidence
of Payments</I>. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this
Section 10.1, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by
such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Status
of Lenders</I>. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by
the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower
or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In
addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation
prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.
Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 10.1(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the
Lender&rsquo;s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed
cost or expense or would materially prejudice the legal or commercial position of such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of the foregoing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
whichever of the following is applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &ldquo;interest&rdquo; article of such tax treaty
and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &ldquo;business profits&rdquo; or &ldquo;other
income&rdquo; article of such tax treaty;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of IRS Form W-8ECI;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x)
a certificate in form reasonably acceptable to the Administrative Agent representing that such Foreign Lender is not a &ldquo;bank&rdquo;
within the meaning of Section 881(c)(3)(A) of the Code, a &ldquo;10 percent shareholder&rdquo; of the Borrower within the meaning
of Section 881(c)(3)(B) of the Code, or a &ldquo;controlled foreign corporation&rdquo; described in Section 881(c)(3)(C) of the
Code (a <I>&ldquo;U.S. Tax Compliance Certificate&rdquo;</I>) and (y) executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate in form reasonably acceptable to the Administrative
Agent, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; <I>provided</I> that if the
Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest
exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate in form reasonably acceptable to the Administrative
Agent on behalf of each such direct and indirect partner;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S.
federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law
to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender&rsquo;s obligations under FATCA
or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), &ldquo;FATCA&rdquo;
shall include any amendments made to FATCA after the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update
such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do
so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment
of Certain Refunds</I>. If any party determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified pursuant to this Section 10.1 (including by the payment of additional amounts
pursuant to this Section 10.1), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of
indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out of pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this Section&nbsp;10.1(h) (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this Section&nbsp;10.1(h), in no event will the indemnified party be required
to pay any amount to an indemnifying party pursuant to this Section&nbsp;10.1(h) the payment of which would place the indemnified
party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification
had not been deducted, withheld, or otherwise imposed and the indemnification payments or additional amounts giving rise to such
refund had never been paid. This Section&nbsp;10.1(h) shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other
Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Required
Elections</I>. In the event that the Borrower is classified as a partnership for federal income tax purposes, or any taxable years
for which Sections 6221 through 6241 of the Code apply to the Borrower, the partnership representative shall, to the extent eligible,
make the election under Section 6221(b) of the Code with respect to the Borrower and take any other action such as disclosures
and notifications necessary to effectuate such election. If the election described in the preceding sentence is not available,
to the extent applicable, the partnership representative shall make the election under Section 6226(a) of the Code with respect
to the Borrower and take any other action such as filings, disclosures and notifications necessary to effectuate such election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Survival</I>.
Each party&rsquo;s obligations under this Section 10.1 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitigation
Obligations; Replacement of Lenders</I> (a) <I>Designation of a Different Lending Office</I>. If any Lender requests compensation
under Section&nbsp;8.4, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section&nbsp;10.1, then such Lender shall (at the request of the Borrower)
use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights
and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation
or assignment (i)&nbsp;would eliminate or reduce amounts payable pursuant to Section&nbsp;8.4 or&nbsp;Section&nbsp;10.1, as the
case may be, in the future, and (ii)&nbsp;would not subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Replacement
of Lenders</I>. If any Lender requests compensation under Section&nbsp;8.4, or if the Borrower is required to pay any Indemnified
Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section&nbsp;10.1
and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 10.2(a),
or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in, and consents required by, Section&nbsp;10.9(b)), all of its interests, rights
(other than its existing rights to payments pursuant to Section 8.4 or Section 10.1) and obligations under this Agreement and the
related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall have paid to the Administrative Agent the assignment fee (if any) specified in Section 10.9(b)(iv);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in Reimbursement
Obligations, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents
(including any amounts under Section 8.1) from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of any such assignment resulting from a claim for compensation under Section&nbsp;8.4 or payments required to be made
pursuant to Section&nbsp;10.1 such assignment will result in a reduction in such compensation or payments thereafter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
assignment does not conflict with applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignee shall have
consented to the applicable amendment, waiver or consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A Lender shall not be required
to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Waiver, Cumulative Remedies.</I> No delay or failure on the part of the Administrative Agent, the L/C Issuer, or any Lender or
on the part of the holder or holders of any of the Obligations in the exercise of any power or right under any Loan Document shall
operate as a waiver thereof or as an acquiescence in any default, nor shall any single or partial exercise of any power or right
preclude any other or further exercise thereof or the exercise of any other power or right. The rights and remedies hereunder of
the Administrative Agent, the L/C Issuer, the Lenders and of the holder or holders of any of the Obligations are cumulative to,
and not exclusive of, any rights or remedies which any of them would otherwise have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Business
Days.</I> If the payment of any obligation or the performance of any covenant, duty or obligation hereunder becomes due and payable
on a day which is not a Business Day, the due date of such payment or performance shall be extended to the next succeeding Business
Day on which date such payment or performance shall be due and payable. In the case of any payment of principal falling due on
a day which is not a Business Day, interest on such principal amount shall continue to accrue during such extension at the rate
per annum then in effect, which accrued amount shall be due and payable on the next scheduled date for the payment of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Survival
of Representations.</I> All representations and warranties made herein or in any other Loan Document or in certificates given pursuant
hereto or thereto shall survive the execution and delivery of this Agreement and the other Loan Documents, and shall continue in
full force and effect with respect to the date as of which they were made as long as any Lender or the L/C Issuer has any Commitment
hereunder or any Obligations (other than contingent obligations not due and owing or Letters of Credit Cash Collateralized) remain
unpaid hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Survival
of Indemnities</I>. All indemnities and other provisions relative to reimbursement to the Lenders and the L/C Issuer of amounts
sufficient to protect the yield of the Lenders and the L/C Issuer with respect to the Loans and Letters of Credit, including, but
not limited to, Sections 8.1, 8.4, 10.4 and 10.13, shall survive the termination of this Agreement and the other Loan Documents
and the payment of the Obligations (other than contingent obligations not due and owing or Letters of Credit Cash Collateralized).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sharing
of Payments by Lenders.</I> If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of its Loans or other Obligations hereunder resulting in such Lender receiving
payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such Obligations greater than
its <I>pro rata </I>share thereof as provided herein, then the Lender receiving such greater proportion shall (a)&nbsp;notify the
Administrative Agent of such fact, and (b)&nbsp;purchase (for cash at face value) participations in the Loans and such other obligations
of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared
by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and
other amounts owing them; <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations
shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
provisions of this Section 10.7 shall not be construed to apply to (x)&nbsp;any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting
Lender), or (y)&nbsp;any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any
of its Loans or participations in Reimbursement Obligations to any assignee or participant, other than to any Loan Party (as to
which the provisions of this Section 10.7 shall apply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each Loan Party consents to the foregoing
and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to
the foregoing arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of each Loan Party in the amount of such participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notices;
Effectiveness; Electronic Communication.</I> (a)&nbsp;<I>Notices Generally.</I> Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in Section 10.8(b) below), all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered
mail or sent by facsimile or electronic mail as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">if to any Loan Party:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Limbach Facility Services LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">13261 Mid Atlantic Blvd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Laurel, MD 20708</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John T. Jordan, Jr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(301) 623-4799</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(412) 359-2287</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;john.jordan@limbachinc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">with a copy (which shall not
constitute notice to):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Honigman Miller Schwartz and Cohn LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">2290 First National Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">660 Woodward Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Detroit, MI 48226</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joshua Opperer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313) 465-7456</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313) 465-7457</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">if to the Administrative Agent, the Swing Line Lender
or the L/C Issuer:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fifth Third Bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fifth Third Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">38 Fountain Square Plaza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Cincinnati, Ohio 45263</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Syndications/Judy Huls</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513) 534-4224</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513) 534-0875</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;judy.huls@53.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">if to a Lender (other than the Swing Line Lender), to
it at its address (or facsimile number) set forth in its Administrative Questionnaire.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile
shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic
communications, to the extent provided in Section&nbsp;10.8(b) below, shall be effective as provided in said Section&nbsp;10.8(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Electronic Communications</I>.
Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication
(including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, <I>provided</I>
that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Section 2.3(f), Section 2.5 or Section
2.11 if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices
under such respective Section by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree
to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it,
<I>provided</I> that approval of such procedures may be limited to particular notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless the Administrative
Agent otherwise prescribes, (i)&nbsp;notices and other communications sent to an e-mail address shall be deemed received upon the
sender&rsquo;s receipt of an acknowledgement from the intended recipient (such as by the &ldquo;return receipt requested&rdquo;
function, as available, return e-mail or other written acknowledgement), and (ii)&nbsp;notices or communications posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described
in the foregoing clause&nbsp;(i), of notification that such notice or communication is available and identifying the website address
therefore, <I>provided</I> that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent
during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the
opening of business on the next business day for the recipient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Change
of Address, Etc.</I> Any party hereto may change its address or facsimile number for notices and other communications hereunder
by written notice to the other parties hereto. In addition, each Lender agrees to notify the Administrative Agent from time to
time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile
number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for
such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Platform</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Loan Party agrees that the Administrative Agent may, but is not obligated to, make the Communications (as defined below) available
to the L/C Issuer and the Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar
electronic transmission system (the <I>&ldquo;Platform&rdquo;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Platform is provided &ldquo;as is&rdquo; and &ldquo;as available.&rdquo; The Administrative Agent and its Related Parties do not
warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty
of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement
of third-party rights or freedom from viruses or other code defects, is made by the Administrative Agent or any of its Related
Parties in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related
Parties have any liability to the Loan Parties or any of their Subsidiaries, any Lender or any other Person or entity for damages
of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract
or otherwise) arising out of any Loan Party&rsquo;s or the Administrative Agent&rsquo;s transmission of Communications through
the Platform. <I>&ldquo;Communications&rdquo;</I> means, collectively, any notice, demand, communication, information, document
or other material that any Loan Party provides to the Administrative Agent pursuant to any Loan Document or the transactions contemplated
therein which is distributed to the Administrative Agent, and Lender or the L/C Issuer by means of electronic communications pursuant
to this Section, including through the Platform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successors
and Assigns; Assignments and Participations</I>.&nbsp;&nbsp;(a)&nbsp;&nbsp;<I>Successors and Assigns Generally.</I> The provisions
of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns
permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations under any Loan
Document without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer
any of its rights or obligations hereunder except (i)&nbsp;to an Eligible Assignee in accordance with the provisions of Section
10.9(b) below, (ii)&nbsp;by way of participation in accordance with the provisions of Section 10.9(d) below or (iii)&nbsp;by way
of pledge or assignment of a security interest subject to the restrictions of Section 10.9(f) below (and any other attempted assignment
or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to
confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to
the extent provided in Section 10.9(d) below and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Assignments
by Lenders.</I> Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations
under this Agreement (including all or a portion of its Commitment(s) and the Loans at the time owing to it); <I>provided</I> that
(in each instance with respect to any Credit) any such assignment shall be subject to the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Minimum
Amounts</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the case of an assignment of the entire remaining amount of the assigning Lender&rsquo;s Commitment(s) and/or the Loans at the
time owing to it (in each instance with respect to any Credit) or contemporaneous assignments to related Approved Funds that equal
at least the amount specified in Section&nbsp;10.9(b)(i)(B) below in the aggregate or in the case of an assignment to a Lender,
an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In any case of an assignment not described in Section&nbsp;10.9(b)(i)(A) above, the aggregate amount of the Commitment(s) (which
for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding
balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption
with respect to such assignment is delivered to the Administrative Agent or, if <I>&ldquo;Trade Date&rdquo;</I> is specified in
the Assignment and Assumption, as of the Trade Date) shall not be less than $5,000,000, in the case of any assignment in respect
of the Revolving Credit, or $1,000,000, in the case of any assignment in respect of the Term Credit, unless each of the Administrative
Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not
to be unreasonably withheld or delayed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Proportionate
Amounts</I>. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender&rsquo;s
rights and obligations under this Agreement with respect to the Loan or the Commitment assigned, except that this clause&nbsp;(ii)
shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate Credits on a non-<I>pro
rata</I> basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Required
Consents</I>. No consent shall be required for any assignment except to the extent required by Section 10.9(b)(i)(B) above and,
in addition:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default<I>
</I>has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an Affiliate of a Lender
or an Approved Fund; <I>provided</I> that the Borrower shall be deemed to have consented to any such assignment unless it shall
object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Administrative Agent (such consent not to be unreasonably withheld, delayed, or conditioned) shall be required for
assignments in respect of (i) the Revolving Credit or any unfunded Commitments with respect to the Term Loans if such assignment
is to a Person that is not a Lender with a Commitment in respect of such Credit, an Affiliate of such Lender or an Approved Fund
with respect to such Lender, or (ii) any Term Loans to a Person who is not a Lender, an Affiliate of a Lender or an Approved Fund;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the L/C Issuer and the Swing Line Lender shall be required for any assignment in respect of the Revolving Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Assignment
and Assumption</I>. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500; <I>provided</I> that the Administrative Agent may, in its sole discretion,
elect to waive such processing and recordation fee in the case of any assignment. The Eligible Assignee, if it shall not be a Lender,
an Affiliate of a Lender, or an Approved Fund with respect to a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Assignment to Certain Persons</I>. No Lender shall assign any of its rights or obligations hereunder to (A) the Borrower or any
of the Borrower&rsquo;s Affiliates or Subsidiaries, (B) any Defaulting Lender or any of its Subsidiaries, or (C) any Person who,
upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Assignment to Natural Persons</I>. No such assignment shall be made to a natural person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certain
Additional Payments</I>. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution
thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable <I>pro rata</I>
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x)&nbsp;pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to
the Administrative Agent, the L/C Issuer, or any Lender hereunder (and interest accrued thereon), and (y)&nbsp;acquire (and fund
as appropriate) its full <I>pro rata</I> share of all Loans and participations in Letters of Credit and Swing Loans in accordance
with its Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable law without compliance with the provisions of this clause (vii), then
the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance
occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to acceptance and recording thereof
by the Administrative Agent pursuant to Section&nbsp;10.9(c), from and after the effective date specified in each Assignment and
Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by
such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender&rsquo;s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections&nbsp;8.1,
8.4, 10.1 and 10.12 with respect to facts and circumstances occurring prior to the effective date of such assignment; <I>provided</I>
that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute
a waiver or release of any claim of any party hereunder arising from that Lender&rsquo;s having been a Defaulting Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section
10.9(d) below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Register.</I>
The Administrative Agent, acting solely for this purpose as an agent of the Borrower (such agency being solely for tax purposes),
shall maintain a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitment(s) of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the <I>&ldquo;Register&rdquo;</I>). The entries in the Register shall be conclusive absent
manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available
for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Participations.</I>
Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural person or the Borrower or any of the Borrower&rsquo;s Affiliates or Subsidiaries) (each, a
<I>&ldquo;Participant&rdquo;</I>) in all or a portion of such Lender&rsquo;s rights and/or obligations under this Agreement (including
all or a portion of its Commitment(s) and/or the Loans owing to it); <I>provided</I> that (i)&nbsp;such Lender&rsquo;s obligations
under this Agreement shall remain unchanged, (ii)&nbsp;such Lender shall remain solely responsible to the other parties hereto
for the performance of such obligations and (iii)&nbsp;the Borrower, the Administrative Agent and the Lenders and L/C&nbsp;Issuer
shall continue to deal solely and directly with such Lender in connection with such Lender&rsquo;s rights and obligations under
this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 10.12(c) with respect
to any payments made by such Lender to its Participant(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <I>provided</I> that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in Section&nbsp;10.10(i) and (ii) that affects such Participant. The Borrower agrees that each Participant
shall be entitled to the benefits of Sections&nbsp;8.1, 8.4, and 10.1 (subject to the requirements and limitations therein, including
the requirements under Section 10.1(g) (it being understood that the documentation required under Section 10.1(g) shall be delivered
to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
Section 10.9(b) above; <I>provided</I> that such Participant (A) agrees to be subject to the provisions of Section&nbsp;10.2 as
if it were an assignee under Section&nbsp;10.2(b) above; and (B) shall not be entitled to receive any greater payment under Section&nbsp;8.4
or Section&nbsp;10.1, with respect to any participation, than its participating Lender would have been entitled to receive, except
to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired
the applicable participation. Each Lender that sells a participation agrees, at the Borrower's request and expense, to use reasonable
efforts to cooperate with the Borrower to effectuate the provisions of Section&nbsp;10.2(b) with respect to any Participant. To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section&nbsp;10.13<I> </I>as though it
were a Lender; <I>provided</I> that such Participant agrees to be subject to Section&nbsp;10.7 as though it were a Lender. Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which
it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant&rsquo;s
interest in the Loans or other obligations under the Loan Documents (the <I>&ldquo;Participant Register&rdquo;</I>); <I>provided</I>
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Participant or any information relating to a Participant&rsquo;s interest in any Commitments, Loans, Letters of Credit or its
other Obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that
such Commitment, Loan, Letter of Credit or other Obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall
treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as
Administrative Agent) shall have no responsibility for maintaining a Participant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certain
Pledges.</I> Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <I>provided</I>
that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee
or assignee for such Lender as a party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Electronic
Execution of Assignments.</I> The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature,&rdquo; and words of like
import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the
Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or
any other similar state laws based on the Uniform Electronic Transactions Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary herein, if at any time the Administrative Agent assigns all of its Revolving Credit Commitments and Revolving
Loans pursuant to subsection (b) above, the Administrative Agent may terminate the Swing Line. In the event of such termination
of the Swing Line, the Borrower shall be entitled to appoint another Lender to act as the successor Lender of Swing Loans hereunder
(with such Lender&rsquo;s consent); <I>provided, however,</I> that the failure of the Borrower to appoint a successor shall not
affect the resignation of the Administrative Agent as the Swing Line Lender. If the Administrative Agent terminates the Swing Line,
it shall retain all of the rights of the maker of Swing Loans provided hereunder with respect to Swing Loans made by it and outstanding
as of the effective date of such termination, including the right to require Lenders to make Revolving Loans or fund participations
in outstanding Swing Loans pursuant to Section&nbsp;2.11. Notwithstanding anything to the contrary herein, if at any time the&nbsp;Administrative
Agent assigns&nbsp;all of its Revolving Credit&nbsp;Commitments and Revolving Loans pursuant to subsection (b) above, the Administrative
Agent may terminate its&nbsp;commitment pursuant to Section 2.3(a) to issue Letters of Credit. In the event of such termination
of the Administrative Agent&rsquo;s commitment to issue Letters of Credit pursuant to Section 2.3(a), the Borrower shall be entitled
to appoint another Lender to act as the successor L/C Issuer hereunder (with such Lender&rsquo;s consent); <I>provided, however,</I>
that the failure of the Borrower to appoint a successor shall not affect the resignation of the Administrative Agent as the L/C
Issuer. If the Administrative Agent terminates its commitment to issue Letters of Credit pursuant to Section 2.3(a), it shall retain
all of the rights of the L/C Issuer hereunder with respect to Letters of Credit made by it and outstanding as of the effective
date of such termination, including the right to require Participating Lenders to fund their Participating Interests in such Letters
of Credit pursuant to Section&nbsp;2.3(d).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments</I>.<I>
</I> Any provision of this Agreement or the other Loan Documents may be amended or waived if, but only if, such amendment or waiver
is in writing and is signed by (a) the Borrower, (b) the Required Lenders (or the Administrative Agent with the consent of the
Required Lenders), (c) if the rights or duties of the Administrative Agent are affected thereby, the Administrative Agent, (d)
if the rights or duties of the L/C Issuer are affected thereby, the L/C Issuer, and (e) if the rights and duties of the Swing Line
Lender are affected thereby, the Swing Line Lender; <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
amendment or waiver pursuant to this Section&nbsp;10.10 shall (A)&nbsp;increase or extend any Commitment of any Lender without
the consent of such Lender, (B)&nbsp;reduce or waive the amount of or postpone the date for any scheduled payment (but not including
any mandatory prepayment) of any principal of or interest on any Loan or of any Reimbursement Obligation (except in connection
with the waiver of acceptability of any post-default increase in interest rates (which waiver shall be effective with the consent
of the Required Lenders)) or of any fee payable hereunder without the consent of the Lender to which such payment is owing or which
has committed to make such Loan or Letter of Credit (or participate therein) hereunder or (C)&nbsp;change the application of payments
set forth in Section&nbsp;2.9 without the consent of any Lender adversely affected thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
amendment or waiver pursuant to this Section&nbsp;10.10 shall, unless signed by each Lender, increase the aggregate Commitments
of the Lenders, change the definitions of Revolving Credit Termination Date or Required Lenders, change the provisions of this
Section 10.10, release any material Guarantor or all or substantially all of the Collateral (except as otherwise provided for in
the Loan Documents), affect the number of Lenders required to take any action hereunder or under any other Loan Document, or change
or waive any provision of any Loan Document that provides for the <I>pro rata</I> nature of disbursements or payments to Lenders;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
addition to the other requirements of this Section 10.10, no amendment to Section 11 shall be made without the consent of the Guarantor(s)
affected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything to the contrary
herein, (i) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except
that the Commitments of such Lender may not be increased or extended without the consent of such Lender, (ii) any provision of
this Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative
Agent if (A) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein
shall terminate upon the effectiveness of such amendment and (B) at the time such amendment becomes effective, each Lender not
consenting thereto receives payment (including pursuant to an assignment to a replacement Lender in accordance with the terms herein)
in full of the principal of and interest accrued on each Loan made by it and all other Obligations owing to it or accrued for its
account under this Agreement, (iii)&nbsp;the Collateral Documents and related documents executed by the Loan Parties in connection
with this Agreement may be in a form reasonably determined by the Administrative Agent and may be amended, modified, supplemented
and waived with the consent of the Administrative Agent and the Borrower without the need to obtain the consent of any other Person
if such amendment, modification, supplement or waiver is delivered in order (A) to comply with local Legal Requirements (including
any foreign law or regulatory requirement) or advice of local counsel, or (B) to cause such Collateral Document or other document
to be consistent with this Agreement and the other Loan Documents and (iv) if following the Closing Date, the Administrative Agent
and the Borrower shall have jointly identified an ambiguity, inconsistency, obvious error, or mistake or any error, mistake or
omission of a technical or immaterial nature, in each case, in any provision of the Loan Documents (other than the Collateral Documents),
then the Administrative Agent and the Borrower shall be permitted to amend such provision and such amendment shall become effective
without any further action or consent of any other party to any Loan Documents if the same is not objected to in writing by the
Required Lenders within five (5) Business Days following receipt of notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Headings</I>.<I>
</I>Section headings used in this Agreement are for reference only and shall not affect the construction of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses;
Indemnity; Damage Waiver</I>. (a)&nbsp;<I>Costs and Expenses</I>. The Borrower shall pay (i)&nbsp;all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel
for the Administrative Agent), in connection with the syndication of the Credits, the preparation, negotiation, execution, delivery
and administration of this Agreement and the other Loan Documents, or any amendments, modifications or waivers of the provisions
hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)&nbsp;all reasonable
out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter
of Credit or any demand for payment thereunder, and (iii)&nbsp;all out-of-pocket expenses incurred by the Administrative Agent,
any Lender, or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender
or the L/C Issuer), in connection with any Default or Event of Default hereunder or with the enforcement or protection of its rights
(including all such expenses incurred in connection with any proceeding under the United States Bankruptcy Code involving any Loan
Party or any of its Subsidiaries as a debtor thereunder) (A)&nbsp;in connection with this Agreement and the other Loan Documents,
including its rights under this Section, or (B)&nbsp;in connection with the Loans made or Letters of Credit issued hereunder, including
all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters
of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Borrower</I>. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an <I>&ldquo;Indemnitee&rdquo;</I>)
against, and hold each Indemnitee harmless from, any and all Damages (including the fees, charges and disbursements of any counsel
for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any
Guarantor) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i)&nbsp;the
execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions
contemplated hereby or thereby, (ii)&nbsp;any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including
any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with
such demand do not strictly comply with the terms of such Letter of Credit), (iii)&nbsp;any actual or alleged violation of Environmental
Laws, the presence, Release or threatened Release of Hazardous Materials on or from any property owned or operated by the Borrower
or any of its Subsidiaries or at any off-site location for which the Borrower or any of its Subsidiaries may be liable, or any
Environmental Claim related in any way to the Borrower or any of its Subsidiaries, or (iv)&nbsp;any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Borrower or any Guarantor, and regardless of whether any Indemnitee is a party thereto,
<I>provided</I> that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x)&nbsp;are determined by a court of competent jurisdiction by final and nonappealable judgment
to have resulted from the gross negligence or willful misconduct of such Indemnitee, or (y)&nbsp;result from a claim brought by
the Borrower or any Guarantor against an Indemnitee for breach in bad faith of such Indemnitee&rsquo;s obligations hereunder or
under any other Loan Document, if the Borrower or such Guarantor has obtained a final and nonappealable judgment in its favor on
such claim as determined by a court of competent jurisdiction. This Section 10.12(b) shall not apply with respect to Taxes other
than any Taxes that represent losses or damages arising from any claim not related to any such Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reimbursement
by Lenders</I>. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under Sections&nbsp;10.12(a)
or&nbsp;(b) to be paid by it to the Administrative Agent (or any sub-agent thereof), Swing Line Lender, the L/C Issuer or any Related
Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C
Issuer, or such Related Party, as the case may be, such Lender&rsquo;s Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount (including any such unpaid amount in respect of a claim
asserted by such Lender), <I>provided</I> that with respect to such unpaid amounts owed to the L/C Issuer or Swing Line Lender
solely in its capacity as such, the Lenders shall be required to pay such unpaid amounts severally among them based on their Revolver
Percentages (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), <I>provided</I>,
<I>further</I>, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may
be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the Swing Line Lender in its capacity
as such, or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative
Agent (or any such sub-agent) or the L/C Issuer in connection with such capacity. The obligations of the Lenders under this Section
10.12(c) are several and not joint. The Administrative Agent shall be entitled to offset amounts received for the account of a
Lender under this Agreement against unpaid amounts due from such Lender to the Administrative Agent hereunder (whether as fundings
of participations, indemnities or otherwise), but shall not be entitled to offset against amounts owed to the Administrative Agent
by any Lender arising outside of this Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Waiver
of Consequential Damages, Etc.</I> To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter
of Credit, or the use of the proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payments</I>.
All amounts due under this Section shall be payable promptly after demand therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Survival</I>.
The obligations of the Borrower under this Section shall survive the termination of this Agreement and the payment of Obligations
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set-off</I>.
If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer, and each of their respective Affiliates
is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held, and other
obligations (in whatever currency) at any time owing, by such Lender, the L/C Issuer or any such Affiliate, to or for the credit
or the account of any Loan Party against any and all of the obligations of such Loan Party now or hereafter existing under this
Agreement or any other Loan Document to such Lender or the L/C Issuer or their respective Affiliates, irrespective of whether or
not such Lender, L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although
such obligations of such Loan Party may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender
or L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such Indebtedness; <I>provided</I>
that in the event that any Defaulting Lender shall exercise any such right of setoff, (a) all amounts so set off shall be paid
over immediately to the Administrative Agent for further application in accordance with the provisions of Section 8.6 and, pending
such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the
Administrative Agent, the L/C Issuer, and the Lenders, and (b) the Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may
have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff
and application; <I>provided</I> that the failure to give such notice shall not affect the validity of such setoff and application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governing
Law; Jurisdiction; Etc</I>. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>(a)&nbsp;<I>Governing
Law</I>. <FONT STYLE="font-variant: small-caps">This Agreement and the other Loan Documents and any claims, controversy, dispute,
or cause of action (whether in contract or tort or otherwise) based on, arising out of, or relating to this Agreement or any other
Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby
and thereby shall be governed by, and construed in accordance with, the law of the state of New York, without regard to conflicts
of law provisions (other than sections 5-1401 and 5-1402 of the New York General Obligations Law).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Jurisdiction</I>.
Each Loan Party irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind
or description, whether in law or equity, whether in contract or in tort or otherwise, against the Administrative Agent, any Lender,
the L/C Issuer, or any Related Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions
relating hereto or thereto, in each case in any forum other than the courts of the State of New York<B> </B>sitting in New York<B>
</B>County, and of the United States District Court of the Southern District of New York, and any appellate court from any thereof,
and each of the parties hereto irrevocably and unconditionally submits to the non-exclusive<B> </B>jurisdiction of such courts
and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined in such New York<B>
</B>State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees
that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by applicable Legal Requirements. Nothing in this Agreement or in any other
Loan Document shall affect any right that the Administrative Agent, any Lender or any L/C Issuer may otherwise have to bring any
action or proceeding relating to this Agreement or any other Loan Document against any Loan Party or its properties in the courts
of any jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Waiver
of Venue</I>. Each Loan Party irrevocably and unconditionally waives, to the fullest extent permitted by applicable Legal Requirements,
any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to
this Agreement or any other Loan Document in any court referred to in Section&nbsp;10.14(b) above. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by applicable Legal Requirements, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Service
of Process</I>. Each party hereto irrevocably consents to service of process in any action or proceeding arising out of or relating
to any Loan Document, the manner provided for notices (other than telecopy or email) in Section&nbsp;10.8. Nothing in this Agreement
or any other Loan Document will affect the right of any party hereto to serve process in any other manner permitted by applicable
Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severability
of Provisions</I> Any provision of any Loan Document which is unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such unenforceability without invalidating the remaining provisions hereof or affecting the validity
or enforceability of such provision in any other jurisdiction. All rights, remedies and powers provided in this Agreement and the
other Loan Documents may be exercised only to the extent that the exercise thereof does not violate any applicable mandatory provisions
of law, and all the provisions of this Agreement and other Loan Documents are intended to be subject to all applicable mandatory
provisions of law which may be controlling and to be limited to the extent necessary so that they will not render this Agreement
or the other Loan Documents invalid or unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excess
Interest</I>. Notwithstanding any provision to the contrary contained herein or in any other Loan Document, no such provision shall
require the payment or permit the collection of any amount of interest in excess of the maximum amount of interest permitted by
applicable law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the Loans
or other obligations outstanding under this Agreement or any other Loan Document (<I>&ldquo;Excess Interest&rdquo;</I>). If any
Excess Interest is provided for, or is adjudicated to be provided for, herein or in any other Loan Document, then in such event
(a)&nbsp;the provisions of this Section shall govern and control, (b)&nbsp;no Loan Party nor any endorser shall be obligated to
pay any Excess Interest, (c)&nbsp;any Excess Interest that the Administrative Agent or any Lender may have received hereunder shall,
at the option of the Administrative Agent, be (i)&nbsp;applied as a credit against the then outstanding principal amount of Obligations
hereunder and accrued and unpaid interest thereon (not to exceed the maximum amount permitted by applicable law), (ii)&nbsp;refunded
to the Borrower, or (iii)&nbsp;any combination of the foregoing, (d)&nbsp;the interest rate payable hereunder or under any other
Loan Document shall be automatically subject to reduction to the maximum lawful contract rate allowed under applicable usury laws
(the <I>&ldquo;Maximum Rate&rdquo;</I>), and this Agreement and the other Loan Documents shall be deemed to have been, and shall
be, reformed and modified to reflect such reduction in the relevant interest rate, and (e)&nbsp;No Loan Party nor any endorser
shall have any action against the Administrative Agent or any Lender for any Damages whatsoever arising out of the payment or collection
of any Excess Interest. Notwithstanding the foregoing, if for any period of time interest on any of Borrower&rsquo;s Obligations
is calculated at the Maximum Rate rather than the applicable rate under this Agreement, and thereafter such applicable rate becomes
less than the Maximum Rate, the rate of interest payable on the Borrower&rsquo;s Obligations shall remain at the Maximum Rate until
the Lenders have received the amount of interest which such Lenders would have received during such period on the Borrower&rsquo;s
Obligations had the rate of interest not been limited to the Maximum Rate during such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction</I>.
The parties acknowledge and agree that the Loan Documents shall not be construed more favorably in favor of any party hereto based
upon which party drafted the same, it being acknowledged that all parties hereto contributed substantially to the negotiation of
the Loan Documents. The provisions of this Agreement relating to Subsidiaries and to Guarantors, respectively, shall apply only
during such times as the Borrower has one or more Subsidiaries and as there are one or more Guarantors, respectively. Nothing contained
herein shall be deemed or construed to permit any act or omission which is prohibited by the terms of any Collateral Document,
the covenants and agreements contained herein being in addition to and not in substitution for the covenants and agreements contained
in the Collateral Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lender&rsquo;s
and L/C Issuer&rsquo;s Obligations Several</I>. The obligations of the Lenders and the L/C Issuer hereunder are several and not
joint. Nothing contained in this Agreement and no action taken by the Lenders or the L/C Issuer pursuant hereto shall be deemed
to constitute the Lenders and the L/C Issuer a partnership, association, joint venture or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA
Patriot Act</I>. Each Lender hereby notifies the Borrower that pursuant to the requirements of the Patriot Act it is required to
obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower
and other information that will allow such Lender and L/C Issuer to identify the Borrower in accordance with the Patriot Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waiver
of Jury Trial</I>. <FONT STYLE="font-variant: small-caps">Each of the Loan Parties, the Administrative Agent, the L/C Issuer and
the Lenders hereby irrevocably waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury
in any legal proceeding directly or indirectly arising out of or relating to this Agreement or any other Loan Document or the transactions
contemplated hereby or thereby (whether based on contract, tort or any other theory). Each party hereto (a)&nbsp;certifies that
no representative, agent or attorney of any other person has represented, expressly or otherwise, that such other person would
not, in the event of litigation, seek to enforce the foregoing waiver and (b)&nbsp;acknowledges that it and the other parties hereto
have been induced to enter into this Agreement and the other Loan Documents by, among other things, the mutual waivers and certifications
in this section.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treatment
of Certain Information; Confidentiality</I>. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed (a)&nbsp;to its Affiliates
and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (b)&nbsp;to the extent required or requested
by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c)&nbsp;to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d)&nbsp;to any other party hereto, (e)&nbsp;in connection with the exercise
of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other
Loan Document or the enforcement of rights hereunder or thereunder, (f)&nbsp;subject to an agreement containing provisions substantially
the same as those of this Section, to (i)&nbsp;any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights and obligations under this Agreement, <I>provided </I>that such assignee or Participant is subject to the
provisions of this Section 10.21 or (ii) any actual or prospective party (or its Related Parties) to any Hedge Agreement under
which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder, (g)&nbsp;on
a confidential basis to (i) any rating agency in connection with rating the Loan Parties or the Credits or (ii) the CUSIP Service
Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Credits, (h) with
the consent of the Borrower, or (i)&nbsp;to the extent such Information (A)&nbsp;becomes publicly available other than as a result
of a breach of this Section or (B)&nbsp;becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their
respective Affiliates on a nonconfidential basis from a source other than the Borrower. In addition, the Administrative Agent and
the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar
service providers to the lending industry and service providers to the Administrative Agent and the Lenders in connection with
the administration of this Agreement, the other Loan Documents and the Commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Section, <I>&ldquo;Information&rdquo;</I>
means all information received from any Loan Party relating to the Loan Parties or any of their respective businesses, other than
any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior
to disclosure by any Loan Party or any of its Subsidiaries, <I>provided</I> that, in the case of information received from any
Loan Party or any of its Subsidiaries after the date hereof, such information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered
to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality
of such Information as such Person would accord to its own confidential information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counterparts;
Integration; Effectiveness. </I>This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement
and the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent, constitute
the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings,
oral or written, relating to the subject matter hereof. Except as provided in Section&nbsp;3.2, this Agreement shall become effective
when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts
hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart
of a signature page of this Agreement by facsimile or in electronic (<I>e.g.</I> &ldquo;pdf&rdquo; or &ldquo;tif&rdquo;) format
shall be effective as delivery of a manually executed counterpart of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Powers Coupled with Interest</I>. All powers of attorney and other authorizations granted to the Lenders, the Administrative Agent
and any Persons designated by the Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the
other Loan Documents shall be deemed coupled with an interest and shall be irrevocable so long as any Credit is available and until
the Facility Termination Date. All such powers of attorney shall be for security.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>


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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guarantees</I>. To induce the Lenders and L/C&nbsp;Issuer to provide the credits described herein and in consideration of benefits
expected to accrue to the Borrower by reason of the Commitments and the Loans and for other good and valuable consideration, receipt
of which is hereby acknowledged, the Parent and each Subsidiary party hereto<B> </B>(including any Subsidiary executing an Additional
Guarantor Supplement substantially in the form attached hereto as Exhibit&nbsp;G or such other form reasonably acceptable to the
Administrative Agent) and the Borrower (as to the Secured Obligations of another Loan Party) hereby unconditionally and irrevocably
guarantees jointly and severally to the Administrative Agent, the Lenders, and the L/C&nbsp;Issuer and their Affiliates that are
parties to any document evidencing the Hedging Liability or Bank Product Liability, the due and punctual payment of all present
and future Secured Obligations, including, but not limited to, the due and punctual payment of principal of and interest on the
Loans, the Reimbursement Obligations, and the due and punctual payment of all other Obligations now or hereafter owed by the Borrower
under the Loan Documents and the due and punctual payment of all Hedging Liability and Bank Product Liability, in each case as
and when the same shall become due and payable, whether at stated maturity, by acceleration, or otherwise, according to the terms
hereof and thereof (including all interest, costs, fees, and charges after the entry of an order for relief against the Borrower
or such other obligor in a case under the United States Bankruptcy Code or any similar proceeding, whether or not such interest,
costs, fees and charges would be an allowed claim against the Borrower or any such obligor in any such proceeding); <I>provided</I>,
<I>however</I> that, with respect to any Guarantor, subject to Section&nbsp;11.10, Hedging Liability guaranteed by such Guarantor
shall exclude all Excluded Swap Obligations. In case of failure by the Borrower or other obligor punctually to pay any Secured
Obligations guaranteed hereby, each Guarantor hereby unconditionally, jointly and severally agrees to make such payment or to cause
such payment to be made punctually as and when the same shall become due and payable, whether at stated maturity, by acceleration,
or otherwise, and as if such payment were made by the Borrower or such obligor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantee
Unconditional</I>. The obligations of each Guarantor under this Section&nbsp;11 shall be unconditional and absolute and, without
limiting the generality of the foregoing, shall not be released, discharged, or otherwise affected by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
extension, renewal, settlement, compromise, waiver, or release in respect of any obligation of any Loan Party or other obligor
or of any other guarantor under this Agreement or any other Loan Document or by operation of law or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
modification or amendment of or supplement to this Agreement or any other Loan Document or any agreement relating to Hedging Liability
or Bank Product Liability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
change in the corporate existence, structure, or ownership of, or any proceeding under any Debtor Relief Law affecting, the Borrower
or other obligor, any other guarantor, or any of their respective assets, or any resulting release or discharge of any obligation
of any Loan Party or other obligor or of any other guarantor contained in any Loan Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
existence of any claim, set-off, or other rights which any Loan Party or other obligor or any other guarantor may have at any time
against the Administrative Agent, any Lender, the L/C&nbsp;Issuer or any other Person, whether or not arising in connection herewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
failure to assert, or any assertion of, any claim or demand or any exercise of, or failure to exercise, any rights or remedies
against any Loan Party or other obligor, any other guarantor, or any other Person or Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
application of any sums by rights of set-off, counterclaim, or similar rights to any obligation of any Loan Party or other obligor,
regardless of what obligations of any Loan Party or other obligor remain unpaid, including the Secured Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
invalidity or unenforceability relating to or against any Loan Party or other obligor or any other guarantor for any reason of
this Agreement or of any other Loan Document or any agreement relating to Hedging Liability or Bank Product Liability or any provision
of applicable law or regulation purporting to prohibit the payment by any Loan Party or other obligor or any other guarantor of
the principal of or interest on any Loan or any Reimbursement Obligation or any other amount payable under the Loan Documents or
any agreement relating to Hedging Liability or Bank Product Liability; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other act or omission to act or delay of any kind by the Administrative Agent, any Lender, the L/C&nbsp;Issuer, or any other Person
or any other circumstance whatsoever that might, but for the provisions of this clause (h), constitute a legal or equitable discharge
of the obligations of any Guarantor under this Section&nbsp;11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discharge
Only upon Facility Termination Date; Reinstatement in Certain Circumstances</I>. Each Guarantor&rsquo;s obligations under this
Section&nbsp;11 shall remain in full force and effect until the Facility Termination Date. If at any time any payment of the principal
of or interest on any Loan or any Reimbursement Obligation or any other amount payable by any Loan Party or other obligor or any
Guarantor under the Loan Documents or any agreement relating to Hedging Liability or Bank Product Liability is rescinded or must
be otherwise restored or returned upon the insolvency, bankruptcy, or reorganization of such Loan Party or other obligor or of
any guarantor, or otherwise, each Guarantor&rsquo;s obligations under this Section&nbsp;11 with respect to such payment shall be
reinstated at such time as though such payment had become due but had not been made at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subrogation</I>.
Each Guarantor agrees it will not exercise any rights which it may acquire by way of subrogation, reimbursement or indemnification
by any payment made hereunder, or otherwise, until all the Secured Obligations (other than any contingent or indemnification obligations
not then due) shall have been paid in full or collateralized in a manner reasonably acceptable to the Lender or Affiliate of a
Lender to whom such obligations are owed subsequent to the termination of all the Commitments and expiration of all Letters of
Credit that are not Cash Collateralized pursuant to Section&nbsp;4.5. If any amount shall be paid to a Guarantor on account of
such subrogation, reimbursement or indemnification rights at any time prior to the Facility Termination Date, such amount shall
be held in trust for the benefit of the Administrative Agent, the Lenders, and the L/C&nbsp;Issuer (and their Affiliates) and shall
forthwith be paid to the Administrative Agent for the benefit of the Lenders and L/C&nbsp;Issuer (and their Affiliates) or be credited
and applied upon the Secured Obligations, whether matured or unmatured, in accordance with the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordination</I>.
Each Guarantor hereby subordinates the payment of all indebtedness, obligations, and liabilities of the Borrower or any other Loan
Party owing to such Guarantor, whether now existing or hereafter arising, to the indefeasible payment in full in cash of all Secured
Obligations (other than any contingent obligations not due and owing and Letters of Credit Cash Collateralized). During the existence
of any Event of Default, subject to Section&nbsp;11.4 above, any such indebtedness, obligation, or liability of the Borrower or
any other Loan Party owing to such Guarantor shall be enforced and performance received by such Guarantor as trustee for the benefit
of the holders of the Secured Obligations<B> </B>and the proceeds thereof shall be paid over to the Administrative Agent for application
to the Secured Obligations (whether or not then due), but without reducing or affecting in any manner the liability of such Guarantor
under this Section&nbsp;11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waivers</I>.
Each Guarantor irrevocably waives acceptance hereof, presentment, demand, protest, and any notice not provided for herein, as well
as any requirement that at any time any action be taken by the Administrative Agent, any Lender, the L/C&nbsp;Issuer, or any other
Person against the Borrower or any other Loan Party or other obligor, another guarantor, or any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limit
on Recovery</I>. Notwithstanding any other provision hereof, the right of recovery against each Guarantor under this Section&nbsp;11
shall not exceed $1.00 less than the lowest amount which would render such Guarantor&rsquo;s obligations under this Section 11
void or voidable under applicable law, including fraudulent conveyance law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stay
of Acceleration</I>. If acceleration of the time for payment of any amount payable by the Borrower or other Loan Party or other
obligor under this Agreement or any other Loan Document, or under any agreement relating to Hedging Liability or Bank Product Liability,
is stayed upon the insolvency, bankruptcy or reorganization of the Borrower or such other Loan Party or obligor, all such amounts
otherwise subject to acceleration under the terms of this Agreement or the other Loan Documents, or under any agreement relating
to Hedging Liability or Bank Product Liability, shall nonetheless be payable by the Guarantors hereunder forthwith on demand by
the Administrative Agent made at the request or otherwise with the consent of the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit
to Guarantors</I>. The Loan Parties are engaged in related businesses and integrated to such an extent that the financial strength
and flexibility of the Borrower and the other Loan Parties has a direct impact on the success of each Guarantor. Each Guarantor
will derive substantial direct and indirect benefit from the extensions of credit hereunder, and each Guarantor acknowledges that
this guarantee is necessary or convenient to the conduct, promotion and attainment of its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keepwell</I>.
Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such
funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Section
11 in respect of Swap Obligations (<I>provided</I>, <I>however</I>, that each Qualified ECP Guarantor shall only be liable under
this Section 11.10 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under
this Section 11.10, or otherwise under this Section, voidable under applicable Legal Requirements relating to fraudulent conveyance
or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section&nbsp;11.10
shall remain in full force and effect until discharged in accordance with Section&nbsp;11.3. Each Qualified ECP Guarantor intends
that this Section 11.10 constitute, and this Section 11.10 shall be deemed to constitute, a &ldquo;keepwell, support, or other
agreement&rdquo; for the benefit of each other Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 11.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantor
Covenants.</I> Each Guarantor shall take such action as the Borrower is required by this Agreement to cause such Guarantor to take,
and shall refrain from taking such action as the Borrower is required by this Agreement to prohibit such Guarantor from taking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Pages to Follow]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement is entered
into between us for the uses and purposes hereinabove set forth as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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">[Signature Page to Credit Agreement]</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-variant: small-caps"><I>&nbsp;</I></FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><I>&nbsp;</I></FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps"><I>&ldquo;Borrower&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="width: 40%; text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps"><I>&ldquo;Guarantors&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Limbach Company LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Harper Limbach LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Limbach Company LP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President, Chief Financial Officer and Treasurer</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-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Harper Limbach Construction LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-indent: 0in">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Executive Vice President and Treasurer</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-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-align: justify; text-indent: -11.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><I>&ldquo;Lenders&rdquo;</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation<FONT STYLE="font-variant: small-caps">,</FONT> as a Lender, as L/C&nbsp;Issuer, and as Administrative Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-indent: 0in">David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Vice President</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; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Citizens Bank of Pennsylvania, </FONT>as a Lender</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ John J. Ligday, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in; width: 40%">John J. Ligday, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Senior Vice President</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; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>


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<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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">The PrivateBank and Trust Company, </FONT>as a Lender</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ David L. Sauerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 4%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 6%">Name </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in; width: 40%">David L. Sauerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Managing Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>


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    <!-- Field: /Page -->

<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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Wheaton Bank &amp; Trust Company, </FONT>as a Lender</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/Christopher Van Tassel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-indent: 0in">Christopher Van Tassel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Vice President</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; text-align: center">[Signature Page to Credit Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Notice
of Payment Request</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">To:</TD><TD>[Name of Lender]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -27pt">[Address]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attention:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Credit Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services
LLC, </FONT>a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach
Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto,
the Lenders party thereto, and <FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation, as
Administrative Agent and L/C Issuer (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>).
Capitalized terms used herein and not defined herein have the meanings assigned to them in the Credit Agreement. [The Borrower
has failed to pay its Reimbursement Obligation in the amount of $__________. Your Revolver Percentage of the unpaid Reimbursement
Obligation is $_____________] or [__________________________ has been required to return a payment by the Borrower of a Reimbursement
Obligation in the amount of $_______________. Your Revolver Percentage of the returned Reimbursement Obligation is $_______________.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&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>&nbsp;</TD>
    <TD COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Fifth Third Bank, </FONT>as L/C Issuer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;B</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Notice
of Borrowing</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">To:</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Fifth Third Bank, as Administrative</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Agent under, and the Lenders party to,</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">the Credit Agreement described below</P></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Credit Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services
LLC, </FONT>a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach
Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto,
the Lenders party thereto, and <FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation, as
Administrative Agent and L/C Issuer (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>).
Capitalized terms used herein and not defined herein have the meanings assigned to them in the Credit Agreement. The Borrower hereby
gives you notice irrevocably, pursuant to Section&nbsp;2.5 of the Credit Agreement, of the Borrowing specified below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Business Day of the proposed Borrowing is ___________, 20___.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
aggregate amount of the proposed Borrowing is $______________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrowing is being advanced under the <B>[Revolving] [Term] </B>Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrowing is to be comprised of $___________ of <B>[Base Rate] [Eurodollar]</B> Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>[5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
duration of the Interest Period for the Eurodollar Loans included in the Borrowing shall be ____________ months.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
certifies that the following statements are true on the date hereof, and will be true on the date of the proposed Borrowing, before
and after giving effect thereto and to the application of the proceeds therefrom:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties contained in Section&nbsp;5 of the Credit Agreement are true and correct (or, in the case of any
representation or warranty not qualified as to materiality, true and correct in all material respects) as though made on and as
of such date (except to the extent such representations and warranties relate to an earlier date, in which case they are true and
correct (or, in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects)
as of such earlier date); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Default or Event of Default has occurred and is continuing or would result from such proposed Borrowing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Notice of Borrowing]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;C</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Notice
of Continuation/Conversion</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Date: ____________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">To:</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Fifth Third Bank, as Administrative</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Agent under, and the Lenders party to,</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">the Credit Agreement described below</P></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Credit Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach
Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto,
the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative Agent and L/C Issuer (as amended,
restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>). Capitalized terms used herein
and not defined herein have the meanings assigned to them in the Credit Agreement. The Borrower hereby gives you notice irrevocably,
pursuant to Section&nbsp;2.5 of the Credit Agreement, of the <B>[conversion] [continuation]</B> of the Loans specified herein,
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
conversion/continuation date is __________, ____.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
aggregate amount of the <B>[Revolving] [Term] </B>Loans to be <B>[converted] [continued]</B> is $______________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Loans are to be <B>[converted into] [continued as] [Eurodollar] [Base Rate]</B> Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>[If
applicable:]</B> The duration of the Interest Period for the <B>[Revolving] [Term]</B> Loans included in the <B>[conversion] [continuation]</B>
shall be _________ months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
certifies that the following statements are true on the date hereof, and will be true on the proposed conversion/continuation date,
before and after giving effect thereto and to the application of the proceeds therefrom:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties contained in Section&nbsp;5 of the Credit Agreement are true and correct (or, in the case of any
representation or warranty not qualified as to materiality, true and correct in all material respects) as though made on and as
of such date (except to the extent such representations and warranties relate to an earlier date, in which case they are true and
correct (or, in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects)
as of such earlier date); <I>provided, however,</I> that the Borrower does not make the foregoing certification with respect to
the conversion of an outstanding Eurodollar Loan to a Base Rate Loan; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Default or Event of Default has occurred and is continuing, or would result from such proposed <B>[conversion] [continuation]</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Notice of Continuation/Conversion]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;D-1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Term
Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 50%; text-align: justify"><FONT STYLE="font-variant: small-caps">$_______________</FONT></TD>
    <TD STYLE="width: 50%; text-align: right">____________, 20__</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">For</FONT>
<FONT STYLE="font-variant: small-caps">Value</FONT> <FONT STYLE="font-variant: small-caps">Received</FONT>, the undersigned, <FONT STYLE="font-variant: small-caps">Limbach
Facility Services LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), hereby unconditionally
promises to pay to _________________________ (the <I>&ldquo;Lender&rdquo;</I>) or its registered assigns at the principal office
of Fifth Third Bank, an Ohio banking corporation, as Administrative Agent, in Cincinnati, Ohio (or such other location as the Administrative
Agent may designate to the Borrower), in immediately available funds, the principal sum of ___________________ Dollars ($__________)
or, if less, the aggregate unpaid principal amount of the Term Loan made or maintained by the Lender to the Borrower pursuant to
the Credit Agreement, in installments in the amounts called for by Section&nbsp;2.7(a) of the Credit Agreement, commencing on September
30, 2016, together with interest on the principal amount of such Term Loan from time to time outstanding hereunder at the rates,
and payable in the manner and on the dates, specified in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Term Note (this
<I>&ldquo;Note&rdquo;</I>) is one of the Term Notes referred to in the Credit Agreement dated as of July 20, 2016, among the Borrower,
<FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>),
the other Guarantors party thereto, the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative
Agent and L/C Issuer (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>),
and this Note and the holder hereof are entitled to all the benefits and security provided for thereby or referred to therein,
to which Credit Agreement reference is hereby made for a statement thereof. All defined terms used in this Note, except terms otherwise
defined herein, shall have the same meaning as in the Credit Agreement. This Note shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of law provisions (other than Sections&nbsp;5-1401 and 5-1402
of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voluntary prepayments
may be made hereon, certain prepayments are required to be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided for in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
waives demand, presentment, protest or notice of any kind hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;D-2</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Revolving
Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 50%; text-align: justify"><FONT STYLE="font-variant: small-caps">$_______________</FONT></TD>
    <TD STYLE="width: 50%; text-align: right">____________, 20__</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">For</FONT>
<FONT STYLE="font-variant: small-caps">Value</FONT> <FONT STYLE="font-variant: small-caps">Received</FONT>, the undersigned, <FONT STYLE="font-variant: small-caps">Limbach
Facility Services LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), hereby unconditionally
promises to pay to ____________________________ (the <I>&ldquo;Lender&rdquo;</I>) or its registered assigns, on the Revolving Credit
Termination Date of the hereinafter defined Credit Agreement, at the principal office of Fifth Third Bank, an Ohio banking corporation,
as Administrative Agent, in Cincinnati, Ohio (or such other location as the Administrative Agent may designate to the Borrower),
in immediately available funds, the principal sum of ___________________ Dollars ($__________) or, if less, the aggregate unpaid
principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to the Credit Agreement, together with interest
on the principal amount of each Revolving Loan from time to time outstanding hereunder at the rates, and payable in the manner
and on the dates, specified in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Revolving Note
(this <I>&ldquo;Note&rdquo;</I>) is one of the Revolving Notes referred to in the Credit Agreement dated as of July 20, 2016, among
the Borrower, <FONT STYLE="font-variant: small-caps">Limbach Holdings LLC,</FONT> a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>),
the other Guarantors party thereto, the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative
Agent and L/C Issuer (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>),
and this Note and the holder hereof are entitled to all the benefits and security provided for thereby or referred to therein,
to which Credit Agreement reference is hereby made for a statement thereof. All defined terms used in this Note, except terms otherwise
defined herein, shall have the same meaning as in the Credit Agreement. This Note shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401 and 5-1402 of
the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voluntary prepayments
may be made hereon, certain prepayments are required to be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided for in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
waives demand, presentment, protest or notice of any kind hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;D-3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Swing
Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 50%; text-align: justify"><FONT STYLE="font-variant: small-caps">$_________</FONT></TD>
    <TD STYLE="width: 50%; text-align: right">_________, 20__</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">For</FONT>
<FONT STYLE="font-variant: small-caps">Value</FONT> <FONT STYLE="font-variant: small-caps">Received</FONT>, the undersigned, <FONT STYLE="font-variant: small-caps">Limbach
Facility Services LLC</FONT>, a Delaware limited liability company <FONT STYLE="font-variant: small-caps">(</FONT>the <I>&ldquo;Borrower&rdquo;</I>),
hereby unconditionally promises to pay to <FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation
(the <I>&ldquo;Lender&rdquo;</I>) or its registered assigns, on the Revolving Credit Termination Date of the hereinafter defined
Credit Agreement, at the principal office of Fifth Third Bank, an Ohio banking corporation, as Administrative Agent, in Cincinnati,
Ohio (or such other location as the Administrative Agent may designate to the Borrower), in immediately available funds, the principal
sum of ________________ Dollars ($____________) or, if less, the aggregate unpaid principal amount of all Swing Loans made by the
Lender to the Borrower pursuant to the Credit Agreement, together with interest on the principal amount of each Swing Loan from
time to time outstanding hereunder at the rates, and payable in the manner and on the dates, specified in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Swing Note (this
<I>&ldquo;Note&rdquo;</I>) is the Swing Note referred to in the Credit Agreement dated as of July 20, 2016, among the Borrower,
<FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>),
the other Guarantors party thereto, the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative
Agent and L/C Issuer (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>),
and this Note and the holder hereof are entitled to all the benefits and security provided for thereby or referred to therein,
to which Credit Agreement reference is hereby made for a statement thereof. All defined terms used in this Note, except terms otherwise
defined herein, shall have the same meaning as in the Credit Agreement. This Note shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401 and 5-1402 of
the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voluntary prepayments
may be made hereon, certain prepayments are required to be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided for in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
waives demand, presentment, protest or notice of any kind hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;E</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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Compliance
Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">To:</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Fifth Third Bank, as Administrative</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Agent under, and the Lenders party to,</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">the Credit Agreement described below</P></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Credit Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach
Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto,
the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative Agent and L/C Issuer (as amended,
restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>). Capitalized terms used herein
and not defined herein have the meanings assigned to them in the Credit Agreement. This Compliance Certificate is furnished to
the Administrative Agent and the Lenders pursuant to the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">The
Undersigned, solely in the capacity set forth in paragraph 1 below and not in any individual capacity, hereby certifies that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
am the duly elected/appointed ____________ of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
have reviewed the terms of the Credit Agreement and I have made, or have caused to be made under my supervision, a detailed review
of the transactions and conditions of the Parent and its Subsidiaries during the accounting period covered by the attached financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Default or Event of Default has occurred and is continuing during or at the end of the accounting period covered by the attached
financial statements or as of the date of this Compliance Certificate, except as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financial statements required by Section&nbsp;6.1 of the Credit Agreement and being furnished to you concurrently with this Compliance
Certificate fairly and adequately present in all material respects the financial condition of the Borrower and its Subsidiaries
as of <B>[___________]</B>, and the results of their operations and cash flows for the <B>[quarter/year]</B> ended, in conformity
with GAAP applied on a consistent basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
representations and warranties contained in Section&nbsp;5 of the Credit Agreement are true and correct (or, in the case of any
representation or warranty not qualified as to materiality, true and correct in all material respects) as though made on and as
of such date (except to the extent such representations and warranties relate to an earlier date, in which case they are true and
correct (or, in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects)
as of such earlier date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;I
hereto sets forth financial data and computations evidencing the Loan Parties&rsquo; compliance with certain covenants of the Credit
Agreement, all of which data and computations are, to the best of my knowledge, true, complete and correct and have been made in
accordance with the relevant Sections of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;II
hereto sets forth a comparison of current financials against the budget for such period as required by Section&nbsp;6.1(d) of the
Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attached
hereto is an updated Schedule 5.9 to the Credit Agreement, which is true, complete and correct as of the date of this Compliance
Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Described
below are the exceptions, if any, to paragraph&nbsp;3 above by listing, in detail, the nature of the condition or event, the period
during which it has existed and the action which the Borrower has taken, is taking, or proposes to take with respect to each such
condition or event:</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"></P>

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<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"></P>

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<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"></P>

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<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"></P>

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<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; text-align: justify; text-indent: 0.5in">In the event of a conflict
between the attached Schedule&nbsp;I and any certifications relating thereto and the Credit Agreement and related definitions used
in calculating such covenants, the Credit Agreement and such related definitions shall govern and control. The foregoing certifications,
together with the computations set forth in Schedule&nbsp;I hereto and the financial statements attached as Schedule II hereto
in support hereof, are made and delivered as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Compliance Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Compliance Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Compliance
Calculations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Credit Agreement dated as of July 20, 2016</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Calculations
as of _____________, </FONT>20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<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>A.</td>
    <td colspan="2" style="text-decoration: underline"><u>Total Leverage Ratio (Section&nbsp;6.20(a))</u></td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="width: 7%">&nbsp;</td>
    <td style="width: 7%">1.</td>
    <td style="width: 73%">Total Funded Debt<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></td>
    <td style="width: 13%; text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>2.</td>
    <td>Net Income for past 4 quarters</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>3.</td>
    <td>Interest Expense for past 4 quarters</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>4.</td>
    <td>Federal, state and local income taxes for past 4 quarters</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>5.</td>
    <td>Depreciation and amortization expense for past 4 quarters</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>6.</td>
    <td>Transaction expenses incurred in connection with Permitted Acquisitions, whether or not consummated (not to exceed $50,000 in the aggregate) for past 4 quarters</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>7.</td>
    <td>Fees and expenses paid in cash for past 4 quarters in connection with the Credit Agreement and the Related Transactions to the extent paid on or before that date occurring six months after the Closing Date in an aggregate amount not to exceed $2,500,000</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>8.</td>
    <td>Losses or other charges related to Legacy Claims for past 4 quarters in an amount not to exceed $500,000 during such 4 quarters (and in an aggregate amount not to exceed $2,500,000 during the term of the Credit Agreement)</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>9.</td>
    <td>Sum of Lines A2, A3, A4, A5, A6, A7 and A8 (<i>&ldquo;EBITDA&rdquo;</i>)</td>
    <td style="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>10.</td>
    <td>Ratio of Line A1 to Line A9 (<i>&ldquo;Total Leverage Ratio&rdquo;</i>)</td>
    <td style="text-align: center">____:1.00</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>11.</td>
    <td>Total Leverage Ratio (from Line A10) must not exceed</td>
    <td style="text-align: center">____:1.00</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>12.</td>
    <td>The Borrower and its Subsidiaries are in compliance (circle yes or no)</td>
    <td style="text-align: center">yes/no</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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>Total Funded Debt does not include obligations in respect of Bonding Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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>B.</td>
    <td colspan="2" style="text-decoration: underline"><u>Senior Leverage Ratio (Section 6.20(b))</u></td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</td>
    <TD STYLE="width: 7%">1.</td>
    <TD STYLE="width: 73%">Total Funded Debt (from Line A1)</td>
    <TD STYLE="width: 13%; text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>2.</td>
    <TD>Subordinated Debt</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>3.</td>
    <TD>Line B1<i> minus</i> Line B2</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>4.</td>
    <TD>EBITDA (from Line A9)</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>5.</td>
    <TD>Ratio of Line B3 to Line B4 (<i>&ldquo;Senior Leverage Ratio&rdquo;</i>)</td>
    <TD STYLE="text-align: center">____:1.00</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>6.</td>
    <TD>Senior Leverage Ratio (from Line B5) must not exceed</td>
    <TD STYLE="text-align: center">____:1.00</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>7.</td>
    <TD>The Borrower and its Subsidiaries are in compliance (circle yes or no)</td>
    <TD STYLE="text-align: center">yes/no</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>C.</td>
    <TD COLSPAN="2"><U>Fixed Charge Coverage Ratio (Section&nbsp;6.20(c))</U></td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>1.</td>
    <TD>EBITDA (from Line A9)</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>2.</td>
    <TD>Capital Expenditures not financed with Indebtedness for past 4&nbsp;quarters</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>3.</td>
    <TD>Line C1 <i>minus</i> Line C2</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>4.</td>
    <TD>Regularly Scheduled Principal Payments (excluding any Excess Cash Flow payment) for past 4&nbsp;quarters<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>5.</td>
    <TD>Cash portion of Interest Expense for past 4 quarters<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>6.</td>
    <TD>Restricted Payments (including, without duplication, Tax Distributions) for past 4 quarters</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>7.</td>
    <TD>Federal, state and local income taxes paid in cash for past 4&nbsp;quarters</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>8.</td>
    <TD>Sum of Lines C4, C5, C6 and C7 (<i>&ldquo;Fixed Charges&rdquo;</i>)</td>
    <TD STYLE="text-align: center">$___________</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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2
</SUP></FONT>For purposes of calculating Fixed Charges for any period prior to the quarter ending September 30, 2017, scheduled
payments of principal shall be deemed for all periods included in such calculation to be an aggregate of $3,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT>
For purposes of calculating Fixed Charges for any period prior to the quarter ending September 30, 2017, the cash portion of
any Interest Expense for such period shall mean (A) for the fiscal quarter ending September 30, 2016, the actual
cash Interest Expense for such quarter multiplied by 4, (B) for the fiscal quarter ending December 31, 2016, the actual cash
Interest Expenses for the fiscal quarters ending September 30, 2016 and December 31, 2016 multiplied by 2, and (C) for the
fiscal quarter ending March 31, 2017, the actual cash Interest Expenses for the fiscal quarters ending September 30, 2016,
December 31, 2016 and March 31, 2017 multiplied by 4/3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<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: 7%">&nbsp;</td>
    <TD STYLE="width: 7%">9.</td>
    <TD STYLE="width: 73%">Ratio of Line C3 to Line C8 (<i>&ldquo;Fixed Charge Coverage Ratio&rdquo;</i>)</td>
    <TD STYLE="width: 13%; text-align: center">____:1.00</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>10.</td>
    <TD>Fixed Charge Coverage Ratio (from Line C9) must not be less than</td>
    <TD STYLE="text-align: center">1.25:1.00</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>11.</td>
    <TD>The Borrower and its Subsidiaries are in compliance (circle yes or no)</td>
    <TD STYLE="text-align: center">yes/no</td></tr>
</table>
<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>D.</td>
    <td colspan="2" style="text-decoration: underline"><u>Minimum Tangible Net Worth (Section&nbsp;6.20(d))</u></td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</td>
    <TD STYLE="width: 7%">1.</td>
    <TD STYLE="width: 73%">Capital stock (less treasury stock), paid-in capital surplus and retained earnings (deficit) of the Borrower and any of its Subsidiaries (excluding inter-company items and all amounts properly attributable to minority interests, if any, in the stock and surplus of any such Subsidiary)</td>
    <TD STYLE="width: 13%; text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>2.</td>
    <TD>Deferred charges (less amortization, unamortized debt discount and expenses and corporate organization expenses)</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>3.</td>
    <TD>Book amount of all assets which would be treated as intangibles under GAAP, including, without limitation, such items as goodwill, trademark applications, trade names, service marks, brand names, copyrights, patents, patent applications and licenses, and rights with respect to the foregoing</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>4.</td>
    <TD>Amount by which aggregate inventories or aggregate securities appearing on the asset side of such consolidated balance sheet exceed the lower of cost or market value (at the date of such balance sheet)</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>5.</td>
    <TD>Any write-up in the book amount of any asset resulting from a revaluation thereof from the book amount entered upon acquisition of such asset</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>6.</td>
    <TD>Sum of Lines D2, D3, D4 and D5</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>7.</td>
    <TD>Line D1 <i>minus </i>Line D6</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>8.</td>
    <TD>Line D7 must be less than</td>
    <TD STYLE="text-align: center">$___________</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>9.</td>
    <TD>The Borrower and its Subsidiaries are in compliance (circle yes or no)</td>
    <TD STYLE="text-align: center">yes/no</td></tr>
</table>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Compliance Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Financial
Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Credit Agreement dated as of July 20, 2016</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[See attached.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.9</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Compliance Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Updated
Schedule 5.9</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Credit Agreement dated as of July 20, 2016</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;F</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Assignment
and Assumption</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Assignment and
Assumption (this <I>&ldquo;Assignment and Assumption&rdquo;</I>) is dated as of the Effective Date set forth below and is entered
into by and between <B>[Insert Name of Assignor]</B> (the <I>&ldquo;Assignor&rdquo;</I>) and <B>[Insert Name of Assignee]</B> (the
<I>&ldquo;Assignee&rdquo;</I>). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit
Agreement identified below (as amended, the <I>&ldquo;Credit Agreement&rdquo;</I>), receipt of a copy of which is hereby acknowledged
by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein
by reference and made a part of this Assignment and Assumption as if set forth herein in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below (i)&nbsp;all of the Assignor&rsquo;s rights and obligations in
its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent
related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor
under the respective facilities identified below (including any letters of credit, guarantees, and swingline loans included in
such facilities) and (ii)&nbsp;to the extent permitted to be assigned under applicable law, all claims, suits, causes of action
and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or
in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort
claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold
and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above
being referred to herein collectively as, the <I>&ldquo;Assigned Interest&rdquo;</I>). Such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the
Assignor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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: 0.5in; text-align: justify">1.</td>
    <TD STYLE="width: 0.75in; text-align: justify"><i>Assignor:</i></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><b>[Assignor [is] [is not] a Defaulting Lender]</b></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">2.</td>
    <TD STYLE="text-align: justify"><i>Assignee:</i></td>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><B>[and is an Affiliate/Approved Fund of [<I>identify Lender</I>]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT></B><B><FONT STYLE="font-size: 10pt">]</FONT></B></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">3.</TD><TD STYLE="text-align: justify"><I>Borrower:</I> Limbach Facility Services LLC, a Delaware limited liability company</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">4.</TD><TD STYLE="text-align: justify"><I>Administrative Agent:</I> Fifth Third Bank, an Ohio banking corporation, as administrative agent
under the Credit Agreement</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></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="font-family: Times New Roman, Times, Serif"><SUP>4</SUP></FONT></TD><TD STYLE="text-align: justify">Select as applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><I>Credit Agreement:</I> The Credit Agreement dated as of July 20, 2016, by and among the Borrower,
Limbach Holdings LLC (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders party thereto, and Fifth
Third Bank, as Administrative Agent and L/C&nbsp;Issuer</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">6.</TD><TD STYLE="text-align: justify"><I>Assigned Interest:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-style: italic; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><I>Facility
    Assigned<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><SUP>5</SUP></B></FONT></I></FONT></TD><TD NOWRAP STYLE="font-style: italic; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-style: italic; text-align: center; border-bottom: Black 1pt solid">Aggregate Amount of<BR>
    Commitment/Loans for<BR> all Lenders<SUP>3</SUP></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-style: italic">&nbsp;</TD><TD NOWRAP STYLE="font-style: italic; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-style: italic; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><I>Amount
    of</I></FONT><br> <FONT STYLE="font-size: 10pt"><I>Commitment/</I></FONT><br> <FONT STYLE="font-size: 10pt"><I>Loans Assigned<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><SUP>6</SUP></B></FONT></I></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-style: italic">&nbsp;</TD><TD NOWRAP STYLE="font-style: italic; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-style: italic; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><I>Percentage Assigned of</I></FONT><br> <FONT STYLE="font-size: 10pt"><I>Commitment/Loans<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><SUP>7</SUP></B></FONT></I></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: right"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></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"><B>[7.</B></TD><TD STYLE="text-align: justify"><B>Trade Date: ____________________________________________&nbsp;]</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>8</SUP></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Page Break]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT></TD><TD STYLE="text-align: justify">Fill in the appropriate terminology for the types of facilities
under the Credit Agreement that are being assigned under this Assignment (<I>e.g. &ldquo;Revolving Credit Commitment,&rdquo; &ldquo;Term
Credit,&rdquo;</I> etc.)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT></TD><TD STYLE="text-align: justify">Amount to be adjusted by the counterparties to take into
account any payments or prepayments made between the Trade Date and the Effective Date.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>7</SUP></FONT></TD><TD STYLE="text-align: justify">Set forth, to at least 9 decimals, as a percentage of the
Commitment/Loans of all Lenders thereunder.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>8</SUP></FONT></TD><TD STYLE="text-align: justify">To be completed if the Assignor and the Assignee intend
that the minimum assignment amount is to be determined as of the Trade Date.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective Date: _____________ ___, 20___
<B>[To be inserted by Administrative Agent and which shall be the effective date of recordation of transfer in the register therefor.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The terms set forth
in this Assignment and Assumption are hereby agreed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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>&nbsp;</td>
    <td colspan="3"><font style="font-variant: small-caps">Assignor</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3"><font style="font-variant: small-caps"><b>[Name of Assignor]</b></font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <td colspan="2" style="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 6%">Name:</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3"><font style="font-variant: small-caps">Assignee</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3"><font style="font-variant: small-caps"><b>[Name of Assignee]</b></font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <td colspan="2" style="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Assignment and Assumption]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 COLSPAN="3">Consented to and Accepted:</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 9.35pt; text-indent: -9.35pt"><font style="font-variant: small-caps">Fifth Third Bank</font>, as&nbsp;Administrative Agent and L/C Issuer</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>By</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3"><B>[Consented to:]</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>9</SUP></FONT></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD COLSPAN="3"><b>[<font style="font-variant: small-caps">Name of Relevant Party</font>]</b></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>By</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></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: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>9</SUP></FONT></TD><TD>To be added only if the consent of the Borrower and/or other parties is required by the terms of the Credit Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Assignment and Assumption]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Annex 1</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Standard
Terms and Conditions for<BR>
Assignment and Assumption</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representations
and Warranties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.1.</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Assignor.</I>
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned
Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby
and (iv) it is <B>[not]</B> a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties
or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Parent, the Borrower or any of their Subsidiaries or Affiliates or any other Person obligated in respect of any
Loan Document or (iv) the performance or observance by the Parent, the Borrower or any of their Subsidiaries or Affiliates or any
other Person of any of their respective obligations under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assignee.</I> The
Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under the definition of &ldquo;Eligible Assignee&rdquo;
of the Credit Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as
a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is
sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the
Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such
type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies
of the most recent financial statements delivered pursuant to Section 6.1 thereof, as applicable, and such other documents and
information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and
to purchase the Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is not a United States person (as such term
is defined in Section 7701(a)(30) of the Code) attached to the Assignment and Assumption is any documentation required to be delivered
by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will,
independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of
the Loan Documents are required to be performed by it as a Lender.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From and after the
Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal,
interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to, on or after the Effective Date. The
Assignor and the Assignee shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to the
Effective Date or with respect to the making of this assignment directly between themselves. Notwithstanding the foregoing, the
Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective
Date to the Assignee.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General
Provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Assignment and
Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.
This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery
of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of
a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed
in accordance with, the law of the State of New York, without regard to conflicts of law provisions (other than Sections&nbsp;5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;G</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Additional
Guarantor Supplement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">To:</TD><TD STYLE="text-align: justify">Fifth Third Bank, as Administrative<BR>
Agent under, and the Lenders party to,<BR>
the Credit Agreement
described below</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Credit Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach
Holdings LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto,
the Lenders party thereto, and Fifth Third Bank, an Ohio banking corporation, as Administrative Agent and L/C Issuer (as amended,
restated, modified or supplemented from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>). Capitalized terms used herein
and not defined herein have the meanings assigned to them in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, <B>[Insert
Name of Guarantor]</B>, a(n) ________ ___________, hereby elects to be a <I>&ldquo;Guarantor&rdquo;</I> for all purposes of the
Credit Agreement, effective from the date hereof. The undersigned confirms that the representations and warranties set forth in
Section&nbsp;5 of the Credit Agreement are true and correct (or in the case of any representation or warranty not qualified as
to materiality, true and correct in all material respects) as to the undersigned to the extent applicable to it as of the date
hereof (unless such representations and warranties related to an earlier specified date, in which case they are true and correct
(or in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as
of such earlier date) and the undersigned shall comply with each of the covenants set forth in Section&nbsp;6 of the Credit Agreement
applicable to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Without limiting the
generality of the foregoing, the undersigned hereby agrees to perform all the obligations of a Guarantor under, and to be bound
in all respects by the terms of, the Credit Agreement, including without limitation Section&nbsp;11 thereof, to the same extent
and with the same force and effect as if the undersigned were a signatory party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned acknowledges
that this Additional Guarantor Supplement shall be effective upon its execution and delivery by the undersigned to the Administrative
Agent, and it shall not be necessary for the Administrative Agent, the L/C&nbsp;Issuer, or any Lender, or any of their Affiliates
entitled to the benefits hereof, to execute this Additional Guarantor Supplement or any other acceptance hereof. This Additional
Guarantor Supplement shall be construed in accordance with and governed by the laws of the State of New York, without regard to
conflicts of law provisions (other than Sections 5-1401 and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&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>&nbsp;</TD>
    <TD COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps"><B>[Insert Name of Guarantor]</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 38%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<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 COLSPAN="3">Acknowledged and Agreed</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, as Administrative Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 38%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</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-top: 0pt; text-align: center; margin-bottom: 0pt">[Signature Page to Additional Guarantor Supplement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit
H</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Borrowing Base Certificate<BR>
for Credit Agreement dated as of July 20, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -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">To:</TD><TD>Fifth Third Bank, as Administrative<BR>
Agent under, and the Lenders party to, the Credit<BR>
Agreement described below</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Borrowing Base
Certificate is furnished to the Administrative Agent (the <I>&ldquo;Administrative Agent&rdquo;</I>)<I> </I>and the Lenders pursuant
to that certain Credit Agreement dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility
Services LLC</FONT> (the &ldquo;Borrower&rdquo;), <FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT>, a Delaware
limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders party thereto, and
Fifth Third Bank, an Ohio banking corporation, as Administrative Agent and L/C Issuer (as amended, restated, modified or supplemented
from time to time, the <I>&ldquo;Credit Agreement&rdquo;</I>). Unless otherwise defined herein, the terms used in this Borrowing
Base Certificate and on any attachments to this Borrowing Base Certificate shall have the meanings ascribed thereto in the Credit
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The computations set
forth in this Borrowing Base Certificate and on any attachments to this Borrowing Base Certificate are, to the knowledge of the
undersigned, on behalf of the Borrowers, true, complete and correct as of the date of this Certificate and have been made in accordance
with the relevant sections of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">See
Attached Worksheet for Borrowing Base Calculation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Schedule&nbsp;I</FONT>
hereto sets forth the Schedule of Accounts evidencing the Accounts of each Loan Party, all of which data is, to the best of my
knowledge, true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Schedule
II</FONT> hereto sets forth the Schedule of Retainage evidencing in reasonable detail any and all outstanding Retainage, all of
which data is, to the best of my knoweldge, true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">In the event of a conflict
between the attached calculations and any certifications relating thereto and the Credit Agreement and related definitions used
in calculating the Borrowing Base, the Credit Agreement and such related definitions shall govern and control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Signature Page to Follow]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dated as of this ______
day of <FONT STYLE="font-variant: small-caps">_____________, 20___</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 38%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Name</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</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-top: 0pt; text-align: center; margin-bottom: 0pt">[Signature Page to Borrowing Base Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Borrowing Base Certificate
Worksheet<BR>
for Credit Agreement dated as of July 20,&nbsp;2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps">Dated
as of: __________, 20___</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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: 5%"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 65%"><FONT STYLE="font-size: 10pt">Beginning Accounts Receivable Balance (Line&nbsp;4 of Previous Report)</FONT></TD>
    <TD STYLE="width: 15%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Additions to Accounts Receivable:</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">a. Gross Billings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">b. Other Miscellaneous Debits</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">c. Total Additions (Line 2a <I>plus</I> Line 2b)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Deductions from Accounts Receivable:</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>a. Cash and Check Receipts</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>b. Discounts Allowed</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>c. Returns and Allowances</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>d. Bad Debts</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>e. Retainage</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>f. Total Deductions</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Ending Accounts Receivable Balance (Line&nbsp;1 <I>plus</I> Line&nbsp;2c <I>minus</I> Line 3f)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Ineligible Accounts Receivable from Summary Report </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Net Eligible Accounts Receivable (Line 4 <I>minus</I> Line&nbsp;5)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Available Collateral:</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">80% of Line 6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Deductions from Available Collateral:</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>a. Term Loan Reserve</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>b. Other reserves established by by the Administrative Agent (if any)</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">c. Total Deductions from Available Collateral (Line 8a <I>plus</I> Line 8b)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 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: 5%"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="width: 65%"><FONT STYLE="font-size: 10pt">Net Available Collateral (Line&nbsp;7 <I>minus</I> Line&nbsp;8c)</FONT></TD>
    <TD STYLE="text-align: center; width: 15%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Maximum Borrowing Limit (Less of Line 9 or Revolving Credit Commitments)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">11.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Revolving Liabilities:</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>a. Outstanding Revolving Loans</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>b. Outstanding Letters of Credit</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>c. Total Revolving Liabilities (Line 14a <I>plus</I> 14b)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Availability:&nbsp;&nbsp;Excess or (Deficiency) (Line&nbsp;10 <I>minus</I> Line&nbsp;11c)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$___________</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Aging Method (Circle One):</FONT><BR>
<FONT STYLE="font-size: 10pt">Invoice Date/Due Date</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Aging Method (Circle One):</FONT><BR>
<FONT STYLE="font-size: 10pt">Invoice Date/Due Date</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accounts Receivable</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accounts Receivable</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">1 &ndash; 30 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">1 &ndash; 30 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">31 &ndash; 60 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">31 &ndash; 60 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">61 &ndash; 90 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">61 &ndash; 90 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Over 120 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Over 120 Days</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Accounts Receivable</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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">OTHER INELIGIBLE RECEIVABLES SUMMARY REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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%">&nbsp;</TD>
    <TD STYLE="width: 66%; padding-right: 10pt"><FONT STYLE="font-size: 10pt">A/R Over 90&nbsp;Days from Invoice Date</FONT></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt"><FONT STYLE="font-size: 10pt">Related/Employee Accounts</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt"><FONT STYLE="font-size: 10pt">Foreign Accounts not Backed by L/C or Insurance</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Disputed Accounts and Accounts subject to Counterclaims or Setoff</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Impaired Accounts (as determined by the Administrative Agent in its Permitted Discretion)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts that are not valid, legally enforceable obligations of the Account Debtor</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts where the Account Debtor is the subject of bankruptcy, insolvency or similar proceedings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts subject to Account Debtor&rsquo;s approval or subject to a repurchase obligation or return right</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts arising out of sales not made in the ordinary course of business</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts for which the Account Debtor has returned 20% or more of the Inventory which gave rise to such Account</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts for which documents executed in connection therewith violate applicable law or make the representations or warranties of the Credit Agreement untrue or misleading</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts for which a Loan Party is or may become liable to the Account Debtor for goods sold or services rendered</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts for which chattel paper or an instrument has not been endorsed and/or assigned and delivered to Administrative Agent</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts that exceed the Account Debtors credit limit (if any)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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%">&nbsp;</TD>
    <TD STYLE="width: 66%; text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts for which a Loan Party retains possession and/or control of the goods sold for the account of, or subject to, further and/or future direction from the Account Debtor</FONT></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts located in a jurisdiction that requires the filing of a notice of business activities report or other required filing in order to enforce an Account Debtor&rsquo;s claims in such jurisdiction&rsquo;s courts, unless (i) such notice or other required filing has been filed or the applicable Loan Party is exempt from filing the report or (ii) the failure to make such filing may be cured retroactively by the Borrower for a nominal fee</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts arising out of a contract which forbids or makes the contract void or unenforceable if such account is assigned</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts subject to counterclaim, credit, trade or volume discount, allowance, discount, rebate or adjustment by the Account Debtor</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts in which the Administrative Agent does not have a valid and enforceable first priority perfected security interest (subject only to common law rights of the Bonding Company)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Accounts that are otherwise determined ineligible by the Administrative Agent in its Permitted Discretion</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Accounts owed by an Account Debtor to the extent 25% or more of the aggregate amount of
    outstanding Accounts owed by such Account Debtor with respect to a specific job or prospect are not Eligible Accounts solely
    because they are more than 90 days from the original invoice date<FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">
    </FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>10</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$______________</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 10pt"><FONT STYLE="font-size: 10pt">Total Ineligible Receivables (Add lines above and enter total on Line&nbsp;5 of Page&nbsp;1)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7pt"><FONT STYLE="font-size: 10pt">$______________</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps"><B>&nbsp;______________________________</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.4in"><SUP>10</SUP></TD><TD STYLE="text-align: justify">Prior to May 31, 2017, up to $2,000,000 of such Accounts, which are also not unpaid for more than
120 calendar days past the original invoice date may be included as Eligible Accounts if they would be otherwise eligible but for
this requirement. On and after May 31, 2017, all Accounts that do not satisfy the Additional Eligibility Condition will be ineligible.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Borrowing Base Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule
of Accounts</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Credit Agreement dated as of July 20, 2016</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[See attached.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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    <!-- Field: /Page -->

<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-variant: small-caps"><B>Schedule&nbsp;II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Borrowing Base Certificate</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule
of Retainage</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Credit Agreement dated as of July 20, 2016</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[See attached.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Commitments</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-variant: small-caps">Name of Lender</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Term Loan Commitment</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Revolving Credit<BR>
    Commitment</FONT></TD><TD NOWRAP><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; text-align: left">Fifth Third Bank</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 25%; text-align: right">7,346,938.78</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 25%; text-align: right">7,653,061.22</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">The PrivateBank and Trust Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,877,551.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,122,448.98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Wheaton Bank &amp; Trust Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,877,551.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,122,448.98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Citizens Bank of Pennsylvania</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,897,959.18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,102,040.82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-variant: small-caps">Total:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,000,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">25,000,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;1-A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Capital
Leases</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Lease Agreement (#100171), dated as of May 1, 2009, by and between Bud Behling Leasing, Inc., dba BBL Fleet and Limbach Facility
Services LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Agreement (No. 1138814), dated as of March 27, 2014, by and between GreatAmerica Financial Services Corporation and Limbach
Company LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;1-B</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>June
2016 EBITDA Calculations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-variant: small-caps">1.</FONT></TD><TD>Management Fees in an amount not to exceed $668,000.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;2.3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Existing
Letters of Credit</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-variant: small-caps">1.</FONT></TD><TD STYLE="text-align: justify">Letter of Credit issued by L/C Issuer to Arch Insurance for the Borrower&rsquo;s P &amp; C high deductible insurance program
in the amount of $3,390,000.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.5</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Litigation
and Other Controversies</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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">1.</TD><TD STYLE="text-align: justify"><U>Pennsylvania Department of General Services Project (SCI Fayette)</U>: This lawsuit was filed
by the Commonwealth of Pennsylvania (the &ldquo;<U>Commonwealth</U>&rdquo;) against Limbach Facility Services LLC (&ldquo;<U>LFS</U>&rdquo;)
for a construction project completed in the fall of 2002. LFS contracted with the Pennsylvania Department of General Services (&ldquo;<U>DGS</U>&rdquo;)
in 2001, to perform mechanical construction work at the State Correctional Institution in Fayette County, PA. In 2007, DGS discovered
leaks in the underground thermal pipe system supplied by LFS&rsquo; subcontractor, Thermacor Process LP (&ldquo;<U>Thermacor</U>&rdquo;);
however, LFS believes that it is not responsible for the leaks. DGS did not pursue the matter further until it filed and served
a complaint against LFS in September 2012, seeking in excess of $8,000,000 in damages. In late December 2012, LFS filed an answer
to the complaint and joined Thermacor, Allegheny Group (Thermacor&rsquo;s distributor) and the project engineer of record, L. Robert
Kimball and Associates, as defendants. Significant discovery has occurred during the ensuing three years. LFS submitted defense
of the suit to Arch Insurance and Travelers Insurance, and coverage was accepted under a reservation of rights by Travelers Insurance.
Trial is not anticipated until 2017, and the parties hope to submit to mediation in the fall of 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="font-variant: small-caps">2.</FONT></TD><TD STYLE="text-align: justify"><U>Wilshire Vermont Apartments Project</U>: This matter relates to LFS&rsquo; work as a subcontractor
to Taisei Construction for the Wilshire Vermont apartments project in 2004. On April 18, 2013, LFS was sued by the project owner
(the &ldquo;<U>Owner</U>&rdquo;) for alleged construction defects as part of a larger claim against the general contractor, the
design team and almost all subcontractors. LFS submitted defense of the suit to Arch Insurance and coverage was accepted under
a reservation of rights. The Owner alleges three defects in LFS&rsquo; work, seeking damages of approximately $900,000, with the
total suit claiming damages in of the approximate amount of $70,000,000. LFS has asserted defenses to each item, including that
liability may rest with a subcontractor or supplier that LFS has brought into the case. LFS&rsquo; expert also believes the total
value of the three items claimed by the Owner to be far less than claimed. All parties participated in mediation over three days,
commencing on July 27, 2015; however, no settlement was reached. LFS is working with the mediator to set up a meeting between the
Owner and LFS&rsquo; experts aimed at narrowing the issues and agreeing on the costs of repair, in hopes of allowing a settlement
to be reached when mediation resumes in 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Legacy
Claims</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the Credit Agreement, the claims described in
items #1 and #2 above are &ldquo;Legacy Claims&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.9</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>ERISA</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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>

<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: 0.25in">1.</TD><TD STYLE="text-align: justify"><U>Central States Pension Fund Matter</U>: In September 2014, Central States Pension Fund (&ldquo;<U>CSPF</U>&rdquo;)
issued to LFS a demand for payment of withdrawal liability stemming from allegations that LFS had completely withdrawn from CSPF
by virtue of ceasing to employ teamsters in the Company&rsquo;s Michigan branch (the &ldquo;<U>Central States Pension Fund Matter</U>&rdquo;).
CSPF assessed the amount of withdrawal liability to be $613,485. LFS disputed the amount of the assessment and filed arbitration
against CSPF on May 14, 2015. A settlement was reached in December 2015, and the parties entered into that certain Settlement Agreement
and Release, dated March 31, 2016, between Central States, Southeast and Southwest Areas Pension Fund and Limbach Company LLC.</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">(b)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Sheet Metal Workers Local 98 Pension Fund</TD></TR></TABLE>

<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: 0.25in">2.</TD><TD>Sheet Metal Workers' Pension Plan of Southern California, Arizona and Nevada</TD></TR></TABLE>

<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: 0.25in">3.</TD><TD>Heating, Piping and Refrigeration Pension Fund</TD></TR></TABLE>

<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: 0.25in">4.</TD><TD>Sheet Metal Workers' Local Union No. 80 Pension Fund</TD></TR></TABLE>

<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: 0.25in">5.</TD><TD>Steamfitters Local Union No. 420 Pension Plan</TD></TR></TABLE>

<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: 0.25in">6.</TD><TD>Plumbers and Pipefitters Local Union No. 333 Pension Plan</TD></TR></TABLE>

<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: 0.25in">7.</TD><TD>Pipefitters Local No. 636 Defined Benefit Pension Fund</TD></TR></TABLE>

<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: 0.25in">8.</TD><TD>Sheet Metal Workers&rsquo; National Pension Fund</TD></TR></TABLE>

<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: 0.25in">9.</TD><TD>Plumbers and Pipefitters National Pension Fund</TD></TR></TABLE>

<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: 0.25in">10.</TD><TD>Plumbers Local No. 98 Defined Benefit Pension Fund</TD></TR></TABLE>

<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: 0.25in">11.</TD><TD>Plumbers &amp; Steamfitters Local No. 577 Pension Plan</TD></TR></TABLE>

<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: 0.25in">12.</TD><TD>Flint Area Sheet Metal Workers Local Union No. 7, Zone 4 Pension Fund</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">(c)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">A &ldquo;Statement of Business Affairs&rdquo; was requested by from LFS in connection with the Central States Pension Fund
Matter.</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">(e)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.10</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Subsidiaries</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>List of Subsidiaries of each Loan Party:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></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: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Limbach Facility Services LLC is a wholly-owned Subsidiary of Limbach Holdings LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Harper Limbach Construction LLC, Harper Limbach LLC and Limbach Company LLC are wholly-owned Subsidiaries
of Limbach Facility Services LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Limbach Company LP is 99%-owned by Limbach Facility Services LLC and 1%-owned by Limbach Company
LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; text-align: center"><B>Subsidiary</B></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: center"><B>Jurisdiction of</B><BR>
<B>Organization</B></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; text-align: center"><B>Holder(s)</B></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center"><B>Percentage of</B><BR>
<B>Subsidiary&rsquo;s Equity</B><BR>
<B>Interests Held</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Limbach Facility Services LLC</TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>Limbach Holdings LLC</TD>
    <TD>&nbsp;</TD>
    <TD>10 Units (100% membership interest)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Harper Limbach Construction LLC</TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>Limbach Facility Services LLC</TD>
    <TD>&nbsp;</TD>
    <TD>10 Units (100% membership interest)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Harper Limbach LLC</TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>Limbach Facility Services LLC</TD>
    <TD>&nbsp;</TD>
    <TD>10 Units (100% membership interest)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2">Limbach Company LP</TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2">Delaware</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Limbach Facility Services LLC</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>99% partnership interest</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD>1% partnership interest</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>Limbach Facility Services LLC</TD>
    <TD>&nbsp;</TD>
    <TD>10 Units (100% membership interest)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.16</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Labor
Relations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">None</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify"><B><U>Collective Bargaining Agreements</U>:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">1.</TD><TD STYLE="text-align: justify">Agreement, dated July 1, 2010, between SMACNA of Western Pennsylvania Sheet Metal, Roofing, Ventilation
and Air Conditioning Contracting Divisions of the Construction Industry and Sheet Metal Workers Local 12.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">2.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2012, between The Sheet Metal Workers of Central Ohio and Sheet Metal
Workers Local Union No. 24.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">3.</TD><TD STYLE="text-align: justify">Construction Agreement, dated June 1, 2009, between SMACNA Metropolitan Detroit Chapter and Sheet
Metal Workers&rsquo; International Association Local Union No. 80.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">4.</TD><TD STYLE="text-align: justify">Collective Bargaining Agreement, dated January 1, 2011, between Sheet Metal Air Conditioning Contractors&rsquo;
National Association (SMACNA Los Angeles and Orange Empire SMACNA) and Sheet Metal Workers&rsquo; International Association Local
Union 105.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">5.</TD><TD STYLE="text-align: justify">Construction Agreement, dated June 1, 2013, between SMACNA Metropolitan Detroit Chapter and Sheet
Metal Air Rail Transportation International Association (SMART) Local Union No. 80.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">6.</TD><TD STYLE="text-align: justify">Agreement, dated June 2, 2014, between Mechanical Contractors Association of Detroit, Inc. and
Journeymen Plumbers Local No. 98 of Detroit, Michigan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">7.</TD><TD STYLE="text-align: justify">Joint Agreement, dated September 1, 2013, between New England Mechanical Contractors Association
Incorporation and Local Union 537 of The United Association of Pipefitters and Apprentices of Boston and Vicinity of The Plumbing
and Pipe Fitting Industry in the United States, Canada and Australia &ndash; AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">8.</TD><TD STYLE="text-align: justify">Joint Agreement, dated September 1, 2013, between NEMCA/Air-Conditioning and Refrigeration Contractors
of BOSTON, Inc. and Local Union 537 of The United Association of Pipefitters and Apprentices of Boston and Vicinity of The Plumbing
and Pipe Fitting Industry in the United States, Canada and Australia &ndash; AFLI-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">9.</TD><TD STYLE="text-align: justify">Agreement, dated September 1, 2014, between Mechanical Contractors Association of Metropolitan
Washington, DC and Baltimore/Washington Construction &amp; Public Employees Laborers&rsquo; District Council, LIUNA, Local 657
and Local 11.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">10.</TD><TD STYLE="text-align: justify">Inside Wireman Agreement, dated June 1, 2015, between Washington, D.C. Chapter National Electrical
Contractors Association and Local Union No. 26, International Brotherhood of Electrical Workers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">11.</TD><TD STYLE="text-align: justify">Residential Agreement, dated June 1, 2015, by Washington, D.C. Chapter National Electrical Contractors
Association and Local Union No. 26, International Brotherhood of Electrical Workers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">12.</TD><TD STYLE="text-align: justify">Service Master Labor Agreement, dated September 1, 2015, between The Airconditioning, Refrigeration
and Mechanical Contractors Association of Southern California (ARCA/MCA) and The Southern California Pipe Trades District Council
16 (DC 16).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">13.</TD><TD STYLE="text-align: justify">Joint Agreement, dated June 1, 2015, between The Mechanical Contractors Association of Southeastern
Ohio and The United Association of Journeyman &amp; Apprentices of the Plumbing and Pipefitting Industry Local No. 577.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">14.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2014, between Local Union No. 24 I.B.E.W. and Baltimore Division, Maryland
Chapter, National Electrical Contractors Association, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">15.</TD><TD STYLE="text-align: justify">Collective Bargaining Agreement, dated July 1, 2013, between Local Union No. 9 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of The United States and Canada, AFL-CIO and Mechanical
Contractors Association of New Jersey, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">16.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2014, between South Jersey Mechanical Contractors Association, Inc. and
LOCAL 322 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States
and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">17.</TD><TD STYLE="text-align: justify">Basic Construction Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">18.</TD><TD STYLE="text-align: justify">Supplemental Service Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">19.</TD><TD STYLE="text-align: justify">Speculative Agreement &ldquo;B&rdquo;, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">20.</TD><TD STYLE="text-align: justify">Core Drilling Agreement, dated August 1, 2014, between Mechanical Contractors Association of Metropolitan
Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe
Fitting Industry of the United States and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">21.</TD><TD STYLE="text-align: justify">Ground Penetrating Radar Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">22.</TD><TD STYLE="text-align: justify">Building Construction Agreement, dated October 21, 2013, between the Mechanical Contractors Association
of Metropolitan Washington, Inc. and Local Union No. 602 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipefitting Industry of the United States and Canada (AFL-CIO).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">23.</TD><TD STYLE="text-align: justify">Supplemental Service Agreement, dated October 21, 2013, between the Mechanical Contractors Association
of Metropolitan Washington, Inc. and Local Union No. 602 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipefitting Industry of the United States and Canada (AFL-CIO).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">24.</TD><TD STYLE="text-align: justify">Agreement, dated July 1, 2013, between Sheet Metal and Air Conditioning Contractors&rsquo; National
Association of Western Pennsylvania and Local Union No. 12 of International Association of Sheet Metal, Air, Rail and Transportation
Workers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">25.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between the Mechanical Contractors Association of Western Pennsylvania,
Inc. and Plumbers Local Union No. 27 of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry
of the United States and Canada.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">26.</TD><TD STYLE="text-align: justify">Inside Agreement, dated July 1, 2015, between Western Maryland Division, Maryland Chapter, National
Electric Contractors Association and Local Union No. 307, IBEW.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">27.</TD><TD STYLE="text-align: justify">Articles of Agreement, dated June 1, 2015, between Local Union No. 354 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada, AFL-CIO and Laurel Mechanical
Contractors Association, Inc. and Independent Contractors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">28.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2014, between Mechanical Contractors Association of Eastern Pennsylvania,
Inc. and Local Union No. 420 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry
of the United States and Canada.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">29.</TD><TD STYLE="text-align: justify">Agreement, dated May 15, 2014, between Steamfitters Local Union No. 420 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada and Servicing Contractors
Association of Greater Delaware Valley, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">30.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between The Mechanical Contractors Association of Western Pennsylvania,
Inc. and The United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and
Canada, Local Union No. 449.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">31.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2013, between Mechanical Contractors Association of Eastern Pennsylvania,
Inc. and Plumbers Local Union No. 690 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting
Industry of the United States and Canada Covering Philadelphia, Bucks, Chester, Delaware and Montgomery Counties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">32.</TD><TD STYLE="text-align: justify">National Service and Maintenance Agreement, dated August 1, 2015, between United Association of
Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada, AFL-CIO and Mechanical Service
Contractors of America.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">33.</TD><TD STYLE="text-align: justify">Construction Labor Agreement, dated November 19, 2012, between Mechanical Contractors Association
of Detroit, Inc. and Pipefitters, Steamfitters, Refrigeration, and Air Conditioning Service Local Union No. 636 of Metropolitan
Detroit Area, Michigan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">34.</TD><TD STYLE="text-align: justify">Master Agreement for the Plumbing and Piping Industry of Southern California, dated July 1, 2014,
between California Plumbing and Mechanical Contractors Association and Southern California Pipe Trades District Council No. 16
of the United Association.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">35.</TD><TD STYLE="text-align: justify">Participation Agreement, dated November 11, 2015, between Limbach Co LLC and United Association
of Plumbers &amp; Pipefitters Local Union #162.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">36.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between Sheet Metal Contractors Association of Central Ohio and
Local Union #24 of International Association of Sheet Metal, Air, Rail and Transportation Workers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">37.</TD><TD STYLE="text-align: justify">Master Agreement, dated May 1, 2013, between Mechanical Contractors Association of Maryland, Inc.
and Plumbers and Steamfitters U.A. Local 486 of Baltimore, Maryland.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -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">38.</TD><TD STYLE="text-align: justify">Service &amp; Maintenance Agreement, dated May 1, 2013, between The Mechanical Contractors Association
of Maryland, Inc. and Plumbers &amp; Steamfitters U.A. Local 486 of Baltimore, Maryland.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="font-variant: small-caps">39.</FONT></TD><TD STYLE="text-align: justify">Marketing Agreement, dated May 1, 2013, between The Mechanical Contractors Association of Maryland,
Inc. and Plumbers and Steamfitters U.A. Local 486 of Baltimore, Maryland.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;5.25</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Material
Agreements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">Agreement of Limited Partnership of Limbach Company LP (f/k/a Western Air Limbach LP), dated December
13, 2002, as amended by that certain Amendment No. 1 to Agreement of Limited Partnership, dated July 13, 2007, and as further amended
by that certain Amendment No. 2 to Agreement of Limited Partnership, dated June 16, 2011.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">2.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated August 2012, between Limbach Company LLC and Sauer Group, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">3.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated September 17, 2010, among Limbach Company LLC, Coleman Spohn Corporation
and Sauer Group, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">4.</TD><TD STYLE="text-align: justify">Operating Agreement of HMPC, A Joint Venture, dated September 17, 2010, between Limbach Company
LLC, Coleman Spohn Corporation and Sauer Group, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">5.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 1, 2015, between Limbach Company LLC and Dunbar Mechanical
Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">6.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated November 3, 2014, between Limbach Company LLC and Gunthorpe Plumbing
&amp; Heating, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">7.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated April 20, 2015, between Limbach Company LLC and Gunthrope Plumbing
&amp; Heating, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">8.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 19, 2015, between Limbach Company LLC and Gunthrope Plumbing
&amp; Heating, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">9.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated December 1, 2015, between Limbach Company LLC and Watson Bros. Service
Company Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">10.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated June 31, 2012, between Limbach Company LLC and Professional Mechanical
Sales and Services, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">11.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 8, 2015, between Limbach Company LLC and Professional MSL
Mechanical Contractors, LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">12.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated February 16, 2012, between Limbach Company LLC and Professional
MSL Mechanical Contractors, LLC (Detroit Building Authority &ndash; Public Safety Headquarters Project).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">13.</TD><TD STYLE="text-align: justify">Operating Agreement of MSL Limbach, dated October 7, 2011, between Limbach Company LLC and MSL
Mechanical Contractors, LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">14.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated February 16, 2012, between Limbach Company LLC and MSL Mechanical
Contractors, LLC (5 West/6 West Nursing Unit Renovations Project).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">15.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated November 15, 2012, between Limbach Company LLC and MSL Mechanical
Contractors, LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">16.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated December 22, 2014, between Limbach Company LLC and MSL Mechanical
Contractors, LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">17.</TD><TD STYLE="text-align: justify">Planned Maintenance Service Agreement, dated September 23, 2014, between HMPC and The Ohio State
University Medical Center.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">18.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated undated, between Limbach Company LLC and Rieck Services.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">Commercial Lease Agreement, dated September 9, 2011, between Harper Limbach LLC, as Tenant, and
Eagle Creek 5 &amp; 6, LLC, as Landlord, as amended by the Addendum, dated September 9, 2014, for the real property commonly known
as 9051 Florida Mining Boulevard, Suite 103/104, Tampa, Florida.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">2.</TD><TD STYLE="text-align: justify">Commercial Lease Agreement, dated November 18, 2009, between Limbach Company LLC, as Tenant, and
Jackson-Shaw / Brickyard Limited Partnership, LP, as Landlord, for the real property commonly known as 13261 Mid-Atlantic Boulevard,
Laurel, Maryland (Building E).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">3.</TD><TD STYLE="text-align: justify">Lease Agreement, dated May 20, 2010, between Limbach Company LLC, as Tenant, and LIT-CHRIS/RIDGE,
L.L.C., as Landlord, as amended by the First Amendment, dated June 1, 2013, and the Second Amendment, dated May 12, 2015, for the
real property commonly known as 5C Chris Court, South Brunswick, New Jersey.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">4.</TD><TD STYLE="text-align: justify">General Indemnity Agreement, dated March 30, 2010, made by Harper Limbach LLC, Limbach Company
LP f/k/a Western Air Limbach LP, Limbach Facility Services LLC, Limbach Company LLC, collectively as Principal/Indemnitor, Limbach
Management Holding Company, LLC, Limbach Holdings LLC and F<I>d</I>G HVAC LLC, collectively as Indemnitor, in favor of Arch Insurance
Company, as Surety.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">5.</TD><TD STYLE="text-align: justify">General Indemnity Agreement, dated March 11, 2016, made by MSL Limbach JV V, MSL Mechanical Contractors,
LLC and Limbach Company LLC, as Indemnitors, in favor of Arch Insurance Company, Arch Reinsurance Company and any future or present
subsidiary or affiliate of Arch Insurance Company, as Surety.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">6.</TD><TD STYLE="text-align: justify">General Agreement of Indemnity, dated July 12, 2016, made by Harper Limbach LLC, Limbach Facility
Services LLC, Limbach Company LLC, Limbach Holdings LLC, Limbach Company LP, Harper Limbach Construction LLC, as Indemnitors, in
favor of Travelers Casualty and Surety Company of America.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(f)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">RCH Bed Tower Expansion &amp; Renovation, dated June 17,&nbsp;2014, between Skanska USA Building
Inc. and Limbach Company LP.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">2.</TD><TD STYLE="text-align: justify">Detroit Entertainment &amp; Events Center, dated October 21, 2015, between Barton Malow/Hunt, a
Joint Venture, in Association with White Construction and MSL Limbach JV V.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">3.</TD><TD STYLE="text-align: justify">Boston Medical Center &ndash; Menino Addition and Renovation, dated March 11, 2014, between Suffolk
Construction Co., Inc. and Limbach Company LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">4.</TD><TD STYLE="text-align: justify">Washington Metropolitan Area Transit Authority Rehabilitation of Rail Yard Facilities (Yard-1),
Dated September 18, 2013, between Potomac Construction Company, Inc. and Limbach Company LLC. &nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(h)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(i)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">Agreement and Plan of Merger, dated March 23, 2016, by and among Limbach Holdings LLC, 1347 Capital
Corp. and F<I>d</I>G HVAC LLC, solely in its capacity as the Limbach Holders&rsquo; Representative.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;6.28</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Post-Closing
Matters</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Loan Parties
shall use commercially reasonable efforts to obtain within ninety (90) days after the Closing Date (which date may be extended
by the Administrative Agent in its sole discretion), Collateral Access Agreements in form and substance satisfactory to the Administrative
Agent for each leased location set forth in Schedule A to the Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Within one hundred
eighty (180) days after the Closing Date (which date may be extended by the Administrative Agent in its sole discretion), the Loan
Parties shall have delivered to the Administrative Agent, each in form and substance acceptable to the Administrative Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Mortgage for the real property located at 926 Featherstone Road, Pontiac, Michigan 58342 (the <I>&ldquo;Michigan Property&rdquo;</I>
and such Mortgage, the <I>&ldquo;Michigan Mortgage&rdquo;</I>) duly executed by Limbach Company LLC, together with a related fixture
financing statement to be filed with the Oakland County, Michigan recorder&rsquo;s office, listing Limbach Company LLC, as debtor,
and the Administrative Agent, as secured party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
mortgagee&rsquo;s title insurance policy (or binding commitment therefor) in an aggregate amount acceptable to the Administrative
Agent insuring the Lien of the Michigan Mortgage to be a valid first priority Lien subject to no defects or objections that are
not acceptable to the Administrative Agent, together with such endorsements as the Administrative Agent may require;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
survey prepared by a licensed surveyor on the Michigan Property, which survey shall also state whether or not any portion of such
real property is in a federally designated flood hazard area;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reports
of an independent firm of environmental engineers acceptable to the Administrative Agent with respect to environmental conditions
at or affecting the Michigan Property, together with a reliance letter thereon in favor of the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
appraisal report prepared for the Administrative Agent by a state certified appraiser selected by the Administrative Agent, which
appraisal report describes the fair market value of the Michigan Property and otherwise meets the requirements of applicable law
for appraisals prepared for federally insured depository institutions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
flood determination report for the Michigan Property prepared for the Administrative Agent by a flood determination company selected
by the Administrative Agent stating whether or not any portion of such property is in a federally designated flood hazard area,
and, if any improvements thereon are in a federally designated flood hazard area, evidence of the maintenance of flood insurance
as may be required by applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
favorable written opinion of local Michigan counsel to Limbach Company&nbsp;LLC regarding the Michigan Mortgage and fixture financing
statement for the Michigan Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Harper Limbach
LLC does not sell the Florida Property within one hundred eighty (180) days after the Closing Date (which date may be extended
by the Administrative Agent in its sole discretion), then Harper Limbach LLC shall, within three hundred sixty (360) days after
the Closing Date (which date may be extended by the Administrative Agent in its sole discretion), deliver to the Administrative
Agent, each in form and substance acceptable to the Administrative Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Mortgage for the Florida Property (the &ldquo;<I>Florida Mortgage</I>&rdquo;) securing indebtedness in an amount equal to $2,000,000,
duly executed by Harper Limbach LLC, together with a related fixture financing statement to be filed with the Seminole County,
Florida recorder&rsquo;s office, listing Harper Limbach LLC, as debtor, and the Administrative Agent, as secured party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
mortgagee&rsquo;s title insurance policy (or binding commitment therefor) in an aggregate amount acceptable to the Administrative
Agent insuring the Lien of the Florida Mortgage to be a valid first priority Lien subject to no defects or objections that are
not acceptable to the Administrative Agent, together with such endorsements as the Administrative Agent may require;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
survey prepared by a licensed surveyor on the Florida Property, which survey shall also state whether or not any portion of such
real property is in a federally designated flood hazard area;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reports
of an independent firm of environmental engineers acceptable to the Administrative Agent with respect to environmental conditions
at or affecting the Florida Property, together with a reliance letter thereon in favor of the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
appraisal report prepared for the Administrative Agent by a state certified appraiser selected by the Administrative Agent, which
appraisal report describes the fair market value of the Florida Property and otherwise meets the requirements of applicable law
for appraisals prepared for federally insured depository institutions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
flood determination report for the Florida Property prepared for the Administrative Agent by a flood determination company selected
by the Administrative Agent stating whether or not any portion of such property is in a federally designated flood hazard area,
and, if any improvements thereon are in a federally designated flood hazard area, evidence of the maintenance of flood insurance
as may be required by applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
favorable written opinion of local Florida counsel to Harper Limbach&nbsp;LLC regarding the Florida Mortgage and fixture financing
statement for the Florida Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the avoidance of doubt, if Harper Limbach
LLC sells the Florida Property, the proceeds shall be used and applied as required by Section 2.8(b) of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>v444860_ex10-4.htm
<DESCRIPTION>SECURITY AGREEMENT, DATED AS OF JULY 20, 2016, BY AND AMONG LIMBACH FACILITY SERVICES LLC, THE COMPANY, THE OTHER DEBTORS PARTY THERETO AND FIFTH THIRD BANK
<TEXT>
<HTML>
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<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Security Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Security Agreement
(this&nbsp;<I>&ldquo;Agreement&rdquo;</I>) is dated as of July 20, 2016, by and among Limbach Facility Services LLC, a Delaware
limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), Limbach Holdings LLC, a Delaware limited liability company (the
<I>&ldquo;Parent&rdquo;</I>), and the other parties executing this Agreement under the heading <I>&ldquo;Debtors&rdquo;</I> (each
of the Borrower, the Parent and such other parties, along with any parties who execute and deliver to the Administrative Agent
an agreement substantially in the form attached hereto as Schedule&nbsp;G, being hereinafter referred to collectively as the <I>&ldquo;Debtors&rdquo;</I>
and individually as a <I>&ldquo;Debtor&rdquo;</I>), each with its mailing address as set forth in Section&nbsp;14(b) below, and
Fifth Third Bank, an Ohio banking corporation (<I>&ldquo;Fifth Third&rdquo;</I>), with its mailing address as set forth in Section&nbsp;14(b)
below, acting as administrative agent hereunder for the Secured Creditors hereinafter identified and defined (Fifth Third acting
as such administrative agent and any successor or successors to Fifth<I> </I>Third acting in such capacity being hereinafter referred
to as the <I>&ldquo;Administrative Agent&rdquo;</I>).</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Preliminary Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Borrower, the Parent, the other Debtors,<B> </B>and Fifth Third, individually and as Administrative Agent, have entered into that
certain Credit Agreement dated as of July 20, 2016 (as amended, restated, modified or supplemented from time to time, the <I>&ldquo;Credit
Agreement&rdquo;</I>), pursuant to which Fifth Third and any other banks, financial institutions and other lenders from time to
time party to the Credit Agreement (Fifth Third, in its individual capacity, and as L/C Issuer (as such term is defined in the
Credit Agreement) and such other banks, financial institutions and other lenders being hereinafter referred to collectively as
the <I>&ldquo;Lenders&rdquo;</I> and individually as a <I>&ldquo;Lender&rdquo;</I>) have agreed, subject to certain terms and
conditions, to extend credit and make certain other financial accommodations available to the Borrower (the Administrative Agent
and the Lenders, together with any Affiliates of the Lenders with respect to Hedging Liability and Bank Product Liability, as
such terms are defined in the Credit Agreement, being hereinafter referred to collectively as the <I>&ldquo;Secured Creditors&rdquo;
</I>and individually as a <I>&ldquo;Secured Creditor&rdquo;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, one or more of the Debtors may from time to time be liable to one or more of the Secured Creditors with respect to Hedging
Liability and/or Bank Product Liability (as such terms are defined in the Credit Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
a condition to extending credit to the Borrower under the Credit Agreement, the Secured Creditors have required, among other things,
that each Debtor grant to the Administrative Agent for the benefit of the Secured Creditors a Lien on and security interest in
the personal property and fixtures of such Debtor described herein subject to the terms and conditions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Parent owns the Borrower, and the Borrower owns, directly or indirectly, Ownership Interests in each other Debtor, and the Parent
and the Borrower provide each of the other Debtors with financial, management, administrative, and technical support which enables
such Debtors to conduct their businesses in an orderly and efficient manner in the ordinary course.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor will benefit, directly or indirectly, from credit and other financial accommodations extended by the Secured Creditors to
the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now</FONT>,
<FONT STYLE="font-variant: small-caps">Therefore</FONT>, for good and valuable consideration, receipt whereof is hereby acknowledged,
the parties hereto hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terms
defined in Credit Agreement.</I> Except as provided in Section&nbsp;2, all capitalized terms used herein without definition shall
have the same meanings herein as such terms have in the Credit Agreement. The term &ldquo;Debtor&rdquo; and &ldquo;Debtors&rdquo;
as used herein shall mean and include the Debtors collectively and also each individually, with all grants, representations, warranties,
and covenants of and by the Debtors, or any of them, herein contained to constitute joint and several grants, representations,
warranties, and covenants of and by the Debtors; <I>provided, however,</I> that unless the context in which the same is used shall
otherwise require, any grant, representation, warranty or covenant contained herein related to the Collateral shall be made by
each Debtor only with respect to the Collateral owned by it or represented by such Debtor as owned by it. Whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words &ldquo;include,&rdquo;
&ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation.&rdquo;
The word &ldquo;will&rdquo; shall be construed to have the same meaning and effect as the word &ldquo;shall.&rdquo; Unless the
context requires otherwise (a)&nbsp;any definition of or reference to any agreement, instrument or other document herein shall
be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b)&nbsp;any reference
herein to any Person shall be construed to include such Person&rsquo;s successors and assigns, (c)&nbsp;the words &ldquo;herein,&rdquo;
&ldquo;hereof&rdquo; and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d)&nbsp;all references herein to Sections, Exhibits and Schedules shall
be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, and (e)&nbsp;any reference to any law or regulation
herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time,
and any successor of such law or regulation. References &ldquo;from&rdquo; or &ldquo;through&rdquo; any date mean, unless otherwise
specified, &ldquo;from and including&rdquo; or &ldquo;through and including&rdquo;, respectively. Unless otherwise specified herein,
the settlement of all payments and fundings hereunder between or among the parties hereto shall be made in lawful money of the
United States of America and in immediately available funds. All amounts used for purposes of financial calculations required to
be made herein shall be without duplication. References to any statute or act, without additional reference, shall be deemed to
refer to federal statutes and acts of the United States of America. All terms which are used in this Agreement which are defined
in the Uniform Commercial Code of the State of New York as in effect from time to time (<I>&ldquo;UCC&rdquo;</I>) shall have the
same meanings herein as such terms are defined in the UCC, unless this Agreement shall otherwise specifically provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grant
of Security Interest in the Collateral. </I>As collateral security for the Secured Obligations defined below, each Debtor hereby
grants to the Administrative Agent for the benefit of the Secured Creditors a Lien on and security interest in, and right of set-off
against<I>,</I> and acknowledges and agrees that the Administrative Agent has and shall continue to have for the benefit of the
Secured Creditors a continuing Lien on and security interest in, and right of set-off against, all right, title, and interest of
each Debtor, whether now owned or existing or hereafter created, acquired or arising, in and to all of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chattel
Paper;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Instruments
(including Promissory Notes);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General
Intangibles (including Payment Intangibles and Software, patents, trademarks, tradestyles, copyrights, and all other intellectual
property rights, including all applications, registration, and licenses therefor, and all goodwill of the business connected therewith
or represented thereby);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Letter-of-Credit
Rights;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supporting
Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit
Accounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
Property (including certificated and uncertificated Securities, Securities Accounts, Security Entitlements, Commodity Accounts,
and Commodity Contracts);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment
(including all software, whether or not the same constitutes embedded software, used in the operation thereof);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixtures;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial
Tort Claims (as described on Schedule&nbsp;F or on one or more supplements to this Agreement);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights
to merchandise and other Goods (including rights to returned or repossessed Goods and rights of stoppage in transit) which is represented
by, arises from, or relates to any of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monies,
personal property, and interests in personal property of such Debtor of any kind or description now held by any Secured Creditor
or at any time hereafter transferred or delivered to, or coming into the possession, custody or control of, any Secured Creditor,
or any agent or affiliate of any Secured Creditor, whether expressly as collateral security or for any other purpose (whether for
safekeeping, custody, collection or otherwise), and all dividends and distributions on or other rights in connection with any such
property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supporting
evidence and documents relating to any of the above-described property, including computer programs, disks, tapes and related electronic
data processing media, and all rights of such Debtor to retrieve the same from third parties, written applications, credit information,
account cards, payment records, correspondence, delivery and installation certificates, invoice copies, delivery receipts, notes
and other evidences of indebtedness, insurance certificates and the like, together with all books of account, ledgers, and cabinets
in which the same are reflected or maintained;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accessions
and additions to, and substitutions and replacements of, any and all of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds
and products of the foregoing, and all insurance of the foregoing and proceeds thereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
other assets of such Debtor to the extent not otherwise included above;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">all of the foregoing being herein sometimes
referred to as the <I>&ldquo;Collateral</I>.<I>&rdquo;</I> Notwithstanding the foregoing, the security interest granted hereunder
shall not extend to, and the term &ldquo;Collateral&rdquo; shall not include, any Excluded Property. For purposes of this Agreement,
(a)&nbsp;<I>&ldquo;Receivables&rdquo;</I> means all rights to the payment of a monetary obligation, whether or not earned by performance,
and whether evidenced by an Account, Chattel Paper, Instrument, General Intangible, or otherwise (other than pledged Ownership
Interests) and (b) <I>&ldquo;Subsidiary Interests&rdquo;</I> means all Ownership Interests held by a Debtor in its Subsidiaries,
whether such Ownership Interests constitute Investment Property or General Intangibles under the UCC, it being acknowledged and
agreed that all Receivables and Subsidiary Interests constitute Collateral hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured
Obligations.</I> This Agreement is made and given to secure, and shall secure, the prompt payment and performance of (a)&nbsp;all
&ldquo;Secured Obligations,&rdquo; as such term is defined in the Credit Agreement, in each case whether now existing or hereafter
arising (and whether arising before or after the filing of a petition in bankruptcy and including all interest, costs, fees, and
charges after the entry of an order for relief against a Debtor in a case under Title&nbsp;11 of the United States Bankruptcy Code
or any similar proceeding, whether or not such interest, costs, fees and charges would be an allowed claim against such Debtor
in such proceeding), due or to become due, direct or indirect, absolute or contingent, and howsoever evidenced, held or acquired
and (b)&nbsp;any and all expenses and charges, legal or otherwise, suffered or incurred by the Secured Creditors, and any of them
individually, in collecting or enforcing any of such indebtedness, obligations, and liabilities or in realizing on or protecting
or preserving any security therefor, including the lien and security interest granted hereby (all of the indebtedness, obligations,
liabilities, expenses, and charges set forth in this Section 3 being hereinafter referred to as the <I>&ldquo;Secured Obligations&rdquo;</I>).
Notwithstanding anything in this Agreement to the contrary, the right of recovery against any Debtor under this Agreement (other
than the Borrower to which this limitation shall not apply) shall not exceed $1.00 less than the lowest amount that would render
such Debtor&rsquo;s obligations under this Agreement void or voidable under applicable law, including fraudulent conveyance law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covenants,
Agreements, Representations and Warranties.</I> (a) Each Debtor hereby represents and warrants to the Secured Creditors that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor is duly organized and validly existing in good standing under the laws of the jurisdiction of its organization. Each Debtor
is the sole and lawful owner of its Collateral, and has full right, power, and authority to enter into this Agreement and to perform
each and all of the matters and things herein provided for. The execution and delivery of this Agreement, and the observance and
performance of each of the matters and things herein set forth, will not (i)&nbsp;contravene or constitute a default under any
provision of law or any judgment, injunction, order or decree binding upon any Debtor or any provision of any Debtor&rsquo;s Organization
Documents or any covenant, indenture or agreement of or affecting any Debtor or any of its property or (ii)&nbsp;result in the
creation or imposition of any lien or encumbrance on any property of any Debtor except for the Lien and security interest granted
to the Administrative Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor&rsquo;s respective chief executive office is at the location listed under Column&nbsp;2 on Schedule&nbsp;A opposite such
Debtor&rsquo;s name; and such Debtor has no other executive offices or places of business other than those listed under Column&nbsp;3
on Schedule A opposite such Debtor&rsquo;s name. The Collateral is and shall remain in such Debtor&rsquo;s possession or control
at (x) the locations listed under Columns&nbsp;2 and 3 on Schedule&nbsp;A opposite such Debtor&rsquo;s name or (y) such additional
locations identified pursuant to Section 4(b)(i) (collectively for each Debtor, the <I>&ldquo;Permitted Collateral Locations&rdquo;</I>),
except for (A) Collateral which in the ordinary course of the Debtor&rsquo;s business is in transit between Permitted Collateral
Locations or (B) Collateral which in the ordinary course of the Debtor&rsquo;s business is in use at a temporary job site.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor&rsquo;s legal name, jurisdiction of organization and organizational number (if any) are correctly set forth under Column&nbsp;1
on Schedule&nbsp;A. No Debtor has transacted business at any time during the immediately preceding five-year period, and does not
currently transact business, under any other legal names or trade names other than the prior legal names and trade names (if any)
set forth on Schedule&nbsp;B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Collateral and every part thereof is free and clear of all Liens except for Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;C
contains a true, complete, and current listing of all patents, trademarks, tradestyles, copyrights, and other intellectual property
rights (including all registrations and applications therefor) owned by each of the Debtors as of the date hereof that are registered
with any Governmental Authority. Except for revocations or terminations of registered intellectual property that may occur in the
ordinary course of business or as otherwise permitted by the Credit Agreement, and subject to such Debtor&rsquo;s reasonable business
judgment, no event has occurred which permits, or after notice or lapse of time or both would permit, the revocation or termination
of any such rights, and the Debtors are not liable to any person for infringement under applicable law with respect to any such
rights as a result of its business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;F
contains a true, complete and current listing of all Commercial Tort Claims with an aggregate value in excess of $250,000 held
by the Debtors as of the date hereof, each described by referring to a specific incident giving rise to the claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
in the ordinary course of business, which in no event shall make the Schedule of Retainage materially misleading, and to the best
of each Debtor&rsquo;s knowledge, (A) the amounts shown on the Schedule of Retainage are and will be actually and absolutely owing
to the Debtors or their Subsidiaries; (B) there are no set-offs, counterclaims or disputes existing or asserted with respect to
any Retainage included on any Schedule of Retainage when scheduled (except to the extent reflected thereon) and each Debtor or
its applicable Subsidiary has not made any agreement with any Retainage debtor for any deduction from such Retainage; and (C)
there are no reserves against the collection of Retainage not set forth in the applicable Schedule of Retainage or the financial
statements delivered pursuant to Sections 6.1(a), (b) and (i) of the Credit Agreement and there are no facts, events or occurrences
which in any way impair the validity or collectability of Retainage or tend to reduce the amount payable thereunder from the amount
of the invoice shown on any Schedule of Retainage when scheduled, and on all contracts, invoices and statements delivered to the
Administrative Agent with respect thereto; <I>provided</I> that, in the event knowledge is acquired by any Debtor after the delivery
of such Schedule of Retainage which would cause the representations in (A), (B) or (C) of this Section 4.1(a)(vii) to be inaccurate,
the Debtors have promptly delivered to the Administrative Agent a corrected Schedule of Retainage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor hereby covenants and agrees with the Secured Creditors that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Debtor shall move its chief executive office or maintain a place of business at a location other than those specified under Columns&nbsp;2
or 3 on Schedule A without first providing the Administrative Agent at least thirty (30) days (or such shorter time period as may
be agreed to by the Administrative Agent) prior written notice of the Debtor&rsquo;s intent to do so; <I>provide</I>d<I> </I>that
each Debtor shall at all times maintain its chief executive office, places of business, and Permitted Collateral Locations in the
United States of America and such Debtor shall have taken all action reasonably requested by the Administrative Agent in writing
to maintain the Lien and security interest of the Administrative Agent in the Collateral at all times fully perfected and in full
force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Debtor shall change its jurisdiction of organization without the Administrative Agent&rsquo;s prior written consent. No Debtor
shall change its legal name or transact business under any other trade name without first giving thirty (30)&nbsp;days&rsquo; (or
such shorter time period as may be agreed to by the Administrative Agent) prior written notice of its intent to do so to the Administrative
Agent.</P>

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    <!-- Field: /Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor shall warrant and defend the Collateral against any claims and demands of all persons at any time claiming the same or any
interest in the Collateral adverse to any of the Secured Creditors other than with respect to Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms of the Credit Agreement, each Debtor agrees it will not waste or destroy (other than in the ordinary course of its
use and as permitted by the Credit Agreement) the Collateral or any part thereof and will maintain the same in the manner required
by the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor will insure its Collateral consisting of tangible personal property against such risks and hazards as other companies similarly
situated insure against, and including in any event loss or damage by fire, theft, burglary, pilferage, and loss in transit, in
amounts and under policies containing lender&rsquo;s loss payable clauses to the Administrative Agent as its interest may appear
(and, if the Administrative Agent requests in writing, naming the Administrative Agent as additional insureds therein) by financially
sound and reasonable insurers reasonably acceptable to the Administrative Agent. All premiums on such insurance shall be paid by
the Debtors and the policies of such insurance (or certificates therefor) delivered to the Administrative Agent. All insurance
required hereby shall provide that any loss shall be payable notwithstanding any act or negligence of the relevant Debtor, shall
provide that no cancellation thereof shall be effective until at least thirty (30) days after receipt by the relevant Debtor and
the Administrative Agent of written notice thereof, and shall be reasonably satisfactory to the Administrative Agent in all other
respects. Except as otherwise provided in Section 2.8(b) of the Credit Agreement, in case of any material loss, damage to or destruction
of the Collateral or any part thereof, the relevant Debtor shall promptly give written notice thereof to the Administrative Agent
generally describing the nature and extent of such damage or destruction. Except as otherwise provided in Section 2.8(b) of the
Credit Agreement, in case of any loss, damage to or destruction of the Collateral or any part thereof, the relevant Debtor, whether
or not the insurance proceeds, if any, received on account of such damage or destruction shall be sufficient for that purpose,
at such Debtor&rsquo;s cost and expense, will promptly repair or replace the Collateral so lost, damaged or destroyed, except to
the extent such Collateral is not necessary to the conduct of such Debtor&rsquo;s business in the ordinary course. Except as otherwise
provided in Section 2.8(b) of the Credit Agreement, in the event any Debtor shall receive any proceeds of such insurance, such
Debtor shall immediately pay over such proceeds of insurance to the Administrative Agent which will thereafter be applied to the
reduction of the Secured Obligations (whether or not then due) or held as collateral security therefor, as the Administrative Agent
may then reasonably determine or as otherwise provided for in the Credit Agreement; <I>provided, however, </I>that the Administrative
Agent agrees to release such insurance proceeds to the relevant Debtor for replacement or restoration of the portion of the Collateral
lost, damaged or destroyed if, but only if, (i)&nbsp;at the time of release no Default or Event of Default exists, (ii)&nbsp;written
application for such release is received by the Administrative Agent from the relevant Debtor within thirty (30)&nbsp;days of the
receipt of such proceeds, and (iii)&nbsp;the Administrative Agent has received evidence reasonably satisfactory to it that the
collateral lost, damaged or destroyed has been or will be replaced or restored to its condition immediately prior to the loss,
destruction or other event giving rise to the payment of such insurance proceeds. Each Debtor hereby authorizes the Administrative
Agent, at the Administrative Agent&rsquo;s option, to adjust, compromise, and settle any losses under any insurance afforded at
any time after the occurrence and during the continuation of any Default or Event of Default, and such Debtor does hereby irrevocably
constitute the Administrative Agent, its officers, agents, and attorneys, as such Debtor&rsquo;s attorneys-in-fact, with full power
and authority after the occurrence and during the continuation of any Default or Event of Default to effect such adjustment, compromise,
and/or settlement and to endorse any drafts drawn by an insurer of the Collateral or any part thereof and to do everything necessary
to carry out such purposes and to receive and receipt for any unearned premiums due under policies of such insurance. Unless the
Administrative Agent elects to adjust, compromise or settle losses as aforesaid, any adjustment, compromise, and/or settlement
of any losses under any insurance shall be made by the relevant Debtor subject to the final approval by the Administrative Agent
(regardless of whether or not an Event of Default shall have occurred) in the case of losses exceeding $100,000. All insurance
proceeds shall be subject to the Lien and security interest of the Administrative Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Collateral is in the possession or control of any agents or processors of a Debtor and the Administrative Agent so requests,
such Debtor agrees to notify such agents or processors in writing of the Administrative Agent&rsquo;s Lien and security interest
therein and instruct them to hold all such Collateral for the Administrative Agent&rsquo;s account and subject to the Administrative
Agent&rsquo;s written instructions. Each Debtor will, upon the request of the Administrative Agent (<I>provided</I> that, absent
an Event of Default, the Administrative Agent shall provide prior written notice to each Debtor of such request), authorize and
request all bailees and any other parties, if any, at any time processing, labeling, packaging, holding, storing, shipping or transferring
all or any part of the Collateral to permit the Administrative Agent and their respective representatives to examine and inspect
any of the Collateral then in such party&rsquo;s possession and to verify from such party&rsquo;s own books and records any information
concerning the Collateral or any part thereof which the Secured Creditors or their respective representatives may seek to verify.
As to any premises not owned by a Debtor wherein any of the Collateral is located, if any, such Debtor shall, upon the Administrative
Agent&rsquo;s request, use commercially reasonable efforts to cause each party having any right, title or interest in, or lien
on, any of such premises to enter into an agreement whereby such party disclaims or subordinates any right, title, and interest
in and Lien on the Collateral, allows the removal of such Collateral by the Administrative Agent or its agents or representatives,
and otherwise is in form and substance reasonably acceptable to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the Administrative Agent&rsquo;s written request, each Debtor agrees from time to time to deliver to the Administrative Agent such
evidence of the existence, identity, and location of its Collateral and of its availability as collateral security pursuant hereto
(including schedules describing all Receivables created or acquired by such Debtor, copies of customer invoices or the equivalent
for all services rendered by it, together with such Debtor&rsquo;s warranty of the genuineness thereof, and reports stating the
book value of its Inventory and Equipment by major category and location), in each case as the Administrative Agent may reasonably
request. The Administrative Agent shall have the right to verify all or any part of the Collateral in any reasonable manner, and
through any medium, which the Administrative Agent considers appropriate and reasonable, and each Debtor agrees to furnish all
reasonably necessary assistance and information, and perform any acts, which the Administrative Agent may reasonably require in
connection therewith; <I>provided</I> that verification of any Accounts of the Debtors or Retainage shall be made only as provided
in subsection (xv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor will comply in all material respects with the terms and conditions of any and all leases, easements, right-of-way agreements,
and other agreements binding upon such Debtor or affecting the Collateral, in each case which cover the premises wherein the Collateral
is located, and any Legal Requirement of any Governmental Authority having jurisdiction with respect to such premises or the conduct
of business thereon, where any such non-compliance, individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect or result in a Lien upon any of the Collateral (other than Permitted Liens).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Debtors shall notify the Administrative Agent in writing concurrently with the submission of a Compliance Certificate of any additional
intellectual property rights acquired or arising after the date hereof and shall submit to the Administrative Agent a supplement
to Schedule&nbsp;C to reflect such additional rights (provided any Debtor&rsquo;s failure to do so shall not impair the Administrative
Agent&rsquo;s security interest therein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor agrees to execute and deliver to the Administrative Agent a supplement to this Agreement in the form attached hereto as
Schedule&nbsp;H, or in such other form reasonably acceptable to the Administrative Agent, promptly upon becoming aware of any Commercial
Tort Claim of such Debtor arising after the date hereof, to the extent the aggregate amount of all Commercial Tort Claims at such
time exceeds $250,000 (provided any Debtor&rsquo;s failure to do so shall not impair the Administrative Agent&rsquo;s security
interest therein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor agrees to execute and deliver to the Administrative Agent such further agreements, assignments, instruments, and documents,
and to do all such other things, as the Administrative Agent may reasonably deem necessary or appropriate to assure the Administrative
Agent its Lien and security interest hereunder in the Collateral, including (i)&nbsp;such financing statements or other instruments
and documents as the Administrative Agent may from time to time reasonably require to comply with the UCC and any other applicable
law, (ii)&nbsp;such agreements with respect to patents, trademarks, copyrights, and similar intellectual property rights as the
Administrative Agent may from time to time reasonably require to comply with the filing requirements of the United States Patent
and Trademark Office and the United States Copyright Office, and (iii)&nbsp;such control agreements with respect to Deposit Accounts,
Investment Property, Letter-of-Credit Rights, and electronic Chattel Paper, and to cause the relevant depository institutions,
financial intermediaries, and issuers to execute and deliver such control agreements, as the Administrative Agent may from time
to time reasonably require. The Administrative Agent may order lien searches from time to time against any Debtor and the Collateral,
and the Debtors shall promptly reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses
incurred in connection with such lien searches. In the event for any reason the law of any jurisdiction other than New York becomes
or is applicable to the Collateral or any part thereof, or to any of the Secured Obligations, each Debtor agrees to execute and
deliver all such agreements, assignments, instruments, and documents and to do all such other things as the Administrative Agent
deems reasonably necessary or appropriate to preserve, protect, and enforce the security interest of the Administrative Agent under
the law of such other jurisdiction. Each Debtor agrees to mark its books and records to reflect the Lien and security interest
of the Administrative Agent in the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
failure of any Debtor to perform any of the covenants and agreements herein contained, the Administrative Agent may, at its option
and, prior to the occurrence and continuation of an Event of Default, following notice to the Debtor, perform the same and in so
doing may expend such sums as the Administrative Agent deems advisable in the performance thereof, including the payment of any
insurance premiums, the payment of any taxes, liens, and encumbrances, expenditures made in defending against any adverse claims,
and all other expenditures which the Administrative Agent may be compelled to make by operation of law or which the Administrative
Agent may make by agreement or otherwise for the protection of the security hereof. All such sums and amounts so expended shall
be repayable by the Debtors within three (3) Business Days following written demand, shall constitute additional Secured Obligations
secured hereunder, bearing interest as provided in Section&nbsp;2.4 of the Credit Agreement (the <I>&ldquo;Default Rate&rdquo;</I>).
No such performance of any covenant or agreement by the Administrative Agent on behalf of a Debtor, and no such advancement or
expenditure therefor, shall relieve any Debtor of any Default under the terms of this Agreement or in any way obligate any Secured
Creditor to take any further or future action with respect thereto. The Administrative Agent, in making any payment hereby authorized,
may do so according to any bill, statement or estimate procured from the appropriate public office or holder of the claim to be
discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale,
forfeiture, tax lien or title or claim. The Administrative Agent, in performing any act hereunder, shall be the sole judge of whether
the relevant Debtor is required to perform the same under the terms of this Agreement. The Administrative Agent is hereby authorized
to charge any account of any Debtor maintained with any Secured Creditor for the amount of such sums and amounts so expended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Collateral and every part thereof shall be free and clear of all Liens except for Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor hereby irrevocably authorizes the Administrative Agent (or its designee) at any time and from time to time to file in any
relevant jurisdiction any financing statements (including fixture filings) with respect to the Collateral or any part thereof and
amendments thereto that (i) indicate the Collateral as &ldquo;all assets, whether now owned or hereafter acquired&rdquo; or &ldquo;all
right, title and interest in and to all personal property and fixtures of the Debtor, whether now owned or existing or hereafter
created, acquired or arising&rdquo; of such Debtor, or words of similar meaning, or such other description as the Administrative
Agent may determine and (ii) contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing
of any financing statement or amendment, including (A) whether such Debtor is an organization, the type of organization and any
organizational identification number, if any, issued to such Debtor and (B) in the case of a financing statement filed as a fixture
filing or covering Collateral constituting minerals or the like to be extracted or timber to be cut, a sufficient description of
the real property to which such Collateral relates. Each Debtor agrees to provide such information to the Administrative Agent
promptly upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor agrees that the Administrative Agent shall have the right, at any time and, prior to the occurrence and continuation of
an Event of Default, upon prior written notice to the Debtors, in the name of the Administrative Agent or a nominee of the Administrative
Agent, to verify the validity, amount or any other matter relating to any Accounts of the Debtors or Retainage, by mail, telephone,
facsimile, email or otherwise; <I>provided </I>that, absent the occurrence and continuation of an Event of Default, such verification
shall only occur as part of, or in connection with, visits, inspections, and examinations permitted by Section 6.2 of the Credit
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special
Provisions Re: Receivables</I>. (a) As of the time any Receivable owned by a Debtor becomes subject to the security interest provided
for hereby, and at all times thereafter, such Debtor shall be deemed to have warranted as to each such Receivable that all warranties
of such Debtor set forth in this Agreement are true and correct with respect to such Receivable; that such Receivable and all papers
and documents relating thereto are genuine and in all respects what they purport to be; that such Receivable is valid and subsisting;
that the amount of such Receivable represented as owing is the correct amount actually and unconditionally owing, except for normal
cash discounts in the ordinary course of business; that the amount of such Receivable represented as owing is not disputed and
is not subject to any set-offs, credits, deductions or countercharges other than those arising in the ordinary course of such Debtor&rsquo;s
business which are disclosed to the Administrative Agent in writing promptly upon such Debtor becoming aware thereof; and, except
as disclosed to the Administrative Agent in writing at or prior to the time such Receivable is created, that no surety bond was
required or given in connection with such Receivable or the contracts or purchase orders out of which the same arose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Receivable arises out of a contract with the United States of America, or any state or political subdivision thereof, or any
department, agency or instrumentality of any of the foregoing, each Debtor agrees to promptly so notify the Administrative Agent
and, at the request of the Administrative Agent or the Secured Creditors, execute whatever instruments and documents are required
by the Administrative Agent in order that such Receivable shall be assigned to the Administrative Agent and that proper notice
of such assignment shall be given under the federal Assignment of Claims Act (or any successor statute) or any similar state or
local statute, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent any Receivable or other item of Collateral is evidenced by an Instrument or tangible Chattel Paper, each Debtor shall
cause such Instrument or tangible Chattel Paper to be pledged and delivered to the Administrative Agent; <I>provided, however,</I>
that, prior to the existence of a Default or Event of Default and thereafter until otherwise required by the Administrative Agent,
a Debtor shall not be required to deliver any such Instrument or tangible Chattel Paper if and only so long as the aggregate unpaid
principal balance of all such Instruments and tangible Chattel Paper held by the Debtors and not delivered to the Administrative
Agent hereunder is less than $100,000 at any one time outstanding. Unless delivered to the Administrative Agent or its agent, all
tangible Chattel Paper and Instruments shall contain a legend acceptable to the Administrative Agent indicating that such Chattel
Paper or Instrument is subject to the security interest of the Administrative Agent contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collection
of Receivables.</I> (a)&nbsp;Except as otherwise provided in this Agreement, each Debtor shall make collection of its Receivables
and may use the same to carry on its business in accordance with sound business practice and otherwise subject to the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence and during the continuance of any Event of Default, whether or not the Administrative Agent has exercised any of
its other rights under other provisions of this Section&nbsp;6, in the event the Administrative Agent requests any Debtor to do
so:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Instruments and tangible Chattel Paper at any time constituting part of the Receivables (including any postdated checks) shall,
upon receipt by such Debtor, be immediately endorsed to and deposited with Administrative Agent; and/or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Debtor shall instruct all customers and account debtors to remit all payments in respect of Receivables or any other Collateral
to a lockbox or lockboxes under the sole custody and control of the Administrative Agent and which are maintained at one or more
post offices selected by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence and during the continuance of any Event of Default, whether or not the Administrative Agent has exercised any of
its other rights under the other provisions of this Section&nbsp;6, the Administrative Agent or its designee may notify the relevant
Debtor&rsquo;s customers and account debtors, including Retainage debtors, in writing at any time that Receivables have been assigned
to the Administrative Agent or of the Administrative Agent&rsquo;s security interest therein, and either in its own name, or such
Debtor&rsquo;s name, or both, demand, collect (including through a lockbox analogous to that described in Section&nbsp;6(b)(ii)),
receive, receipt for, sue for, compound and give acquittance for any or all amounts due or to become due on Receivables, and in
the Administrative Agent&rsquo;s discretion file any claim or take any other action or proceeding which the Administrative Agent
may deem necessary or appropriate to protect and realize upon the security interest of the Administrative Agent in the Receivables
or any other Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
proceeds of Receivables or other Collateral transmitted to or otherwise received by the Administrative Agent pursuant to any of
the provisions of Sections&nbsp;6(b) or 6(c) may be handled and administered by the Administrative Agent in and through deposit
accounts maintained at the Administrative Agent or by the Administrative Agent at a commercial bank or banks selected by the Administrative
Agent (collectively the <I>&ldquo;Depositary Banks&rdquo;</I> and individually a <I>&ldquo;Depositary Bank&rdquo;</I>), and each
Debtor acknowledges that the maintenance of such deposit accounts by the Administrative Agent is solely for the Administrative
Agent&rsquo;s convenience and that the Debtors do not have any right, title or interest in such deposit accounts or any amounts
at any time standing to the credit thereof. The Administrative Agent may, after the occurrence and during the continuation of any
Event of Default, apply all or any part of any proceeds of Receivables or other Collateral received by it from any source to the
payment of the Secured Obligations in accordance with Section 2.9 of the Credit Agreement. The Administrative Agent may, after
the occurrence and during the continuation of an Event of Default, apply all or any part of any proceeds of Receivables or other
Collateral received by it from any source to the payment of the Secured Obligations in accordance with Section&nbsp;2.9 of the
Credit Agreement. The Administrative Agent need not apply or give credit for any item included in proceeds of Receivables or other
Collateral until the Depositary Bank has received final payment therefor at its office in cash or final solvent credits current
at the site of deposit acceptable to the Administrative Agent and the Depositary Bank as such. However, if the Administrative Agent
does permit credit to be given for any item prior to a Depositary Bank receiving final payment therefor and such Depositary Bank
fails to receive such final payment or an item is charged back to the Administrative Agent or any Depositary Bank for any reason,
the Administrative Agent may at its election in either instance charge the amount of such item back against any such deposit accounts
or any Deposit Account of any Debtor subject to the Lien and security interest of this Agreement, together with interest thereon
at the Default Rate. Concurrently with each transmission of any proceeds of Receivables or other Collateral to any such deposit
account, upon the Administrative Agent&rsquo;s request, the relevant Debtor shall furnish the Administrative Agent with a report
in such form as Administrative Agent shall reasonably require identifying the particular Receivable or such other Collateral from
which the same arises or relates. Unless and until a Default or an Event of Default has occurred and is continuing, the Administrative
Agent will release proceeds of Collateral which the Administrative Agent has not applied to the Secured Obligations. Each Debtor
hereby indemnifies the Secured Creditors from and against all liabilities, damages, losses, actions, claims, judgments, and all
reasonable costs, expenses, charges, and attorneys&rsquo; fees suffered or incurred by any Secured Creditor because of the maintenance
of the foregoing arrangements; <I>provided,</I> <I>however</I>, that no Debtor shall be required to indemnify any Secured Creditor
for any of the foregoing to the extent they arise (x) from the gross negligence or willful misconduct of the person seeking to
be indemnified, as determined by a court of competent jurisdiction by final and nonappealable judgment or (y) as a result from
a claim brought by any Debtor against the person seeking to be indemnified for breach in bad faith of such person&rsquo;s obligations
hereunder or under any other Loan Document, if such Debtor has obtained a final and nonappealable judgment in its favor on such
claim as determined by a court of competent jurisdiction. The Secured Creditors shall have no liability or responsibility to any
Debtor for the Administrative Agent or any Depositary Bank accepting any check, draft or other order for payment of money bearing
the legend &ldquo;payment in full&rdquo; or words of similar import or any other restrictive legend or endorsement whatsoever or
be responsible for determining the correctness of any remittance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special
Provisions Re: Inventory and Equipment.</I> (a)&nbsp;Each Debtor shall at its own cost and expense maintain, keep, and preserve
its Inventory in good and merchantable condition and keep and preserve its Equipment in good repair, working order, and condition,
ordinary wear and tear, casualty and condemnation excepted, subject to the limitations of Section 6.3 of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor shall use, consume, sell, and lease the Inventory in the ordinary course of its business or as otherwise permitted by the
terms of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor may, until an Event of Default has occurred and is continuing and thereafter until otherwise notified by the Administrative
Agent in writing, sell Equipment to the extent permitted by Section&nbsp;6.13 of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of the time any Inventory or Equipment of a Debtor becomes subject to the security interest provided for hereby and at all times
thereafter, such Debtor shall be deemed to have warranted as to any and all of such Inventory and Equipment that all warranties
of such Debtor set forth in this Agreement are true and correct with respect to such Inventory and Equipment; and that all of such
Inventory and Equipment is located at a location set forth pursuant to Section&nbsp;4(b). Each Debtor warrants and agrees that
none of its Inventory is or will be consigned to any other person without the Administrative Agent&rsquo;s prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to Section 4.1 of the Credit Agreement, and upon the Administrative Agent&rsquo;s or the Secured Creditors&rsquo; written request,
each Debtor shall at its own cost and expense cause the Lien of the Administrative Agent in and to any portion of the Collateral
subject to a certificate of title law to be duly noted on such certificate of title or to be otherwise filed in such manner as
is prescribed by law in order to perfect such Lien and will cause all such certificates of title and evidences of Lien to be deposited
with the Administrative Agent (and, until so delivered, such Debtor shall hold such certificates of title in trust for the benefit
of the Administrative Agent pursuant to the terms of this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for Equipment from time to time located on the real estate described on Schedule&nbsp;D or as otherwise hereafter disclosed to
the Administrative Agent and the Secured Creditors in writing, none of the Equipment is or will be attached to real estate in such
a manner that the same may become a fixture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any of the Inventory is at any time evidenced by a document of title, such document shall be promptly delivered by the relevant
Debtor to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special
Provisions Re: Investment Property, Subsidiary Interests and Deposits.</I> (a)&nbsp;Unless and until an Event of Default has occurred
and is continuing and thereafter until notified to the contrary by the Administrative Agent pursuant to Section&nbsp;10(d):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
Debtor shall be entitled to exercise all voting and/or consensual powers pertaining to its Investment Property and Subsidiary Interests,
or any part thereof, for all purposes not in breach of the terms of this Agreement, the Credit Agreement or any other document
evidencing or otherwise relating to any Secured Obligations; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
Debtor shall be entitled to receive and retain all cash dividends paid upon or in respect of its Investment Property and Subsidiary
Interests subject to the Lien and security interest of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Investment Property (including all securities, certificated or uncertificated, securities accounts, and commodity accounts) and
Subsidiary Interests owned directly by the Debtors on the date hereof is listed and identified on Schedule&nbsp;E. Each Debtor
shall promptly notify the Administrative Agent of any other Investment Property or Subsidiary Interests acquired or maintained
by such Debtor after the date hereof, and shall submit to the Administrative Agent a supplement to Schedule&nbsp;E to reflect such
additional rights (provided any Debtor&rsquo;s failure to do so shall not impair the Administrative Agent&rsquo;s security interest
therein). Each Debtor hereby acknowledges on behalf of its Subsidiaries that have issued Ownership Interests that such interests
are not of a type dealt in or traded on securities exchanges or securities markets and that its Ownership Interests in such Subsidiaries
are not securities governed by Article 8 of the UCC. Certificates<B> </B>for all certificated securities now or at any time constituting
Investment Property or Subsidiary Interests and part of the Collateral hereunder shall be promptly delivered by the applicable
Debtor to the Administrative Agent duly endorsed in blank for transfer or accompanied by an appropriate assignment or assignments
or an appropriate undated transfer power or powers, in every case sufficient to provide the Administrative Agent control as defined
in Section 8-106 of the UCC, including all Ownership Interests received in respect of a dividend or resulting from a<FONT STYLE="font-variant: small-caps">
</FONT>split-up, revision or reclassification of the Investment Property or Subsidiary Interests or any part thereof or received
in addition to, in substitution of or in exchange for the Investment Property or Subsidiary Interests or any part thereof as a
result of a merger, consolidation or otherwise. With respect to any uncertificated securities or any Investment Property or Subsidiary
Interests held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Administrative
Agent&rsquo;s request,<B> </B>the applicable Debtor shall execute and deliver, and shall use commercially reasonable efforts to
cause any such issuer or intermediary to execute and deliver, an agreement among such Debtor, the Administrative Agent, and such
issuer or intermediary in form and substance satisfactory to the Administrative Agent which provides, among other things, for the
issuer&rsquo;s or intermediary&rsquo;s agreement that it will comply with such entitlement orders, and apply any value distributed
on account of any Investment Property or Subsidiary Interests, as directed by the Administrative Agent without further consent
by such Debtor. The Administrative Agent may, subject to Section 10(i), at any time after the occurrence and during the continuance
of any Event of Default, cause to be transferred into its name or the name of its nominee or nominees any and all of the Investment
Property and Subsidiary Interests hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
and until an Event of Default has occurred and is continuing, each Debtor may sell or otherwise dispose of any of its Investment
Property or Subsidiary Interests to the extent permitted by the Credit Agreement, <I>provided</I> that, except to the extent permitted
by the Credit Agreement, no Debtor shall sell or otherwise dispose of any Ownership Interests in any direct or indirect Subsidiary
hereunder without the prior written consent of the Administrative Agent. After the occurrence and during the continuation of any
Event of Default, no Debtor shall sell all or any part of its Investment Property or Subsidiary Interests without the prior written
consent of the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor represents that on the date of this Agreement, none of its Investment Property or Subsidiary Interests consists of Margin
Stock except to the extent such Debtor has delivered to the Administrative Agent a duly executed and completed Form&nbsp;U-1 with
respect to such stock. If at any time the Investment Property or Subsidiary Interests or any part thereof consists of Margin Stock,
the relevant Debtor shall promptly so notify the Administrative Agent and deliver to the Administrative Agent a duly executed and
completed Form&nbsp;U-1 and such other instruments and documents reasonably requested by the Administrative Agent in form and substance
satisfactory to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor represents and warrants to, and agrees with, the Secured Creditors as follows: (i) as of the date hereof, the Subsidiary
Interests listed and described on Schedule E constitute the percentage of the Ownership Interests in each Subsidiary set forth
thereon owned directly by such Debtor; (ii) as of the date hereof, copies of the Organization Documents of each Debtor heretofore
delivered to the Administrative Agent are true and correct copies thereof and have not been amended or modified in any respect
other than as stated therein, and (iii) except as provided in the Credit Agreement, without the prior written consent of the Administrative
Agent, such Debtor hereby agrees not to amend or modify any of its Organization Documents which would in any manner adversely affect
the rights of such Debtor with respect to any Subsidiary Interests, any of such actions done without such prior written consent
to be null and void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Deposit Accounts of the Debtors on the date hereof are listed and identified (by account number and depository institution) on
Schedule&nbsp;E. Each Debtor shall promptly notify the Administrative Agent of any other Deposit Account opened or maintained by
such Debtor after the date hereof, and shall promptly submit to the Administrative Agent a supplement to Schedule&nbsp;E to reflect
such additional accounts (provided any Debtor&rsquo;s failure to do so shall not impair the Administrative Agent&rsquo;s security
interest therein). With respect to any Deposit Account maintained by a depository institution other than the Administrative Agent,
and as a condition to the establishment and maintenance of any such Deposit Account except as otherwise permitted by the Credit
Agreement, such Debtor, the depository institution, and the Administrative Agent shall execute and deliver an account control agreement
in form and substance satisfactory to the Administrative Agent which provides, among other things, for the depository institution&rsquo;s
agreement that it will comply with instructions originated by the Administrative Agent directing the disposition of the funds in
the Deposit Account without further consent by such Debtor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power
of Attorney.</I> In addition to any other powers of attorney contained herein, each Debtor hereby appoints the Administrative Agent,
its nominee, or any other Person whom the Administrative Agent may designate as such Debtor&rsquo;s attorney-in-fact, with full
power and authority, upon the occurrence and during the continuation of any Event of Default, to (i)&nbsp;sign such Debtor&rsquo;s
name on verifications of Receivables and other Collateral; (ii)&nbsp;send requests for verification of Collateral to such Debtor&rsquo;s
customers, account debtors, and other obligors; (iii)&nbsp;exercise all voting rights with respect to the Investment Property or
other Collateral or any part thereof; (iv) endorse such Debtor&rsquo;s name on any assignments, stock powers or other instruments
of transfer and on any checks, notes, acceptances, money orders, drafts, and any other forms of payment or security that may come
into the Administrative Agent&rsquo;s possession; (v)&nbsp;endorse the Collateral in blank or to the order of the Administrative
Agent or its nominee; (vi)&nbsp;sign such Debtor&rsquo;s name on any invoice or bill of lading relating to any Collateral, on claims
to enforce collection of any Collateral, on notices to and drafts against customers and account debtors and other obligors, on
schedules and assignments of Collateral, on notices of assignment and on public records; (vii) notify the post office authorities
to change the address for delivery of such Debtor&rsquo;s mail to an address designated by the Administrative Agent; (viii) receive,
open, and dispose of all mail addressed to such Debtor; and (ix) do all things necessary to carry out this Agreement. Each Debtor
hereby ratifies and approves all acts of any such attorney consistent with this Section&nbsp;9 and agrees that neither the Administrative
Agent nor any such attorney will be liable for any acts or omissions or for any error of judgment or mistake of fact or law other
than (i)&nbsp;such person&rsquo;s gross negligence or willful misconduct, as determined by a court of competent jurisdiction by
final and nonappealable judgment or (ii)&nbsp;as a result from a claim brought by any Debtor against such person for breach in
bad faith of such person&rsquo;s obligations hereunder or under any other Loan Document, if such Debtor has obtained a final and
nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. The Administrative Agent
may file one or more financing statements disclosing its security interest in all or any part of the Collateral without any Debtor&rsquo;s
signature appearing thereon, and each Debtor also hereby grants the Administrative Agent a power of attorney to authorize any such
financing statements, and amendments and supplements thereto, on behalf of such Debtor without notice thereof to any Debtor. The
foregoing powers of attorney, being coupled with an interest, are irrevocable until the Facility Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defaults
and Remedies.</I> (a) The occurrence of any event or the existence of any condition specified as an &ldquo;Event of Default&rdquo;
under the Credit Agreement shall constitute an <I>&ldquo;Event of Default&rdquo;</I> hereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence and during the continuation of any Event of Default, the Administrative Agent shall have, in addition to all other
rights provided herein or by law, the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the
law of the jurisdiction where the rights or remedies are asserted and regardless of whether the UCC applies to the affected Collateral),
and further the Administrative Agent may, without demand and, to the extent permitted by applicable law, without advertisement,
notice, hearing or process of law, all of which each Debtor hereby waives to the extent permitted by applicable law, at any time
or times, sell and deliver any or all Collateral held by or for it at public or private sale, at any securities exchange or broker&rsquo;s
board or at the Administrative Agent&rsquo;s office or elsewhere, for cash, upon credit or otherwise, at such prices and upon such
terms as the Administrative Agent deems advisable, in its discretion. In the exercise of any such remedies, the Administrative
Agent may sell the Collateral as a unit even though the sales price thereof may be in excess of the amount remaining unpaid on
the Secured Obligations. Also, if less than all the Collateral is sold, the Administrative Agent shall have no duty to marshal
or apportion the part of the Collateral so sold as between the Debtors, or any of them, but may sell and deliver any or all of
the Collateral without regard to which of the Debtors are the owners thereof. In addition to all other sums due any Secured Creditor
hereunder, each Debtor shall pay the Secured Creditors all costs and expenses incurred by the Secured Creditors, including reasonable
attorneys&rsquo; fees and court costs, in obtaining, liquidating or enforcing payment of Collateral or the Secured Obligations
or in the prosecution or defense of any action or proceeding by or against any Secured Creditor or any Debtor concerning any matter
arising out of or connected with this Agreement or the Collateral or the Secured Obligations, including any of the foregoing arising
in, arising under or related to a case under the United States Bankruptcy Code (or any successor statute). Any requirement of reasonable
notice shall be met if such notice is given in accordance with Section 10.8 of the Credit Agreement at least ten (10) days before
the time of sale or other event giving rise to the requirement of such notice; <I>provided, however,</I> no notification need be
given to a Debtor if such Debtor has signed, after an Event of Default hereunder has occurred, a statement renouncing any right
to notification of sale or other intended disposition. The Administrative Agent shall not be obligated to make any sale or other
disposition of the Collateral regardless of notice having been given. Any Secured Creditor may be the purchaser at any such sale.
Each Debtor hereby waives all of its rights of redemption from any such sale. The Administrative Agent may postpone or cause the
postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale
may, without further notice, be made at the time and place to which the sale was postponed or the Administrative Agent may further
postpone such sale by announcement made at such time and place. The Administrative Agent has no obligation to prepare the Collateral
for sale. The Administrative Agent may sell or otherwise dispose of the Collateral without giving any warranties as to the Collateral
or any part thereof, including disclaimers of any warranties of title or the like, and each Debtor acknowledges and agrees that
the absence of such warranties shall not render the disposition commercially unreasonable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
in any way limiting the foregoing, upon the occurrence and during the continuation of any Event of Default hereunder, in addition
to all other rights provided herein or by law, (i)&nbsp;the Administrative Agent shall have the right to take physical possession
of any and all of the Collateral and anything found therein, the right for that purpose to enter without legal process any premises
where the Collateral may be found (provided such entry be done lawfully), and the right to maintain such possession on the relevant
Debtor&rsquo;s premises (each Debtor hereby agreeing, to the extent it may lawfully do so, to lease such premises without cost
or expense to the Administrative Agent or its designee if the Administrative Agent so requests) or to remove the Collateral or
any part thereof to such other places as the Administrative Agent may desire, (ii)&nbsp;the Administrative Agent shall have the
right to direct any intermediary at any time holding any Investment Property or other Collateral, or any issuer thereof, to deliver
such Collateral or any part thereof to the Administrative Agent and/or to liquidate such Collateral or any part thereof and deliver
the proceeds thereof to the Administrative Agent (including the right to deliver a notice of control with respect to any Collateral
held in a securities account or commodities account and deliver all entitlement orders with respect thereto), (iii)&nbsp;the Administrative
Agent shall have the right to exercise any and all rights with respect to all Deposit Accounts of each Debtor, including the right
to direct the disposition of the funds in each Deposit Account and to collect, withdraw, and receive all amounts due or to become
due or payable thereunder, and (iv)&nbsp;each Debtor shall, upon the Administrative Agent&rsquo;s demand, promptly assemble the
Collateral and make it available to the Administrative Agent at a place reasonably designated by the Administrative Agent. If the
Administrative Agent exercises its right to take possession of the Collateral, each Debtor shall also at its expense perform any
and all other steps requested by the Administrative Agent to preserve and protect the security interest hereby granted in the Collateral,
such as placing and maintaining signs indicating the security interest of the Administrative Agent, appointing overseers for the
Collateral and maintaining Collateral records.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
in any way limiting the foregoing, upon the occurrence and during the continuation of any Event of Default, all rights of the Debtors
to exercise the voting and/or consensual powers which they are entitled to exercise pursuant to Section&nbsp;8(a)(i) and/or to
receive and retain the distributions which they are entitled to receive and retain pursuant to Section&nbsp;8(a)(ii), shall, at
the option of the Administrative Agent, cease and thereupon become vested in the Administrative Agent, which, in addition to all
other rights provided herein or by law, shall then be entitled solely and exclusively to exercise all voting and other consensual
powers pertaining to the Investment Property and Subsidiary Interests and/or to receive and retain the distributions which such
Debtor would otherwise have been authorized to retain pursuant to Section&nbsp;8(a)(ii) and shall then be entitled solely and exclusively
to exercise any and all rights of conversion, exchange or subscription or any other rights, privileges or options pertaining to
any Investment Property or Subsidiary Interests as if the Administrative Agent were the<FONT STYLE="font-variant: small-caps">
</FONT>absolute owner thereof including the rights to exchange, at its discretion, all Investment Property or Subsidiary Interests
or any part thereof upon the merger, consolidation, reorganization, recapitalization or other readjustment of the respective issuer
thereof or upon the exercise by or on behalf of any such issuer or the Administrative Agent of any right, privilege or option pertaining
to such Investment Property or Subsidiary Interests and, in connection therewith, to deposit and deliver such Investment Property
and Subsidiary Interests or any part thereof with any committee, depositary, transfer agent, registrar or other designated agency
upon such terms and conditions as the Administrative Agent may determine. In the event the Administrative Agent in good faith believes
any of the Collateral constitutes restricted securities within the meaning of any applicable securities laws, any disposition thereof
in compliance with such laws shall not render the disposition commercially unreasonable. In the event the Administrative Agent
shall sell or otherwise dispose of all or any part of the Investment Property or Subsidiary Interests, each Debtor hereby grants
the purchaser of such portion of such Investment Property or Subsidiary Interests, to the fullest extent of its capacity, the ability
(but not the obligation) to become a member (or equivalent position) in such Subsidiary (subject to and in accordance with the
Organization Documents of such Subsidiary and subject to any requirements of applicable law), in the place and stead of such Debtor.
To exercise such right, the purchaser shall give written notice to the applicable Subsidiary of its election to become a member
(or equivalent position) in such Subsidiary. Following such election and giving of all necessary consent, the purchaser shall have
the rights and powers and be subject to the liabilities of a member (or equivalent position) under the applicable Organization
Documents of such Subsidiary and the applicable law governing such Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps">Each
Debtor hereby irrevocably constitutes and appoints the Administrative Agent as its proxy and attorney-in-fact, upon the occurrence
and during the continuation of any Event of Default with respect to its Investment Property and other Collateral, including the
right to vote such Investment Property and other Collateral, with full power of substitution to do so, and including the right
to exercise all other rights, powers, privileges and remedies to which a holder of such Investment Property and other Collateral
would be entitled (including giving or withholding written consents of shareholders or other equity holders, calling special meetings
of shareholders or other equity holders, and voting at such meetings). Upon the occurrence of an Event of Default, such proxy shall
be effective automatically and without the necessity of any action (including any transfer of any such Investment Property and
other Collateral on the record books of the issuer thereof) by any Person (including the issuer of such Investment Property and
other Collateral or any officer or agent thereof). Each Debtor hereby ratifies and approves all acts of any such attorney and agrees
that neither the Administrative Agent nor any such attorney will be liable for any acts or omissions or for any error of judgment
or mistake of fact or law other than (i)&nbsp;such Person&rsquo;s gross negligence or willful misconduct, as determined by a court
of competent jurisdiction by final and nonappealable judgment or (ii)&nbsp;as a result from a claim brought by any Debtor against
such person for breach in bad faith of such person&rsquo;s obligations hereunder or under any other Loan Document, if such Debtor
has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction;
<I>provided</I> that, in no event shall they be liable for any punitive, exemplary, indirect or consequential damages. The foregoing
powers of attorney and proxy, being coupled with an interest, are irrevocable until the Facility Termination Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
in any way limiting the foregoing, each Debtor hereby grants to the Secured Creditors a royalty-free irrevocable license and right
to use all of such Debtor&rsquo;s patents, patent applications, patent licenses, trademarks, trademark registrations, trademark
licenses, trade names, trade styles, copyrights, copyright licenses, copyright applications, copyright registrations, and similar
intangibles in connection with any foreclosure or other realization by the Administrative Agent or the Secured Creditors on all
or any part of the Collateral to the extent permitted by law. The license and right granted the Secured Creditors hereby shall
be without any royalty or fee or charge whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
powers conferred upon the Secured Creditors hereunder are solely to protect their interest in the Collateral and shall not impose
on them any duty to exercise such powers. The Administrative Agent shall be deemed to have exercised reasonable care in the custody
and preservation of the Collateral in its possession or control if such Collateral is accorded treatment substantially equivalent
to that which the Administrative Agent accords its own property, consisting of similar type assets, it being understood, however,
that the Administrative Agent shall have no responsibility for (i)&nbsp;ascertaining or taking any action with respect to calls,
conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not the Administrative Agent
has or is deemed to have knowledge of such matters, (ii)&nbsp;taking any necessary steps to preserve rights against any parties
with respect to any Collateral, or (iii)&nbsp;initiating any action to protect the Collateral or any part thereof against the possibility
of a decline in market value. This Agreement constitutes an assignment of rights only and not an assignment of any duties or obligations
of the Debtors in any way related to the Collateral, and the Administrative Agent shall have no duty or obligation to discharge
any such duty or obligation. Neither any Secured Creditor nor any party acting as attorney for any Secured Creditor shall be liable
for any acts or omissions or for any error of judgment or mistake of fact or law other than (i)&nbsp;such person&rsquo;s gross
negligence or willful misconduct, as determined by a court of competent jurisdiction by final and nonappealable judgment or (ii)
as a result from a claim brought by any Debtor against such person for breach in bad faith of such person&rsquo;s obligations hereunder
or under any other Loan Document, if such Debtor has obtained a final and nonappealable judgment in its favor on such claim as
determined by a court of competent jurisdiction; <I>provided</I> that, in no event shall they be liable for any punitive, exemplary,
indirect or consequential damages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure
by the Administrative Agent to exercise any right, remedy or option under this Agreement or any other agreement between any Debtor
and the Administrative Agent or provided by law, or delay by the Administrative Agent in exercising the same, shall not operate
as a waiver; and no waiver shall be effective unless it is in writing, signed by the party against whom such waiver is sought to
be enforced and then only to the extent specifically stated. The rights and remedies of the Secured Creditors under this Agreement
shall be cumulative and not exclusive of any other right or remedy which any Secured Creditor may have. For purposes of this Agreement,
an Event of Default shall be construed as continuing after its occurrence until waived in writing by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Application
of Proceeds</I>. The proceeds and avails of the Collateral at any time received by the Administrative Agent upon the occurrence
and during the continuation of any Event of Default shall, when received by the Administrative Agent in cash or its equivalent,
be applied by the Administrative Agent in reduction of, or held as collateral security for, the Secured Obligations in accordance
with the terms of the Credit Agreement. The Debtors shall remain liable to the Secured Creditors for any deficiency. Any surplus
remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Borrower, as agent for the
Debtors, or to whomsoever the Administrative Agent reasonably determines is lawfully entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continuing
Agreement.</I> This Agreement shall be a continuing agreement in every respect and shall remain in full force and effect until
the Facility Termination Date. Upon such termination of this Agreement, the Administrative Agent shall, upon the request and at
the expense of the Debtors, forthwith release its Liens and security interests hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent. </I> In acting under or by virtue of this Agreement, the Administrative Agent shall be entitled to all the
rights, authority, privileges, and immunities provided in the Credit Agreement, all of which provisions of said Credit Agreement
(including Section&nbsp;9 thereof) are incorporated by reference herein with the same force and effect as if set forth herein in
their entirety. The Administrative Agent hereby disclaims any representation or warranty to the Secured Creditors or any other
holders of the Secured Obligations concerning the perfection of the Liens and security interests granted hereunder or in the value
of any of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.</I>
(a)&nbsp;This Agreement cannot be changed or terminated orally. This Agreement shall create a continuing Lien on and security interest
in the Collateral and shall be binding upon each Debtor, its successors and assigns and shall inure, together with the rights and
remedies of the Secured Creditors hereunder, to the benefit of the Secured Creditors and their successors and permitted assigns;
<I>provided,</I> <I>however</I>, that no Debtor may assign its rights or delegate its duties hereunder without the Administrative
Agent&rsquo;s prior written consent. Without limiting the generality of the foregoing, but subject to the provisions of the Credit
Agreement, any Lender may assign or otherwise transfer any Indebtedness held by it secured by this Agreement to any other Person,
and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise specified herein, all notices and other communications provided for herein shall be in writing (including by such
electronic communication as e-mail and Internet or intranet websites) and shall be given to the applicable party as set forth in
Section&nbsp;10.8 of the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event and to the extent that any provision hereof shall be deemed to be invalid or unenforceable by reason of the operation
of any law or by reason of the interpretation placed thereon by any court, this Agreement shall to such extent be construed as
not containing such provision, but only as to such jurisdictions where such law or interpretation is operative, and the invalidity
or unenforceability of such provision shall not affect the validity of any remaining provisions hereof, and any and all other provisions
hereof which are otherwise lawful and valid shall remain in full force and effect. Without limiting the generality of the foregoing,
in the event that this Agreement shall be deemed to be invalid or otherwise unenforceable with respect to any Debtor, such invalidity
or unenforceability shall not affect the validity of this Agreement with respect to the other Debtors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Lien and security interest herein created and provided for stand as direct and primary security for the Secured Obligations of
the Borrower arising under or otherwise relating to the Credit Agreement as well as for the other Secured Obligations secured hereby.
No application of any sums received by the Secured Creditors in respect of the Collateral or any disposition thereof to the reduction
of the Secured Obligations or any part thereof shall in any manner entitle any Debtor to any right, title or interest in or to
the Secured Obligations or any collateral or security therefor, whether by subrogation or otherwise, unless and until the Facility
Termination Date. Each Debtor acknowledges and agrees that the Lien and security interest hereby created and provided are absolute
and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever of any Secured Creditor
or any other holder of any Secured Obligations, and without limiting the generality of the foregoing, the Lien and security interest
hereof shall not be impaired by any acceptance by any Secured Creditor or any other holder of any Secured Obligations of any other
security for or guarantors upon any of the Secured Obligations or by any failure, neglect or omission on the part of any Secured
Creditor or any other holder of any of the Secured Obligations to realize upon or protect any of the Secured Obligations or any
collateral or security therefor. The Lien and security interest hereof shall not in any manner be impaired or affected by (and
the Secured Creditors, without notice to anyone, are hereby authorized to make from time to time) any sale, pledge, surrender,
compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or
disposition of any of the Secured Obligations or of any collateral or security therefor, or of any guaranty thereof, or of any
instrument or agreement setting forth the terms and conditions pertaining to any of the foregoing. The Secured Creditors may at
their discretion at any time grant credit to the Borrower without notice to the other Debtors in such amounts and on such terms
as the Secured Creditors may elect without in any manner impairing the Lien and security interest created and provided for. In
order to realize hereon and to exercise the rights granted the Secured Creditors hereunder and under applicable law, there shall
be no obligation on the part of any Secured Creditor at any time to first resort for payment to the Borrower or any other Debtor
or to any guaranty of the Secured Obligations or any portion thereof or to resort to any other collateral, security, property,
liens or any other rights or remedies whatsoever, and the Secured Creditors shall have the right to enforce this Agreement against
any Debtor or its Collateral irrespective of whether or not other proceedings or steps seeking resort to or realization upon or
from any of the foregoing are pending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event the Secured Creditors shall at any time in their discretion permit a substitution of Debtors hereunder or a party shall
wish to become a Debtor hereunder, such substituted or additional Debtor shall, upon executing an agreement in the form attached
hereto as Schedule&nbsp;G, become a party hereto and be bound by all the terms and conditions hereof to the same extent as though
such Debtor had originally executed this Agreement and, in the case of a substitution, in lieu of the Debtor being replaced. Any
such agreement shall contain information as to such Debtor necessary to update Schedules&nbsp;A, B, C, D, E and F with respect
to it. No such substitution shall be effective absent the written consent of the Administrative Agent nor shall it in any manner
affect the obligations of the other Debtors hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be executed in any number of counterparts, and by the different parties on different counterpart signature pages,
all of which taken together shall constitute one and the same agreement. Any of the parties hereto may execute this Agreement by
signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of a counterpart
hereof by facsimile transmission or by e-mail transmission of an Adobe portable document format file (also known as a &ldquo;PDF&rdquo;
file) shall be effective as delivery of a manually executed counterpart hereof. Each Debtor acknowledges that this Agreement is
and shall be effective upon its execution and delivery by such Debtor to the Administrative Agent, and it shall not be necessary
for the Administrative Agent to execute this Agreement or any other acceptance hereof or otherwise to signify or express its acceptance
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of any provision
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based on, arising
out of or relating to this Agreement shall be governed by, and construed in accordance with, the law of the State of New York,
without regard to conflicts of law provisions (other than Sections 5-1401 and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor irrevocably and unconditionally submits, for itself and its property, to the non-exclusive jurisdiction of the courts of
the State of New York sitting in New York County, and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement and each of
the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in such New York State court or, to the fullest extent permitted by applicable law, in such Federal court. Each
of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Debtor irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that it may now
or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement in any court
referred to in Section&nbsp;14(i). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable
law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any right it may have to a trial by
jury in any legal proceeding directly or indirectly arising out of or relating to this Agreement or the transactions contemplated
hereby (whether based on contract, tort or any other theory). Each party hereto (a)&nbsp;certifies that no representative, agent
or attorney of any other person has represented, expressly or otherwise, that such other person would not, in the event of litigation,
seek to enforce the foregoing waiver and (b)&nbsp;acknowledges that it and the other parties hereto have been induced to enter
into this Agreement by, among other things, the mutual waivers and certifications in this section&nbsp;14(k).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confirmation
of Pledge. </I>The Ownership Interests of certain of the Debtors (such Debtors, for purposes of this Section&nbsp;15, being referred
to collectively as the <I>&ldquo;Pledged Entities&rdquo;</I> and each individually as a <I>&ldquo;Pledged Entity&rdquo;</I>), whether
certificated or otherwise, constitute Subsidiary Interests under this Agreement. By executing this Agreement, each Pledged Entity
(in addition to any other covenants, representations and warranties it has made as a Debtor hereunder), acknowledges and agrees
that: (a)&nbsp;during such times as are provided in this Agreement, the Administrative Agent may exercise the voting rights related
to the Pledged Entity; (b)&nbsp;such Pledged Entity shall not challenge, dispute or take any action to prevent the Administrative
Agent&rsquo;s exercise of the voting rights with respect to such Pledged Entity provided such voting rights are exercised in accordance
with this Agreement; (c)&nbsp;such Pledged Entity consents to the assignment of all or any portion of the Ownership Interests to
the Administrative Agent or any of the Administrative Agent&rsquo;s assignees upon any foreclosure of the Ownership Interests;
(d)&nbsp;all parties required by the terms of the Pledged Entity&rsquo;s Organization Documents to approve the assignment of all
or any portion of the Ownership Interests to the Administrative Agent or any of the Administrative Agent&rsquo;s assignees upon
any foreclosure of the Ownership Interests have done so; (e)&nbsp;such Pledged Entity consents to the admission of the Administrative
Agent or any of the Administrative Agent&rsquo;s assignees as a member or partner of such Pledged Entity upon any foreclosure of
the Ownership Interest without the taking of any further action by such Pledged Entity, any other Debtor, the Administrative Agent
or any of the Administrative Agent&rsquo;s assignees, all notwithstanding any provision or requirement to the contrary in such
Pledged Entity&rsquo;s Organization Documents; and (f)&nbsp;such Pledged Entity waives its rights, to the extent it has any, under
its Organization Documents, to the extent such rights conflict with the provisions of and rights granted to the Administrative
Agent and the Administrative Agent&rsquo;s assignees to permit the Administrative Agent to exercise its rights under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">In</FONT>
<FONT STYLE="font-variant: small-caps">Witness</FONT> <FONT STYLE="font-variant: small-caps">Whereof</FONT>, each Debtor has caused
this Security Agreement to be duly executed and delivered as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps"><I>&ldquo;Debtors&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name</TD>
    <TD STYLE="width: 41%">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD>Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name</TD>
    <TD>John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD>Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Company LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name</TD>
    <TD>John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD>Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Harper Limbach LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>Name</TD>
    <TD>John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD>Executive Vice President and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Company LP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name</TD>
    <TD>John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title</TD>
    <TD>Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Harper Limbach Construction LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in">Executive Vice President and Treasurer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-align: justify; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Page to Security Agreement]</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-align: justify; text-indent: -0.2in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-align: justify; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accepted and agreed
to as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, as Administrative Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; width: 6%">Name: </TD>
    <TD STYLE="text-align: left; text-indent: 0in; width: 41%">David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Title:</TD>
    <TD STYLE="text-align: left; text-indent: 0in"> Vice President</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; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Page to Security Agreement]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule A</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Locations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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: 32%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Column 1</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Column 2</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Column 3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Name of Debtor&nbsp;&nbsp;(and
    State of</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-variant: small-caps">Organization and</FONT><BR>
    <FONT STYLE="font-variant: small-caps">Organizational Registration</FONT><BR>
    <FONT STYLE="font-variant: small-caps">Number)</FONT></FONT></TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Chief Executive Office</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-variant: small-caps">(and name of record </FONT><BR>
    <FONT STYLE="font-variant: small-caps">owner of such Location)</FONT></FONT></TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Additional Places of</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-variant: small-caps">Business and Collateral</FONT><BR>
    <FONT STYLE="font-variant: small-caps">Locations (and name of </FONT><BR>
    <FONT STYLE="font-variant: small-caps">record owner of such </FONT><BR>
    <FONT STYLE="font-variant: small-caps">Locations)</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Limbach Facility Services LLC<BR>
    (Delaware; Organizational Number 3555585)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">31-35th Street</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle<BR>
        (35th Strouss Associates))</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">301 East Pine Street,</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Suite 400<BR>
        Orlando, FL 32801<BR>
        (Record Owner: HIW-KC Orlando, LLC)</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Limbach Holdings LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(Delaware; Organizational
        Number 3588231)</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">31-35th Street</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle<BR>
        (35th Strouss Associates))</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Harper Limbach LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(Delaware; Organizational
        Number 3555571)</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">31-35th Street</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle<BR>
        (35th Strouss Associates))</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">5401 Benchmark Lane<BR>
        Sanford, FL 32773<BR>
        (Record Owner: Harper Limbach LLC)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"> </FONT> <FONT STYLE="font-size: 10pt">5102 West Laurel Street</FONT> <BR>
<FONT STYLE="font-size: 10pt">Suite 800<BR> Tampa, FL 33607<BR>
(Record Owner: Menkure Pyramid, LLC)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Limbach Company LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(Delaware; Organizational
        Number 3555572)</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">31-35th Street</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle<BR>
        (35th Strouss Associates))</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">926 Featherstone Road<BR>
        Pontiac, MI 48342<BR>
        (Record Owner: Limbach Company LLC)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">13261 Mid-Atlantic Blvd<BR>
    Laurel, MD 20708<BR>
    (Record Owner: Jackson-Shaw/Brickyard LP)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 32%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">217 Elizabeth St.<BR>
        Cumberland, MD 21502<BR>
        (Record Owner: John and Rebecca Hancock)</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">822 Cleveland Avenue<BR>
        Columbus, OH 43201<BR>
        (Record Owner: 243 Limited Partnership)</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">16635 Canaanville Hills Road<BR>
        Athens, OH 45701<BR>
        (Record Owner: JBH Investments, LLC)</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">624 Truck Court<BR>
        Lansing, MI 48912<BR>
        (Record Owner: Tamara L.L.C.)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">46 Jonspin Road<BR>
        Wilmington, MA 01187<BR>
        (Record Owner: Jonspin Realty Trust)</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">1139 Broad Street<BR>
        Greensburg, PA 15601<BR>
        (Record Owner: Transpac, Inc.)</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">1001 Technology Drive<BR>
        Mt. Pleasant, PA 15666<BR>
        (Record Owner: William E. Burroughs)</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">175 Titus Avenue<BR>
        Warrington, PA 18976<BR>
        (Record Owner: 175 Titus Partners, LP)</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">5C Chris Court<BR>
        Dayton, NJ 08810<BR>
        (Record Owner: LIT-CHRIS/RIDGE LLC)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Limbach Company LP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Delaware; Organizational Number 3598729)</P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">31-35th Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle (35th Strouss Associates))</P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%">12442 Knott Street<BR>
Garden Grove, CA 92841<BR>
(Record Owner: LBA RIV-Company XXVII, LLC)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Harper Limbach Construction LLC (Delaware; Organizational Number 5223617)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">31-35th Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pittsburgh, PA 15201<BR>
        (Record Owner: Giant Eagle (35th Strouss Associates))</P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">940 Williston Park Point<BR>
        Lake Mary, FL 32746<BR>
        (Record Owner: Butters Realty &amp; Mgt.)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>9051 Florida Mining Road Suite 103 and 104<BR>
        Tampa, FL 33634<BR>
        (Record Owner: Eagle Creek 5 &amp; 6 LLC)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule B</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Other Names</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
Legal Names</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: 92%; border-collapse: collapse; margin-left: 0.45in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-variant: small-caps">Debtor</FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-variant: small-caps">Prior Legal Names</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Facility Services LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Holdings LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Harper Limbach LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Company LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Company LP</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Harper Limbach Construction LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade
Names</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: 92%; border-collapse: collapse; margin-left: 0.45in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-variant: small-caps">Debtor</FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-variant: small-caps">Trade Names</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Facility Services LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Limbach Engineering &amp; Design Services</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Holdings LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Harper Limbach LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Company LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Sabo, Limbach Energy Services</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Limbach Company LP</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Western Air Limbach</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Harper Limbach Construction LLC</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule&nbsp;C</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Intellectual Property Rights</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"><U>Trademarks</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">None.</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"><U>Copyrights</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">An Appraisal of Building&rsquo;s Environmental Systems
(Reg. No. TX0000186524)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Systems Appraisals (Reg. No. TX0000207986)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>None</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule&nbsp;D</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Real Estate Legal Descriptions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: transparent"><FONT STYLE="font-weight: normal; background-color: white">5401
Benchmark Lane, Sanford, Florida, which parcel is legally described as:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: transparent"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="background-color: white">All
that certain piece, parcel or tract of land situated in Seminole County, Florida, described as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="background-color: white">Lots <FONT STYLE="font-size: 10pt; font-weight: normal">5,
6, 7, 8, 9 and </FONT>the West &frac12; of Lot <FONT STYLE="font-size: 10pt; font-weight: normal">10, </FONT>Midway Commerce
Center, according to the plat thereof <FONT STYLE="font-size: 10pt; font-weight: normal">as </FONT>recorded in Plat Book <FONT STYLE="font-size: 10pt; font-weight: normal">31, </FONT>Page <FONT STYLE="font-size: 10pt; font-weight: normal">39 </FONT>and <FONT STYLE="font-size: 10pt; font-weight: normal">40, </FONT>Public
Records of Seminole County, Florida.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="background-color: white">Being
the same property conveyed by Roche International, Inc. to Jovinole Associates, a Pennsylvania partnership, by Warranty Deed filed
December <FONT STYLE="font-size: 10pt; font-weight: normal">13, 1984, </FONT>and recorded in the office of the Register of Deeds
for Seminole County, Florida at Book <FONT STYLE="font-size: 10pt; font-weight: normal">1600, </FONT>page 1003.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: transparent"><FONT STYLE="font-weight: normal; background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: transparent"><FONT STYLE="font-weight: normal; background-color: white">926
Featherstone Road, Pontiac, Michigan, which parcel is legally described as:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: transparent"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: transparent"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following described premises situated in the city of Pontiac County of Oakland and State of Michigan, to-wit: Part of Lot 23
of Assessor&rsquo;s Plat No. 147 a replat of Assessor&rsquo;s Plat No. 15 located in N.E. 1/4 of Sec. 28 and S.E. <FONT STYLE="background-color: white">1/4 </FONT>Sec.
22; a replat of Lot 25 and Lots 1 to 7 incl. <FONT STYLE="background-color: white">of Assessor&rsquo;s </FONT>Plat No. 16
located in N.E. 1/4 of Sec. 28 a replat of Lots 44 and 45 of Assessor</FONT>&rsquo;<FONT STYLE="font-family: Times New Roman, Times, Serif">s
Plat No. 105 located in W. 1/2 Sec. 27; also land in S.W. 1/4 Sec. 22; also land in N.W. <FONT STYLE="background-color: white">1/4 </FONT>Sec.
27; and land in S.W. 1/4 Sec. 27 all being in T. 3N., R. 10E., </FONT>City of Pontiac, Oakland County, Michigan, as recorded
in Liber 35, Page 54a, described as beginning at a point, said point being S. 87 degrees 16 minutes 55 seconds W. 555.42 feet
and S. 02 degrees 26 minutes 18 seconds <FONT STYLE="font-family: Times New Roman, Times, Serif">E. 220.00 feet from
the </FONT>N.W. corner of Lot 30 of said subdivision and <FONT STYLE="font-family: Times New Roman, Times, Serif">proceeding
thence N. 87 degrees 16 minutes 55 seconds E. 150.00 feet; thence S. 0<FONT STYLE="background-color: white">2 degrees 26
minutes 18 seconds E. 804.90 feet; thence N. 51 degrees 23 minutes 20 seconds W. 530.30 feet; thence N. 02 degrees 26 minutes
18 seconds W. 449.70 feet; thence N. 87 degrees 16 minutes 55 seconds E. 249.93 feet thence N. 02 degrees 26 minutes 18
seconds W. 5.00 feet to the point of beginning. Containing 5.75 acres. Subject to easements of record.</FONT></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule E</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Investment Property, Subsidiary
Interests, and Deposits</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
Property (other than Subsidiary Interests)</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">None.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsidiary
Interests</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-variant: small-caps">
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Name&nbsp;of&nbsp;Debtor</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Name&nbsp;of<BR>
Subsidiary Issuer</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Type&nbsp;of<BR> Organization<BR> (e.g.,&nbsp;corporation,<BR> partnership,<BR> limited&nbsp;liability<BR> company)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Jurisdiction&nbsp;of<BR> Organization</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">No.&nbsp;of&nbsp;Issued<BR> Shares/units</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Certificate<BR> No.&nbsp;(if&nbsp;any)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-variant: small-caps">Percentage<BR> of
    Issuer&rsquo;s<BR> Ownership<BR> Interests</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left">Limbach Holdings LLC</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: left">Limbach Facility Services LLC</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: left">Limited Liability Company</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">Delaware</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 12%; text-align: center">10&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">N/A</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Limbach Facility Services LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limbach Company LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limited Liability Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Delaware</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">10&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Limbach Facility Services LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limbach Company LP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limited Partnership</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Delaware</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">9.99&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Limbach Company LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limbach Company LP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limited Partnership</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Delaware</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">0.01&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Limbach Facility Services LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Harper Limbach LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limited Liability Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Delaware</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">10&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Limbach Facility Services LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Harper Limbach Construction LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Limited Liability Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Delaware</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">10&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">N/A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits</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: bottom">
    <TD STYLE="width: 25%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Name&nbsp;of&nbsp;Debtor</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 24%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Name&nbsp;of&nbsp;Depository</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 24%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Type&nbsp;of&nbsp;Account</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 24%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-variant: small-caps">Account&nbsp;Number</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Facility Services</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Concentration Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X1831</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Facility Services</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Direct Deposit Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X2169&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Facility Services LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Disbursement Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9849</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Facility Services</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X7160&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X2193&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X2185&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X2177&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Fifth Third Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X1714&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Facility Services</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Wells Fargo Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Concentration Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9118</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Wells Fargo Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9134&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Wells Fargo Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9142&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Harper Limbach LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Wells Fargo Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9159&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LP</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Wells Fargo Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X9126&plusmn;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Limbach Company LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Citizens Bank</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Payroll Account</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">X7749&plusmn;</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; text-align: justify">*Note: Accounts to include such other deposit
accounts maintained from time to time with the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">**Note: Accounts marked with &plusmn; are
Excluded Deposit Accounts (as defined in the Credit Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule&nbsp;F</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commercial Tort Claims</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule&nbsp;G</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Assumption and Supplement
to Security Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">This
Assumption and Supplement to Security Agreement </FONT>(this <I>&ldquo;Agreement&rdquo;</I>) dated as of this _____ day of _____________,
20__ from [<B>new Debtor</B>], a _______________ <B>corporation/limited liability company/partnership </B>(the <I>&ldquo;New Debtor&rdquo;</I>),
to Fifth Third Bank, an Ohio banking corporation (<I>&ldquo;Fifth Third&rdquo;</I>), as administrative agent for the Secured Creditors
(defined in the Security Agreement hereinafter identified and defined) (Fifth Third acting as such agent and any successor or successors
to Fifth Third in such capacity being hereinafter referred to as the <I>&ldquo;Administrative Agent&rdquo;</I>).</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Preliminary Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limbach
Facility Services LLC (the <I>&ldquo;Borrower&rdquo;</I>) and certain other parties have executed and delivered to the Administrative
Agent that certain Security Agreement dated as of July 20, 2016 (such Security Agreement, as the same may from time to time be
amended, modified or restated, including supplements thereto which add additional parties as Debtors thereunder, being hereinafter
referred to as the <I>&ldquo;Security Agreement&rdquo;</I>), pursuant to which such parties (the <I>&ldquo;Existing Debtors&rdquo;</I>)
have granted to the Administrative Agent for the benefit of the Secured Creditors a Lien on and security interest in the Existing
Debtors&rsquo; Collateral (as such term is defined in the Security Agreement) to secure the Secured Obligations (as such term is
defined in the Security Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower provides the New Debtor with substantial financial, managerial, administrative, and technical support and the New Debtor
will benefit, directly and indirectly, from credit and other financial accommodations extended by the Secured Creditors to the
Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now,
therefore, for value received,</FONT> and in consideration of advances made or to be made, or credit accommodations given or to
be given, to the Borrower by the Secured Creditors from time to time, the New Debtor hereby agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
New Debtor acknowledges and agrees that it shall become a &ldquo;Debtor&rdquo; party to the Security Agreement effective upon the
date of the New Debtor&rsquo;s execution of this Agreement and the delivery of this Agreement to the Administrative Agent, and
that upon such execution and delivery, all references in the Security Agreement to the terms &ldquo;Debtor&rdquo; or &ldquo;Debtors&rdquo;
shall be deemed to include the New Debtor. Without limiting the generality of the foregoing, the New Debtor hereby repeats and
reaffirms all grants (including the grant of a Lien and security interest), covenants, agreements, representations, and warranties
contained in the Security Agreement as amended hereby, each and all of which are and shall remain applicable to the Collateral
from time to time owned by the New Debtor or in which the New Debtor from time to time has any rights. Without limiting the foregoing,
in order to secure payment of the Secured Obligations, whether now existing or hereafter arising, the New Debtor does hereby grant
to the Administrative Agent for the benefit of the Secured Creditors, and hereby agrees that the Administrative Agent has and shall
continue to have for the benefit of the Secured Creditors a continuing Lien on and security interest in, among other things, all
of the New Debtor&rsquo;s Collateral (as such term is defined in the Security Agreement), including, without limitation, all of
the New Debtor&rsquo;s Accounts, Chattel Paper, Instruments, Documents, General Intangibles Letter-of-Credit Rights, Supporting
Obligations, Deposit Accounts, Investment Property, Inventory, Equipment, Fixtures, Commercial Tort Claims, and all of the other
Collateral described in Section&nbsp;2 of the Security Agreement, each and all of such granting clauses being incorporated herein
by reference with the same force and effect as if set forth herein in their entirety except that all references in such clauses
to the Existing Debtors or any of them shall be deemed to include references to the New Debtor. Nothing contained herein shall
in any manner impair the priority of the liens and security interests heretofore granted in favor of the Administrative Agent under
the Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedules&nbsp;A
(Locations), Schedule&nbsp;B (Other Names), Schedule&nbsp;C (Intellectual Property Rights), Schedule&nbsp;D (Real Estate Legal
Descriptions), Schedule&nbsp;E (Investment Property, Subsidiary Interests and Deposits) and Schedule&nbsp;F (Commercial Tort Claims)
to the Security Agreement shall be supplemented by the information stated below with respect to the New Debtor:</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule A</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 32%; text-align: center"><FONT STYLE="font-variant: small-caps">Name&nbsp;of&nbsp;Debtor&nbsp;(and</FONT><BR>
<FONT STYLE="font-variant: small-caps">State&nbsp;of&nbsp;Organization</FONT><BR>
<FONT STYLE="font-variant: small-caps">and&nbsp;Organizational</FONT><BR>
<FONT STYLE="font-variant: small-caps">Registration&nbsp;Number)</FONT></TD>
    <TD NOWRAP STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; text-align: center"><FONT STYLE="font-variant: small-caps">Chief&nbsp;Executive&nbsp;Office&nbsp;(and</FONT><BR>
<FONT STYLE="font-variant: small-caps">name&nbsp;of&nbsp;record&nbsp;owner&nbsp;of</FONT><BR>
<FONT STYLE="font-variant: small-caps">such&nbsp;location)</FONT></TD>
    <TD NOWRAP STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; text-align: center"><FONT STYLE="font-variant: small-caps">Additional&nbsp;Places&nbsp;of</FONT><BR>
<FONT STYLE="font-variant: small-caps">Business&nbsp;and&nbsp;Collateral</FONT><BR>
<FONT STYLE="font-variant: small-caps">Locations&nbsp;(and&nbsp;name&nbsp;of</FONT><BR>
<FONT STYLE="font-variant: small-caps">record&nbsp;owner&nbsp;of&nbsp;such</FONT><BR>
<FONT STYLE="font-variant: small-caps">locations)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule B</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-variant: small-caps">Name&nbsp;of&nbsp;Debtor</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-variant: small-caps">Prior&nbsp;Legal&nbsp;Names&nbsp;and&nbsp;Trade&nbsp;Names&nbsp;of</FONT><BR>
<FONT STYLE="font-variant: small-caps">Such&nbsp;Debtor</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule&nbsp;C</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; font-variant: small-caps">Intellectual&nbsp;Property&nbsp;Rights</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: center; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="text-align: center; font-variant: small-caps">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule D</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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 COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Real&nbsp;Estate&nbsp;Legal&nbsp;Descriptions</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 30%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 40%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule E</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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 COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-variant: small-caps">Investment Property, Subsidiary Interests and Deposits</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplement to Schedule F</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: 33%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-variant: small-caps">Commercial Tort Claims</FONT></TD>
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
New Debtor hereby acknowledges and agrees that the Secured Obligations are secured by all of the Collateral according to, and otherwise
on and subject to, the terms and conditions of the Security Agreement to the same extent and with the same force and effect as
if the New Debtor had originally been one of the Existing Debtors under the Security Agreement and had originally executed the
same as such an Existing Debtor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
capitalized terms used in this Agreement without definition shall have the same meaning herein as such terms have in the Security
Agreement, except that any reference to the term &ldquo;Debtor&rdquo; or &ldquo;Debtors&rdquo; and any provision of the Security
Agreement providing meaning to such term shall be deemed a reference to the Existing Debtors and the New Debtor. Except as specifically
modified hereby, all of the terms and conditions of the Security Agreement shall stand and remain unchanged and in full force and
effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
New Debtor agrees to execute and deliver such further instruments and documents and do such further acts and things as the Administrative
Agent may deem necessary or proper to carry out more effectively the purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
reference to this Agreement need be made in the Security Agreement or in any other document or instrument making reference to the
Security Agreement, any reference to the Security Agreement in any of such to be deemed a reference to the Security Agreement as
modified hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be executed in any number of counterparts, and by the different parties on different counterpart signature pages,
all of which taken together shall constitute one and the same agreement. Any of the parties hereto may execute this Agreement by
signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of a counterpart
hereof by facsimile transmission or by e-mail transmission of an Adobe portable document format file (also known as a &ldquo;PDF&rdquo;
file) shall be effective as delivery of a manually executed counterpart hereof. This Agreement shall be governed by and construed
in accordance with the law of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>[Insert Name of New Debtor</B></FONT><B>]</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left">By</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name</TD>
    <TD STYLE="width: 41%; border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accepted and agreed
to as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, as Administrative Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 41%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule H</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Supplemental Security Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">This
Supplemental Security Agreement </FONT>(this <I>&ldquo;Agreement&rdquo;</I>) dated as of this _____ day of _____________, 20__
from [<B>Debtor</B>], a _____________ <B>corporation/limited liability company/partnership </B>(the <I>&ldquo;Debtor&rdquo;</I>),
to Fifth Third Bank, an Ohio banking corporation (<I>&ldquo;Fifth Third&rdquo;</I>), as administrative agent for the Secured Creditors
(defined in the Security Agreement hereinafter identified and defined) (Fifth Third acting as such agent and any successor or successors
to Fifth Third in such capacity being hereinafter referred to as the <I>&ldquo;Administrative Agent&rdquo;</I>).</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Preliminary Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limbach
Facility Services LLC (the <I>&ldquo;Borrower&rdquo;</I>) and certain other parties have executed and delivered to the Administrative
Agent that certain Security Agreement dated as of July 20, 2016 (such Security Agreement, as the same may from time to time be
amended, modified or restated, being hereinafter referred to as the <I>&ldquo;Security Agreement&rdquo;</I>), pursuant to which
such parties have granted to the Administrative Agent for the benefit of the Secured Creditors a Lien on and security interest
in the Collateral (as such term is defined in the Security Agreement) to secure the Secured Obligations (as such term is defined
in the Security Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Security Agreement, the Debtor granted to the Administrative Agent, among other things, a continuing security interest in
all Commercial Tort Claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Debtor has acquired a Commercial Tort Claim which, when taken together with all other Commercial Tort Claims, has an aggregate
value in excess of $250,000, and the Debtor executes and delivers this Agreement to confirm and assure the Administrative Agent&rsquo;s
security interest therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now,
therefore, for value received,</FONT> and in consideration of advances made or to be made, or credit accommodations given or to
be given, to the Borrower by the Secured Creditors from time to time, the Debtor hereby agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to secure payment of the Secured Obligations, whether now existing or hereafter arising, the Debtor does hereby grant to
the Administrative Agent for the benefit of the Secured Creditors, and hereby agrees that the Administrative Agent has and shall
continue to have for the benefit of the Secured Creditors a continuing Lien on and security interest in the Commercial Tort Claim
described below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(Insert description
of the Commercial Tort Claim by referring to a specific incident giving rise to the claim)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;F
(Commercial Tort Claims) to the Security Agreement is hereby amended to include reference to the Commercial Tort Claim referred
to in Section&nbsp;1 above. The Commercial Tort Claim described herein is in addition to, and not in substitution or replacement
for, the Commercial Tort Claims heretofore described in and subject to the Security Agreement, and nothing contained herein shall
in any manner impair the priority of the Liens and security interests heretofore granted by the Debtor in favor of the Administrative
Agent under the Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
capitalized terms used in this Agreement without definition shall have the same meaning herein as such terms have in the Security
Agreement, except that any reference to the term &ldquo;Collateral&rdquo; and any provision of the Security Agreement providing
meaning to such term shall be deemed to include the Commercial Tort Claim referred to in Section&nbsp;1 above. Except as specifically
modified hereby, all of the terms and conditions of the Security Agreement shall stand and remain unchanged and in full force and
effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Debtor agrees to execute and deliver such further instruments and documents and do such further acts and things as the Administrative
Agent may deem necessary or proper to carry out more effectively the purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
reference to this Agreement need be made in the Security Agreement or in any other document or instrument making reference to the
Security Agreement, any reference to the Security Agreement in any of such to be deemed a reference to the Security Agreement as
modified hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Debtor acknowledges that this Agreement shall be effective upon its execution and delivery by the Debtor to the Administrative
Agent, and it shall not be necessary for the Administrative Agent to execute this Agreement or any other acceptance hereof or otherwise
to signify or express its acceptance hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be executed in any number of counterparts, and by the different parties on different counterpart signature pages,
all of which taken together shall constitute one and the same agreement. Any of the parties hereto may execute this Agreement by
signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of a counterpart
hereof by facsimile transmission or by e-mail transmission of an Adobe portable document format file (also known as a &ldquo;PDF&rdquo;
file) shall be effective as delivery of a manually executed counterpart hereof. This Agreement shall be governed by and construed
in accordance with the law of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<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: 6%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 41%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title</TD>
    <TD STYLE="text-indent: 0in; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>v444860_ex10-5.htm
<DESCRIPTION>COPYRIGHT COLLATERAL AGREEMENT, DATED AS OF JULY 20, 2016, BY AND BETWEEN THE COMPANY AND FIFTH THIRD BANK
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Copyright Collateral Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This 20th day of July,
2016, Limbach Company LLC, a Delaware limited liability company (the <I>&ldquo;Debtor&rdquo;</I>), with its principal place of
business and mailing address at 31-35th Street, Pittsburgh, Pennsylvania 15201, in consideration of the premises contained in the
Security Agreement (as defined below) and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, assigns, mortgages and pledges to Fifth Third Bank, an Ohio banking<B> </B>corporation (<I>&ldquo;Fifth Third&rdquo;</I>),
with its mailing address at Fifth Third Center, 38 Fountain Square Plaza, Cincinnati, Ohio 45263, acting as administrative agent
hereunder for the Secured Creditors as defined in the Security Agreement referred to below, and its successors and assigns (Fifth
Third acting as such administrative agent and any successor(s) or assign(s) to Fifth Third acting in such capacity being hereinafter
referred to as the <I>&ldquo;Administrative Agent&rdquo;</I>), and grants to the Administrative Agent for the benefit of the Secured
Creditors a continuing security interest in, the following property:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
copyright, copyright registration, and copyright application listed on Schedule A hereto and all of the works of authorship described
and claimed therein and any and all renewals, derivative works, enhancements, modifications, new releases and other revisions thereof;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
proceeds of the foregoing, including without limitation any claim by Debtor against third parties for damages by reason of past,
present or future infringement of any copyright, copyright registration, or copyright application listed on Schedule A hereto,
in each case together with the right to sue for and collect said damages;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">to secure the payment and performance of
all Secured Obligations as set out in that certain Security Agreement bearing even date herewith between the Debtor, the other
debtors party thereto and the Administrative Agent, as the same may be amended, modified, or restated from time to time (the <I>&ldquo;Security
Agreement&rdquo;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Debtor does hereby
further acknowledge and affirm that the rights and remedies of the Administrative Agent<B> </B>with respect to the assignment,
mortgage, pledge and security interest in the copyrights, copyright registrations, and copyright applications made and granted
hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated herein by reference
as if fully set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This agreement may
be executed in any number of counterparts, and by the different parties on different counterpart signature pages, all of which
taken together shall constitute one and the same agreement. Any of the parties hereto may execute this agreement by signing any
such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of a counterpart hereof
by facsimile transmission or by e-mail transmission of an Adobe portable document format file (also known as a &ldquo;PDF&rdquo;
file) shall be effective as delivery of a manually executed counterpart hereof. This agreement shall be governed by and construed
in accordance with the law of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">In</FONT>
<FONT STYLE="font-variant: small-caps">Witness</FONT> <FONT STYLE="font-variant: small-caps">Whereof</FONT>, Debtor has caused
this Copyright Collateral Agreement to be duly executed as of the date and year last above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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 NOWRAP>&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP><FONT STYLE="font-variant: small-caps">Limbach Company LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 45%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 3%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ John T. Jordan, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">Name &nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">John T. Jordan, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify; text-indent: 0in">Title</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accepted and agreed
to as of the date and year last above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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 NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Fifth Third Bank, as Administrative Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 45%; text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 3%; text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 47%; text-indent: 0in">&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">Name&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">Title</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Copyright Collateral
Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.45in; text-indent: -0.2in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule A</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">To Copyright Collateral
Agreement</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">U.S. Copyright Numbers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 22%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">United
        States </FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">Copyright
        No.</FONT></P></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 61%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Title of Copyright</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Reg. Date</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">TX0000207986</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Systems Appraisal.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">11/16/1978</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">TX0000186524</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">An Appraisal of Building&rsquo;s Environmental Systems.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">11/17/1978</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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>8
<FILENAME>v444860_ex10-6.htm
<DESCRIPTION>LOAN AGREEMENT, DATED AS OF JULY 20, 2016, BY AND AMONG LIMBACH FACILITY SERVICES LLC, THE COMPANY, THE GUARANTORS FROM TIME TO TIME PARTY THERETO, THE LENDERS FROM TIME TO TIME PARTY THERETO AND ALCENTRA CAPITAL CORPORATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution Version</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 0.75pt; border-top: Black 0.75pt solid; border-bottom: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Loan Agreement</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">among</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Limbach Facility Services LLC,
<FONT STYLE="font-variant: normal">a Delaware limited liability company, </FONT><BR>
<FONT STYLE="font-variant: normal">as Borrower,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Limbach Holdings LLC, <FONT STYLE="font-variant: normal">a
Delaware limited liability company,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">as
Parent,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Guarantors<BR>
from time to time party hereto,</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Lenders</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">from time to time party hereto,</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">and</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Alcentra Capital Corporation,<FONT STYLE="font-variant: normal">
a Maryland corporation,</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">as
Agent</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of July 20, 2016</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Table of Contents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 20%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section</FONT></TD>
    <TD STYLE="width: 68%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Heading</FONT></TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Page</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-variant: small-caps"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section
    1.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Definitions; Interpretation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interpretation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change in Accounting Principles</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rounding</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 2.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Loans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.5.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.6.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.7.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturity of Loans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.8.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepayments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.9.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Place and Application of Payments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.10.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.11.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reserved</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.12.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evidence of Indebtedness</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.13.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fees</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 3.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Conditions Precedent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 3.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 4.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">The Guaranties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guaranties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.4.&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further Assurances</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 5.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Representations and Warranties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Organization and Qualification</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authority and Enforceability</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Reports</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Material Adverse Change</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.5.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Litigation and Other Controversies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.6.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">True and Complete Disclosure</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.7.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds; Margin Stock</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.8.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.9.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ERISA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD></TR>
</TABLE>


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    <TD STYLE="vertical-align: top; width: 20%; padding-left: 27pt; text-indent: 0in">Section 5.10.</TD>
    <TD STYLE="vertical-align: top; width: 68%; padding-left: 9pt; text-indent: 0in">Subsidiaries</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; text-align: right; text-indent: 0in">35</TD></TR>
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    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.11.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Compliance with Laws</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
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    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.12.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Environmental Matters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.13.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Investment Company</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.14.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Intellectual Property</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.15.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Good Title</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.16.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Labor Relations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.17.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Governmental Authority and Licensing</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.18.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Approvals</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.19.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Affiliate Transactions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.20.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Solvency</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.21.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">No Broker Fees</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.22.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">No Default</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.23.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Compliance with Sanctions Programs</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.24.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Merger Agreement; Bonding Facility</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">38</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.25.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Other Agreements and Documents</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">38</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.26.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Options and Warrants, Etc.</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">38</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 5.27.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Senior Facility Debt</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps"></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in; font-variant: small-caps"></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">Section 6.</TD>
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in; font-variant: small-caps">39</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-indent: 0in"></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in"></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.1.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Information Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.2.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Inspections; Field Examinations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">42</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.3.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Maintenance of Property and Insurance; Environmental Matters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">43</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.4.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Compliance with Laws and Material Agreements</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.5.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">ERISA</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.6.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Payment of Taxes</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.7.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Preservation of Existence</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.8.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Contracts with Affiliates</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.9.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Restrictions or Changes and Amendments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.10.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Change in the Nature of Business</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.11.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Indebtedness</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.12.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Liens</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">46</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.13.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Consolidation, Merger, and Sale of Assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">48</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.14.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Advances, Investments, and Loans</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">48</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.15.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Restricted Payments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">49</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.16.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Limitation on Restrictions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">50</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.17.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Limitation on Issuances of New Ownership Interests by Subsidiaries</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">50</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.18.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Limitation on the Creation of Subsidiaries</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">50</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.19.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">[Reserved]</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">51</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.20.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Financial Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">51</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.21.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Compliance with Sanctions Programs</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">52</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.22.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Subordinated Debt</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">53</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 6.23.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Anti-Layering</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">54</TD></TR>
</TABLE>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.24.</FONT></TD>
    <TD STYLE="width: 68%; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.25.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitations on Parent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.26.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bonding Capacity</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.27.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds; Margin Stock</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.28.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board Observer</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.29</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prohibition on Assignment of Senior Facility Debt</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.30.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Post-Closing Matters</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 7.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Events of Default and Remedies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Events of Default</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Bankruptcy Defaults</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bankruptcy Defaults</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.5.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Default</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 8.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Change in Circumstances and Contingencies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased Costs</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 9.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">The Agent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">61</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appointment and Authorization of Agent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">61</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agent and Its Affiliates</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exculpatory Provisions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reliance by Agent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.5.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delegation of Duties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.6.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Reliance on Agent and Other Lenders</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.7.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resignation of Agent and Successor Agent</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.8.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.9.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Reserved]</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.10.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Other Duties; Designation of Additional Agents</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.11.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorization to Enter into, and Enforcement of the Guaranty</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.12.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agent May File Proofs of Claim</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.13.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guaranty Matters</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Section 10.&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Miscellaneous</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">66</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.1.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.2.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitigation Obligations; Replacement of Lenders</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.3.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Waiver, Cumulative Remedies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">71</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.4.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Business Days</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">71</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.5.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Survival of Representations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.6.</FONT></TD>
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Survival of Indemnities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 20%; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.7.</TD>
    <TD STYLE="vertical-align: top; width: 68%; padding-left: 9pt; text-indent: 0in">Sharing of Payments by Lenders</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; text-align: right; text-indent: 0in">72</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.8.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Notices; Effectiveness; Electronic Communication</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">72</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.9.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Successors and Assigns; Assignments and Participations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">74</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.10.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Amendments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.11.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Headings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.12.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Expenses; Indemnity; Damage Waiver</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">79</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.13.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Set-off</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">80</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.14.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Governing Law; Jurisdiction; Etc.</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">81</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.15.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Severability of Provisions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">81</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.16.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Excess Interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">82</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.17.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Construction</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">82</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.18.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Lenders&rsquo; Obligations Several</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">82</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 10.19.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">USA Patriot Act</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">82</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.20.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Waiver of Jury Trial</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">83</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 10.21.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Treatment of Certain Information; Confidentiality</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">83</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 10.22.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Counterparts; Integration; Effectiveness</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">84</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;10.23.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">All Powers Coupled with Interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">84</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 10.24.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Managerial Assistance</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">84</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps"></TD>
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in; font-variant: small-caps"></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">Section&nbsp;11.</TD>
    <TD STYLE="vertical-align: top; text-indent: 0in; font-variant: small-caps">The Guarantees</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in; font-variant: small-caps">85</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: 0in"></TD>
    <TD STYLE="vertical-align: top; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in"></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.1.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">The Guarantees</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">85</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.2.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Guarantee Unconditional</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">85</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.3.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Discharge Only upon Termination Date; Reinstatement in Certain Circumstances</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.4.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Subrogation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.5.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Subordination</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.6.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Waivers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.7.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Limit on Recovery</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.8.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Stay of Acceleration</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.9.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Benefit to Guarantors</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section&nbsp;11.10.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">[Reserved]</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 27pt; text-indent: 0in">Section 11.11.</TD>
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: 0in">Guarantor Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">87</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-indent: -99pt">&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: 15%"><FONT STYLE="font-variant: small-caps">Exhibit</FONT> A</TD>
    <TD STYLE="width: 5%">&mdash;</TD>
    <TD STYLE="width: 80%; padding-left: 0.125in">[Reserved]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit B</FONT></TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">[Reserved]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit C</FONT></TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">[Reserved]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT> D</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit</FONT> E</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Compliance Certificate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit F</FONT></TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Assignment and Assumption</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Exhibit G</FONT></TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Additional Guarantor Supplement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Loans</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1-A</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Capital Leases</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 1-B</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">June 2016 EBITDA Calculations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 2.4(B)</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Conversion Calculation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.5</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Litigation</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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: 15%"><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.9</TD>
    <TD STYLE="width: 5%">&mdash;</TD>
    <TD STYLE="width: 80%; padding-left: 0.125in">ERISA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.10</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Subsidiaries</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule</FONT> 5.16</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Labor Relations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule&nbsp;</FONT>5.25</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Material Agreements</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-variant: small-caps">Schedule&nbsp;</FONT>6.30</TD>
    <TD>&mdash;</TD>
    <TD STYLE="padding-left: 0.125in">Post-Closing Matters</TD></TR>
</TABLE>
<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Loan Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Loan Agreement
is entered into as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC, </FONT>a
Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach Holdings
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), and the direct and indirect Subsidiaries of
the Borrower<B> </B>from time to time party to this Agreement, as Guarantors, the various institutions from time to time party
to this Agreement, as Lenders, and <FONT STYLE="font-variant: small-caps">Alcentra Capital Corporation</FONT>, a Maryland corporation,
as Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower has requested,
and the Lenders have agreed to extend, certain credit facilities on the terms and conditions of this Agreement. In consideration
of the mutual agreements set forth in this Agreement, the parties to this Agreement agree as follows:</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions;
Interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Section&nbsp;1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions</I>.
The following terms when used herein shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Acquired
Business&rdquo;</I> means the entity or assets acquired by the Borrower or another Loan Party in an Acquisition, whether before
or after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Acquisition&rdquo;</I>
means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a)&nbsp;the
acquisition of all or substantially all of the assets of a Person, or of any business or division of a Person, (b)&nbsp;the acquisition
of in excess of 50% of the Ownership Interests of any Person (other than a Person that is a Subsidiary), or otherwise causing any
Person to become a Subsidiary, or (c)&nbsp;a merger or consolidation or any other combination with another Person (other than a
Person that is a Subsidiary), <I>provided</I> that the Borrower or another Loan Party is the surviving entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Agent&rdquo;
</I>means Alcentra, as contractual representative for itself and the other Lenders and any successor in such capacity pursuant
to Section&nbsp;9.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Administrative
Questionnaire&rdquo;</I> means, with respect to each Lender, an Administrative Questionnaire in a form supplied by the Agent and
duly completed by such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Affiliate&rdquo;</I>
means any Person directly or indirectly controlling (including all stockholders, members, directors, partners, managers, and officers
of such Person) or controlled by, or under direct or indirect common control with, another Person. A Person shall be deemed to
control another Person for the purposes of this definition if such Person possesses, directly or indirectly, the power to direct,
or cause the direction of, the management and policies of the other Person, whether through the ownership of voting securities,
common directors, managers, trustees or officers, by contract or otherwise; <I>provided </I>that, in any event for purposes of
this definition, any Person that owns, directly or indirectly, 10% or more of the securities having the ordinary voting power for
the election of directors, managers or governing body of a corporation or 10% or more of the partnership or other ownership interest
of any other Person (other than as a limited partner of such other Person) will be deemed to control such corporation or other
Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Agreement&rdquo;</I>
means this Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;AHYDO Payment
Date&rdquo; </I>is defined in Section 2.4(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Alcentra&rdquo;</I>
means Alcentra Capital Corporation, a Maryland corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Amended and
Restated Senior Subordinated Loan Agreement&rdquo; </I>means that certain Amended and Restated Senior Subordinated Loan Agreement
dated as of November 23, 2004, by and among Borrower, the other borrowers named therein, FdG HVAC LLC, Marathon I, B.V., and the
other financial institutions party thereto, as amended by that certain Amendment to Amended and Restated Senior Subordinated Loan
Agreement dated as of August 24, 2007, and as further amended by that certain Second Amendment to Amended and Restated Senior Subordinated
Loan Agreement dated March 30, 2010, and as further amended by that certain Third Amendment to Amended and Restated Senior Subordinated
Loan Agreement dated September 2, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Approved
Fund&rdquo;</I> means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise
investing in commercial loans and similar extensions of credit in the ordinary course of its business and that is administered
or managed by (a)&nbsp;a Lender, (b)&nbsp;an Affiliate of a Lender or (c)&nbsp;an entity or an Affiliate of an entity that administers
or manages a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Assignment
and Assumption&rdquo;</I> means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section&nbsp;10.9(b)(iii)), and accepted by the Agent, in substantially the form of Exhibit&nbsp;F&nbsp;or
any other form approved by the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Authorized
Representative&rdquo;</I> means those persons shown on the list of officers provided by the Borrower pursuant to Section&nbsp;3.1
or on any update of any such list provided by the Borrower to the Agent, or any further or different officers of the Borrower so
named by any Authorized Representative of the Borrower in a written notice to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bonding Agreements&rdquo;
</I>is defined in Section 5.24(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Bonding Company&rdquo;
</I>means Travelers Casualty and Surety Company of America, a<B> </B>Connecticut corporation, or any other nationally recognized
bonding company reasonably satisfactory to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrower&rdquo;</I>
is defined in the introductory paragraph of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Business
Day&rdquo;</I> means any day (other than a Saturday or Sunday) on which banks are not authorized or required to close in New York,
New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capital Expenditures&rdquo;</I>
means, with respect to any Person for any period, the aggregate amount of all expenditures (whether paid in cash or accrued as
a liability) by such Person during that period for the acquisition or leasing (pursuant to a Capital Lease) of fixed or capital
assets or additions to property, plant, or equipment (including replacements, capitalized repairs, and improvements) which should
be capitalized on the balance sheet of such Person in accordance with GAAP excluding (i)&nbsp;expenditures made in connection with
the replacement, substitution, restoration or repair of assets to the extent financed with (x)&nbsp;insurance proceeds paid on
account of the loss or damage to the assets being replaced, restored or repaired or (y)&nbsp;awards of compensation arising from
the taking by eminent domain or condemnation of the assets being replaced, (ii)&nbsp;that portion of the gross purchase price of
equipment that is purchased simultaneously with the trade-in of existing equipment that represents the credit granted by the seller
of such equipment for the equipment being traded in at such time, or (iii)&nbsp;the purchase of assets that would otherwise constitute
Capital Expenditures to the extent financed with the proceeds of any Disposition permitted hereunder. Notwithstanding anything
herein to the contrary, (x) vehicle leases entered into in the ordinary course of business shall not constitute Capital Expenditures
and (y) Permitted Acquisitions of all or substantially all of the assets of a Person shall not constitute Capital Expenditures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capital Lease</I>&rdquo;
means any lease of Property which in accordance with GAAP is required to be capitalized on the balance sheet of the lessee; <I>provided</I>
that, no operating lease shall constitute a Capital Lease by virtue of a change in GAAP occurring after the Closing Date. Each
Capital Lease in effect on the Closing Date is set forth on Schedule 1-A attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Capitalized
Lease Obligation&rdquo;</I> means, for any Person, the amount of the liability shown on the balance sheet of such Person in respect
of a Capital Lease determined in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Cash Equivalents&rdquo;</I>
means, as to any Person: (a)&nbsp;investments in direct obligations of, or fully guaranteed by, the United States of America or
of any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of
America, <I>provided</I> that any such obligations shall mature within one year of the date of acquisition thereof; (b)&nbsp;investments
in commercial paper rated at least P-1 by Moody&rsquo;s or at least A-1 by S&amp;P (or, if at any time neither Moody&rsquo;s or
S&amp;P shall be rating such obligations, an equivalent rating from another nationally recognized rating service) maturing within
one year of the date of issuance thereof; (c)&nbsp;certificates of deposit or bankers&rsquo; acceptances maturing within one year
from the date of acquisition thereof and issued or accepted by any Lender or by any commercial bank organized under the laws of
the United States of America or any state thereof or the District of Columbia that (i) is at least &ldquo;adequately capitalized&rdquo;
(as defined in the regulations of its primary federal banking regulator) and (ii) has Tier 1 capital (as defined in such regulations)
of not less than $100,000,000; (d)&nbsp;investments in repurchase obligations with a term of not more than seven (7)&nbsp;days
for underlying securities of the types described in clause&nbsp;(a) above entered into with any bank meeting the qualifications
specified in clause&nbsp;(c) above, provided all such agreements require physical delivery of the securities securing such repurchase
agreement, except those delivered through the Federal Reserve Book Entry System; and (e) marketable short-term money market or
similar securities having a rating of at least P-2 by Moody&rsquo;s or A-2 by S&amp;P (or, if at any time neither Moody&rsquo;s
or S&amp;P shall be rating such obligations, an equivalent rating from another nationally recognized rating service).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Cash Interest
Rate&rdquo; </I>means thirteen percent (13.00%) per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Change in
Law&rdquo;</I> means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect
of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation,
implementation or application thereof by any Governmental Authority, or (c) the making or issuance of any request, rule, guideline
or directive (whether or not having the force of law) by any Governmental Authority; <I>provided</I>, that notwithstanding anything
herein to the contrary, (x)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations,
guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or
the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a &ldquo;Change
in Law&rdquo;, regardless of the date enacted, adopted or issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Change of
Control&rdquo;</I> means any of (a)&nbsp;the acquisition by any <I>&ldquo;person&rdquo;</I> or <I>&ldquo;group&rdquo;</I> (as such
terms are used in sections&nbsp;13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) (other than Permitted Holders)
at any time of beneficial ownership of fifty percent (50%) or more of the outstanding Ownership Interests of Limbach, Inc. on a
fully-diluted basis; (b) Limbach, Inc. shall fail to own one hundred percent (100%) of the Ownership Interests of the Parent, (c)
the Parent shall fail to own one hundred percent (100%) of the Ownership Interests of the Borrower or any of its other Subsidiaries,
(d) the Borrower shall fail to own, directly or indirectly, one hundred percent (100%) of the Ownership Interests of any of its
Subsidiaries that are Guarantors or that are required to be Guarantors under this Agreement, (e) during any period of twelve (12)
consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease
to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period,
(ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause
(i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to
in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent
governing body; or (f) any &ldquo;Change of Control&rdquo; (or words of like import), as defined in any agreement or indenture
relating to any issue of Material Indebtedness (including the Senior Facility Debt) of any Loan Party shall occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Closing Date&rdquo;</I>
means the date of this Agreement or such later Business Day upon which each condition described in Section&nbsp;3.1 shall be satisfied
or waived in a manner acceptable to the Agent in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Code&rdquo;</I>
means the Internal Revenue Code of 1986, or any successor statute thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Commodity
Exchange Act</I>&rdquo; means the Commodity Exchange Act (7 U.S.C. &sect; 1 et seq.).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Connection
Income Taxes&rdquo;</I> means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Contingent
Obligation&rdquo;</I> means as to any Person, any obligation of such Person guaranteeing or intended to guarantee any Indebtedness
(<I>&ldquo;primary obligations&rdquo;</I>) of any other Person (the <I>&ldquo;primary obligor&rdquo;</I>) in any manner, whether
directly or indirectly, including, any obligation of such Person, whether or not contingent, (a)&nbsp;to purchase any such primary
obligation or any Property constituting direct or indirect security therefor, (b)&nbsp;to advance or supply funds (i)&nbsp;for
the purchase or payment of any such primary obligation or (ii)&nbsp;to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c)&nbsp;to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to
make payment of such primary obligation or (d)&nbsp;otherwise to assure or hold harmless the holder of such primary obligation
against loss in respect thereof; <I>provided, however,</I> that the term Contingent Obligation shall not include endorsements of
instruments for deposit or collection in the ordinary course of business or entered into in the ordinary course of business in
connection with any contractual arrangement, including any Acquisition, Capital Expenditure, Investment or disposition of assets
permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Contingent Obligation
shall be deemed to be the amount required to be reflected on the financial statements of a Person determined in accordance with
GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Controlled
Group&rdquo;</I> means all members of a controlled group of corporations, limited liability companies, partnerships and all trades
or businesses (whether or not incorporated) under common control which, together with any Loan Party, are treated as a single employer
under Section&nbsp;414(b) or (c) of the Code and, for purposes of Section 302 of ERISA and Section 412 of the Code, under Section
414(b), (c), (m), and (o) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Conversion
Date&rdquo; </I>means the date upon which any Conversion Event occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Conversion
Event&rdquo; </I>is defined in Section 2.4(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Conversion
Price&rdquo; </I>means, with respect to the Deferred Interest capitalized pursuant to Section 2.4(b) on any Interest Payment Date,
ten dollars ($10.00) per share, subject to appropriate adjustment in the event of any subdivision (by stock split, stock dividend
or otherwise) or any combination (by reverse stock split or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Conversion
Shares&rdquo;</I> is defined in Section 2.4(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Damages&rdquo;</I>
means all damages, including punitive damages (if payable to a third party), liabilities, costs, expenses, losses, judgments, fines,
penalties, demands, claims, cost recovery actions, lawsuits, administrative proceedings, orders, response action, removal and remedial
costs, compliance costs, investigation expenses, consultant fees, attorneys&rsquo; and paralegals&rsquo; fees and litigation expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Debtor Relief
Laws&rdquo;</I> means the United States Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for
the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of
the United States of America or other applicable jurisdictions from time to time in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Default&rdquo;</I>
means any event or condition the occurrence of which would, with the passage of time or the giving of notice, or both, constitute
an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Deferred
Interest&rdquo; </I>is defined in Section 2.4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Deferred
Interest Principal&rdquo; </I>is defined in Section 2.4(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Deferred
Interest Rate&rdquo;</I> means three percent (3.00%) per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Disposition&rdquo;</I>
means the sale, lease, conveyance or other disposition of Property, other than sales or other dispositions expressly permitted
under Sections 6.13(a) or6.13(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Dollars&rdquo;</I>
and <I>&ldquo;$&rdquo;</I> each means the lawful currency of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Duly Authorized
Officer&rdquo; </I>means the President, Chief Executive Officer, the Chief Financial Officer, any Vice-President, the Treasurer
(if at any time applicable), and the Secretary of each Loan Party, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;EBITDA&rdquo;</I>
means, with reference to any period, Net Income for such period <I>plus</I>, without duplication,the sum of all amounts deducted
in arriving at such Net Income amount in respect of (a)&nbsp;Interest Expense for such period, (b)&nbsp;federal, state, and local
income taxes for such period, (c)&nbsp;depreciation of fixed assets and amortization of intangible assets for such period, (d)&nbsp;transaction
expenses incurred during such period in connection with Permitted Acquisitions, whether or not consummated, not to exceed $50,000
in the aggregate during such period, (e) all fees and expenses paid in cash by the Borrower and its Subsidiaries during such period
and paid on or before that date occurring six months after the Closing Date in connection with this Agreement and the Related Transactions
in an aggregate amount not to exceed $2,500,000 and (f) losses or other charges related to Legacy Claims during such period in
an amount not to exceed $500,000 during such period and in an aggregate amount not to exceed $2,500,000 during the term of this
Agreement; <I>provided</I> that, for each fiscal quarter ending on the dates set forth below, &ldquo;EBITDA&rdquo; shall be equal
to the corresponding amount set forth below for each such respective quarter and EBITDA for the fiscal quarter ending June 30,
2016 shall mean the actual EBITDA for the period then ending calculated in accordance with the foregoing definition plus the amounts
set forth on Schedule 1-B:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: justify; text-indent: 0in">September 30, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 20%; text-align: right">3,346,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: 0in">December 31, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,068,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: 0in">March 31, 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,311,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Eligible
Assignee&rdquo;</I> means any Person that meets the requirements to be an assignee under Section&nbsp;10.9(b)(iii), 10.9(b)(v)
and 10.9(b)(vi) (subject to such consents, if any, as may be required under Section&nbsp;10.9(b)(iii)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Environmental
Claim&rdquo; </I>means any investigation, notice of violation, demand, allegation, action, suit, injunction, judgment, order, consent
decree, penalty, fine, lien, proceeding or claim (whether administrative, judicial or private in nature) arising pursuant to or
in connection with: (a)&nbsp;an actual or alleged violation of any Environmental Law, (b)&nbsp;any Hazardous Material, (c)&nbsp;any
actual or threatened abatement, removal, investigation, remediation or corrective or response action required by Environmental
Laws or any Governmental Authority, or (d)&nbsp;any actual or alleged damage, injury, threat or harm to human health, safety natural
resources or the environment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Environmental
Law&rdquo;</I> means any applicable Legal Requirement pertaining to (a)&nbsp;the protection, conservation, use or management of
the environment, human health and safety, natural resources and wildlife, (b)&nbsp;the protection or use of surface water or groundwater,
(c)&nbsp;the management, manufacture, possession, presence, use, generation, transportation, treatment, storage, disposal, Release,
threatened Release, investigation, abatement, removal, remediation or handling of, or exposure to, any Hazardous Material, or (d)
any Release of Hazardous Materials to air, land, surface water or groundwater, and any amendment, rule, regulation, order or directive
issued thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;ERISA&rdquo;</I>
means the Employee Retirement Income Security Act of 1974.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;ERISA Event&rdquo;</I>
means (a) a reportable event as described in Section 4043(c) of ERISA (unless the 30-day notice requirement has been waived under
applicable regulations) with respect to a Plan; (b) the withdrawal of the Loan Party or any member of its Controlled Group from
a Plan subject to Section 4063 of ERISA during a plan year in which such entity was a &ldquo;substantial employer&rdquo; as defined
in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA;
(c) a complete or partial withdrawal by the Loan Party or any member of its Controlled Group from a Multiemployer Plan or notification
that a Multiemployer Plan is in reorganization; (d) the filing of a notice of reorganization, insolvency or termination (or the
treatment of a plan amendment as a termination) under Section 4041 or 4041A of ERISA; (e) the termination of a Plan or the filing
of a notice to terminate a Plan under Section 4041(c) of ERISA; (f) the institution by the PBGC of proceedings to terminate a Plan;
(g) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Plan; (h) the determination that any Plan is considered an at-risk plan within the meaning of Section
430 of the Code or Section 303 of ERISA; (i) the determination that any Multiemployer Plan is in critical or at-risk status within
the meaning of Section 432 of the Code or Section 305 of ERISA; (j)&nbsp;the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Loan Party or any member of its Controlled
Group; or (k) a failure by the Loan Party or any member of its Controlled Group to meet all applicable requirements regarding minimum
required contributions set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA
in respect of a Plan, whether or not waived, or the failure by the Loan Party or any member of its Controlled Group to make any
required contribution to a Multiemployer Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Event of
Default&rdquo;</I> means any event or condition identified as such in Section&nbsp;7.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Event of
Loss&rdquo;</I> means, with respect to any Property, any of the following: (a)&nbsp;any loss, destruction or damage of such Property
or (b)&nbsp;any condemnation, seizure, or taking, by exercise of the power of eminent domain or otherwise, of such Property, or
confiscation of such Property or the requisition of the use of such Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Excess Interest</I>&rdquo;
is defined in Section 10.16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Excluded
Equity Issuances</I>&rdquo; means the issuance by any Subsidiary of equity securities to the Borrower or any Guarantor, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Excluded
Taxes&rdquo;</I> means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan (or otherwise pursuant
to any Loan Document) pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or becomes
a party to this Agreement (other than pursuant to an assignment request by the Borrower under Section 10.2(b)) or (ii) such Lender
changes its lending office, except in each case to the extent that, pursuant to Section 10.1, amounts with respect to such Taxes
were payable either to such Lender&rsquo;s assignor immediately before such Lender became a party hereto or to such Lender immediately
before it changed its lending office, (c) Taxes attributable to such Lender&rsquo;s failure to comply with Section 10.1(g), and
(d) any U.S. federal withholding Taxes imposed under FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;FATCA&rdquo;</I>
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version of such sections
that are substantively comparable and not materially more onerous to comply with) and any current or future regulations or official
interpretations thereof (including any Revenue Ruling, Revenue Procedure Notice or similar guidance issued by the U.S. Internal
Revenue Service as a precondition to relief or exemption from taxes under such provisions), and any agreements entered into pursuant
to Section&nbsp;1471(b)(1) of the Code and any intergovernmental agreement entered into in connection with the implementation of
such Sections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Fixed Charge
Coverage Ratio&rdquo;</I> means, at any time the same is to be determined, the ratio of (a)&nbsp;EBITDA for the four consecutive
fiscal quarters of the Borrower and its Subsidiaries then most recently ended <I>less </I>Capital Expenditures made by the Borrower
and its Subsidiaries during the same four consecutive fiscal quarters not financed with Indebtedness to (b)&nbsp;Fixed Charges
for the same four consecutive fiscal quarters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Fixed Charges&rdquo;</I>
means, with reference to any period, the sum of (a)&nbsp;all scheduled payments of principal made or to be made during such period
with respect to Indebtedness (for clarity, excluding mandatory prepayments pursuant to Section 2.8(b)(v) of the Senior Credit Agreement)
(<I>&ldquo;Principal Payments&rdquo;</I>) of the Borrower and its Subsidiaries, <I>plus</I> (b)&nbsp;the cash portion of any Interest
Expense for such period, <I>plus</I> (c)&nbsp;Restricted Payments made by the Borrower and its Subsidiaries during such period
(including, for the avoidance of doubt, Tax Distributions made during such period), <I>plus</I> (d)&nbsp;without duplication federal,
state, and local income taxes paid in cash by the Borrower and its Subsidiaries during such period. For purposes of calculating
Fixed Charges for any period prior to the quarter ending September 30, 2017, (x) scheduled payments of principal shall be deemed
for all periods included in such calculation to be an aggregate of $3,000,000 and (y) the cash portion of any Interest Expense
for such period shall mean (A) for the fiscal quarter ending September 30, 2016, the actual cash Interest Expense for such quarter
multiplied by 4, (B) for the fiscal quarter ending December 31, 2016, the actual cash Interest Expense for the fiscal quarters
ending September 30, 2016 and December 31, 2016 multiplied by 2, and (C) for the fiscal quarter ending March 31, 2017, the actual
cash Interest Expense for the fiscal quarters ending September 30, 2016, December 31, 2016 and March 31, 2017 multiplied by 4/3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Florida Property</I>&rdquo;
means that certain parcel of real property located at 5401 Benchmark Lane, Sanford, Florida 32773.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Foreign Lender&rdquo;</I>
means a Lender that is not a U.S. Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;GAAP&rdquo;</I>
means generally accepted accounting principles set forth from time to time in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the U.S. accounting profession),
which are applicable to the circumstances as of the date of determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Governmental
Authority&rdquo; </I>means the government of the United States of America, any other nation or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central Bank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guarantee&rdquo;</I>
of or by any Person (the <I>&ldquo;guarantor&rdquo;</I>) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the <I>&ldquo;primary obligor&rdquo;</I>)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a)&nbsp;to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (b)&nbsp;to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c)&nbsp;to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to
enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of
credit or letter of guaranty issued to support such Indebtedness or obligation; <I>provided</I> that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guaranteed
Obligations&rdquo;</I> means the Obligations, whether now existing or hereafter arising, due or to become due, direct or indirect,
absolute or contingent, and howsoever evidenced, held or acquired (including all interest, costs, fees, and charges after the entry
of an order for relief against any Loan Party in a case under the United States Bankruptcy Code or any similar proceeding, whether
or not such interest, costs, fees and charges would be an allowed claim against such Loan Party in any such proceeding).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guarantors&rdquo;</I>
means and includes the Parent, each direct and indirect Subsidiary of the Borrower, and the Borrower, in its capacity as a guarantor
of the Obligations of another Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guaranty
Agreements&rdquo;</I> means and includes the Guarantee of the Loan Parties provided for in Section&nbsp;11, and any other guaranty
agreement executed and delivered in order to guarantee the Obligations or any part thereof in form and substance acceptable to
the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hazardous
Material&rdquo; </I>means any hazardous, toxic or harmful chemical, substance, waste, compound, material, product or byproduct
subject to or regulated under Environmental Laws, including but not limited to radon, asbestos, polychlorinated biphenyls, petroleum
(including crude oil or any fraction thereof) and lead.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hedge Agreement&rdquo;</I>
means any (a) agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of these transactions; <I>provided</I> that no phantom stock or similar plan providing for payments only on account of services
provided by current or former directors, officers, employees or consultants of any Loan Party or its Subsidiaries shall be a Hedge
Agreement or (b) any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International
Foreign Exchange Master Agreement, or any other similar master agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Hostile Acquisition&rdquo;</I>
means the acquisition of the Ownership Interests of a Person through a tender offer or similar solicitation of the owners of such
Ownership Interests which has not been approved (prior to such acquisition) by resolutions of the board of directors of such Person
or by similar action if such Person is not a corporation, and, if such acquisition has been so approved, as to which such approval
has not been withdrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indebtedness&rdquo;</I>
means for any Person (without duplication) (a)&nbsp;all indebtedness of such Person for borrowed money, whether current or funded,
or secured or unsecured, (b)&nbsp;all indebtedness of such Person for the deferred purchase price of Property or services, (c)&nbsp;all
indebtedness created or arising under any conditional sale or other title retention agreement with respect to Property acquired
by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of a default are
limited to repossession or sale of such Property), (d)&nbsp;all indebtedness of such Person secured by a purchase money mortgage
or other Lien to secure all or part of the purchase price of Property subject to such mortgage or Lien, whether or not such Person
has assumed or become liable for the payment of such indebtedness, (e)&nbsp;all indebtedness secured by any Lien upon property
of such Person, (f)&nbsp;all Capitalized Lease Obligations of such Person, (g)&nbsp;any existing reimbursement, payment or similar
obligations of such Person in respect of bankers&rsquo; acceptances, letters of credit and other extensions of credit whether or
not representing obligations for borrowed money, (h) all obligations of such Person to purchase, redeem, retire, defease or otherwise
make any payment in respect of any Ownership Interest in such Person or any other Person or any warrant, right or option to acquire
such Ownership Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends, (i)&nbsp;all obligations of such Person under any Hedge Agreement (in
each case valued as the termination value thereof computed in accordance with a method approved by the International Swap Dealers
Association and agreed to by such Person in the applicable agreement, if any), (j)&nbsp;any indebtedness, whether or not assumed,
secured by Liens on Property acquired by such Person at the time of acquisition thereof, (k)&nbsp;all obligations under any so-called
&ldquo;synthetic lease&rdquo; transaction entered into by such Person, (l)&nbsp;all obligations under any so-called &ldquo;asset
securitization&rdquo; transaction entered into by such Person, and (m)&nbsp;all Contingent Obligations of such Person in respect
of indebtedness referred to in clauses (a) through (l) above, it being understood that the term &ldquo;Indebtedness&rdquo; shall
not include (i) payables, purchase orders, and accrued expenses arising in the ordinary course of business or (ii) &nbsp;obligations
of such Person in respect of (x)&nbsp;payment of bonuses or other deferred compensation to employees of such Person or any of its
Subsidiaries, (y)&nbsp;any purchase price adjustment, earnout or deferred payment obligation of a similar nature incurred in connection
with an Acquisition, and (z) deposits from customers. For the avoidance of doubt, any premiums payable under the Bonding Agreements
shall not be Indebtedness unless not paid when due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indemnified
Taxes&rdquo; </I>means (a) all Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Indemnitee&rdquo;</I>
is defined in Section 10.12(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Interest
Expense&rdquo;</I> means, with reference to any period, the sum of all interest charges (including imputed interest charges with
respect to Capitalized Lease Obligations and all amortization of debt discount and expense, and other banking fees, discounts,
charges and commissions) of the Borrower and its Subsidiaries for such period determined on a consolidated basis in accordance
with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Interest
Payment Date&rdquo;</I> is defined in Section 2.4(a).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Inventory&rdquo;</I>
means &ldquo;inventory&rdquo; as defined in the UCC, including, without limitation, any and all inventory and goods of each Loan
Party, wheresoever located, whether now owned or hereafter acquired by such Loan Party, which are held for sale or lease, furnished
under any contract of service or held as raw materials, work-in-process or supplies, and all materials used or consumed in such
Loan Party&rsquo;s business, and shall include such property the sale or other disposition of which has given rise to Accounts
and which has been returned to or repossessed or stopped in transit by such Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Investment&rdquo;
</I>means any investment in any Person, whether by means of a loan or advance, guarantee of obligations, purchase of equity or
obligations, acquisition of all or any substantial part of the assets or business of any Person or any division thereof, entry
into joint ventures or partnerships, purchase or ownership of a futures contract or otherwise becoming liable for the purchase
or sale of currency or other commodities at a future date in the nature of a futures contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;IRS&rdquo;</I>
means the United States Internal Revenue Service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Legacy Claims&rdquo;</I>
means charges and/or losses pertaining to the pending litigation arising out of the contracts or construction projects commonly
known as SCI Fayette and Wilshire Vermont as described on Schedule 5.5 to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Legal Requirement&rdquo;</I>
means any treaty, convention, statute, law, common law, regulation, ordinance, license, permit, governmental approval, injunction,
judgment, order, consent decree, restriction or other requirement of any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lenders&rdquo;</I>
means and includes the banks, financial institutions and other lenders from time to time party to this Agreement, as a &ldquo;Lender&rdquo;
hereunder, including each assignee Lender pursuant to Section&nbsp;10.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lien&rdquo;
</I>means any lien, mortgage, deed of trust, pledge, assignment as collateral security, security interest, charge, or encumbrance
in the nature of security in respect of any Property, including the interests of a vendor or lessor under any conditional sale,
Capital Lease or other title retention arrangement, and any option, trust, authorized UCC financing statement or other preferential
arrangement having the practical effect of any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Limbach,
Inc.&rdquo;</I> means Limbach Holdings, Inc., a Delaware corporation, which entity was named 1347 Capital Corp. prior to the consummation
of the Required Merger and the Related Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Limbach Stock&rdquo;
</I>means the common stock of Limbach, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&rdquo;Liquidation
Shares&rdquo; </I>means the number of shares of Limbach Stock equal to (i) the portion of the Deferred Interest Principal being
converted divided by (ii) the five day weighted trading average of a share of Limbach Stock for the five Business Days preceding
the Conversion Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan&rdquo;</I>
is defined in Section 2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan Documents&rdquo;</I>
means this Agreement, the Notes (if any), the Guaranty Agreements, the Senior Subordination Agreement, the Surety Subordination
Agreement, the Subordination Agreements and each other agreement, instrument or document to be delivered hereunder or thereunder
or otherwise in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Loan Party&rdquo;</I>
means the Borrower and each of the Guarantors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Margin Stock&rdquo;
</I>shall have the meaning given to such term in Regulation U of the Board of Governors of the Federal Reserve System.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Material
Adverse Effect&rdquo;</I> means (a) a material adverse change in, or material adverse effect upon, the business, condition (financial
or otherwise), operations, performance or Properties of the Borrower or of the Loan Parties taken as a whole, (b)&nbsp;a material
impairment of the ability of any Loan Party to perform its material obligations under any Loan Document or (c)&nbsp;a material
adverse effect upon &nbsp;the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document
or the rights and remedies of the Agent and the Lenders thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Material
Agreement&rdquo;</I> means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) for the lease of personal property to or from any Person providing for lease payments
in excess of $1,100,000 per annum;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) for the purchase or sale of raw materials, commodities, supplies, products, or other
personal property, or for the furnishing or receipt of services, other than in the ordinary course of business, the term of which
extends over a period of more than one year from the date hereof or which involves consideration in excess of $825,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement concerning a partnership or joint venture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement (or group of related agreements) under which Borrower or any of its Subsidiaries has created, incurred, assumed, or guaranteed
any Indebtedness, or any Capitalized Lease Obligation, in excess of $825,000 or under which a Person has imposed a lien on any
of the Borrower&rsquo;s or its Subsidiaries&rsquo; Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[reserved];</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement for the employment of any individual on a full-time, part-time, consulting, or other basis providing annual compensation
in excess of $550,000 or providing material severance benefits;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement under which the consequences of a default or termination would have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
agreement under which Borrower or any Subsidiary of the Borrower has loaned any Person, other than an officer, manager or director
of the Borrower or any Subsidiary of the Borrower, amounts in the aggregate exceeding $825,000; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
agreement (or group of related agreements) entered into other than in the ordinary course of business, the performance of which
involves consideration in excess of $825,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Maximum Rate&rdquo;
</I>is defined in Section 10.16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Merger Agreement&rdquo;</I>
means that certain Agreement and Plan of Merger, dated as of March 23, 2016, by and between the Parent and Limbach, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Moody&rsquo;s&rdquo;</I>
means Moody&rsquo;s Investors Service, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Multiemployer
Plan&rdquo;</I> means any employee benefit plan described in Section 4001(a)(3) of ERISA, to which a Loan Party or any member of
the Controlled Group makes or is obligated to make contributions, or during the preceding five plan years, has made or has been
obligated to make contributions or to which a Loan Party or member of the Controlled Group may have liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Net Cash
Proceeds&rdquo;</I> means, as applicable, (a)&nbsp;with respect to any Disposition by a Person, cash and cash equivalent proceeds
received by or for such Person&rsquo;s account, net of (i)&nbsp;reasonable direct costs relating to such Disposition, (ii)&nbsp;sale,
use or other transactional taxes paid or payable (or, without duplication Tax Distributions) by such Person as a direct result
of such Disposition, (iii)&nbsp;the amount of any reserves established to fund contingent liabilities reasonably estimated to be
payable (the <I>&ldquo;Reserve Cash Proceeds&rdquo;</I>) in each case during the year that such Disposition occurred or in the
next succeeding year (the <I>&ldquo;Reserve Period&rdquo;</I>) and that are directly attributable to such Disposition (as determined
reasonably and in good faith by a Duly Authorized Officer); <I>provided</I> that (A) the Borrower has provided the Agent written
notice of such Reserve Cash Proceeds prior to or contemporaneously upon receiving such cash proceeds and (B) any and all Reserve
Cash Proceeds that have not been used to pay such liabilities shall be paid ratably to the Lenders on the last day of the applicable
Reserve Period, and (iv)&nbsp;the amount of any Indebtedness secured by a Lien on the asset and discharged from the proceeds of
such Disposition, (b)&nbsp;with respect to any Event of Loss of a Person, cash and cash equivalent proceeds received by or for
such Person&rsquo;s account (whether as a result of payments made under any applicable insurance policy therefor or in connection
with condemnation proceedings or otherwise), net of (i)&nbsp;reasonable direct costs incurred in connection with the collection
of such proceeds, awards or other payments and (ii)&nbsp;all money actually applied to repair or reconstruct the damaged Property
or Property affected by the condemnation or taking, and (c)&nbsp;with respect to any offering of Ownership Interests of a Person
or the issuance of any Indebtedness by a Person, cash and cash equivalent proceeds received by or for such Person&rsquo;s account,
net of reasonable legal, underwriting, and other fees and expenses incurred as a direct result thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Net Income&rdquo;</I>
means, with reference to the applicable period, the net income (or net loss) of the Borrower and its Subsidiaries for such period
computed on a consolidated basis in accordance with GAAP; <I>provided </I>that there shall be excluded from Net Income:(a) extraordinary
gains and losses reasonably acceptable to the Agent in its Permitted Discretion, (b) non-cash gains and losses realized on any
Disposition, (c) the cumulative effect of a change in accounting principles and (d)&nbsp;non-cash write ups and write downs resulting
from purchase accounting adjustments other than goodwill, inventory and accounts receivable in connection with a Permitted Acquisition;
<I>provided further</I> that, there shall also be excluded from Net Income (x)&nbsp;the net income (or net loss) of any Person
accrued prior to the date it becomes a Subsidiary of, or has merged into or consolidated with, the Borrower or another Subsidiary,
<I>except to the extent that the Borrower has delivered the financial statements of the Acquired Business for such period, which
financial statements shall have been reviewed or audited by an independent accounting firm reasonably satisfactory to the Agent,
and the Agent agrees to the inclusion of such net income (or net loss) of such Person</I>, (y)&nbsp;the net income (or net loss)
of any Person (other than a Subsidiary) in which the Borrower or any of its Subsidiaries has an Ownership Interest in, except to
the extent of the amount of dividends or other distributions actually paid to the Borrower or any of its Subsidiaries during such
period, and (z)&nbsp;the undistributed earnings of any Subsidiary to the extent that the declaration or payment of dividends or
similar distributions by such Subsidiary is not at the time permitted by the terms of any contractual obligation (other than under
any Loan Document) or Legal Requirement applicable to such Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Consenting
Lender&rdquo;</I> means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all
affected Lenders or all Lenders, in each instance in accordance with the terms of Section&nbsp;10.10, and (b) has been approved
by the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Note&rdquo;</I>
is defined in Section&nbsp;2.12(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Obligations&rdquo;</I>
means all obligations of the Borrower to pay principal and interest on the Loans (including all after the commencement of an insolvency
proceeding regardless of whether allowed or allowable in whole or in part as a claim in such insolvency proceeding), all fees and
charges payable hereunder, and all other payment obligations of any Loan Party arising under or in relation to any Loan Document,
in each case whether now existing or hereafter arising, due or to become due, direct or indirect, absolute or contingent, and howsoever
evidenced, held or acquired, and including all interest costs, fees, and charges after commencement of an insolvency proceeding
regardless of whether allowed or allowable in whole or in part as a claim in such insolvency proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>OFAC</I>&rdquo;
means the United States Department of Treasury Office of Foreign Assets Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Original
Principal&rdquo; </I>means the outstanding principal amount of the Loans that is not Deferred Interest Principal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Organization
Documents&rdquo;</I> means, (a) for any corporation, the certificate or articles of incorporation, the bylaws, or code of regulations,
or other similar document and any certificate of designations or instrument relating to the rights of shareholders of such corporation,
(b) for any partnership, the partnership agreement or other similar agreement and, if applicable, certificate of limited partnership,
(c) for any limited liability company, the operating agreement, limited liability company agreement, or other similar agreement,
and articles or certificate of formation of such limited liability company, and (d) with respect to any joint venture, trust or
other form of business entity, the joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental
Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or
organization of such entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Other Connection
Taxes&rdquo;</I> means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a Lien under, engaged in any
other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Other Taxes&rdquo;</I>
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment
made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed
with respect to an assignment (other than an assignment made pursuant to Section 10.2(b)<FONT STYLE="font-size: 10pt">)</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Ownership
Interest&rdquo;</I> means all shares, interests, participations, rights to purchase, rights to transfer, rights to control, options,
warrants, general or limited partnership interests, limited liability company interests or other equivalents (regardless of how
designated) of or in a corporation, partnership, limited liability company or equivalent entity, whether voting or nonvoting, including
common stock, preferred stock or any other &ldquo;equity security&rdquo; (as such term is defined in Rule 3a11-1 of the Rules and
Regulations promulgated by the Securities and Exchange Commission (17 C.F.R. &sect;&nbsp;240.3a11-1) under the Securities and Exchange
Act of 1934).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Parent&rdquo;</I>
is defined in the introductory paragraph of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participant&rdquo;</I>
is defined in Section&nbsp;10.9(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Participant
Register&rdquo; </I>is defined in Section 10.9(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Patriot Act&rdquo;
</I>means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act
of 2001, Pub. L. 107-56.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;PBGC&rdquo;</I>
means the Pension Benefit Guaranty Corporation or any Person succeeding to any or all of its functions under ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Percentage&rdquo;</I>
means, for each Lender, the percentage held by such Lender of the aggregate principal amount of all Loans then outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Perfection
Certificate&rdquo;</I> means that certain Perfection Certificate dated as of the Closing Date from the Borrower to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Acquisition&rdquo;</I> means any Acquisition with respect to which all of the following conditions shall have been satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Acquired Business is in the same line of business engaged in as of the date of this Agreement by the Borrower and any of its Subsidiaries
or a Related Line of Business and has its primary operations in the United States of America;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Acquisition shall not be a Hostile Acquisition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Total Consideration for the Acquired Business, when taken together with the Total Consideration for all Acquired Businesses acquired
during the immediately preceding 12-month period, shall not exceed $2,500,000 in the aggregate during such period, or $10,000,000
in the aggregate during the term of this Agreement or such greater amount as approved by the Required Lenders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall have notified the Agent and Lenders not less than fifteen (15) days (or such shorter time period as may be agreed
to by the Agent and the Required Lenders) prior to any such Permitted Acquisition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
a new Subsidiary is formed or acquired as a result of or in connection with the Acquisition, the Borrower shall have complied with
the requirements of Section&nbsp;4 in connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
financial statements of the Acquired Business shall have been audited by a nationally recognized independent accounting firm or
have undergone a review by an accounting firm reasonably acceptable to the Agent or a quality of earnings report shall have been
furnished to the Agent from a firm reasonably acceptable to the Agent; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the Borrower shall have (x) Unused Revolving Credit Commitments (as defined in the Senior Credit Agreement) plus unrestricted cash
and Cash Equivalents and (y) Borrowing Base Availability (as defined in the Senior Credit Agreement) plus unrestricted cash and
Cash Equivalents, in each case, of at least $10,000,000 and (ii) no Default or Event of Default shall exist, including with respect
to the covenants contained in Section&nbsp;6.20<B> </B>on a <I>pro forma </I>basis, <I>provided</I> that the Total Leverage Ratio
on a <I>pro forma </I>basis shall be no greater than 0.25 less than the most recently applicable Total Leverage Ratio level, and
the Borrower shall have delivered to the Agent a compliance certificate in the form of Exhibit&nbsp;E attached hereto evidencing
such compliance with Section 6.20.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the avoidance of
doubt, the Loan Parties may enter into joint ventures (including Special Purpose Joint Ventures) in accordance with the terms of
this Agreement, and no joint venture shall be deemed to be a Permitted Acquisition hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Discretion&rdquo;</I> means a reasonable determination made by the Agent in good faith and in the exercise of reasonable business
judgment from the perspective of an unsecured lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Holders&rdquo;</I> means F<I>d</I>G HVAC LLC, Limbach Management Holding Company, LLC, Marathon Special Opportunity Master Fund,
Ltd. and Charles A. Bacon III.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Lien&rdquo;</I> is defined in Section&nbsp;6.12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Person&rdquo;</I>
means any natural person, partnership, corporation, limited liability company, association, trust, unincorporated organization
or any other entity or organization, including a Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Plan&rdquo;</I>
means any employee pension benefit plan covered by Title&nbsp;IV of ERISA or subject to the minimum funding standards under Section&nbsp;412
of the Code, but excluding any Multiemployer Plan, that is maintained or contributed to, or during the preceding five plan years,
has been maintained or contributed to by a Loan Party or by a member of the Controlled Group or to which a Loan Party or member
of the Controlled Group may have liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Prepayment
Premium&rdquo;</I> means (i) if such prepayment occurs prior to the first anniversary of the Closing Date, three percent (3%) of
the principal amount of the Loans being prepaid <U>plus</U> all interest that would be due on the Loans if the same had remained
outstanding until the first anniversary of the Closing Date and (ii) if such prepayment occurs on or after the first anniversary
of the Closing Date and on or prior to the second anniversary of the Closing Date, three percent (3%) of the principal amount of
the Loans being prepaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Property&rdquo;</I>
means, as to any Person, all types of real, personal, tangible, intangible or mixed property owned by such Person whether or not
included in the most recent balance sheet of such Person and its Subsidiaries under GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Recipient&rdquo;</I>
means (a) the Agent and (b) any Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Register&rdquo;</I>
is defined in Section 10.9(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Agreements&rdquo;</I>
means the Bonding Agreements<B> </B>and the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Line
of Business&rdquo;</I> means engineering, design, construction and service/maintenance of general trades, mechanical, electrical,
plumbing and/or fire protection business in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Parties&rdquo;</I>
means, with respect to any Person, such Person&rsquo;s Affiliates and the partners, directors, officers, employees, agents, trustees,
administrators, managers, advisors and representatives of such Person and of such Person&rsquo;s Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Related Transactions&rdquo;</I>
means the transactions contemplated by the Related Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Release&rdquo;</I>
means any placing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping,
disposing or migrating into the environment, including the exacerbation of existing environmental conditions and the abandonment
or discarding of barrels, drums, containers, tanks or other receptacles containing or previously containing any Hazardous Material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Bonding Facility&rdquo;</I> means a bonding facility of adequate size to support the work program of the Borrower and its Subsidiaries
and which is otherwise reasonably satisfactory to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Lenders&rdquo;</I> means, as of the date of determination thereof, Lenders whose outstanding Loans constitute more than 66 2/3%<B>
</B>of the sum of the total outstanding Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Required
Merger&rdquo;</I> means the acquisition and merger transaction contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Resignation
Effective Date&rdquo;</I> is defined in Section 9.7(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Restricted
Payments</I>&rdquo; means (i) any dividends on or any other distributions in respect of any class or series of Ownership Interests
and (ii) any purchase, redemption or other acquisition or retirement of Ownership Interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Retainage&rdquo;
</I>means any all compensation withheld from the Borrower by customers pursuant to the common construction contracting practice
commonly called or referred to as &ldquo;retainage&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;S&amp;P&rdquo;</I>
means Standard &amp; Poor&rsquo;s Ratings Services Group, a Standard &amp; Poor&rsquo;s Financial Services LLC business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctioned
Country</I>&rdquo; means a country or territory that is the subject of a Sanctions Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctioned
Person</I>&rdquo; means (a) a Person named on a Sanctions List, each Person owned or controlled by a Person named on a Sanctions
List, and each other Person that is subject to a Sanctions Program, (b) an agency or government of a Sanctioned Country, (c) an
organization controlled directly or indirectly by a Sanctioned Country, or (d) a Person resident in a Sanctioned Country, to the
extent subject to a Sanctions Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Event</I>&rdquo; means the event specified in Section&nbsp;6.21(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Lists</I>&rdquo; means, and includes, (a) the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC,
(b) the list of Sectoral Sanctions Identifications maintained by the U.S. Department of Treasury, (c) the list of Foreign Sanctions
Evaders maintained by the U.S. Department of Treasury, and (d) any similar list maintained by the U.S. State Department, the U.S.
Department of Commerce, the U.S. Department of Treasury, or any other U.S. Governmental Authority, or maintained by a Canadian
Governmental Authority, the United Nations Security Counsel, or the European Union.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Sanctions
Programs</I>&rdquo; means (a) all economic, trade, and financial sanctions programs administered by OFAC (including all laws, regulations,
and Executive Orders administered by OFAC), the U.S. State Department, and any other U.S. Governmental Authority, including the
Bank Secrecy Act, anti-money laundering laws (including the Patriot Act), and any and all similar United States federal laws, regulations
or Executive Orders, and any similar laws, regulations or orders adopted by any State within the United States, and (b) to the
extent applicable, all similar economic, trade, and financial sanctions programs administered, enacted, or enforced by the European
Union or the United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Agent&rdquo;
</I>means Fifth Third Bank, an Ohio banking corporation, as agent for the Senior Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Credit
Agreement&rdquo;</I> means that certain Credit Agreement dated as of the date hereof, among the Loan Parties, the Senior Agent,
and the Senior Lenders, as amended, modified, supplemented, restated or amended and restated from time to time in accordance with
the terms of the Senior Subordination Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Facility
Debt&rdquo;</I> has the meaning given to such term in the Senior Subordination Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Facility
Loan Documents&rdquo;</I> has the meaning given to such term in the Senior Subordination Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Lenders&rdquo;</I>
means the various financial institutions from time to time party to the Senior Credit Agreement as lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Subordination
Agreement&rdquo;</I> means that certain Subordination and Intercreditor Agreement dated as of the date hereof among the Agent,
the Senior Agent, and the Loan Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Solvent&rdquo;</I>
or <I>&ldquo;Solvency&rdquo;</I> means, when used with respect to any Person, that, as at any date of determination, (a)&nbsp;the
amount of the &ldquo;present fair saleable value&rdquo; of the assets of such Person will, as of such date, exceed the amount of
all &ldquo;liabilities of such Person, contingent or otherwise&rdquo; as of such date, as such quoted terms are determined in accordance
with applicable federal and state laws governing determinations of the insolvency of debtors, (b)&nbsp;such Person will not have,
as of such date, an unreasonably small amount of capital with which to conduct its business, and (c)&nbsp;such Person will be able
to pay its debts as they mature. The amount of contingent liabilities at any time shall be computed as the amount that, in the
light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become
an actual or matured liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Special Purpose
Joint Venture</I>&rdquo; means a joint venture entered into by one of the Loan Parties with another Person solely with respect
to a particular contract, project or job and in which a subcontract is awarded to one of the Loan Parties from such joint venture
entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Stated Interest
Rate&rdquo;</I> means sixteen percent (16.00%) per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Subordinated
Debt</I>&rdquo; means any Indebtedness of the Parent and its Subsidiaries owing to a Person by that is subordinated in right of
payment to the prior payment of the Obligations pursuant to subordination provisions approved in writing by the Agent in its reasonable
discretion, which Indebtedness shall have interest rates, payment terms, maturities, amortization schedules, covenants, defaults,
remedies and other material terms that are acceptable in form and substance to the Agent and which subordination provisions shall
contain restrictions on enforcement, restrictions on payment, subordination terms, and other material terms that are acceptable
in form and substance to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordination
Agreements&rdquo;</I> means, collectively, any subordination agreements entered into with respect to Subordinated Debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subsidiary&rdquo;</I>
means, as to any particular parent corporation or organization, any other corporation or organization more than 50% of the outstanding
Voting Interests of which is at the time directly or indirectly owned by such parent corporation or organization or by any one
or more other entities which are themselves subsidiaries of such parent corporation or organization. Unless otherwise expressly
noted herein, the term <I>&ldquo;Subsidiary&rdquo;</I> means a Subsidiary of the Borrower or of any of its direct or indirect Subsidiaries;
provided, however, that no entity formed for the sole purpose of being a Special Purpose Joint Venture shall be deemed a Subsidiary
of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Surety Subordination
Agreement&rdquo; </I>means that certain Intercreditor Agreement dated as of the date hereof by and between the Bonding Company
and the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Tangible
Net Worth&rdquo;</I> shall mean, with respect to the Borrower and its Subsidiaries, the total of the capital stock (less treasury
stock), paid-in capital surplus, and retained earnings (deficit) of the Borrower and any of its Subsidiaries as determined on a
consolidated basis in accordance with GAAP after eliminating all inter-company items and all amounts properly attributable to minority
interests, if any, in the stock and surplus of any such Subsidiary, <I>minus</I> the following items (without duplication of deductions),
if any, appearing on the consolidated balance sheet of the Borrower or any of its Subsidiaries: (a) all deferred charges (less
amortization, unamortized debt discount and expenses and corporate organization expenses), (b) the book amount of all assets which
would be treated as intangibles under GAAP, including, without limitation, such items as goodwill, trademark applications, trade
names, service marks, brand names, copyrights, patents, patent applications and licenses, and rights with respect to the foregoing,
(c) the amount by which aggregate inventories or aggregate securities appearing on the asset side of such consolidated balance
sheet exceed the lower of cost or market value (at the date of such balance sheet) and (d) any write-up in the book amount of any
asset resulting from a revaluation thereof from the book amount entered upon acquisition of such asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Tax Distributions&rdquo;</I>
means distributions made by a Loan Party to Limbach, Inc. for the payment of taxes by Limbach, Inc. in quarterly installments,
based on Limbach, Inc.&rsquo;s good-faith and reasonable estimate of income to be generated by Limbach, Inc.&rsquo;s and its Subsidiaries
business in such year to allow Limbach, Inc. to meet its tax obligations on such income taking into account the carryforward of
net operating losses for any previous tax year that begins on or after the Closing Date, but only to the extent such carryforward
is permitted under applicable law and has not already been utilized to reduce, in any tax year during which this Agreement is in
effect, the amount of any distribution otherwise permitted hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Taxes&rdquo;</I>
means any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax, liabilities or penalties
applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Termination
Date&rdquo;</I> means the date on which the principal of and interest on the Loans and all other Obligations payable by the Borrower
and the other Loan Parties under this Agreement and all other Loan Documents (other than any contingent or indemnification obligations
not then due) shall have been paid in full or collateralized in a manner reasonably acceptable to the Lender or Affiliate of a
Lender to whom such obligations are owed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Consideration&rdquo;</I>
means the sum (but without duplication) of (a)&nbsp;cash paid or payable in connection with any Acquisition, whether paid at or
prior to or after the closing thereof, <I>plus</I> (b)&nbsp;Indebtedness payable to the seller in connection with such Acquisition,
<I>plus</I> (c)&nbsp;the fair market value of any Ownership Interests, delivered to the seller in connection with any Acquisition,
<I>plus</I> (d)&nbsp;purchase price payments which are required to be made over a period of time and are not contingent upon the
Borrower or any other Loan Party meeting financial performance objectives (exclusive of salaries paid in the ordinary course of
business) (discounted at the Base Rate (as defined in the Senior Credit Agreement), but only to the extent not included in clause&nbsp;(a),
(b) or (c) above, <I>plus</I> (e)&nbsp;the principal amount of Indebtedness assumed in connection with such Acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Funded
Debt&rdquo;</I> means, at any time the same is to be determined, the sum (but without duplication) of all Indebtedness (including
obligations in respect of Letters of Credit (as defined in the Senior Credit Agreement), whether or not representing obligations
for borrowed money, except to the extent Cash Collateralized (as defined in the Senior Credit Agreement)), of the Parent and its
Subsidiaries at such time determined on a consolidated basis in accordance with GAAP, but excluding obligations in respect of Bonding
Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Total Leverage
Ratio&rdquo;</I> means, as of the date of determination thereof, the ratio of (a) Total Funded Debt of the Borrower and its Subsidiaries
as of such date to (b) EBITDA as of the last day of the period of four fiscal quarters most recently ended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>UCC</I>&rdquo;
is defined in Section 1.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;U.S. Person&rdquo;
</I>means any Person that is a &ldquo;United States Person&rdquo; as defined in Section&nbsp;7701(a)(30) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;U.S. Tax
Compliance Certificate&rdquo;</I> is defined in Section 10.1(g)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Voting Interests&rdquo;</I>
of any Person means Ownership Interests of any class or classes (however designated) having ordinary power for the election of
directors or other similar governing body of such Person (including general partners of a partnership), other than Ownership Interests
having such power only by reason of the happening of a contingency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Welfare Plan&rdquo;</I>
means a &ldquo;welfare plan&rdquo; of the Loan Parties as defined in Section&nbsp;3(1) of ERISA that is maintained or contributed
to by a Loan Party or a Subsidiary of a Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Wholly-owned
Subsidiary&rdquo;</I> means, at any time, any Subsidiary of which all of the issued and outstanding Ownership Interests (other
than directors&rsquo; qualifying Ownership Interests as required by law) are owned by any one or more of the Borrower and the Borrower&rsquo;s
other Wholly-owned Subsidiaries at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Withholding
Agent&rdquo;</I> means any Loan Party and the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interpretation</I>.
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words &ldquo;include,&rdquo;
&ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation.&rdquo;
The word &ldquo;will&rdquo; shall be construed to have the same meaning and effect as the word &ldquo;shall.&rdquo; Unless the
context requires otherwise (a)&nbsp;any definition of or reference to any agreement, instrument or other document herein shall
be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b)&nbsp;any reference
herein to any Person shall be construed to include such Person&rsquo;s successors and permitted assigns, (c)&nbsp;the words &ldquo;herein,&rdquo;
&ldquo;hereof&rdquo; and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d)&nbsp;all references herein to Sections, Exhibits and Schedules shall
be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, (e)&nbsp;any reference to any law or regulation
herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time,
and any successor of such law or regulation and (f)&nbsp;the words &ldquo;asset&rdquo; and &ldquo;property&rdquo; shall be construed
to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash,
securities, accounts and contract rights. All references to time of day herein are references to Cincinnati, Ohio, time unless
otherwise specifically provided. Where the character or amount of any asset or liability or item of income or expense is required
to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement,
it shall be done in accordance with GAAP except where such principles are inconsistent with the specific provisions of this Agreement.
All terms that are used in this Agreement which are defined in the Uniform Commercial Code of the State of New York as in effect
from time to time (<I>&ldquo;UCC&rdquo;</I>) shall have the same meanings herein as such terms are defined in the UCC, unless this
Agreement shall otherwise specifically provide. References &ldquo;from&rdquo; or &ldquo;through&rdquo; any date mean, unless otherwise
specified, &ldquo;from and including&rdquo; or &ldquo;through and including&rdquo;, respectively. Unless otherwise specified herein,
the settlement of all payments and fundings hereunder between or among the parties hereto shall be made in lawful money of the
United States of America and in immediately available funds. All amounts used for purposes of financial calculations required to
be made herein shall be without duplication. References to any statute or act, without additional reference, shall be deemed to
refer to federal statutes and acts of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Accounting Principles</I>. If, after the date of this Agreement, there shall occur any change in GAAP from those used in the
preparation of the financial statements referred to in Section&nbsp;5.3 and such change shall result in a change in the method
of calculation of any financial covenant, standard or term found in this Agreement, either the Borrower or the Required Lenders
may by notice to the Lenders and the Borrower, respectively, require that the Lenders and the Borrower negotiate in good faith
to amend such covenant, standard, and term so as equitably to reflect such change in accounting principles, with the desired result
being that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries or such covenant, standard
or term shall be the same as if such change had not been made. No delay by the Borrower or the Required Lenders in requiring such
negotiation shall limit their right to so require such a negotiation at any time after such a change in accounting principles.
Until any such covenant, standard, or term is amended in accordance with this Section&nbsp;1.3, financial covenants (and all related
defined terms) and applicable covenants, terms and standards shall be computed and determined in accordance with GAAP in effect
prior to such change in accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rounding</I>.
Any financial ratios required to be maintained pursuant to this Agreement (or required to be satisfied in order for a specific
action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component,
carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result
up or down to the nearest number (with a rounding up if there is no nearest number).</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans.</I>
Each Lender severally and not jointly agrees, subject to the terms and conditions hereof, to make a loan (each individually a <I>&ldquo;Loan&rdquo;</I>
and, collectively, the <I>&ldquo;Loans&rdquo;</I>) in Dollars to the Borrower in the amount set forth opposite such Lender&rsquo;s
name on Schedule&nbsp;1 attached hereto and made a part hereof. The Loans shall be advanced on the Closing Date. No amount of any
Loan may be reborrowed once it is repaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest</I>.
(a)&nbsp;<I> Interest Rate; Payments. </I>Interest on the outstanding principal amount of the Loans shall accrue from and including
the Closing Date through and until full and final repayment of the principal amount of the Loans and payment of all interest in
full at an aggregate rate equal to the Stated Interest Rate, and shall be compounded quarterly and computed on the basis of the
actual number of days elapsed and a 360-day year. On the last day of each calendar quarter in which the Notes are outstanding,
the Borrower shall pay in arrears in cash by automatic bank draft to an account designated in writing by each Lender interest accrued
on the outstanding principal amount of the Loans at the Cash Interest Rate. The full remaining portion of all interest accruing
on the Notes at the Deferred Interest Rate (the <I>&ldquo;Deferred Interest&rdquo;</I>) may, at the Borrower&rsquo;s option, be
paid in cash on such day and, to the extent not paid in cash, shall be paid as set forth in Section 2.4(b). If any date on which
interest is to be paid is not a Business Day, such interest shall be calculated and paid on the next succeeding Business Day to
occur after such date (each date upon which interest shall be so payable, an <I>&ldquo;Interest Payment Date&rdquo;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Deferred
Interest.</I> Deferred Interest shall accrue as set forth above and on each Interest Payment Date any such Deferred Interest which
is not paid in cash shall be capitalized and added to the principal amount of the Loans (the aggregate amount of all such Deferred
Interest so capitalized, the <I>&ldquo;Deferred Interest Principal&rdquo;</I>) and shall thereafter bear interest as set forth
herein and shall be payable in full at maturity as set forth in Section 2.7 if not otherwise paid prior to such date; provided,
that all accrued Deferred Interest shall accrue cumulatively whether or not the Borrower shall have capital, surplus, earnings,
or other amounts sufficient lawfully to pay such amounts. At any time and from time to time on or after the earliest to occur of
(A) the prepayment of seventy five percent (75%) or more of the Original Principal, (B) the occurrence of an acceleration of the
Loans in full, (C) the occurrence of a Change of Control, or (D) the final maturity of the Loans (each, a <I>&ldquo;Conversion
Event&rdquo;</I>), the Required Lenders may elect to receive, in satisfaction of all or a portion of the outstanding principal
of the Loans which constitutes Deferred Interest Principal, the number of shares of Limbach Stock (the <I>&ldquo;Conversion Shares&rdquo;</I>)
equal to (i) the portion of the Deferred Interest Principal being converted divided by (ii) the Conversion Price. If the Required
Lenders elect to receive the Conversion Shares, they shall notify the Borrower in writing of such election as follows: (i) in the
case of an acceleration of the Loans in full, on or prior to the Conversion Date, (ii) in the case of the final maturity of the
Loans, not less than thirty (30) days prior to the Conversion Date, and (iii) in the case of any other Conversion Event, within
five (5) days after notice by Borrower of such Conversion Event, which notice must be given to the Agent and the Lenders at least
ten (10) days prior to the Conversion Date. On the Conversion Date, at the election of the Required Lenders, the Borrower shall
either (x) issue to the Lenders the Conversion Shares or (y) (i) pay, in cash, an amount equal to the portion of the Deferred Interest
Principal being converted and (ii) issue to the Lenders the number of shares of Limbach Stock equal to the Conversion Shares minus
the Liquidation Shares, in each case on a pro rata basis based on the Deferred Interest Principal owed to each such Lender; <I>provided,
however</I>, that if the Conversion Event occurs in connection with an acceleration of the loans in full, the Borrower shall deliver
such shares or cash within ten (10) days after the Conversion Date. Set forth on Schedule 2.4(b) is an example calculation of the
amount of cash and number of shares of Limbach Stock the Borrower would be required to deliver to the Lenders upon an exercise
of the option set forth in clause (y) of the foregoing sentence. The example calculation set forth on Schedule 2.4(b) is for illustrative
purposes only and uses hypothetical figures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Default
Rate.</I> While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry
of judgment thereon to the extent permitted by law) on the principal amount of all Loans and other amounts owing by it at a rate
per annum equal to the sum of 3.00% per annum plus the Stated Interest Rate; <I>provided, however, </I>that in the absence of acceleration,
any increase in interest rates pursuant to this Section shall be made at the election of the Agent, acting at the request or with
the consent of the Required Lenders, with written notice to the Borrower (which election may be retroactively effective to the
date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand
of the Agent at the request or with the consent of the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>AHYDO.
</I>Notwithstanding anything in this Agreement or the Notes to the contrary, on the date of the end of each accrual period (as
determined for purposes of Section 163(i) of the Code) ending after the fifth anniversary of the issuance of a Note (as determined
for U.S. federal income tax purposes) (each such date, an <I>&ldquo;AHYDO Payment Date&rdquo;</I>), the Borrower shall pay in cash
to each Lender holding a Note issued by such Borrower an amount equal to its pro rata portion of the excess of (i) the aggregate
amount that would be includible in such Lender&rsquo;s aggregate gross income with respect to such Lender&rsquo;s Note for all
periods ending on or before such AHYDO Payment Date over (ii) an amount equal to the sum of (x) the aggregate amount of interest
to be paid under such Note on or before such date and (y) the product of (A) the issue price (as defined in Sections 1273(b) and
1274(a) of the Code) of such Note and (B) the yield to maturity of such Note (as determined for purposes of Section 163(i) of the
Code). The parties intend for the Notes to not constitute &ldquo;applicable high yield discount obligations&rdquo; within the meaning
of Section 163(i) of the Code, and this Section 2.4(d) shall be interpreted consistent with such intent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturity
of Loans. </I>A final payment comprised of all principal and interest not sooner paid on the Loans, shall be due and payable to
the Lenders holding the Loans pro rata based upon their Percentages on July 20, 2022, the final maturity thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepayments.
</I>(a)<I>&nbsp;Voluntary</I>. Subject to the terms of the Senior Subordination Agreement, the Borrower may prepay the Loans in
whole or in part at any time upon notice by the Borrower to the Agent and the Lenders, such prepayment to be made by the payment
of (i) first, the Original Principal to be prepaid and cash interest accrued thereon to the date fixed for prepayment until paid
in full and, second, the Deferred Interest Principal to be prepaid and cash interest accrued thereon to the date fixed for repayment
<I>plus</I> (ii) the applicable Prepayment Premium, if any <I>plus</I> (iii) all outstanding and unpaid fees and expenses payable
to the Lenders under this Agreement and the other Loan Documents through the date of repayment; <I>provided, however</I>, the Borrower
may not partially repay the Loans in a principal amount less than $500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Mandatory</I>.
(i)&nbsp;Subject to the terms of the Senior Subordination Agreement, if the Borrower or any Subsidiary shall at any time or from
time to time make or agree to make a Disposition or shall suffer an Event of Loss with respect to any Property which results in
Net Cash Proceeds in excess of $110,000 individually or $220,000 on a cumulative basis in any fiscal year of the Borrower, then
(x)&nbsp;the Borrower shall promptly notify the Agent of such proposed Disposition or Event of Loss (including the amount of the
estimated Net Cash Proceeds to be received by the Borrower or such Subsidiary in respect thereof) and (y)&nbsp;promptly upon receipt
by the Borrower or the Subsidiary of the Net Cash Proceeds of such Disposition or such Event of Loss, the Borrower shall prepay
the Obligations in an aggregate amount equal to 100% of the amount of all such Net Cash Proceeds in excess of $110,000 individually
or $220,000 on a cumulative basis in any fiscal year of the Borrower; <I>provided</I> that in the case of each Disposition and
Event of Loss, if the Borrower states in its notice of such event that the Borrower or the applicable Subsidiary intends to invest
or reinvest, as applicable, within one hundred eighty (180) days of the applicable Disposition or receipt of Net Cash Proceeds
from an Event of Loss, the Net Cash Proceeds thereof in assets used or useful in the business, then so long as no Default or Event
of Default then exists, the Borrower shall not be required to make a mandatory prepayment under this Section in respect of such
Net Cash Proceeds to the extent such Net Cash Proceeds are actually invested or reinvested as described in the Borrower&rsquo;s
notice within such one hundred eighty (180) day period. Promptly after the end of such one hundred eighty (180) day period, the
Borrower shall notify the Agent whether the Borrower or such Subsidiary has invested or reinvested such Net Cash Proceeds as described
in the Borrower&rsquo;s notice, and to the extent such Net Cash Proceeds have not been so invested or reinvested, the Borrower
shall promptly prepay the Obligations in the amount of such Net Cash Proceeds in excess of $110,000 individually or $220,000 on
a cumulative basis in any fiscal year of the Borrower not so invested or reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms of the Senior Subordination Agreement, if after the Closing Date the Borrower or any Subsidiary shall issue any new
Ownership Interests (other than Excluded Equity Issuances) or incur or assume any Indebtedness other than that permitted by Section
6.11, the Borrower shall promptly notify the Agent of the estimated Net Cash Proceeds of such issuance, incurrence or assumption
to be received by or for the account of the Borrower or such Subsidiary in respect thereof. Promptly upon receipt by the Borrower
or such Subsidiary of Net Cash Proceeds of such issuance, incurrence or assumption the Borrower shall prepay the Obligations in
the amount of such Net Cash Proceeds. The Borrower acknowledges that its performance hereunder shall not limit the rights and remedies
of the Lenders for any breach of Section&nbsp;6.11<B> </B>or any other terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms of the Senior Subordination Agreement, if after the Closing Date the Borrower or any Subsidiary shall issue any Subordinated
Debt, the Borrower shall promptly notify the Agent of the estimated Net Cash Proceeds of such issuance to be received by or for
the account of the Borrower or such Subsidiary in respect thereof. Promptly upon receipt by the Borrower or such Subsidiary of
Net Cash Proceeds of such issuance, the Borrower shall prepay the Obligations in the amount of such Net Cash Proceeds. The Borrower
acknowledges that its performance hereunder shall not limit the rights and remedies of the Lenders for any breach of Section&nbsp;6.11
or any other terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence of a Change of Control, concurrently with the closing of any such transaction, at the election of the Required Lenders,
Borrower shall repay the Loans in full by payment of the outstanding principal balance of the Loans, plus (1) the applicable Prepayment
Premium, if any, (2) all unpaid interest accrued thereon through the date repayment and (3) all outstanding and unpaid fees and
expenses payable to the Lenders under this Agreement and the other Loan Documents through the date of repayment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise set forth in Section 2.8(b)(v), each prepayment of Loans under this Section&nbsp;2.8(b) shall be made by the payment
of (x) first, the Original Principal to be prepaid and cash interest accrued thereon to the date of prepayment until paid in full
and, second, the Deferred Interest Principal and cash interest accrued thereon to the date of prepayment <I>plus</I> (y) the applicable
Prepayment Premium, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Lender
Notification</I>. The Agent will promptly advise each Lender of any notice of prepayment it receives from the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Place
and Application of Payments</I>. Unless as otherwise set forth herein, all payments of principal of and interest on the Loans and
of all other Obligations payable by the Borrower under this Agreement and the other Loan Documents, shall be made by the Borrower
to each Lender by no later than 12:00&nbsp;Noon (New York time) on the due date thereof at the office set forth next to such Lenders
name on Schedule 1 hereto (or such other location such Lender may designate to the Borrower in writing) for the benefit of the
applicable Lender entitled thereto. Any payments received after such time shall be deemed to have been received by the Agent on
the next Business Day. All such payments shall be made in Dollars, in immediately available funds at the place of payment, in each
case without set-off or counterclaim. <I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evidence
of Indebtedness</I>. (a)&nbsp;Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing
the Indebtedness of the Borrower to such Lender resulting from the Loan made by such Lender, including the amounts of principal
and interest payable and paid to such Lender from time to time hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
entries maintained in the accounts maintained pursuant to Section&nbsp;2.12(a) above shall be <I>prima facie</I> evidence of the
existence and amounts of the Obligations therein recorded (absent manifest error); <I>provided, however, </I>that the failure of
any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay
the Obligations in accordance with their terms.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Lender may request that its Loans be evidenced by a promissory note or notes in the form of Exhibit D (referred to herein as a
<I>&ldquo;Note&rdquo;</I>). In such event, the Borrower shall prepare, execute and deliver to such Lender a Note payable to the
order of such Lender in the amount of the Loan. Thereafter, the Loans evidenced by such Note or Notes and interest thereon shall
at all times (including after any assignment pursuant to Section&nbsp;10.9) be represented by one or more Notes payable to the
order of the payee named therein or any assignee pursuant to Section&nbsp;10.9, except to the extent that any such Lender or assignee
subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced as described in subsections&nbsp;(a)
and (b) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees</I>.
(a) <I>Closing Fee. </I>Upon the execution of this Agreement, the Borrower shall pay to the Lenders a closing fee equal to $260,000,
allocated among ratably the Lenders as set forth on Schedule 1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Valuation
Fee. </I>The Borrower shall pay to Alcentra an annual valuation fee in the amount of $20,000, payable in full on the Closing Date
and on the Interest Payment Date closest to each anniversary of such date for so long as Alcentra or any of its Affiliates is a
Lender hereunder.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditions
Precedent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><I>Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans.</I>
The obligation of each Lender to advance any Loan shall be subject to satisfaction (or waiver) of the following conditions precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received this Agreement duly executed by the Loan Parties and the Lenders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received for each Lender requesting Notes, such Lender&rsquo;s duly executed Notes of the Borrower, dated the
date hereof and otherwise in compliance with the provisions of Section&nbsp;2.12(d);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[reserved];</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received the Senior Subordination Agreement duly executed by the Senior Agent and the other parties thereto, together
with certified copies of the Senior Credit Agreement and the other Senior Facility Loan Documents in effect on the Closing Date,
which documents shall be in form and substance reasonably satisfactory to the Agent;</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received the Surety Subordination Agreement duly executed by the Bonding Company and the other parties thereto,
together with copies of the Bonding Agreements in effect on the Closing Date certified by a Duly Authorized Officer of the Borrower,
which documents, including the aggregate bonding availability thereunder, shall be in form and substance reasonably satisfactory
to the Agent;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received evidence of insurance required to be maintained under the Loan Documents, naming the Agent as additional
insured<B> </B>and lenders loss payee, as applicable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received copies of each Loan Party&rsquo;s Organization Documents, certified in each instance by a Duly Authorized
Officer and, with respect to Organization Documents filed with a Governmental Authority, by the applicable Governmental Authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received copies of resolutions of each Loan Party&rsquo;s board of directors (or similar governing body) authorizing
the execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party and the consummation
of the transactions contemplated hereby and thereby, together with specimen signatures of the persons authorized to execute such
documents on such Loan Party&rsquo;s behalf, all certified in each instance by a Duly Authorized Officer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received copies of the certificates of good standing, or nearest equivalent in the relevant jurisdiction, for
each Loan Party (dated no earlier than thirty (30) days prior to the date hereof) from the office of the secretary of state or
other appropriate governmental department or agency of the state of its formation, incorporation or organization, as applicable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received a list of the Borrower&rsquo;s Authorized Representatives;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent and the Lenders shall have received the fees required by Section 2.13 to be paid on the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received certification from the Borrower&rsquo;s Chief Financial Officer or other Duly Authorized Officer of the
Borrower acceptable to the Agent of the Solvency of the Loan Parties on a consolidated basis after giving effect to the Related
Transactions and the advancing of the Loans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received: (i)&nbsp;an executed compliance certificate in the form of Exhibit&nbsp;E, calculated based on the Borrower&rsquo;s
financial conditions as of March 31, 2016, but giving effect to the Related Transactions and the advancing of the Loans; (ii)&nbsp;a
closing date balance sheet for the Borrower and its Subsidiaries calculated based on the Borrower&rsquo;s financial conditions
as of March 31, 2016,<B> </B>but giving effect to the Related Transactions and the advancing of the Loans; (iii)&nbsp;unaudited
historical quarterly financial statements for the Borrower and its Subsidiaries for the quarter ended March&nbsp;31, 2016 and unaudited
historical monthly financial statements for the Borrower and its Subsidiaries for each of the months ended April 30, 2016 and May
31, 2016; (iv)&nbsp;a certificate from the Borrower&rsquo;s Chief Financial Officer or other Duly Authorized Officer of the Borrower
acceptable to the Agent, certifying that since March 31, 2016, no Material Adverse Effect has occurred and that the conditions
set forth in Section 3.1(n) have been satisfied; (v) the Borrowing Base Certificate (as defined in the Senior Credit Agreement)
required to be delivered pursuant to Section 3.2(m) of the Senior Credit Agreement; and (vi) a certificate from the Borrower&rsquo;s
Chief Financial Officer or other Duly Authorized Officer of the Borrower acceptable to the Agent certifying as of the Closing Date,
(A) the ratio of (x) Total Funded Debt of the Borrower and its Subsidiaries, after giving effect the Related Transactions and the
advancing of the Loans, to (y) EBITDA for the period of twelve (12) consecutive months ended on March 31, 2016, calculated on a
pro forma basis after giving effect to the Related Transactions and the advancing of the Loans, shall not exceed 3.65:1.00 and
(ii) EBITDA for the period of twelve (12) consecutive months ending on March 31, 2016 shall be equal to or greater than $11,600,000.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received financing statement and, as appropriate, tax and judgment lien search results against the Loan Parties,
and their Property evidencing the absence of Liens thereon, except for Permitted Liens;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received pay-off and lien release letters from secured creditors (other than holders of Permitted Liens) of the
Loan Parties and of the Amended and Restated Senior Subordinated Loan Agreement, setting forth, among other things, the total amount
of indebtedness outstanding and owing to them (or outstanding letters of credit issued for the account of any of the Loan Parties)
and containing an undertaking to cause to be delivered to the Agent UCC termination statements and any other lien release instruments
necessary to release their Liens on the assets of any of the Loan Parties, which pay-off and lien release letters shall be in form
and substance acceptable to the Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received the favorable written opinions of counsel to the Loan Parties, in form and substance reasonably satisfactory
to the Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent&rsquo;s due diligence with respect to the Loan Parties and their Subsidiaries, if any, shall be completed in a manner reasonably
acceptable to the Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
of the Lenders shall have received, sufficiently in advance of the Closing Date, all documentation and other information requested
by any such Lender required by bank regulatory authorities under applicable &ldquo;know your customer&rdquo; and anti-money laundering
rules and regulations, including the Patriot Act; and the Agent shall have received a fully executed IRS Form W-9 (or its equivalent)
for each of the Loan Parties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;none
of the Loan Parties nor any of their Subsidiaries, if any, shall have obtained or attempted to obtain, place, arrange or renew
any debt financing, except for the Senior Facility Debt and as otherwise permitted by Section 6.11, prior to the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the Agent shall have received the Merger Agreement duly executed by the Parent and the other parties thereto, and certified by
a Duly Authorized Officer of the Borrower, which agreement shall be in form and substance reasonably satisfactory to the Agent
and (ii) the Agent shall have received evidence satisfactory to it that the Required Merger has closed or will close simultaneously
with the closing of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received a registration rights agreement, in form and substance satisfactory to it, duly executed by Limbach,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Agent shall have received such other agreements, instruments, documents, certificates, and opinions as the Agent may reasonably
request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
of the representations and warranties set forth herein and in the other Loan Documents shall be true and correct (or, in the case
of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of the Closing
Date, except to the extent the same expressly relate to an earlier date (and in such case shall be true and correct (or, in the
case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of such earlier
date); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Default or Event of Default shall have occurred and be continuing or would occur after giving effect to the Loans.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guaranties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranties</I>.
The payment and performance of the Guaranteed Obligations shall at all times be jointly and severally guaranteed by each Guarantor
pursuant to one or more Guaranty Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;4.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further
Assurances</I>. In the event any Loan Party forms or acquires any other Subsidiary after the Closing Date, the Loan Parties shall
promptly upon such formation or acquisition cause such newly formed or acquired Subsidiary to execute a Guaranty Agreement and
the Loan Parties shall also deliver to the Agent, or cause such Subsidiary to deliver to the Agent, at the Borrower&rsquo;s cost
and expense, such other instruments, documents, certificates, and opinions reasonably required by the Agent in connection therewith.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representations
and Warranties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Loan Party represents
and warrants to each Lender and the Agent as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organization
and Qualification</I>. Each Loan Party (a)&nbsp;is duly organized and validly existing under the laws of the jurisdiction of its
organization, (b) is in good standing under the laws of the jurisdiction of its organization, (c)&nbsp;has the power and authority
to own its property and to transact the business in which it is engaged and proposes to engage and (d)&nbsp;is duly qualified and
in good standing in each jurisdiction where the ownership, leasing or operation of property or the conduct of its business requires
such qualification, except, in each case of clauses (a), (b) (other than with respect to the Borrower where failure to maintain
such good standing is not curable or results in the dissolution of the Borrower), (c) and (d), where the same could not be reasonably
expected to have, either individually or in the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authority
and Enforceability</I>. The Borrower has the power and authority to enter into this Agreement and the other Loan Documents executed
by it, to make the borrowings herein provided for, to issue its Notes (if any), and to perform all of its obligations hereunder
and under the other Loan Documents executed by it. Each Guarantor has the power and authority to enter into the Loan Documents
executed by it, to guarantee the Obligations, and to perform all of its obligations under the Loan Documents executed by it. The
Loan Documents delivered by the Loan Parties have been duly authorized by proper corporate and/or other organizational proceedings,
executed, and delivered by such Persons and constitute valid and binding obligations of such Loan Parties enforceable against each
of them in accordance with their terms, except as enforceability may be limited by Debtor Relief Laws and general principles of
equity (regardless of whether the application of such principles is considered in a proceeding in equity or at law); and this Agreement
and the other Loan Documents do not, nor does the performance or observance by any Loan Party of any of the matters and things
herein or therein provided for, (a)&nbsp;contravene or violate any applicable Legal Requirement binding upon any Loan Party or
any provision of the Organization Documents of any Loan Party, (b)&nbsp;violate or constitute a default under any covenant, indenture
or agreement of or affecting the any Loan Party or any of its Property, in each case where such violation, contravention or default,
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect or (c)&nbsp;result in the creation
or imposition of any Lien on any Property of any Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Reports</I>. The audited consolidated and consolidating financial statements of the Parent and its Subsidiaries as at December
31,&nbsp;2015, and the unaudited interim consolidated and consolidating financial statements of the Parent and its Subsidiaries
as at March 31,&nbsp;2016, for the three (3)&nbsp;months then ended, heretofore furnished to the Agent, fairly and adequately present
the consolidated and consolidating financial condition of the Parent and its Subsidiaries as at said dates and the consolidated
and consolidating results of their operations and cash flows for the periods then ended in conformity with GAAP applied on a consistent
basis. <B> </B>As of any date after the Closing Date, the audited consolidated and consolidating financial statements of the Borrower
and its Subsidiaries most recently furnished to the Agent pursuant to Section 6.1, fairly and adequately present in all material
respects the consolidated and consolidating financial condition of the Borrower and its Subsidiaries as at said dates and the consolidated
and consolidating results of their operations and cash flows for the periods then ended in conformity with GAAP applied on a consistent
basis. As of the date of the most recently delivered annual financial statements, no Loan Party or any Subsidiary of a Loan Party
has contingent liabilities required to be disclosed under GAAP or judgments, orders or injunctions against it that are material
to it and which otherwise constitute an Event of Default under Section 7.1(g), other than as indicated on such financial statements
or, with respect to future periods, on the financial statements furnished pursuant to Section&nbsp;6.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Material Adverse Change</I>.<I> </I>Since the date of the most recent audited financial statements of Limbach, Inc. provided to
the Agent pursuant to Section 6.1(b), there has been no change in the business condition (financial or otherwise), operations,
performance or Properties of any Loan Party or any Subsidiary of any Loan Party except those occurring in the ordinary course of
business, none of which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Litigation
and Other Controversies</I>. Except as set forth on Schedule 5.5<U>, </U>there is no litigation, arbitration, labor controversy
or governmental proceeding pending or, to the knowledge of any Loan Party, threatened against any Loan Party or any of its Subsidiaries,
or any of their respective Property, that could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;True
and Complete Disclosure</I>. All information furnished by or on behalf of the Loan Parties or any of their Subsidiaries to the
Agent or any Lender for purposes of or in connection with this Agreement, or any transaction contemplated herein, does not contain
any untrue statements or material fact or omit a material fact necessary to make the material statements herein or therein not
misleading in light of the circumstances under which such information was provided; <I>provided</I> that, with respect to projected
financial information furnished by or on behalf of the Loan Parties or any of their Subsidiaries, the Loan Parties only represent
and warrant that such information is prepared in good faith based upon assumptions and estimates believed to be reasonable by the
Loan Parties at the time of preparation and at the time of delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use
of Proceeds; Margin Stock</I>. The Borrower shall use all proceeds of the Loans to refinance existing Indebtedness outstanding
on the Closing Date, to finance Capital Expenditures and Permitted Acquisitions<B> </B>and to fund certain fees and expenses associated
with this Agreement and the Related Agreements and the transactions contemplated hereby and thereby; and for working capital purposes
and other general corporate purposes of the Loan Parties and their Subsidiaries. No part of the proceeds of any Loan or other extension
of credit hereunder will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing
or carrying any Margin Stock. Neither the making of any Loan or other extension of credit hereunder nor the use of the proceeds
of Loans will violate or be inconsistent with the provisions of Regulations T, U or X of the Board of Governors of the Federal
Reserve System and any successor to all or any portion of such regulations. Margin Stock constitutes less than 25% of the value
of those assets of the Loan Parties and their Subsidiaries that are subject to any limitation on sale, pledge or other restriction
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes</I>.
Each Loan Party and each of its Subsidiaries has timely filed or caused to be timely filed all tax returns required to be filed
by such Loan Party and/or any of its Subsidiaries, except where (i) extensions have been duly obtained or (ii) failure to so file
could not be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect. Each Loan Party and
each of its Subsidiaries has paid (or made adequate provisions and established appropriate reserves for) all Taxes payable by them
other than Taxes which are not delinquent, except those that are being contested in good faith and by appropriate legal proceedings
and as to which appropriate reserves have been provided for in accordance with GAAP and no Lien resulting therefrom attaches to
any of its Property (other than any Permitted Liens).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERISA</I>.
Except as would not reasonably be expected to result in liability in excess of $825,000, or except as set forth on Schedule 5.9,
(a)&nbsp;no ERISA Event has occurred and no Loan Party or any member of its Controlled Group is aware of any fact, event or circumstance
that could reasonably be expected to constitute or result in an ERISA Event; (b) each Plan is in compliance with all applicable
Legal Requirements; (c) there is no existing or pending (or to the knowledge of the Loan Party, threatened) claims (other than
routine claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or investigation involving
any Plan or Welfare Plan; (d) no Loan Party or any member of the Controlled Group has received in the past five years any requests
for a &ldquo;Statement of Business Affairs&rdquo; from any Multiemployer Plan it has contributed to; and (e) substantially all
of the employees for whom any Loan Party or member of its Controlled Group has an obligation to contribute to a Multiemployer Plan
perform work in the building and construction industry. No Lien has been imposed under Section 430(k) of the Code or Sections 303
or 4068 of ERISA on any asset of a Loan Party or a Subsidiary of a Loan Party. An update to this Schedule 5.9 will be included
as an attachment to each certificate delivered pursuant to Section 6.1(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries</I>.
Schedule&nbsp;5.10 (as supplemented from time to time pursuant to Section&nbsp;6.18) identifies (a)&nbsp;each Subsidiary (including
Subsidiaries that are Loan Parties) and (b)&nbsp;the following information for each Subsidiary: (i)&nbsp;jurisdiction of its organization;
and (ii)&nbsp;the percentage of issued and outstanding interests of each class of its Ownership Interests owned by any Loan Party
and/or its Subsidiaries; and, if such percentage is not 100% (excluding directors&rsquo; qualifying shares as required by law),
a description of each class of its authorized Ownership Interests and the number of interests of each class issued and outstanding.
All of the outstanding Ownership Interests of each Subsidiary are validly issued and outstanding and fully paid and nonassessable
and all such Ownership Interests indicated on Schedule&nbsp;5.10 (as supplemented from time to time pursuant to Section&nbsp;6.18)
as owned by a Loan Party or another Subsidiary are owned, beneficially and of record, by such Loan Party or Subsidiary free and
clear of all Liens, other than Permitted Liens. There are no outstanding commitments or other obligations of any Subsidiary to
issue, and no options, warrants or other rights of any Person to acquire, any shares of any class of Ownership Interests of any
Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Laws</I>. The Loan Parties and their Subsidiaries are in compliance with all applicable statutes, regulations and orders of,
and all applicable restrictions imposed by, all Governmental Authorities in respect of the conduct of their businesses and the
ownership of their Property, except such noncompliances as could not reasonably be expected to have, either individually or in
the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental
Matters</I>. Except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each
Loan Party and each of its Subsidiaries: (i) is and has been in compliance with all applicable Environmental Laws; and (ii) has
obtained all permits, licenses and approvals required by Environmental Laws, all such permits, licenses and approvals are in full
force and effect and each Loan Party and each of its Subsidiaries is in compliance with the terms and conditions of all such permits,
licenses and approvals. There are no pending or, to the best knowledge of the Loan Parties and their Subsidiaries after due inquiry,
threatened Environmental Claims against any Loan Party or any of its Subsidiaries or any real property, including leaseholds, owned
or operated by any Loan Party or any of its Subsidiaries. There are no facts, circumstances, conditions or occurrences that, to
the best knowledge of the Loan Parties and their Subsidiaries after due inquiry, could reasonably be expected to (i)&nbsp;form
the basis of an Environmental Claim against any Loan Party or any of its Subsidiaries or any real property, including leaseholds,
owned or operated by any Loan Party or any of its Subsidiaries, or (ii)&nbsp;cause any such real property to be subject to any
restrictions on its ownership, occupancy, use or transferability under Environmental Laws. Hazardous Materials have not been Released
on or from any real property, including leaseholds, owned or operated by any Loan Party or any of its Subsidiaries or at any off-site
location for which any Loan Party or any of its Subsidiaries is liable, that individually or in the aggregate could reasonably
be expected to have a Material Adverse Effect. The Loan Parties have made available to Agent accurate and complete copies of all
material environmental reports, studies, assessments, investigations, audits, correspondence and other documents relating to environmental
or occupational safety and health matters with respect to any real property, including leaseholds, owned or operated by the Loan
Parties or any of their Subsidiaries that are in the Loan Parties&rsquo; possession or control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
Company.</I> No Loan Party nor any of its Subsidiaries is an &ldquo;investment company&rdquo; or a company &ldquo;controlled&rdquo;
by an &ldquo;investment company&rdquo; within the meaning of the Investment Company Act of 1940.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intellectual
Property</I>. Each Loan Party and each of its Subsidiaries owns or has obtained licenses or other rights of whatever nature to
all the patents, trademarks, service marks, trade names, copyrights, trade secrets, know-how or other intellectual property rights
necessary for the present conduct of its businesses, in each case without any known conflict with the rights of others except for
such conflicts, rights to use and any failure to own or obtain such licenses and other rights, as the case may be, as could not
reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Good
Title</I>. The Loan Parties and their Subsidiaries have good and marketable title to, or valid leasehold interests in, or rights
to use, their assets as reflected on the Loan Parties&rsquo; most recent consolidated balance sheet provided to the Agent (except
for sales of assets in the ordinary course of business, and such defects in title or interests that could not reasonably be expected
to have, either individually or in the aggregate, a Material Adverse Effect) and is subject to no Liens, other than Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Labor
Relations</I>. No Loan Party nor any of its Subsidiaries is engaged in any unfair labor practice that could reasonably be expected
to have a Material Adverse Effect. Except as set forth on Schedule 5.16, there is (a)&nbsp;no strike, labor dispute, slowdown,
or stoppage pending against any Loan Party or any of its Subsidiaries or, to the best knowledge of the Loan Parties and their Subsidiaries,
threatened against any Loan Party or any of its Subsidiaries, (b)&nbsp;to the best knowledge of the Loan Parties and their Subsidiaries,
no union representation proceeding is pending with respect to the employees of any Loan Party or any of its Subsidiaries and no
union organizing activities are taking place and (c) no Loan Party nor any of its Subsidiaries is a party to a collective bargaining
agreement, except (with respect to any matter specified in clause&nbsp;(a), (b) or (c) above, either individually or in the aggregate)
such as could not reasonably be expected to have a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governmental
Authority and Licensing</I>. The Loan Parties and their Subsidiaries have received all licenses, permits, and approvals of each
Governmental Authority necessary to conduct their businesses, in each case where the failure to obtain or maintain the same could
reasonably be expected to have a Material Adverse Effect. No investigation or proceeding that, if adversely determined, could reasonably
be expected to result in revocation or denial of any license, permit or approval is pending or, to the knowledge of the Loan Parties,
threatened, except where such revocation or denial could not reasonably be expected to have, either individually or in the aggregate,
a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval</I>s.
No authorization, consent, license or exemption from, or filing or registration with, any Governmental Authority, nor any approval
or consent of any other Person, is or will be necessary to the valid execution, delivery or performance by any Loan Party of any
Loan Document, except for (a)&nbsp;such approvals, authorizations, consents, licenses or exemptions from, or filings or registrations
which have been obtained prior to the date of this Agreement and remain in full force and effect and (b)&nbsp;filings which are
necessary to release Liens granted pursuant to the document related to the Indebtedness to be refinanced on the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliate
Transactions.</I> No Loan Party nor any of its Subsidiaries is a party to any contracts or agreements with any of its Affiliates
(other than with Wholly-owned Subsidiaries) on terms and conditions which are less favorable to such Loan Party or such Subsidiary
than would be usual and customary in similar contracts or agreements between Persons not affiliated with each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 5.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solvency</I>.
The Loan Parties and their Subsidiaries are, on a consolidated basis, Solvent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Broker Fees</I>. No broker&rsquo;s or finder&rsquo;s fee or commission will be payable with respect hereto or any of the transactions
contemplated thereby; and the Loan Parties hereby agree to indemnify the Agent and the Lenders against, and agree that they will
hold the Agent and the Lenders harmless from, any claim, demand, or liability for any such broker&rsquo;s or finder&rsquo;s fees
alleged to have been incurred in connection herewith or therewith and any expenses (including reasonable attorneys&rsquo; fees)
arising in connection with any such claim, demand, or liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Default. </I>No Default or Event of Default has occurred and is continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 5.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Sanctions Programs</I>. &nbsp;Each Loan Party is in compliance with the requirements of all Sanctions Programs applicable
to it. Each Subsidiary of each Loan Party is in compliance with the requirements of all Sanctions Programs applicable to such Subsidiary.
Each Loan Party has provided to the Agent and the Lenders all information regarding such Loan Party and its directors, officers,
Affiliates and Subsidiaries necessary for the Agent and the Lenders to comply with all applicable Sanctions Programs. To the best
of each Loan Party&rsquo;s knowledge, neither any Loan Party nor any of its officers or directors, Affiliates or Subsidiaries is,
as of the date hereof, a Sanctioned Person. No part of the proceeds of the Loans will be used, directly or indirectly, for any
payments to any governmental official or employee, political party, official of a political party, candidate for political office,
or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage,
in violation of the United States Foreign Corrupt Practices Act of 1977.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger
Agreement; Bonding Facility.</I> (a) <I>Merger Agreement. </I>The Borrower has provided to the Agent a true and correct copy of
the Merger Agreement. The Merger Agreement is in full force and effect and has not, except as reflected in amendments provided
to the Agent, been amended or modified in any material respect from the version so delivered to the Agent, no material condition
to the effectiveness thereof has been waived and no material obligations of Limbach, Inc. or the Parent thereunder have been waived,
except to the extent approved in writing by the Agent, and no Loan Party is aware of any default thereunder. No authorization,
consent, license, or exemption from, or filing or registration with, any Governmental Authority, nor any material approval or consent
of any other Person, is or will be necessary to the valid execution, delivery, or material performance by Limbach, Inc. or the
Parent of the Merger Agreement or of any other instrument or document executed and delivered in connection therewith. As of the
Closing Date, to each Loan Party&rsquo;s knowledge, all representations and warranties in the Merger Agreement are true and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Bonding
Facility. </I> The Loan Parties have provided to the Agent a true and correct copy of all agreements establishing the Required
Bonding Facility (together, the <I>&ldquo;Bonding Agreements&rdquo;</I>). <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Borrower and its Subsidiaries have available bonding capacity under one or more Bonding Agreements in an amount sufficient to operate
their respective businesses in the ordinary course of business. </FONT>Each of the Bonding Agreements is in full force and effect
and no Duly Authorized Officer is aware of any condition that would constitute a default under Section 7.1(l) of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Agreements and Documents.</I> All Material Agreements existing on the Closing Date are listed on Schedule&nbsp;5.25, and, except
as set forth on such Schedule, all such Material Agreements are in full force and effect and no defaults currently exist under
such agreements which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. There does
not exist any violation of any Organization Documents which could reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
and Warrants, Etc</I>. On the Closing Date, except as set forth on Schedule 5.26, there are no outstanding securities convertible
into or exchangeable for Limbach Stock or options, warrants or other rights to purchase or subscribe for Limbach Stock, or contracts,
commitments, agreements, understandings or arrangements of any kind to which Limbach, Inc., any Loan Party or any Subsidiary of
a Loan Party is a party relating to any such convertible or exchangeable securities or any such options, warrants or rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior
Facility Debt.</I> The Borrower has delivered to the Agent true, correct and complete copies of all Senior Facility Loan Documents
(including all schedules, exhibits, amendments, supplements, modifications and assignments delivered pursuant thereto or in connection
therewith). All Obligations constitute Indebtedness entitled to the benefits of the subordination provisions contained in the Senior
Facility Loan Documents and the Senior Subordination Agreement.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covenants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Loan Party covenants
and agrees that, so long as any Loans remain outstanding and until the Termination Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information
Covenants</I>. The Loan Parties will furnish to the Agent, with sufficient copies for each Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Quarterly
Reports</I>. Within forty-five (45) days after the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter
of the Borrower ending June 30,&nbsp;2016, (i) the Borrower and its Subsidiaries&rsquo; consolidated and consolidating balance
sheet as at the end of such fiscal quarter and the related consolidated and consolidating statements of income and retained earnings
and of cash flows for such fiscal quarter and for the elapsed portion of the fiscal year-to-date period then ended, each in reasonable
detail, prepared by the Borrower in accordance with GAAP, setting forth comparative figures for the corresponding fiscal quarter
in the prior fiscal year and comparable budgeted figures for such fiscal quarter, all of which shall be certified by the Chief
Financial Officer or other Duly Authorized Officer of the Borrower acceptable to the Agent that the consolidated and consolidating
schedules fairly present in all material respects in accordance with GAAP the financial condition of the Borrower and its Subsidiaries
as of the dates indicated and the results of their operations and changes in their cash flows for the periods indicated, subject
to normal year-end audit adjustments and the absence of footnotes, (ii) a work in process report of the Borrower and its Subsidiaries
as at the end of such fiscal quarter in form and substance reasonably acceptable to the Agent, and (iii) a management discussion
and analysis (with reasonable detail and specificity) of the results of operations for the fiscal periods reported.</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Annual
Statements</I>. Within one hundred twenty (120) days after the close of each fiscal year of the Borrower, (i) a copy of Limbach,
Inc.&rsquo;s consolidated and consolidating balance sheet as of the last day of the fiscal year then ended and Limbach, Inc.&rsquo;s
consolidated and consolidating statements of income, retained earnings, and cash flows for the fiscal year then ended, and accompanying
notes thereto, each in reasonable detail showing in comparative form the figures for the previous fiscal year, accompanied by an
unqualified opinion of a firm of independent public accountants of recognized national standing, selected by the Loan Parties and
reasonably acceptable to the Agent, to the effect that the consolidated financial statements have been prepared in accordance with
GAAP and present fairly in accordance with GAAP the consolidated financial condition of Limbach, Inc. and its Subsidiaries as of
the close of such fiscal year and the results of their operations and cash flows for the fiscal year then ended and that an examination
of such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards
and (ii) the unaudited consolidating balance sheet as of the last day of the fiscal year then ended of the Borrower and its Subsidiaries
and the unaudited consolidated and consolidating statements of income, retained earnings, and cash flows for the fiscal year then
ended of the Borrower and its Subsidiaries which shall be certified by the Chief Financial Officer or other Duly Authorized Officer
of the Borrower acceptable to the Agent that such financial statements fairly present in all material respects in accordance with
GAAP the financial condition of the Borrower and its Subsidiaries as of the dates indicated and the results of their operations
and changes in their cash flows for the periods indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Officer&rsquo;s
Certificates</I>. Within forty-five (45)&nbsp;days after the end of each fiscal quarter of the Borrower and at the time of the
delivery of the financial statements provided for in Section&nbsp;6.1(b), commencing with the fiscal quarter of the Borrower ending
June 30,&nbsp;2016, (i)&nbsp;a certificate of the Chief Financial Officer or other Duly Authorized Officer of the Borrower acceptable
to Agent in the form of Exhibit&nbsp;E (A)&nbsp;stating no Default or Event of Default has occurred and is continuing during the
period covered by such statements or, if a Default or Event of Default exists, a detailed description of the Default or Event of
Default and all actions the Borrower is taking with respect to such Default or Event of Default, (B)&nbsp;confirming that the representations
and warranties stated in Section&nbsp;5 remain true and correct (or, in the case of any representation or warranty not qualified
as to materiality, true and correct in all material respects) as of said time, except to the extent such representations and warranties
relate to an earlier date (and in such case, confirming they are true and correct (or, in the case of any representation or warranty
not qualified as to materiality, true and correct in all material respects) as of such earlier date), and (C)&nbsp;showing detailed
covenant calculations evidencing the Borrower&rsquo;s compliance with the covenants set forth in 6.20, and (ii)&nbsp;a comparison
of the current year to date financial results (other than in respect of the balance sheets included therein) against the budgets
required to be submitted pursuant to clause&nbsp;6.1(d).</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Budgets</I>.
As soon as available, but in any event at least thirty (30) days after the first day of each fiscal year of the Borrower, a budget
in form satisfactory to the Agent (including a breakdown of the projected results of each of the construction and service lines
of business of the Parent and its Subsidiaries consistent with historical past practices, budgeted consolidated and consolidating
statements of income, and sources and uses of cash and balance sheets for the Parent and its Subsidiaries) of the Borrower and
its Subsidiaries in reasonable detail satisfactory to the Agent for each fiscal month and the four fiscal quarters of the immediately
succeeding fiscal year and, with appropriate discussion, the principal assumptions upon which such budget is based.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Notice
of Default or Litigation, Labor Materials and Contracts</I>. Promptly, and in any event within five (5) Business Days after any
officer of any Loan Party obtains knowledge thereof, notice of (i)&nbsp;the occurrence of any event which constitutes a Default
or an Event of Default or any other event which could reasonably be expected to have a Material Adverse Effect, which notice shall
specify the nature thereof, the period of existence thereof and what action the Loan Parties propose to take with respect thereto;
<I>provided</I> that this reporting obligation shall not apply to ordinary course short term performance defaults incurred under
construction contracts entered into in the ordinary course of business, (ii)&nbsp;the commencement of, or threat of, or any significant
development in, any litigation, labor controversy, arbitration or governmental proceeding pending against any Loan Party or any
of its Subsidiaries which, if adversely determined, could reasonably be expected to have a Material Adverse Effect, (iii) any labor
dispute to which any Loan Party or any of its Subsidiaries may become a party and which may have a Material Adverse Effect, (iv)
any strikes, walkouts, or lockouts relating to any of the Loan Parties&rsquo; or any of their Subsidiaries&rsquo; plants or other
facilities, and (v) the occurrence of any event which constitutes a default or an event of default under any Material Agreement;
<I>provided </I>that this reporting obligation shall not apply to ordinary course short term performance defaults incurred under
construction contracts entered into in the ordinary course of business. In addition, the Loan Parties agree to provide the Lenders,
promptly upon receipt by any Loan Party, with copies of all pleadings filed relating to any litigation matter disclosed pursuant
to this Section 6.1(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Management
Letters</I>. Promptly after any Loan Party&rsquo;s receipt thereof, a copy of each report or any &ldquo;management letter&rdquo;
submitted to any Loan Party or any of its Subsidiaries by its certified public accountants and the management&rsquo;s responses
thereto.</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Reports and Filings</I>. Promptly, copies of all financial information, proxy materials and other material information, certificates,
reports, statements and completed forms, if any, which Limbach, Inc. or any of its Subsidiaries (x)&nbsp;has furnished to the shareholders
of Limbach, Inc. or the U.S. Securities and Exchange Commission or (y)&nbsp;has delivered to the Senior Agent or the holders of,
or to any other agent or trustee with respect to, Indebtedness of the Parent or any of its Subsidiaries in their capacity as such
a holder, agent or trustee to the extent that the aggregate principal amount of such Indebtedness exceeds (or upon the utilization
of any unused commitments may exceed) $550,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Environmental
Matters</I>. Promptly upon, and in any event within five (5) Business Days after any officer of any Loan Party obtains knowledge
thereof, notice of one or more of the following environmental matters which individually, or in the aggregate, could reasonably
be expected to have a Material Adverse Effect: (i)&nbsp;any violation of Environmental Law by, or notice of an Environmental Claim
against, any Loan Party or any of its Subsidiaries or any real property owned or operated by any Loan Party or any of its Subsidiaries;
(ii)&nbsp;any Release or threatened Release of Hazardous Substances that occurs on or arises from any real property owned or operated
by any Loan Party or any of its Subsidiaries or for which any Loan Party or any Subsidiary of any Loan Party is liable, in each
case that (x)&nbsp;is not in compliance with applicable Environmental Laws or (y)&nbsp;could reasonably be expected to form the
basis of an Environmental Claim against any Loan Party or any of its Subsidiaries or any such real property; (iii)&nbsp;any condition
or occurrence on any real property owned or operated by any Loan Party or any of its Subsidiaries that could reasonably be expected
to cause such real property to be subject to any restrictions on the ownership, occupancy, use or transferability by any Loan Party
or any of its Subsidiaries of such real property under any Environmental Law; and (iv)&nbsp;any investigative, removal or remedial
actions to be taken in response to the actual or alleged presence of any Hazardous Material on any real property owned or operated
by any Loan Party or any of its Subsidiaries, or by any Loan Party or any of its Subsidiaries at any off-site location, to the
extent required by any Environmental Law or Governmental Authority. All such notices shall describe in reasonable detail the nature
of the claim, investigation, condition, occurrence or removal or remedial action and such Loan Party&rsquo;s or such Subsidiary&rsquo;s
response thereto. In addition, the Loan Parties agree to provide the Lenders with copies of all material written communications
by the Loan Parties or any of their Subsidiaries with any Person or Governmental Authority relating to any of the matters set forth
in clauses&nbsp;(i)-(iv) above, and such detailed reports relating to any of the matters set forth in clauses&nbsp;(i)-(iv) above
as may reasonably be requested by the Agent or the Required Lenders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Multiemployer
Plans. </I>Promptly after receipt by any Loan Party or any member of the Controlled Group, (x) a copy of any &ldquo;Statement of
Business Affairs&rdquo; issued by any Multiemployer Plan to any Loan Party or any member of the Controlled Group and (y) a copy
of any &ldquo;estimate of withdrawal liability&rdquo; received by any Loan Party or any member of its Controlled Group from any
Multiemployer Plan it has contributed to, which estimate shall be requested or caused to be requested by the Loan Parties at any
time withdrawal from any Multiemployer Plan is contemplated by any Loan Party or any member of the Controlled Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Monthly
Board Reports</I>. A copy of each &ldquo;Monthly Board Report&rdquo; prepared for the board of directors of Parent and relating
to key performance indicators, which report shall be prepared and distributed no less than monthly, promptly upon distribution
of such report to the board of directors of Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Information</I>. From time to time, such other information or documents (financial or otherwise) as the Agent or any Lender may
reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the avoidance of
doubt, the reporting and delivery requirements of this Section 6.1 shall not be deemed to be duplicative of the satisfaction of
any of the delivery requirements set forth in Section 6.28.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspections;
Field Examinations</I>. Each Loan Party will, and will cause each of its Subsidiaries to, permit officers, representatives and
agents of the Agent or any Lender, to visit and inspect any Property of such Loan Party or such Subsidiary, and to examine the
financial records and corporate books of such Loan Party or such Subsidiary, and discuss the affairs, finances, and accounts of
such Loan Party or such Subsidiary with its and their Duly Authorized Officer and independent accountants, all at such reasonable
times as the Agent or any Lender may request, and with respect to the independent accountants, after prior notice to the Borrower;
<I>provided</I> that the Borrower shall be permitted to attend any visit with the independent accountants of the Loan Parties;
<I>provided, further, </I>so long as no Default or Event of Default exists, prior written notice of any such visit, inspection,
or examination shall be provided to the Borrower and such visit, inspection, or examination shall be performed at reasonable times
to be agreed to by the Borrower, which agreement will not be unreasonably withheld. The Borrower shall pay to the Agent for its
own use and benefit reasonable charges for examinations of the Borrower&rsquo;s Property, financial records and corporate books
performed by the Agent or its agents or representatives in such customary per diem amounts and related out-of-pocket costs and
expenses as the Agent may from time to time request (the Agent acknowledging and agreeing that such charges shall be computed in
the same manner as it at the time customarily uses for the assessment of charges for similar examinations); <I>provided, however,</I>
that in the absence of any Default and Event of Default, the Borrower shall not be required to pay the Agent for more than one
such examination per calendar year; <I>provided, further, </I>that if an Event of Default has occurred and is continuing, the Agent
shall be permitted to conduct inspections, audits and examinations as it reasonably deems advisable at the reasonable cost and
expense of the Borrower. The Parent and the Borrower agree to pay (and shall cause each of their Subsidiaries to pay) on demand
all reasonable costs, expenses and fees incurred by the Agent in connection with any inspections, examinations, or audits of any
of the Loan Parties performed by the Agent under this Section&nbsp;6.2.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintenance
of Property and Insurance; Environmental Matters</I>. (a)&nbsp;Each Loan Party will, and will cause each of its Subsidiaries to,
(i)&nbsp;keep its Property, plant, and equipment in good repair, working order and condition, normal wear and tear, casualty, and
condemnation excepted, and shall from time to time make all necessary and proper repairs, renewals, replacements, extensions, additions,
betterments and improvements thereto so that at all times such Property, plant, and equipment are reasonably preserved and maintained
and (ii)&nbsp;maintain in full force and effect with financially sound and reputable insurance companies insurance which provides
substantially the same (or greater) coverage and against at least such risks as is in accordance with industry practice, and shall
furnish to the Agent upon request full information as to the insurance so carried.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of Section&nbsp;6.3(a), each Loan Party and its Subsidiaries shall: (i)&nbsp;materially comply with, and
maintain all real property owned or operated by any Loan Party or any of its Subsidiaries in material compliance with, applicable
Environmental Laws; (ii)&nbsp;obtain and maintain in full force and effect all permits, licenses and approvals required for its
operations and the occupancy of its properties by Environmental Laws; (iii)&nbsp;cure as soon as reasonably practicable any violation
of applicable Environmental Laws<B> </B>which individually or in the aggregate may reasonably be expected to have a Material Adverse
Effect; (iv)&nbsp;not, and shall not permit any other Person to, own or operate on any of its properties any underground storage
tank, landfill, dump or hazardous waste treatment, storage or disposal facility as defined pursuant to Environmental Laws; and
(v)&nbsp;shall not use, generate, treat, store, Release or dispose of Hazardous Materials at or on any real property owned or operated
by any Loan Party or any of its Subsidiaries except in the ordinary course of its business and in compliance with all Environmental
Laws. Each Loan Party and its Subsidiaries shall conduct any investigation, study, sampling and testing, abatement, cleanup, removal,
remediation or other response or preventative action necessary to remove, remediate, prevent, cleanup or abate any Release or threatened
Release of Hazardous Materials or any migration or continuation thereof required by Environmental Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Laws and Material Agreements</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, comply in all respects
with the requirements of all laws, rules, regulations, ordinances and orders of any Governmental Authority applicable to such Loan
Party or any of its Subsidiaries&rsquo; Property or business operations, where any such non-compliance, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect or result in a Lien upon any of its Property (other than
Permitted Liens). Each Loan Party shall, and shall cause each of its Subsidiaries to, timely satisfy all assessments, fines, costs
and penalties imposed by any Governmental Authority against such Person or any Property of such Person, where any such failure
to pay, individually or in the aggregate, would result in a Material Adverse Effect. Each Loan Party shall, and shall cause each
of its Subsidiaries to, comply with any and all agreements or instruments evidencing Indebtedness and any other Material Agreement
to which it is a party or by which it is bound, where such default would result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERISA</I>.
Each Loan Party shall, and shall cause each member of its Controlled Group to, promptly pay and discharge all obligations and liabilities
arising under ERISA of a character which if unpaid or unperformed could reasonably be expected to have a Material Adverse Effect
or result in a Lien upon any of the Loan Party&rsquo;s or any of its Subsidiary&rsquo;s Property. Each Loan Party shall, and shall
cause each of its Subsidiaries to, promptly notify the Agent and each Lender of the occurrence of any other ERISA Event that could
reasonably be expected to result in liability in excess of $825,000; provided, however, that each Loan Party shall, and shall cause
each of its Subsidiaries to, promptly notify the Agent and each Lender of the occurrence of an event that may reasonably be expected
to result in a complete or partial withdrawal by the Loan Party or any member of its Controlled Group from a Multiemployer Plan,
regardless of whether the resulting liability is reasonably expected to be in excess of $825,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of Taxes</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, pay and discharge, all Taxes imposed upon it
or any of its Property, before becoming delinquent and before any penalties accrue thereon, unless and to the extent that the same
are being contested in good faith and by appropriate proceedings and as to which appropriate reserves have been provided for in
accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preservation
of Existence</I>. Each Loan Party shall, and shall cause each of its Subsidiaries to, do or cause to be done, all things necessary
to preserve and keep in full force and effect its existence and, except where the failure to do so would not reasonably be expected
to have a Material Adverse Effect, its franchises, bonds, authority to do business, licenses, patents, trademarks, copyrights,
contracts and other rights that are necessary for the Loan Parties and their Subsidiaries to conduct their respective businesses
as presently conducted, except for such patents, trademarks, copyrights, and other proprietary rights which, in the Loan Parties&rsquo;
reasonable good faith determination, are no longer used, useful, or valuable to their respective businesses; <I>provided, however,</I>
that nothing in this Section&nbsp;6.7 shall prevent, to the extent permitted by Section&nbsp;6.13, sales of assets by the Loan
Parties or any of their Subsidiaries, the dissolution or liquidation of any Subsidiary of any Loan Party, or the merger or consolidation
between or among the Subsidiaries of any Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts
with Affiliates</I>.<I> </I> No Loan Party shall, nor shall it permit any of its Subsidiaries to, enter into any contract, agreement
or business arrangement with any of its Affiliates (other than Wholly-owned Subsidiaries that are Loan Parties) on terms and conditions
which are less favorable to such Loan Party or such Subsidiary than would be usual and customary in similar contracts, agreements
or business arrangements between Persons not affiliated with each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
or Changes and Amendments</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, change its fiscal year or fiscal
quarters from its present basis or amend or change, or allow to be amended or changed: (a) its Organization Documents in any way
that could reasonably be expected to have a Material Adverse Effect; <I>provided</I> that prior to any amendment or modification
of such Loan Party&rsquo;s Organization Documents, the Borrower shall cause such Loan Party to furnish a true, correct and complete
copy of such proposed amendment or modification to the Agent, or (b) any Material Agreement in a manner that could reasonably be
expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in the Nature of Business</I>.<I> </I>No Loan Party shall, nor shall it permit any of its Subsidiaries to, engage in any business
or activity if as a result the general nature of the business of such Loan Party or any of its Subsidiaries would be changed in
any material respect from the general nature of the business engaged in by it as of the Closing Date or a Related Line of Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness</I>.
No Loan Party shall, nor shall it permit any of its Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness,
including liabilities under any Hedge Agreement, except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Obligations of the Loan Parties and their Subsidiaries owing to the Agent and the Lenders (and their Affiliates);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
owed pursuant to Hedge Agreements entered into in the ordinary course of business and not for speculative purposes with Persons
other than Lenders (or their Affiliates);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;intercompany
Indebtedness among the Loan Parties to the extent permitted by Section&nbsp;6.14;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
Indebtedness consisting of Capitalized Lease Obligations of the Loan Parties, and (ii) Indebtedness secured by a Lien that is (A)
placed upon fixed or capital assets, acquired, constructed or improved by the Loan Parties so long as each such Lien shall only
attach to the property to be acquired, and the Indebtedness incurred shall not exceed one hundred percent (100%) of the purchase
price of the item or items purchased; <I>provided</I> that the aggregate outstanding principal amount (using Capitalized Lease
Obligations in lieu of principal amount, in the case of any Capital Lease) of Indebtedness permitted by this subpart (d) shall
not exceed $5,500,000 in the aggregate at any one time outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantees
made by the Parent of Indebtedness allowed under this Section 6.11, <I>provided</I> that such guarantees are made in the ordinary
course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior
Facility Debt in an aggregate principal amount not to exceed the amount permitted by the Senior Subordination Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;endorsement
of items for deposit or collection of commercial paper received in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
incurred under the Bonding Agreements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
under tax-favored or government-sponsored financing transactions; <I>provided</I> that (x) the terms of such transactions and
the Loan Parties thereto have been approved by the Agent in its reasonable discretion and (ii) the aggregate principal amount
of such Indebtedness shall not exceed $1,100,000 at any one time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unsecured
Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $825,000
in the aggregate at any one time outstanding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
in respect of netting services, overdraft protections and other like services, in each case incurred in the ordinary course of
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens</I>.
No Loan Party shall, nor shall it permit any of its Subsidiaries to, create, incur or suffer to exist any Lien on any of its Property;
<I>provided</I> that the foregoing shall not prevent the following (the Liens described below, the <I>&ldquo;Permitted Liens&rdquo;</I>):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;inchoate
Liens for the payment of Taxes which are not yet delinquent or the payment of which is not required by Section&nbsp;6.6;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising by statute in connection with worker&rsquo;s compensation, unemployment insurance, old age benefits, social security obligations,
Taxes, assessments, statutory obligations or other similar charges (other than Liens arising under ERISA), good faith cash deposits
in connection with bids, tenders, contracts, or leases to which any Loan Party or any Subsidiary of any Loan Party is a party or
other cash deposits required to be made in the ordinary course of business, provided in each case that the obligation is not for
borrowed money and that the obligation secured is not overdue or, if overdue, is being contested in good faith by appropriate proceedings
which prevent enforcement of the matter under contest and for which adequate reserves have been established in accordance with
GAAP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
in respect of property or assets imposed by law that were incurred in the ordinary course of business, such as carriers&rsquo;,
suppliers&rsquo;, warehousemen&rsquo;s, materialmen&rsquo;s and mechanics&rsquo; Liens and other similar Liens arising in the ordinary
course of business, that do not in the aggregate materially detract from the value of such property or assets or materially impair
the use thereof in the operation of the business of the Borrower or any of its Subsidiaries and do not secure any Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
created by or pursuant to the Senior Credit Agreement and the Senior Facility Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
on Property of any Loan Party or any Subsidiary of any Loan Party created solely for the purpose of securing Indebtedness permitted
by Section&nbsp;6.11(d), representing or incurred to finance the purchase price of Property; <I>provided</I> that, no such Lien
shall extend to or cover other Property of such Loan Party or such Subsidiary other than the respective Property so acquired, and
the principal amount of indebtedness secured by any such Lien shall at no time exceed the purchase price of such Property, as reduced
by repayments of principal thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;easements,
permits, rights-of-way, encroachments, restrictions, zoning or building codes or ordinances, other land use laws regulating the
use or occupancy of real property or the activities conducted thereon which are imposed by any Governmental Authority and other
similar encumbrances against real property incurred in the ordinary course of business which, in the aggregate, are not substantial
in amount and which do not and are not likely, either individually or in the aggregate, to involve a substantial and prolonged
disruption of the business activities of any Loan Party or a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
granted to the Bonding Company to secure the performance of surety bonds in accordance with the terms of the Bonding Agreements;
<I>provided</I> that (i) such Liens are not perfected by the filing of a UCC Financing Statement, and (ii) such Liens do not include
cash deposits or the issuance of letters of credit for the benefit of the Bonding Company, in each case, in excess of $1,100,000
in the aggregate; <I>provided </I>that the Existing Letters of Credit (as defined in the Senior Credit Agreement) shall be permitted
hereunder notwithstanding the foregoing limit of $1,100,000 in the aggregate in clause (iii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising from the rights of lessors under leases that are not Capital Leases (including financing statements regarding Property
subject to a lease) not in violation of the requirements of this Agreement; <I>provided</I> that such Liens are only in respect
of the Property subject to, and secure only, the respective lease (and any other lease with the same or an affiliated lessor);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
arising in connection with financing transactions permitted by Section 6.11(i); <I>provided</I> that such Liens do not at any time
encumber any Property except that financed in such transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
consisting of judgment or judicial attachment liens (other than for the payment of Taxes) in respect of judgments, the existence
of which do not constitute an Event of Default; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
in favor of collecting banks arising under Section 4-210 of the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidation,
Merger, and Sale of Assets</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, wind up, liquidate or dissolve
its affairs or merge or consolidate, or convey, sell, lease, or otherwise dispose of all or any part of its Property, including
any disposition as part of any sale-leaseback transactions except that this Section shall not prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale and lease of inventory in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer or other disposition of any tangible personal property that, in the reasonable judgment of the Loan Parties or their
Subsidiaries, has become obsolete, or worn out, or is no longer used or useful in the business of the Loan Parties and their Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer, lease, or other disposition of Property of any Loan Party to another Loan Party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
merger (or dissolution) of any Loan Party with and into the Borrower or any other Loan Party, <I>provided</I> that, in the case
of any merger (or dissolution) involving the Borrower, the Borrower is the legal entity surviving the merger (or dissolution);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
disposition or sale of Cash Equivalents on consideration for cash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale of vehicles in the ordinary course of business that are owned by the Loan Parties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
disposition or sale of the Florida Property, <I>provided </I>that the proceeds are used and applied as required by Section 2.8(b);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sale, transfer, lease, or other disposition of Property of any Loan Party or any Subsidiary of any Loan party (including any disposition
of Property as part of a sale and leaseback transaction) having an aggregate fair market value of not more than $275,000 during
any fiscal year of the Borrower; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dispositions
resulting from an Event of Loss, provided that the proceeds are used and applied as required by Section 2.8(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advances,
Investments, and Loans</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make an
Investment except that this Section shall not prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;receivables
created in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in cash and Cash Equivalents; <I>provided</I> that the aggregate amount of all investments in cash and Cash Equivalents not held
in an account with the Senior Agent or an account with another Senior Lender subject to a control agreement in favor of the Senior
Agent, in form and substance reasonably acceptable to the Senior Agent, shall not exceed $110,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
(including debt obligations) (x) received in connection with the bankruptcy or reorganization of suppliers and customers and (y)
in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of
business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Loan Parties&rsquo; existing Investments in their respective Subsidiaries on the Closing Date, and Investments made from time to
time in other Loan Parties (other than the Parent);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;intercompany
advances made from time to time among the Loan Parties in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permitted
Acquisitions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;loans
and advances to employees (i) for business-related travel expenses, moving expenses costs of replacement homes, business machines
or supplies, automobiles and other similar expenses, in each case incurred in the ordinary course of business and (ii) to finance
the purchase of Ownership Interests of Limbach, Inc. pursuant to that certain Omnibus Incentive Plan of Limbach, Inc., <I>provided
</I>that the aggregate outstanding amount of all such loans and advances under this clause (g) shall not exceed $550,000 in the
aggregate at any one time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;workers
compensation deposits, payment of any premiums on insurance policies, if any, and other deposits made in the ordinary course of
any Loan Party&rsquo;s business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in joint ventures of up to $1,100,000 in the aggregate at any one time, so long as (A) any Indebtedness for borrowed money at any
time Guaranteed by any Loan Party on or after the date of such Investment is permitted Indebtedness under Section 6.11 of this
Agreement and no such Indebtedness is secured by Liens on any of the Property of any Loan Party, (B) the Borrower provides the
Agent with reasonable notice of all Investments to be made in joint ventures and provides any documents relating thereto reasonably
requested by the Agent, and (C) both before and after such Investments, no Default or Event of Default exists hereunder; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Investments in addition to those otherwise permitted by this Section in an amount not to exceed $275,000 in the aggregate at any
one time outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted
Payments</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, declare or make any
Restricted Payments; <I>provided, however,</I> that the foregoing shall not operate to prevent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
making of dividends or distributions by any Subsidiary to the Borrower or by any Subsidiary to any other Loan Party (other than
the Parent) that is the parent entity of such Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
making of Tax Distributions to the Parent and the Parent may, in turn, make Tax Distributions to Limbach, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;so
long as no Event of Default or Default exists or would result therefrom, the Borrower may purchase or redeem (or make distributions
to Limbach, Inc. to permit Limbach, Inc. to purchase or redeem) equity interests of Limbach, Inc. held by employees upon the termination
of such employees, pursuant to that certain Omnibus Incentive Plan of Limbach, Inc., not to exceed $110,000 in any fiscal year
of the Borrower or $550,000 in the aggregate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions
to the Parent and the Parent may, in turn, make distributions to Limbach, Inc., to pay (i) general administrative costs and expenses
in an aggregate amount not to exceed $1,000,000 in any fiscal year of the Parent, (ii) customary indemnifications of officers and
directors, and (iii) customary directors&rsquo; fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on Restrictions</I>. No Loan Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective any restriction on the ability of any such Loan Party or to (a)&nbsp;pay dividends
or make any other distributions on any Ownership Interests owned by a Loan Party or any Subsidiary, (b)&nbsp;pay or repay any Indebtedness
owed to any Loan Party or any Subsidiary, (c)&nbsp;make loans or advances to any Loan Party or any Subsidiary, (d)&nbsp;transfer
any of its Property to any Loan Party or any Subsidiary, (e)&nbsp;encumber or pledge any of its assets to or for the benefit of
the Agent, or (f)&nbsp;guaranty the Guaranteed Obligations; <I>provided</I> that, the foregoing shall not prevent restrictions
contained in any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on Issuances of New Ownership Interests by Subsidiaries</I>. No Loan Party will permit any of its Subsidiaries to issue any new
Ownership Interests (including by way of sales of treasury stock); <I>provided </I>that, notwithstanding the foregoing, (a)&nbsp;Subsidiaries
shall be permitted to issue new Ownership Interests in connection with their creation, so long as such creation is in compliance
with Section 6.18, (b)&nbsp;so long as no Change of Control is caused thereby, the Loan Parties and their Subsidiaries shall be
permitted to issue Ownership Interests to effect a Permitted Acquisition and (c)&nbsp;the Loan Parties and their Subsidiaries shall
be permitted to issue new Ownership Interests in connection with the exercise of stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
on the Creation of Subsidiaries</I>. Notwithstanding anything to the contrary contained in this Agreement, no Loan Party will,
nor will it permit any of its Subsidiaries to, establish, create or acquire after the Closing Date any Subsidiary; <I>provided</I>
that the Loan Parties shall be permitted to establish or create Wholly-owned Subsidiaries so long as at least thirty (30) days
(or such shorter period agreed to by the Agent) prior written notice thereof is given to the Agent, and the Loan Parties timely
comply with the requirements of Section&nbsp;4 (at which time Schedule 5.10 shall be deemed to include a reference to such Subsidiary).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Covenants</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Total Leverage
Ratio</I>. As of the last day of each fiscal quarter of the Borrower, the Borrower and its Subsidiaries shall not permit the Total
Leverage Ratio to be greater than 3.75:1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>[Reserved].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Fixed
Charge Coverage Ratio.</I> As of the last day of each fiscal quarter of the Borrower, the Borrower and its Subsidiaries shall
maintain a Fixed Charge Coverage Ratio of not less than 1.00:1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Minimum
Tangible Net Worth.</I> The Loan Parties shall not permit the Tangible Net Worth to be less than $7,200,000 (the &ldquo;<I>Minimum
Tangible Net Worth</I>&rdquo;) at any time from and including the Closing Date to the end of the fiscal quarter ending December
31, 2016; <I>provided</I> that, as of January 1, 2017, and on January 1 of each fiscal year of the Parent thereafter, the Minimum
Tangible Net Worth shall increase by twenty-five percent (25%) of Net Income for the Parent&rsquo;s immediately prior fiscal year,
to the extent such Net Income is a positive amount (<I>i.e.</I> Minimum Tangible Net Worth shall not decrease on January 1 of
any fiscal year when the Net Income of the Parent&rsquo;s immediately prior fiscal year is less than zero ($0.00)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Equity
Cure.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Cash
Equity Contribution Requirements.</I> In the event the Borrower and its Subsidiaries fail to comply with the financial covenants
set forth in this Section&nbsp;6.20(a), (b), (c) or (d) as of the last day of any fiscal quarter, any cash equity contribution
by Limbach, Inc. to the Parent, which, in turn, will make a cash equity contribution to the Borrower, after the last day of such
fiscal quarter and on or prior to the day that is fifteen (15) days after the day on which financial statements are required to
be delivered for such fiscal quarter will, at the irrevocable election of the Borrower, be included in the calculation of EBITDA
solely for the purposes of determining compliance with such covenants at the end of such fiscal quarter and any subsequent period
that includes such fiscal quarter (any such equity contribution so included in the calculation of EBITDA, a &ldquo;<I>Specified
Equity Contribution</I>&rdquo;); <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notice
of the Borrower&rsquo;s intent to receive a Specified Equity Contribution shall be delivered in writing no later than the day on
which financial statements are required to be delivered for the applicable fiscal quarter,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
amount of any Specified Equity Contribution will be no greater than the amount required to cause the Borrower to be in compliance
with such covenants,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Specified Equity Contributions will be disregarded for purposes of the calculation of EBITDA for all other purposes, including
calculating basket levels, pricing, determining compliance with incurrence based or <I>pro forma</I> calculations or conditions,
and other items governed by reference to EBITDA,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
shall be no more than three (3) Specified Equity Contributions during the term of this Agreement,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
each consecutive two fiscal quarter period, there shall be a period of at least one (1) fiscal quarter in respect of which no Specified
Equity Contribution is made,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(F)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to the Senior Subordination Agreement, the proceeds received by the Borrower from all Specified Equity Contributions shall be promptly
used by the Borrower to prepay the Loans in the manner set forth in Section 2.8(d), and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(G)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loans prepaid with the proceeds of Specified Equity Contributions shall be deemed outstanding for purposes of determining compliance
with such covenants for the current fiscal quarter and any subsequent period that includes such fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notwithstanding anything to the
contrary in this Agreement, upon timely receipt by the Borrower in cash of the appropriate Specified Equity Contribution, if after
giving effect thereto as set forth above no Event of Default would then exist under Section&nbsp;6.20(a), (b), (c) and/or (d) on
a <I>pro forma</I> basis, the applicable Event(s) of Default under Section&nbsp;6.20(a), (b), (c) and/or (d) shall be deemed cured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Equity Cure Terms. </I>Notwithstanding the foregoing, no single Specified Equity Contribution shall exceed $1,000,000 and the Specified
Equity Contributions shall not exceed $2,500,000 in the aggregate during the term of this Agreement. In the event that (A)&nbsp;no
Event of Default exists other than that arising due to the failure of the Loan Parties to comply with the financial covenants set
forth in Section&nbsp;6.20(a), (b). (c) or (d), and (B)&nbsp;such Specified Equity Contribution if fully consummated would be sufficient
in accordance with the terms hereof to cause the Borrower and its Subsidiaries to be in compliance with Section&nbsp;6.20(a), (b),
(c) and/or (d), as applicable, as of the relevant date of determination, then from and following the date of the occurrence of
the applicable Event of Default and until the date that is the earlier of (x)&nbsp;fifteen (15) days subsequent to the date the
applicable financial statements are required to be delivered and (y)&nbsp;the date, if any, on which the Borrower notifies the
Agent in writing that such Specified Equity Contribution shall not be exercised, then neither Agent nor any Lender shall exercise
any remedies set forth in Section&nbsp;2.4(c) or Section&nbsp;7 during such period solely as a result of the existence of such
Event of Default; <I>provided</I>, that in the event notice of such Specified Equity Contribution is given but such Specified Equity
Contribution is not exercised, the Agent (acting at the request or with the consent of the Required Lenders) may elect pursuant
to Section&nbsp;2.4(c) to have the outstanding Obligations accrue interest at the default rates effective retroactively from the
date of the occurrence of the applicable Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Sanctions Programs. </I> (a)&nbsp;Each Loan Party shall at all times comply with the requirements of all Sanctions Programs
applicable to such Loan Party and shall cause each of its Subsidiaries to comply with the requirements of all Sanctions Programs
applicable to such Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Loan Party shall provide the Agent and the Lenders any information regarding such Loan Party, its Affiliates, and its Subsidiaries
necessary for the Agent and the Lenders to comply with all applicable Sanctions Programs; subject however, in the case of Affiliates,
to such Loan Party&rsquo;s ability to provide information applicable to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Loan Party obtains actual knowledge or receives any written notice that such Loan Party, any of its officers or directors,
any Affiliate, or any Subsidiary is named on any then current Sanctions List (such occurrence, a <I>&ldquo;Sanctions Event&rdquo;</I>),
such Loan Party shall promptly (i) give written notice to the Agent and the Lenders of such Sanctions Event, and (ii) comply with
all applicable laws with respect to such Sanctions Event (regardless of whether the party included on the Sanctions List is located
within the jurisdiction of the United States of America), including the Sanctions Programs, and each Loan Party hereby authorizes
and consents to the Agent and the Lenders taking any and all steps the Agent or the Lenders deem necessary, in their sole but reasonable
discretion, to avoid violation of all applicable laws with respect to any such Sanctions Event, including the requirements of the
Sanctions Programs (including the freezing and/or blocking of assets and reporting such action to OFAC and/or the U.S. Department
of Treasury&rsquo;s Office of Foreign Assets Control).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Loan Party will use any proceeds of the Loans to finance or otherwise fund, directly or indirectly, (i) any activity or business
with or related to any Sanctioned Person or any Sanctioned Country or (ii) in any other manner that will result in a violation
of any Sanctions Program by any Person (including any Person participating in the Loans, whether as lender, underwriter, advisor,
investor, or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated
Debt. </I>No Loan Party shall, nor shall it permit any of its Subsidiaries to, (a) amend or modify any of the terms or conditions
relating to Subordinated Debt, (b) make any voluntary prepayment of Subordinated Debt or effect any voluntary redemption thereof;
<I>provided</I>, that the Loan Parties shall be permitted to make a voluntary prepayment of Subordinated Debt so long as (i) immediately
prior to, and after giving <I>pro forma</I> effect to, the voluntary prepayment, (A) the Total Leverage Ratio shall be no greater
than 0.25 less than the most recently applicable Total Leverage Ratio required under Section 6.20(a), (B) the Loan Parties are
in compliance with the most recently applicable covenants set forth in Sections 6.20(c) and (d), (C) no Default or Event of Default
shall exist, and (D) the Borrower has (x) Unused Revolving Credit Commitments (as defined in the Senior Credit Agreement) plus
unrestricted cash and Cash Equivalents and (y) Borrowing Base Availability (as defined in the Senior Credit Agreement) plus unrestricted
cash and Cash Equivalents, in each case, of at least $10,000,000, and (ii) the Borrower has delivered to the Agent a compliance
certificate in the form of Exhibit E attached hereto evidencing compliance with the financial covenants as set forth above, or
(c) make any payment on account of Subordinated Debt, in each case of (a), (b) and (c), that is prohibited under the terms of the
applicable Subordination Agreement. Notwithstanding the foregoing, the Loan Parties may agree to a decrease in the interest rate
applicable thereto or to a deferral of repayment of any of the principal of or interest on the Subordinated Debt beyond the current
due dates therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anti-Layering</I>.
No Loan Party shall, nor shall it cause or permit any of its Subsidiaries to, create, incur or otherwise permit to exist any Indebtedness
that is contractually subordinated in right of payment to any Senior Facility Debt unless such Indebtedness is subordinate in right
of payment to the Obligations to at least the same extent as the Obligations are subordinate in right of payment to such Senior
Facility Debt. For the avoidance of doubt, this provision shall not be deemed to permit any Indebtedness other than permitted Indebtedness
under Section 6.11 of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitations
on Parent. </I> Parent shall not, directly or indirectly, (a)&nbsp;other than with respect to its own Ownership Interests, enter
into or permit to exist any transaction (including the incurrence or assumption of Indebtedness (other than this Agreement, the
other Loan Documents, and Indebtedness permitted by Section 6.11), any purchase, sale, lease or exchange of any Property, or the
rendering of any service) between itself and any other Person or (b) engage in any material business or conduct any material activity
(including the making of any investment or payment other than payments permitted hereunder), in each case, other than:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investments
in the Borrower and Subsidiaries permitted hereunder,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
performance of ministerial activities and payment of taxes and administrative fees necessary for the maintenance of its existence
and compliance with applicable laws and legal, tax and accounting matters related thereto,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;transactions
or activities relating to its employees, directors and officers,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;activities
relating to the performance of obligations under the Loan Documents,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
receipt and payment of Restricted Payments permitted under Section 6.15,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other transaction or activity that Parent is permitted to take under any Loan Document,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
performance of its obligations with respect to the Loan Documents,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;financing
activities, including the issuance of securities, the providing of guarantees, payment of dividends, and making contributions to
the capital of the Borrower, in each instance to the extent expressly permitted hereby,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;holding
any cash or property (but not operating any property of any Loan Party or operating any business, except as otherwise permitted
by this Section),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;providing
indemnification to officers, managers and directors, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;activities
and contractual rights and obligations incidental and reasonably related to the businesses or activities described in clauses (i)
through (x) of this Section 6.25.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonding
Capacity.</I> The Borrower and its Subsidiaries shall (i) have <FONT STYLE="font-family: Times New Roman, Times, Serif">available
bonding capacity under one or more Bonding Agreements in an amount sufficient to operate their respective businesses in the ordinary
course, and (ii) be in compliance in all material respects with all terms and conditions set forth in each Bonding Agreement and
shall not permit a default to occur thereunder, except as </FONT>permitted by Section&nbsp;5.24(b) and to the extent such a default
would not constitute an Event of Default under Section 7.1(l). No Loan Party shall modify any term of any Bonding Agreement such
that the Property subject to any Lien in favor of the Bonding Company attaches to any Property not directly connected to the applicable
Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;6.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use
of Proceeds; Margin Stock</I>. The Borrower shall use all proceeds of the Loans solely for the purposes set forth in, or otherwise
permitted by, Section 5.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board
Observer. </I>(a)<I> </I>Limbach, Inc. shall hold regular meetings of its board of directors (or equivalent governing body) at
least once per fiscal quarter. So long as Alcentra holds at least 75% of the original principal amount of the Loan advanced on
the Closing Date, Alcentra shall be entitled to designate one (1) observer to the board of directors (or equivalent governing body)
of Limbach, Inc. and each of its Subsidiaries, and any committee thereof, which observer shall receive (at the same time and in
the same manner provided to the directors) notice of and copies of all materials provided to directors in connection with, and
shall be entitled to attend and participate in, at the Loan Parties&rsquo; expense, all meetings of the board of directors (or
equivalent governing body) of Limbach, Inc. and each of its Subsidiaries, and any committee thereof. Such observer shall also receive
(at the same time and in the same manner provided to the directors) notice of and copies of all materials provided to the directors
in connection with any actions to be taken by written consent of the board of directors (or equivalent governing body) of Limbach,
Inc. and each of its Subsidiaries, and any committee thereof; provided that such observer shall execute a customary confidentiality
agreement on terms reasonably satisfactory to the board of directors (or equivalent governing body) of Limbach, Inc. relating to
such observer&rsquo;s attendance at such board meetings; provided further that notwithstanding anything herein to the contrary,
the board of directors (or equivalent governing body) of Limbach, Inc. and each of its Subsidiaries, and any committee thereof
may exclude such observer from any portion of such meeting, as determined in good faith, in order to preserve attorney-client privilege
or to avoid a conflict of interest where the discussions in such meeting directly relate to matters pertaining to the Loans as
to which the interests of the Loan Parties and Alcentra are reasonably expected to be adverse. The Loan Parties shall reimburse
Alcentra for all reasonable expenses (including all travel, meal and lodging expenses) incurred by its observer in connection with
attending any meetings described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.29.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prohibition
on Assignment of Senior Facility Debt. </I>No Loan Party shall consent to the assignment, sale or other transfer of the Senior
Facility Debt to Limbach, Inc. or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing
Matters. </I>The Loan Parties shall execute and deliver the documents and complete the tasks expressed on Schedule 6.30 in each
instance within the time limits specified on such Schedule<I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Events
of Default and Remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Events
of Default.</I> Any one or more of the following shall constitute an <I>&ldquo;Event of Default&rdquo;</I> hereunder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">((i) default in the payment
when due (whether at the stated maturity thereof or at any other time provided for in this Agreement) of all or any part of the
principal of any Loan or (ii) default for a period of five (5) Business Days in the payment when due of any interest, fee or any
other Obligation payable hereunder or under any other Loan Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;default
in the observance or performance of any covenant set forth in Sections&nbsp;6.1, 6.4, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12, 6.13, 6.14,
6.15, 6.16, 6.17, 6.18, 6.20, 6.21, 6.22, 6.23, 6.25, 6.26, 6.27, 6.28, 6.29 or 6.30;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;default
in the observance or performance of any other provision hereof or of any other Loan Document which is not remedied within thirty
(30)&nbsp;days after the earlier of (i) the date on which such default shall first become known to any officer of any Loan Party
or (ii) written notice of such default is given to the Borrower by the Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
representation or warranty made herein or in any other Loan Document or in any certificate delivered to the Agent or the Lenders
pursuant hereto or thereto or in connection with any transaction contemplated hereby or thereby proves untrue in any material respect
as of the date of the issuance or making or deemed making thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;any
event occurs or condition exists (other than those described in subsections&nbsp;(a) through (d) above) which is specified as an
event of default under any of the other Loan Documents (after the expiration of any applicable cure or grace period), or (ii)&nbsp;any
of the Loan Documents shall for any reason not be or shall cease to be in full force and effect or is declared to be null and void,
(iii)&nbsp;any Loan party takes any action for the purpose of terminating, repudiating or rescinding any Loan Document executed
by it or any of its obligations thereunder, or (iv)&nbsp;any Loan Party or any Subsidiary of a Loan Party makes any payment on
account of any Subordinated Debt which is prohibited under the terms of any instrument subordinating such Subordinated Debt to
any Obligations, or any subordination provision in any document or instrument (including, without limitation, any intercreditor
or subordination agreement) relating to any Subordinated Debt shall cease to be in full force and effect, or any Person (including
the holder of any Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;any event shall occur or condition shall exist under the Senior Facility Loan Documents the effect of which is to automatically
accelerate or cause the acceleration of the maturity of the Senior Facility Debt, (ii) any default shall occur under any Indebtedness
of any Loan Party (other than the Obligations and the Senior Indebtedness) aggregating in excess of $550,000, or under any indenture,
agreement or other instrument under which the same may be issued, and such default shall continue for a period of time sufficient
to permit the acceleration of the maturity of any such Indebtedness (whether or not such maturity is in fact accelerated), or any
such Indebtedness shall not be paid when due (whether by demand, lapse of time, acceleration or otherwise), in each case after
giving effect to applicable grace or cure periods, if any, (iii)&nbsp;any default shall occur under any Hedge Agreement of any
Loan Party with any Senior Lender or any Affiliate of a Senior Lender, or (iv)&nbsp;any party to the Senior Subordination Agreement
or to any other Subordination Agreement breaches or violates, or attempts to terminate or challenge the validity of, the Senior
Subordination Agreement or such other Subordination Agreement, or the Senior Subordination Agreement or such other Subordination
Agreement shall be invalid or unenforceable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;any
final judgment or judgments, writ or writs or warrant or warrants of attachment, or any similar process or processes, shall be
entered or filed against any Loan Party, or against any of its Property, in an aggregate amount in excess of $550,000 (except to
the extent fully and unconditionally covered by insurance pursuant to which the insurer has accepted liability therefor in writing
and except to the extent fully and unconditionally covered by an appeal bond, for which such Loan Party has established in accordance
with GAAP a cash or Cash Equivalent reserve in the amount of such judgment, writ or warrant), and which remains undischarged, unvacated,
unbonded or unstayed for a period of thirty (30) days, or any action shall be legally taken by a judgment creditor to attach or
levy upon any Property of any Loan Party to enforce any such judgment, or (ii) any Loan Party shall fail within thirty (30) days
to discharge one or more non-monetary judgments or orders which, individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect, which judgments or orders, in any such case, are not stayed on appeal or otherwise being appropriately
contested in good faith by proper proceedings diligently pursued;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
occurrence of (a) an ERISA Event with respect to a Plan or a Multiemployer Plan that, individually or in the aggregate, has resulted
in or could reasonably be expected to result in liability in excess of $825,000, <I>provided</I> that with respect to an ERISA
Event of the type described in clause (i) of the ERISA Event definition relating to a Multiemployer Plan being in endangered or
critical status, an Event of Default shall occur only if either (i) in addition to the dollar amount set forth above in this clause
(a), a Loan Party or any member of its Controlled Group fails to timely satisfy a requirement resulting from such status or (ii)
the dollar amount set forth above in this clause (a), measured for any one-year period, is exceeded, or (b)&nbsp;any event that
could reasonably be expected to result in the imposition of a Lien under Section 430(k) of the Code or Section 303 or 4068 of ERISA
on any assets of a Loan Party or a Subsidiary of a Loan Party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limbach,
Inc. (i) shall, within ninety (90) days after the Closing Date (which ninety (90) day period may be extended by the Agent in its
sole discretion), fail to submit an application to be listed on the NASDAQ Capital Market or (ii) ceases to have its securities
registered with the Securities and Exchange Commission pursuant to Section 12(b) of the Securities and Exchange Act of 1934;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loan Party shall (i)&nbsp;have entered involuntarily against it an order for relief under the United States Bankruptcy Code, as
amended, (ii)&nbsp;not pay, or admit in writing its inability to pay, its debts generally as they become due, (iii)&nbsp;make an
assignment for the benefit of creditors, (iv)&nbsp;apply for, seek, consent to or acquiesce in, the appointment of a receiver,
custodian, trustee, examiner, liquidator or similar official for it or any substantial part of its Property, (v)&nbsp;institute
any proceeding seeking to have entered against it an order for relief under the United States Bankruptcy Code to adjudicate it
insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its
debts under any Debtor Relief Law or fail to file an answer or other pleading denying the material allegations of any such proceeding
filed against it, (vi)&nbsp;take any action in furtherance of any matter described in parts&nbsp;(i) through (v) above, or (vii)&nbsp;fail
to contest in good faith any appointment or proceeding described in Section&nbsp;7.1(k);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
custodian, receiver, trustee, examiner, liquidator or similar official shall be appointed for any Loan Party, or any substantial
part of any of its Property, or a proceeding described in Section&nbsp;7.1(j)(v) shall be instituted against any Loan Party, and
such appointment continues undischarged or such proceeding continues undismissed or unstayed for a period of sixty (60)&nbsp;days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to the <FONT STYLE="font-family: Times New Roman, Times, Serif">Bonding Agreements:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i) the Bonding
Company for any reason ceases to issue bonds, undertakings or instruments of guaranty and the amount of such reduction in bonding
capacity exceeds $110,000,000 and the Borrower and its Subsidiaries shall fail to cause another Person reasonably acceptable to
the Agent (provided that any such Person shall be deemed to be acceptable if its bonds, undertakings or instruments of guaranty
are accepted by contract providers for the Borrower and its Subsidiaries) to issue bonds, undertakings or instruments of guaranty
pursuant to a Required Bonding Facility within fifteen (15) days of the date that the Bonding Company ceased to issue bonds, undertakings
or instruments of guaranty; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii) (A) at
any time, the Bonding Company for the Borrower or any of its Subsidiaries shall violate any term of the Surety Subordination Agreement,
which violation would adversely affect the rights or interests of the Agent or the Lenders under the Loan Documents and such violation
shall continue for a period of five (5) Business Days after the Agent&rsquo;s delivery of written notice thereof to the Bonding
Company and the Borrower; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii) the Borrower
or any of its Subsidiaries defaults in the payment when due of any amount due under any Bonding Agreement or breaches or defaults
with respect to any other term of any Bonding Agreement and (x) such failure continues unremedied for a period of five (5) Business
Days or (y) if the effect of such failure to pay, default or breach is to cause the Bonding Company to take possession of the work
under any of the bonded contracts of the Borrower or any of its Subsidiaries and value of the contract or project that has been
taken over by the Bonding Company exceeds $550,000 (as determined by the Agent in its reasonable judgment); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iv) the Borrower
or any Subsidiary breaches or defaults with respect to any term under any of the bonded contracts of the Borrower or such Subsidiary,
if the effect of such default or breach is to cause the Bonding Company to take possession of the work under such bonded contract
and value of the contract or project that has been taken over by the Bonding Company exceeds $550,000 (as determined by the Agent
in its reasonable judgment);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
notice of Lien, levy or assessment (other than with respect to a permitted Lien) is filed or recorded with respect to any of the
assets of the Parent or any of its Subsidiaries by the United States, or any department, agency or instrumentality thereof, or
by any state, county, municipality or other governmental agency or any taxes or debts owing at any time or times hereafter to any
one or more of them become a Lien (other than a permitted Lien), upon any of the assets of the Parent or any of its Subsidiaries,
in each case, other than a Lien permitted under Section 6.12);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Parent or any of its Subsidiaries is enjoined, restrained, or in any way prevented by the order of any court or any administrative
or regulatory agency from conducting all or any material part of its business affairs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
shall be instituted in any court criminal proceedings against the Parent or any of its Subsidiaries or the Parent or any of its
Subsidiaries shall be indicted for any crime, in either case, for which the forfeiture of greater than five percent (5.00%) of
the consolidated assets of the Loan Parties is a reasonably likely penalty; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Loan Party shall be subject to suspension or debarment proceedings by the government of the United States, or any department, agency
or instrumentality thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Bankruptcy
Defaults.</I> When any Event of Default exists other than those described in subsection&nbsp;(j) or (k) of Section&nbsp;7.1, the
Agent shall, by written notice to the Borrower, if so directed by the Required Lenders, declare the principal of and the accrued
interest on all outstanding Loans to be forthwith due and payable and thereupon all outstanding Loans, including both principal
and interest thereon, shall be and become immediately due and payable together with all other amounts payable under the Loan Documents
without further demand, presentment, protest or notice of any kind. The Agent, after giving notice to the Borrower pursuant to
Section&nbsp;7.1(c) or this Section&nbsp;7.2, shall also promptly send a copy of such notice to the other Lenders, but the failure
to do so shall not impair or annul the effect of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bankruptcy
Defaults</I>. When any Event of Default described in subsections&nbsp;(j) or (k) of Section&nbsp;7.1 exists, then all outstanding
Obligations shall immediately and automatically become due and payable together with all other amounts payable under the Loan Documents
without presentment, demand, protest or notice of any kind (each of which is hereby waived by the Borrower).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;7.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice
of Default</I>. The Agent shall give notice to the Borrower under Section&nbsp;7.1(c) promptly upon being requested to do so by
any Lender and shall thereupon notify all the Lenders thereof.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Circumstances and Contingencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><I>Section&nbsp;8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increased
Costs</I>. (a)&nbsp;<I>Increased Costs Generally</I>. If any Change in Law shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose
on any Lender any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or
participation therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">and the result of any of the foregoing
shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan
or of maintaining its obligation to make any such Loan, or to reduce the amount of any sum received or receivable by such Lender
or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or other Recipient,
the Borrower will pay to such Lender or other Recipient, as the case may be, such additional amount or amounts as will compensate
such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Capital
Requirements</I>. If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or
such Lender&rsquo;s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing
the rate of return on such Lender&rsquo;s capital or on the capital of such Lender&rsquo;s holding company, if any, as a consequence
of this Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender&rsquo;s holding company
could have achieved but for such Change in Law (taking into consideration such Lender&rsquo;s policies and the policies of such
Lender&rsquo;s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender such
additional amount or amounts as will compensate such Lender or such Lender&rsquo;s or holding company for any such reduction suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certificates
for Reimbursement.</I> A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its
holding company, as the case may be, as specified in Section 8.4(a) or&nbsp;(b) above which shall include the basis for and calculation
of such requested compensation and delivered to the Borrower, shall be conclusive absent manifest error. The Borrower shall pay
such Lender the amount shown as due on any such certificate within ten (10)&nbsp;Business Days after receipt thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Delay
in Requests.</I> Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute
a waiver of such Lender&rsquo;s right to demand such compensation; <I>provided</I> that the Borrower shall not be required to
compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more than nine months prior
to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions, and
of such Lender&rsquo;s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased
costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive
effect thereof).</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appointment
and Authorization of Agent</I>. Each Lender hereby appoints Alcentra Capital Corporation, a Maryland corporation, to act on its
behalf as the Agent under the Loan Documents and authorizes the Agent to take such action as Agent on its behalf and to exercise
such powers under the Loan Documents as are delegated to the Agent by the terms thereof, together with such actions and powers
as are reasonably incidental thereto. The provisions of this Section&nbsp;9 are solely for the benefit of the Agent and the Lenders,
and neither the Borrower nor any other Loan Party shall have rights as a third-party beneficiary of any of such provisions. It
is understood and agreed that the use of the term &ldquo;agent&rdquo; in this Agreement or in any other Loan Document (or any other
similar term) with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create
or reflect only an administrative relationship between contracting parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agent
and Its Affiliates</I>. The Agent shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise or refrain from exercising such rights and powers as though it were not the Agent, and the Agent and its Affiliates may
accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and
generally engage in any kind of banking, trust, financial advisory, or other business with any Loan Party or any Affiliate of any
Loan Party as if it were not the Agent under the Loan Documents and without any duty to account therefor to the Lenders. The terms
<I>&ldquo;Lender&rdquo;</I> and <I>&ldquo;Lenders&rdquo;</I>, unless otherwise expressly indicated or unless the context otherwise
clearly requires, includes the Agent in its individual capacity as a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exculpatory
Provisions</I>. (a) The Agent shall not have any duties or obligations except those expressly set forth herein and in the other
Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the
Agent and its Related Parties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is
continuing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan
Documents); <I>provided</I> that the Agent shall not be required to take any action that, in its opinion or the opinion of its
counsel, may expose the Agent to liability or that is contrary to any Loan Document or any Legal Requirement, including for the
avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law, and the Agent shall in
all cases be fully justified in failing or refusing to act hereunder or under any other Loan Document unless it first receives
any further assurances of its indemnification from the Lenders that it may require, including prepayment of any related expenses
and any other protection it requires against any and all costs, expense, and liability which may be incurred by it by reason of
taking or continuing to take any such action; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to any Loan Party or any of its Affiliates that is communicated to or obtained
by the Person serving as the Agent or any of its Affiliates in any capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
instructions of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent
shall believe in good faith shall be necessary, under the circumstances as provided in Section&nbsp;10.10) shall be binding upon
all the Lenders. Neither the Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Agent
(i)&nbsp;with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall
be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section&nbsp;10.10),
or (ii)&nbsp;in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction
by final and nonappealable judgment. In all cases in which the Loan Documents do not require the Agent to take specific action,
the Agent shall be fully justified in using its discretion in failing to take or in taking any action thereunder. The Agent shall
be entitled to assume that no Default or Event of Default exists, and shall be deemed not to have knowledge of any Default or Event
of Default, unless and until notice describing such Default is given to the Agent in writing by the Borrower or a Lender. If the
Agent receives from any Loan Party a written notice of an Event of Default pursuant to Section&nbsp;6.1, the Agent shall promptly
give each of the Lenders written notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Agent nor any of its Related Parties shall be responsible for or have any duty to ascertain or inquire into (i)&nbsp;any statement,
warranty or representation made in or in connection with this Agreement or any other Loan Document, or the advancing of the Loans,
(ii)&nbsp;the contents of any certificate, report or other document delivered under this Agreement or any other Loan Documents
or in connection herewith or therewith, (iii)&nbsp;the performance or observance of any of the covenants, agreements or other terms
or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv)&nbsp;the validity, enforceability,
effectiveness, genuineness, value, worth, or collectability of this Agreement, any other Loan Document or any other agreement,
instrument, document or writing furnished in connection with any Loan Document, or (v) the satisfaction of any condition set forth
in Section&nbsp;3 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent;
and the Agent makes no representation of any kind or character with respect to any such matter mentioned in this sentence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance
by Agent</I>. The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by
the proper Person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that
such condition is satisfactory to such Lender unless the Agent shall have received notice to the contrary from such Lender prior
to the making of such Loan. The Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants
and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice
of any such counsel, accountants or experts. The Agent may treat the payee of any Note or any Loan as the holder thereof until
written notice of transfer shall have been filed with the Agent signed by such payee in form satisfactory to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delegation
of Duties</I>. The Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other
Loan Document by or through any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any
and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions
of this Section 9 shall apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply
to their respective activities in connection with the syndication of the Facilities as well as activities as Agent. The Agent shall
not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction
determines in a final and nonappealable judgment that the Agent acted with gross negligence or willful misconduct in the selection
of such sub-agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Reliance
on Agent and Other Lenders. </I>Each Lender acknowledges that it has, independently and without reliance upon the Agent or any
other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without
reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall
from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this
Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resignation
of Agent and Successor Agent</I>. (a) The Agent may at any time give notice of its resignation to the Lenders and the Borrower.
Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to
appoint a successor and, so long as no Event of Default shall have occurred and be continuing, such appointment shall be within
the Borrower&rsquo;s consent (which shall not be unreasonably withheld). If no such successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within thirty (30)&nbsp;days after the retiring Agent gives notice of
its resignation (or such earlier day as shall be agreed by the Required Lenders) (the <I>&ldquo;Resignation Effective Date&rdquo;</I>),
then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor Agent meeting the qualifications
set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such
notice on the Resignation Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
effect from the Resignation Effective Date (1) the retiring or removed Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Agent on behalf of
the Lenders under any of the Loan Documents, the retiring or removed Agent shall continue to hold such collateral security until
such time as a successor Agent is appointed) and (2) except for any indemnity payments owed to the retiring or removed Agent, all
payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each
Lender directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the acceptance
of a successor&rsquo;s appointment as Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring or removed Agent (other than any rights to indemnity payments owed to the retiring
or removed Agent), and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or under
the other Loan Documents. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring or removed Agent&rsquo;s resignation or removal
hereunder and under the other Loan Documents, the provisions of this Section 9 and Section&nbsp;10.12 shall continue in effect
for the benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring or removed Agent was acting as Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 9.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 9.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 9.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Other Duties; Designation of Additional Agents</I>. The Agent shall have the continuing right, for purposes hereof, at any time
and from time to time to designate one or more of the Lenders (and/or its or their Affiliates) as &ldquo;syndication agents,&rdquo;
&ldquo;documentation agents,&rdquo; &ldquo;arrangers&rdquo; or other designations for purposes hereto, but such designation shall
have no substantive effect, and such Lenders and their Affiliates shall have no additional powers, duties or responsibilities as
a result thereof; <I>provided</I> that if at any time there is no Person acting as Agent hereunder and under the other Loan Documents,
then (i) the Required Lenders shall have the rights otherwise given to the Agent pursuant to this Section&nbsp;9 and (ii) subject
to Section 10.7, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and
as authorized by the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorization
to Enter into, and Enforcement of the Guaranty</I>. The Lenders irrevocably authorize the Agent to execute and deliver the Senior
Subordination Agreement, the Surety Subordination Agreement, each Subordination Agreement and each Guaranty Agreement on their
behalf and on behalf of each of their Affiliates and to take such action and exercise such powers under the Senior Subordination
Agreement, the Surety Subordination Agreement, any Subordination Agreement or any Guaranty Agreement as the Agent considers appropriate,
<I>provided</I> the Agent shall not amend the Senior Subordination Agreement, the Surety Subordination Agreement, any Subordination
Agreement or any Guaranty Agreement unless such amendment is agreed to in writing by the Required Lenders. Each Lender acknowledges
and agrees that it will be bound by the terms and conditions of the Senior Subordination Agreement, the Surety Subordination Agreement,
each Subordination Agreement and each Guaranty Agreement upon the execution and delivery thereof by the Agent. Except as otherwise
specifically provided for herein, no Lender (or its Affiliates) other than the Agent shall have the right to institute any suit,
action or proceeding in equity or at law for the execution of any trust or power in respect of any Guaranty Agreement or for the
appointment of a receiver or for the enforcement of any other remedy under any Guaranty Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agent
May File Proofs of Claim</I>. In case of the pendency of any proceeding under any Debtor Relief Law, the Agent (irrespective of
whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective
of whether the Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated), by intervention
in such proceeding or otherwise:</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims
of the Lenders and the Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Lenders and the Agent and their respective agents and counsel and all other amounts due the Lenders and the Agent under Sections
2.13 and 10.12(a)) allowed in such judicial proceeding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
to make such payments to the Agent and, in the event that the Agent shall consent to the making of such payments directly to the
Lenders, to pay to the Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agent
and its agents and counsel, and any other amounts due the Agent under Sections 2.13 and 10.12(a). Nothing contained herein shall
be deemed to authorize the Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Agent to vote
in respect of the claim of any Lender in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;9.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranty
Matters</I>. The Lenders irrevocably authorize the Agent, at its option and in its discretion, to release any Guarantor from its
obligations under its Guaranty Agreement if such Person ceases to be a Loan Party as a result of a transaction permitted under
the Loan Documents. Upon request by the Agent at any time, the Required Lenders will confirm in writing the Agent&rsquo;s authority
to release any Guarantor from its obligations under its Guaranty Agreement pursuant to this Section 9.13.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes</I>.
(a)&nbsp;<I>FATCA</I>. For purposes of this Section 10.1, the term &ldquo;applicable law&rdquo; includes FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payments
Free of Taxes</I>. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made
without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the
good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment
by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall
timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if
such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after
such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under
this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding
been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payment
of Other Taxes by the Loan Parties</I>. Each Loan Party<B> </B>shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Agent timely reimburse it for the payment of, any Other Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Loan Parties</I>. The Loan Parties shall jointly and severally indemnify each Recipient, within ten (10) days after demand
therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts
payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender (with a copy to the Agent), or by the Agent on its own behalf or on behalf of a Lender, shall
be conclusive absent manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Lenders</I>. Each Lender shall severally indemnify the Agent, within ten (10) days after demand therefor, for (i) any Indemnified
Taxes attributable to such Lender (but only to the extent that the Loan Parties have not already indemnified the Agent for such
Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender&rsquo;s
failure to comply with the provisions of Section 10.9(d) relating to the maintenance of a Participant Register and (iii) any Excluded
Taxes attributable to such Lender, in each case, that are payable or paid by the Agent in connection with any Loan Document, and
any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed
or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any
Lender by the Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any
and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Agent to the Lender from any
other source against any amount due to the Agent under this Section&nbsp;10.1(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Evidence
of Payments</I>. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this
Section 10.1, such Loan Party shall deliver to the Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory
to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Status
of Lenders</I>. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document shall deliver to the Borrower and the Agent, at the time or times reasonably requested by the Borrower
or the Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Agent as will permit
such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested
by the Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the
Borrower or the Agent as will enable the Borrower or the Agent to determine whether or not such Lender is subject to backup withholding
or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion,
execution and submission of such documentation (other than such documentation set forth in Section 10.1(g)(ii)(A), (ii)(B) and
(ii)(D) below) shall not be required if in the Lender&rsquo;s reasonable judgment such completion, execution or submission would
subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position
of such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of the foregoing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Lender that is a U.S. Person shall deliver to the Borrower and the Agent on or prior to the date on which such Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed
originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Agent (in such number of copies
as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Agent), whichever of the following is applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &ldquo;interest&rdquo; article of such tax treaty
and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &ldquo;business profits&rdquo; or &ldquo;other
income&rdquo; article of such tax treaty;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of IRS Form W-8ECI;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x)
a certificate in form reasonably acceptable to the Agent representing that such Foreign Lender is not a &ldquo;bank&rdquo; within
the meaning of Section 881(c)(3)(A) of the Code, a &ldquo;10 percent shareholder&rdquo; of the Borrower within the meaning of Section
881(c)(3)(B) of the Code, or a &ldquo;controlled foreign corporation&rdquo; described in Section 881(c)(3)(C) of the Code (a <I>&ldquo;U.S.
Tax Compliance Certificate&rdquo;</I>) and (y) executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable; or</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 0pt 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate in form reasonably acceptable to the Agent, IRS Form
W-9, and/or other certification documents from each beneficial owner, as applicable; <I>provided</I> that if the Foreign Lender
is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate in form reasonably acceptable to the Agent on behalf of each
such direct and indirect partner;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed originals of any
other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax,
duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or
the Agent to determine the withholding or deduction required to be made; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Agent at the time or times prescribed by law and
at such time or times reasonably requested by the Borrower or the Agent such documentation prescribed by applicable law (including
as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or
the Agent as may be necessary for the Borrower and the Agent to comply with their obligations under FATCA and to determine that
such Lender has complied with such Lender&rsquo;s obligations under FATCA or to determine the amount to deduct and withhold from
such payment. Solely for purposes of this clause (D), &ldquo;FATCA&rdquo; shall include any amendments made to FATCA after the
date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update
such form or certification or promptly notify the Borrower and the Agent in writing of its legal inability to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment
of Certain Refunds</I>. If any party determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified pursuant to this Section 10.1 (including by the payment of additional amounts
pursuant to this Section 10.1), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of
indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out of pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this Section&nbsp;10.1(h) (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this Section&nbsp;10.1(h), in no event will the indemnified party be required
to pay any amount to an indemnifying party pursuant to this Section&nbsp;10.1(h) the payment of which would place the indemnified
party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification
had not been deducted, withheld, or otherwise imposed and the indemnification payments or additional amounts giving rise to such
refund had never been paid. This Section&nbsp;10.1(h) shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other
Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Required
Elections</I>. In the event that the Borrower is classified as a partnership for federal income tax purposes, or any taxable years
for which Sections 6221 through 6241 of the Code apply to the Borrower, the partnership representative shall, to the extent eligible,
make the election under Section 6221(b) of the Code with respect to the Borrower and take any other action such as disclosures
and notifications necessary to effectuate such election. If the election described in the preceding sentence is not available,
to the extent applicable, the partnership representative shall make the election under Section 6226(a) of the Code with respect
to the Borrower and take any other action such as filings, disclosures and notifications necessary to effectuate such election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Survival</I>.
Each party&rsquo;s obligations under this Section 10.1 shall survive the resignation or replacement of the Agent or any assignment
of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all obligations under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitigation
Obligations; Replacement of Lenders.</I> (a) <I>Designation of a Different Lending Office</I>. If any Lender requests compensation
under Section&nbsp;8.4, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section&nbsp;10.1, then such Lender shall (at the request of the Borrower)
use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights
and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation
or assignment (i)&nbsp;would eliminate or reduce amounts payable pursuant to Section&nbsp;8.4 or&nbsp;Section&nbsp;10.1, as the
case may be, in the future, and (ii)&nbsp;would not subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Replacement
of Lenders</I>. If any Lender requests compensation under Section&nbsp;8.4, or if the Borrower is required to pay any Indemnified
Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section&nbsp;10.1
and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 10.2(a),
or if any Lender is a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender
and the Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section&nbsp;10.9(b)), all of its interests, rights (other than its existing rights to
payments pursuant to Section 8.4 or Section 10.1) and obligations under this Agreement and the related Loan Documents to an Eligible
Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); <I>provided</I>
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall have paid to the Agent the assignment fee (if any) specified in Section 10.9(b)(iv);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued
fees and all other amounts payable to it hereunder and under the other Loan Documents from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of any such assignment resulting from a claim for compensation under Section&nbsp;8.4 or payments required to be made
pursuant to Section&nbsp;10.1 such assignment will result in a reduction in such compensation or payments thereafter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
assignment does not conflict with applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignee shall have
consented to the applicable amendment, waiver or consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A Lender shall not be required
to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Waiver, Cumulative Remedies.</I> No delay or failure on the part of the Agent or any Lender or on the part of the holder or holders
of any of the Obligations in the exercise of any power or right under any Loan Document shall operate as a waiver thereof or as
an acquiescence in any default, nor shall any single or partial exercise of any power or right preclude any other or further exercise
thereof or the exercise of any other power or right. The rights and remedies hereunder of the Agent, the Lenders and of the holder
or holders of any of the Obligations are cumulative to, and not exclusive of, any rights or remedies which any of them would otherwise
have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Business
Days.</I> If the payment of any obligation or the performance of any covenant, duty or obligation hereunder becomes due and payable
on a day which is not a Business Day, the due date of such payment or performance shall be extended to the next succeeding Business
Day on which date such payment or performance shall be due and payable. In the case of any payment of principal falling due on
a day which is not a Business Day, interest on such principal amount shall continue to accrue during such extension at the rate
per annum then in effect, which accrued amount shall be due and payable on the next scheduled date for the payment of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Survival
of Representations.</I> All representations and warranties made herein or in any other Loan Document or in certificates given pursuant
hereto or thereto shall survive the execution and delivery of this Agreement and the other Loan Documents, and shall continue in
full force and effect with respect to the date as of which they were made as long as any Obligations (other than contingent obligations
not due and owing) remain unpaid hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Survival
of Indemnities</I>. All indemnities and other provisions relative to reimbursement to the Lenders of amounts sufficient to protect
the yield of the Lenders with respect to the Loans, including, but not limited to, Sections 8.1, 8.4, 10.4 and 10.13, shall survive
the termination of this Agreement and the other Loan Documents and the payment of the Obligations (other than contingent obligations
not due and owing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sharing
of Payments by Lenders.</I> If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of its Loans or other Obligations hereunder resulting in such Lender receiving
payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such Obligations greater than
its <I>pro rata </I>share thereof as provided herein, then the Lender receiving such greater proportion shall (a)&nbsp;notify the
Agent of such fact, and (b)&nbsp;purchase (for cash at face value) participations in the Loans and such other obligations of the
other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by
the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and
other amounts owing them; <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations
shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
provisions of this Section 10.7 shall not be construed to apply to (x)&nbsp;any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement, or (y)&nbsp;any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Loans to any assignee or participant, other than to any Loan Party (as to which the
provisions of this Section 10.7 shall apply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each Loan Party consents to the foregoing
and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to
the foregoing arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of each Loan Party in the amount of such participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notices;
Effectiveness; Electronic Communication.</I> (a)&nbsp;<I>Notices Generally.</I> Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in Section 10.8(b) below), all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered
mail or sent by facsimile or electronic mail as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">if to any Loan Party:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Limbach Facility Services LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">13261 Mid Atlantic Blvd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Laurel, MD 20708</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in">&nbsp;</TD>
    <TD STYLE="width: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John T. Jordan, Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(301) 623-4799</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Facsimile:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(412) 359-2287</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">john.jordan@limbachinc.com</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 1in">with a copy
(which shall not constitute notice to):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Honigman Miller Schwartz and Cohn LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">2290 First National Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">660 Woodward Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Detroit, MI 48226</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Joshua Opperer</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Telephone:</TD><TD STYLE="text-align: justify">(313) 465-7456</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Facsimile:</TD><TD STYLE="text-align: justify">(313) 465-7457</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">if to the Agent:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Alcentra Capital Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">200 Park Avenue, 7th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, NY 10166</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Branko Krmpotic</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Telephone:</TD><TD STYLE="text-align: justify">(212) 922-8071</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">branko.krmpotic@alcentra.com;
                                         <U>mmreporting@alcentra.com</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">with a copy (which shall not constitute notice to):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Smith, Anderson, Blount, Dorsett, Mitchell &amp; Jernigan,
L.L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Wells Fargo Capitol Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">150 Fayetteville Street, Suite 2300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">P.O. Box 2611</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Raleigh, NC 27602</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Anne E. Croteau</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Telephone:</TD><TD STYLE="text-align: justify">(919) 821-6658</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">acroteau@smithlaw.com</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">if to a Lender, to it at its address (or facsimile number)
set forth in its Administrative Questionnaire.</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; text-align: justify">Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile
shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic
communications, to the extent provided in Section&nbsp;10.8(b) below, shall be effective as provided in said Section&nbsp;10.8(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Electronic
Communications</I>. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication
(including e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent. The Agent or the Borrower may,
in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures
approved by it, <I>provided</I> that approval of such procedures may be limited to particular notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless the Agent otherwise
prescribes, (i)&nbsp;notices and other communications sent to an e-mail address shall be deemed received upon the sender&rsquo;s
receipt of an acknowledgement from the intended recipient (such as by the &ldquo;return receipt requested&rdquo; function, as available,
return e-mail or other written acknowledgement), and (ii)&nbsp;notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing
clause&nbsp;(i), of notification that such notice or communication is available and identifying the website address therefore,
<I>provided</I> that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the
normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of
business on the next business day for the recipient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Change
of Address, Etc.</I> Any party hereto may change its address or facsimile number for notices and other communications hereunder
by written notice to the other parties hereto. In addition, each Lender agrees to notify the Agent from time to time to ensure
that the Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address
to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successors
and Assigns; Assignments and Participations</I>.&nbsp;&nbsp;(a)&nbsp;&nbsp;<I>Successors and Assigns Generally.</I> The provisions
of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns
permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations under any Loan
Document without the prior written consent of the Agent and each Lender, and no Lender may assign or otherwise transfer any of
its rights or obligations hereunder except (i)&nbsp;to an Eligible Assignee in accordance with the provisions of Section 10.9(b)
below, (ii)&nbsp;by way of participation in accordance with the provisions of Section 10.9(d) below or (iii)&nbsp;by way of pledge
or assignment of a security interest subject to the restrictions of Section 10.9(f) below (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in Section 10.9(d) below and, to the extent expressly contemplated hereby, the Related Parties of each of the Agent and
the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Assignments
by Lenders.</I> Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations
under this Agreement (including all or a portion of the Loans at the time owing to it); <I>provided</I> that any such assignment
shall be subject to the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Minimum
Amounts</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the case of an assignment of the entire remaining amount of the Loans at the time owing to the assigning Lender or contemporaneous
assignments to related Approved Funds that equal at least the amount specified in Section&nbsp;10.9(b)(i)(B) below in the aggregate
or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In any case of an assignment not described in Section&nbsp;10.9(b)(i)(A) above, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Agent or, if <I>&ldquo;Trade Date&rdquo;</I> is specified in the Assignment and Assumption,
as of the Trade Date) shall not be less than $1,000,000, unless each of the Agent and, so long as no Event of Default has occurred
and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Proportionate
Amounts</I>. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender&rsquo;s
rights and obligations under this Agreement with respect to the Loan assigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Required
Consents</I>. No consent shall be required for any assignment except to the extent required by Section 10.9(b)(i)(B) above and,
in addition:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default<I>
</I>has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an Affiliate of a Lender
or an Approved Fund; <I>provided</I> that the Borrower shall be deemed to have consented to any such assignment unless it shall
object thereto by written notice to the Agent within five (5) Business Days after having received notice thereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Agent (such consent not to be unreasonably withheld, delayed, or conditioned) shall be required for assignments
to a Person who is not a Lender, an Affiliate of a Lender or an Approved Fund;</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Assignment
and Assumption</I>. The parties to each assignment shall execute and deliver to the Agent an Assignment and Assumption, together
with a processing and recordation fee of $3,500; <I>provided</I> that the Agent may, in its sole discretion, elect to waive such
processing and recordation fee in the case of any assignment. The Eligible Assignee, if it shall not be a Lender, an Affiliate
of a Lender, or an Approved Fund with respect to a Lender, shall deliver to the Agent an Administrative Questionnaire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Assignment to Certain Persons</I>. No Lender shall assign any of its rights or obligations hereunder to the Borrower or any of
the Borrower&rsquo;s Affiliates or Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Assignment to Natural Persons</I>. No such assignment shall be made to a natural person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to acceptance and recording thereof
by the Agent pursuant to Section&nbsp;10.9(c), from and after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to
the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and,
in the case of an Assignment and Assumption covering all of the assigning Lender&rsquo;s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections&nbsp;8.1, 8.4, 10.1
and 10.12 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes
of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.9(d)
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Register.</I>
The Agent, acting solely for this purpose as an agent of the Borrower (such agency being solely for tax purposes), shall maintain
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,
and the principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time
(the <I>&ldquo;Register&rdquo;</I>). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the
Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder
for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Participations.</I>
Any Lender may at any time, without the consent of, or notice to, the Borrower or the Agent, sell participations to any Person
(other than a natural person or the Borrower or any of the Borrower&rsquo;s Affiliates or Subsidiaries) (each, a <I>&ldquo;Participant&rdquo;</I>)
in all or a portion of such Lender&rsquo;s rights and/or obligations under this Agreement (including all or a portion of the Loans
owing to it); <I>provided</I> that (i)&nbsp;such Lender&rsquo;s obligations under this Agreement shall remain unchanged, (ii)&nbsp;such
Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii)&nbsp;the Borrower,
the Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender&rsquo;s rights
and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section
10.12(c) with respect to any payments made by such Lender to its Participant(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <I>provided</I> that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in Section&nbsp;10.10(i) and (ii) that affects such Participant. The Borrower agrees that each Participant
shall be entitled to the benefits of Sections&nbsp;8.1, 8.4, and 10.1 (subject to the requirements and limitations therein, including
the requirements under Section 10.1(g) (it being understood that the documentation required under Section 10.1(g) shall be delivered
to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
Section 10.9(b) above; <I>provided</I> that such Participant (A) agrees to be subject to the provisions of Section&nbsp;10.2 as
if it were an assignee under Section&nbsp;10.2(b) above; and (B) shall not be entitled to receive any greater payment under Section&nbsp;8.4
or Section&nbsp;10.1, with respect to any participation, than its participating Lender would have been entitled to receive, except
to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired
the applicable participation. Each Lender that sells a participation agrees, at the Borrower's request and expense, to use reasonable
efforts to cooperate with the Borrower to effectuate the provisions of Section&nbsp;10.2(b) with respect to any Participant. To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section&nbsp;10.13<I> </I>as though it
were a Lender; <I>provided</I> that such Participant agrees to be subject to Section&nbsp;10.7 as though it were a Lender. Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which
it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant&rsquo;s
interest in the Loans or other obligations under the Loan Documents (the <I>&ldquo;Participant Register&rdquo;</I>); <I>provided</I>
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Participant or any information relating to a Participant&rsquo;s interest in any Loans or its other Obligations under any Loan
Document) to any Person except to the extent that such disclosure is necessary to establish that such Loan or other Obligation
is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register
as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance
of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certain
Pledges.</I> Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <I>provided</I>
that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee
or assignee for such Lender as a party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Electronic
Execution of Assignments.</I> The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature,&rdquo; and words of like
import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the
Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or
any other similar state laws based on the Uniform Electronic Transactions Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments</I>.<I>
</I> Any provision of this Agreement or the other Loan Documents may be amended or waived if, but only if, such amendment or waiver
is in writing and is signed by (a) the Borrower, (b) the Required Lenders (or the Agent with the consent of the Required Lenders),
and (c) if the rights or duties of the Agent are affected thereby, the Agent; <I>provided</I> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
amendment or waiver pursuant to this Section&nbsp;10.10 shall (A)&nbsp;reduce or waive the amount of or postpone the date for any
scheduled payment (but not including any mandatory prepayment) of any principal of or interest on any Loan (except in connection
with the waiver of acceptability of any post-default increase in interest rates (which waiver shall be effective with the consent
of the Required Lenders)) or of any fee payable hereunder without the consent of the Lender to which such payment is owing or which
has committed to make such Loan (or participate therein) hereunder or (B)&nbsp;change the application of payments set forth in
Section&nbsp;2.9 without the consent of any Lender adversely affected thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
amendment or waiver pursuant to this Section&nbsp;10.10 shall, unless signed by each Lender, change the definition of Required
Lenders, change the provisions of this Section 10.10, release any material Guarantor (except as otherwise provided for in the Loan
Documents), affect the number of Lenders required to take any action hereunder or under any other Loan Document, or change or waive
any provision of any Loan Document that provides for the <I>pro rata</I> nature of disbursements or payments to Lenders; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
addition to the other requirements of this Section 10.10, no amendment to Section 11 shall be made without the consent of the Guarantor(s)
affected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything to the contrary
herein, any provision of this Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders
and the Agent if, at the time such amendment becomes effective, each Lender not consenting thereto receives payment (including
pursuant to an assignment to a replacement Lender in accordance with the terms herein) in full of the principal of and interest
accrued on each Loan made by it and all other Obligations owing to it or accrued for its account under this Agreement,.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Headings</I>.<I>
</I>Section headings used in this Agreement are for reference only and shall not affect the construction of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses;
Indemnity; Damage Waiver</I>. (a)&nbsp;<I>Costs and Expenses</I>. The Borrower shall pay (i)&nbsp;all reasonable out-of-pocket
expenses incurred by the Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the
Agent), in connection with the syndication of the Loans, the preparation, negotiation, execution, delivery and administration of
this Agreement and the other Loan Documents, or any amendments, modifications or waivers of the provisions hereof or thereof (whether
or not the transactions contemplated hereby or thereby shall be consummated), and (ii)&nbsp;all out-of-pocket expenses incurred
by the Agent or any Lender (including the fees, charges and disbursements of any counsel for the Agent or any Lender), in connection
with any Default or Event of Default hereunder or with the enforcement or protection of its rights (including all such expenses
incurred in connection with any proceeding under the United States Bankruptcy Code involving any Loan Party or any of its Subsidiaries
as a debtor thereunder) (A)&nbsp;in connection with this Agreement and the other Loan Documents, including its rights under this
Section, or (B)&nbsp;in connection with the Loans made hereunder, including all such out-of-pocket expenses incurred during any
workout, restructuring or negotiations in respect of such Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Borrower</I>. The Borrower shall indemnify the Agent (and any sub-agent thereof), each Lender, and each Related Party of
any of the foregoing Persons (each such Person being called an <I>&ldquo;Indemnitee&rdquo;</I>) against, and hold each Indemnitee
harmless from, any and all Damages (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred
by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any Guarantor) other than such Indemnitee
and its Related Parties arising out of, in connection with, or as a result of (i)&nbsp;the execution or delivery of this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of
their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii)&nbsp;any
Loan or the use or proposed use of the proceeds therefrom, (iii)&nbsp;any actual or alleged violation of Environmental Laws, the
presence, Release or threatened Release of Hazardous Materials on or from any property owned or operated by the Borrower or any
of its Subsidiaries or at any off-site location for which the Borrower or any of its Subsidiaries may be liable, or any Environmental
Claim related in any way to the Borrower or any of its Subsidiaries, or (iv)&nbsp;any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought
by a third party or by the Borrower or any Guarantor, and regardless of whether any Indemnitee is a party thereto, <I>provided</I>
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities
or related expenses (x)&nbsp;are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted
from the gross negligence or willful misconduct of such Indemnitee, or (y)&nbsp;result from a claim brought by the Borrower or
any Guarantor against an Indemnitee for breach in bad faith of such Indemnitee&rsquo;s obligations hereunder or under any other
Loan Document, if the Borrower or such Guarantor has obtained a final and nonappealable judgment in its favor on such claim as
determined by a court of competent jurisdiction. This Section 10.12(b) shall not apply with respect to Taxes other than any Taxes
that represent losses or damages arising from any claim not related to any such Taxes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reimbursement
by Lenders</I>. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under Sections&nbsp;10.12(a)
or&nbsp;(b) to be paid by it to the Agent (or any sub-agent thereof) or any Related Party of the Agent, each Lender severally agrees
to pay to the Agent (or any such sub-agent) or such Related Party, as the case may be, such Lender&rsquo;s Percentage (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (including any such
unpaid amount in respect of a claim asserted by such Lender), <I>provided</I> that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agent (or any such sub-agent)
or against any Related Party of the Agent acting for the Agent (or any such sub-agent) in connection with such capacity. The obligations
of the Lenders under this Section 10.12(c) are several and not joint. The Agent shall be entitled to offset amounts received for
the account of a Lender under this Agreement against unpaid amounts due from such Lender to the Agent hereunder (whether as fundings
of participations, indemnities or otherwise), but shall not be entitled to offset against amounts owed to the Agent by any Lender
arising outside of this Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Waiver
of Consequential Damages, Etc.</I> To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or the use
of the proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information
or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection
with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Payments</I>.
All amounts due under this Section shall be payable promptly after demand therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Survival</I>.
The obligations of the Borrower under this Section shall survive the termination of this Agreement and the payment of Obligations
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set-off</I>.
If an Event of Default shall have occurred and be continuing, each Lender and each of their respective Affiliates is hereby authorized
at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final, in whatever currency) at any time held, and other obligations (in whatever
currency) at any time owing, by such Lender or any such Affiliate, to or for the credit or the account of any Loan Party against
any and all of the obligations of such Loan Party now or hereafter existing under this Agreement or any other Loan Document to
such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this Agreement
or any other Loan Document and although such obligations of such Loan Party may be contingent or unmatured or are owed to a branch,
office or Affiliate of such Lender different from the branch, office or Affiliate holding such deposit or obligated on such Indebtedness.
The rights of each Lender and its respective Affiliates under this Section are in addition to other rights and remedies (including
other rights of setoff) that such Lender or its Affiliates may have. Each Lender and agrees to notify the Borrower and the Agent
promptly after any such setoff and application; <I>provided</I> that the failure to give such notice shall not affect the validity
of such setoff and application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governing
Law; Jurisdiction; Etc</I>. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>(a)&nbsp;<I>Governing
Law</I>. <FONT STYLE="font-variant: small-caps">This Agreement and the other Loan Documents and any claims, controversy, dispute,
or cause of action (whether in contract or tort or otherwise) based on, arising out of, or relating to this Agreement or any other
Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby
and thereby shall be governed by, and construed in accordance with, the law of the state of New York, without regard to conflicts
of law provisions (other than sections 5-1401 and 5-1402 of the New York General Obligations Law).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Jurisdiction</I>.
Each Loan Party irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind
or description, whether in law or equity, whether in contract or in tort or otherwise, against the Agent, any Lender, or any Related
Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or
thereto, in each case in any forum other than the courts of the State of New York<B> </B>sitting in New York<B> </B>County, and
of the United States District Court of the Southern District of New York, and any appellate court from any thereof, and each of
the parties hereto irrevocably and unconditionally submits to the non-exclusive<B> </B>jurisdiction of such courts and agrees that
all claims in respect of any such action, litigation or proceeding may be heard and determined in such New York<B> </B>State court
or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment
in any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by applicable Legal Requirements. Nothing in this Agreement or in any other Loan Document shall
affect any right that the Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or
any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Waiver
of Venue</I>. Each Loan Party irrevocably and unconditionally waives, to the fullest extent permitted by applicable Legal Requirements,
any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to
this Agreement or any other Loan Document in any court referred to in Section&nbsp;10.14(b) above. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by applicable Legal Requirements, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Service
of Process</I>. Each party hereto irrevocably consents to service of process in any action or proceeding arising out of or relating
to any Loan Document, the manner provided for notices (other than telecopy or email) in Section&nbsp;10.8. Nothing in this Agreement
or any other Loan Document will affect the right of any party hereto to serve process in any other manner permitted by applicable
Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severability
of Provisions</I> Any provision of any Loan Document which is unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such unenforceability without invalidating the remaining provisions hereof or affecting the validity
or enforceability of such provision in any other jurisdiction. All rights, remedies and powers provided in this Agreement and the
other Loan Documents may be exercised only to the extent that the exercise thereof does not violate any applicable mandatory provisions
of law, and all the provisions of this Agreement and other Loan Documents are intended to be subject to all applicable mandatory
provisions of law which may be controlling and to be limited to the extent necessary so that they will not render this Agreement
or the other Loan Documents invalid or unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excess
Interest</I>. Notwithstanding any provision to the contrary contained herein or in any other Loan Document, no such provision shall
require the payment or permit the collection of any amount of interest in excess of the maximum amount of interest permitted by
applicable law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the Loans
or other obligations outstanding under this Agreement or any other Loan Document (<I>&ldquo;Excess Interest&rdquo;</I>). If any
Excess Interest is provided for, or is adjudicated to be provided for, herein or in any other Loan Document, then in such event
(a)&nbsp;the provisions of this Section shall govern and control, (b)&nbsp;no Loan Party nor any endorser shall be obligated to
pay any Excess Interest, (c)&nbsp;any Excess Interest that the Agent or any Lender may have received hereunder shall, at the option
of the Agent, be (i)&nbsp;applied as a credit against the then outstanding principal amount of Obligations hereunder and accrued
and unpaid interest thereon (not to exceed the maximum amount permitted by applicable law), (ii)&nbsp;refunded to the Borrower,
or (iii)&nbsp;any combination of the foregoing, (d)&nbsp;the interest rate payable hereunder or under any other Loan Document shall
be automatically subject to reduction to the maximum lawful contract rate allowed under applicable usury laws (the <I>&ldquo;Maximum
Rate&rdquo;</I>), and this Agreement and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified
to reflect such reduction in the relevant interest rate, and (e)&nbsp;No Loan Party nor any endorser shall have any action against
the Agent or any Lender for any Damages whatsoever arising out of the payment or collection of any Excess Interest. Notwithstanding
the foregoing, if for any period of time interest on any of Borrower&rsquo;s Obligations is calculated at the Maximum Rate rather
than the applicable rate under this Agreement, and thereafter such applicable rate becomes less than the Maximum Rate, the rate
of interest payable on the Borrower&rsquo;s Obligations shall remain at the Maximum Rate until the Lenders have received the amount
of interest which such Lenders would have received during such period on the Borrower&rsquo;s Obligations had the rate of interest
not been limited to the Maximum Rate during such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction</I>.
The parties acknowledge and agree that the Loan Documents shall not be construed more favorably in favor of any party hereto based
upon which party drafted the same, it being acknowledged that all parties hereto contributed substantially to the negotiation of
the Loan Documents. The provisions of this Agreement relating to Subsidiaries and to Guarantors, respectively, shall apply only
during such times as the Borrower has one or more Subsidiaries and as there are one or more Guarantors, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lenders&rsquo;
Obligations Several</I>. The obligations of the Lenders hereunder are several and not joint. Nothing contained in this Agreement
and no action taken by the Lenders pursuant hereto shall be deemed to constitute the Lenders a partnership, association, joint
venture or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA
Patriot Act</I>. Each Lender hereby notifies the Borrower that pursuant to the requirements of the Patriot Act it is required to
obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower
and other information that will allow such Lender to identify the Borrower in accordance with the Patriot Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waiver
of Jury Trial</I>. <FONT STYLE="font-variant: small-caps">Each of the Loan Parties, the Agent, and the Lenders hereby irrevocably
waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in any legal proceeding directly
or indirectly arising out of or relating to this Agreement or any other Loan Document or the transactions contemplated hereby or
thereby (whether based on contract, tort or any other theory). Each party hereto (a)&nbsp;certifies that no representative, agent
or attorney of any other person has represented, expressly or otherwise, that such other person would not, in the event of litigation,
seek to enforce the foregoing waiver and (b)&nbsp;acknowledges that it and the other parties hereto have been induced to enter
into this Agreement and the other Loan Documents by, among other things, the mutual waivers and certifications in this section.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treatment
of Certain Information; Confidentiality</I>. Each of the Agent and the Lenders agrees to maintain the confidentiality of the Information
(as defined below), except that Information may be disclosed (a)&nbsp;to its Affiliates and to its Related Parties (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed
to keep such Information confidential), (b)&nbsp;to the extent required or requested by any regulatory authority purporting to
have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association
of Insurance Commissioners), (c)&nbsp;to the extent required by applicable laws or regulations or by any subpoena or similar legal
process, (d)&nbsp;to any other party hereto, (e)&nbsp;in connection with the exercise of any remedies hereunder or under any other
Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder
or thereunder, (f)&nbsp;subject to an agreement containing provisions substantially the same as those of this Section, to any assignee
of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this Agreement
<I>provided</I> that such assignee or Participant is subject to the provisions of this Section 10.21, (g)&nbsp;on a confidential
basis to (i) any rating agency in connection with rating the Loan Parties or the Loans or (ii) the CUSIP Service Bureau or any
similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Loans, (h) with the consent
of the Borrower, or (i)&nbsp;to the extent such Information (A)&nbsp;becomes publicly available other than as a result of a breach
of this Section or (B)&nbsp;becomes available to the Agent, any Lender, or any of their respective Affiliates on a nonconfidential
basis from a source other than the Borrower. In addition, the Agent and the Lenders may disclose the existence of this Agreement
and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers
to the Agent and the Lenders in connection with the administration of this Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">For purposes of this
Section, <I>&ldquo;Information&rdquo;</I> means all information received from any Loan Party relating to the Loan Parties or any
of their respective businesses, other than any such information that is available to the Agent or any Lender on a nonconfidential
basis prior to disclosure by any Loan Party or any of its Subsidiaries, <I>provided</I> that, in the case of information received
from any Loan Party or any of its Subsidiaries after the date hereof, such information is clearly identified at the time of delivery
as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered
to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality
of such Information as such Person would accord to its own confidential information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counterparts;
Integration; Effectiveness. </I>This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement
and the other Loan Documents, and any separate letter agreements with respect to fees payable to the Agent, constitute the entire
contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings,
oral or written, relating to the subject matter hereof. Except as provided in Section&nbsp;3.1, this Agreement shall become effective
when it shall have been executed by the Agent and when the Agent shall have received counterparts hereof that, when taken together,
bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement
by facsimile or in electronic (<I>e.g.</I> &ldquo;pdf&rdquo; or &ldquo;tif&rdquo;) format shall be effective as delivery of a manually
executed counterpart of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;10.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Powers Coupled with Interest</I>. All powers of attorney and other authorizations granted to the Lenders, the Agent and any Persons
designated by the Agent or any Lender pursuant to any provisions of this Agreement or any of the other Loan Documents shall be
deemed coupled with an interest and shall be irrevocable until the Termination Date. All such powers of attorney shall be for security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 10.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Managerial
Assistance</I>. The Borrower acknowledges that Alcentra is a Business Development Company under the Investment Company Act (in
such capacity, &ldquo;<I>BDC Purchaser</I>&rdquo;). BDC Purchaser will make available significant managerial assistance to the
Borrower as required by the Investment Company Act. As such, BDC Purchaser&rsquo;s officers, directors and employees are available
to provide the Borrower with guidance and counsel with respect to various management concerns, including operations or business
objectives, implementing best practices and policies, selective participation in board and management meetings (to the extent BDC
Purchaser does not already have a board observer position in connection with the financing), consulting with the Borrower&rsquo;s
officers and executives on significant management matters, reviewing proposed annual budgets and operating plans or providing other
organizational and financial guidance. In connection with providing such managerial assistance, BDC Purchaser may need to examine
the books and records of the Borrower and inspect its facilities at reasonable times and intervals concerning the general status
of the Borrower&rsquo;s financial condition and operations, provided that access to confidential proprietary information and facilities
need not be provided. BDC Purchaser agrees that any confidential information provided to or learned by it in connection with providing
such managerial assistance shall be kept in confidence in keeping with the confidentiality provisions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guarantees</I>. To induce the Lenders to make the Loans described herein and in consideration of benefits expected to accrue to
the Borrower by reason of the Loans and for other good and valuable consideration, receipt of which is hereby acknowledged, the
Parent and each Subsidiary party hereto<B> </B>(including any Subsidiary executing an Additional Guarantor Supplement substantially
in the form attached hereto as Exhibit&nbsp;G or such other form reasonably acceptable to the Agent) and the Borrower (as to the
Guaranteed Obligations of another Loan Party) hereby unconditionally and irrevocably guarantees jointly and severally to the Agent
and the Lenders the due and punctual payment of all present and future Obligations, including, but not limited to, the due and
punctual payment of principal of and interest on the Loans and the due and punctual payment of all other Obligations now or hereafter
owed by the Borrower under the Loan Documents, in each case as and when the same shall become due and payable, whether at stated
maturity, by acceleration, or otherwise, according to the terms hereof and thereof (including all interest, costs, fees, and charges
after the entry of an order for relief against the Borrower or such other obligor in a case under the United States Bankruptcy
Code or any similar proceeding, whether or not such interest, costs, fees and charges would be an allowed claim against the Borrower
or any such obligor in any such proceeding). In case of failure by the Borrower or other obligor punctually to pay any Guaranteed
Obligations guaranteed hereby, each Guarantor hereby unconditionally, jointly and severally agrees to make such payment or to cause
such payment to be made punctually as and when the same shall become due and payable, whether at stated maturity, by acceleration,
or otherwise, and as if such payment were made by the Borrower or such obligor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantee
Unconditional</I>. The obligations of each Guarantor under this Section&nbsp;11 shall be unconditional and absolute and, without
limiting the generality of the foregoing, shall not be released, discharged, or otherwise affected by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
extension, renewal, settlement, compromise, waiver, or release in respect of any obligation of any Loan Party or other obligor
or of any other guarantor under this Agreement or any other Loan Document or by operation of law or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
modification or amendment of or supplement to this Agreement or any other Loan Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
change in the corporate existence, structure, or ownership of, or any proceeding under any Debtor Relief Law affecting, the Borrower
or other obligor, any other guarantor, or any of their respective assets, or any resulting release or discharge of any obligation
of any Loan Party or other obligor or of any other guarantor contained in any Loan Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
existence of any claim, set-off, or other rights which any Loan Party or other obligor or any other guarantor may have at any time
against the Agent, any Lender or any other Person, whether or not arising in connection herewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
failure to assert, or any assertion of, any claim or demand or any exercise of, or failure to exercise, any rights or remedies
against any Loan Party or other obligor, any other guarantor, or any other Person or Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
application of any sums by rights of set-off, counterclaim, or similar rights to any obligation of any Loan Party or other obligor,
regardless of what obligations of any Loan Party or other obligor remain unpaid, including the Guaranteed Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
invalidity or unenforceability relating to or against any Loan Party or other obligor or any other guarantor for any reason of
this Agreement or of any other Loan Document or any provision of applicable law or regulation purporting to prohibit the payment
by any Loan Party or other obligor or any other guarantor of the principal of or interest on any Loan or any other amount payable
under the Loan Documents; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other act or omission to act or delay of any kind by the Agent, any Lender or any other Person or any other circumstance whatsoever
that might, but for the provisions of this clause (h), constitute a legal or equitable discharge of the obligations of any Guarantor
under this Section&nbsp;11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discharge
Only upon Termination Date; Reinstatement in Certain Circumstances</I>. Each Guarantor&rsquo;s obligations under this Section&nbsp;11
shall remain in full force and effect until the Termination Date. If at any time any payment of the principal of or interest on
any Loan or any other amount payable by any Loan Party or other obligor or any Guarantor under the Loan Documents is rescinded
or must be otherwise restored or returned upon the insolvency, bankruptcy, or reorganization of such Loan Party or other obligor
or of any guarantor, or otherwise, each Guarantor&rsquo;s obligations under this Section&nbsp;11 with respect to such payment shall
be reinstated at such time as though such payment had become due but had not been made at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subrogation</I>.
Each Guarantor agrees it will not exercise any rights which it may acquire by way of subrogation, reimbursement or indemnification
by any payment made hereunder, or otherwise, until all the Guaranteed Obligations (other than any contingent or indemnification
obligations not then due) shall have been paid in full or collateralized in a manner reasonably acceptable to the Lender or Affiliate
of a Lender to whom such obligations are owed. If any amount shall be paid to a Guarantor on account of such subrogation, reimbursement
or indemnification rights at any time prior to the Termination Date, such amount shall be held in trust for the benefit of the
Agent and the Lenders (and their Affiliates) and shall forthwith be paid to the Agent for the benefit of the Lenders (and their
Affiliates) or be credited and applied upon the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordination</I>.
Each Guarantor hereby subordinates the payment of all indebtedness, obligations, and liabilities of the Borrower or any other Loan
Party owing to such Guarantor, whether now existing or hereafter arising, to the indefeasible payment in full in cash of all Guaranteed
Obligations (other than any contingent obligations not due and owing). During the existence of any Event of Default, subject to
Section&nbsp;11.4 above, any such indebtedness, obligation, or liability of the Borrower or any other Loan Party owing to such
Guarantor shall be enforced and performance received by such Guarantor as trustee for the benefit of the holders of the Guaranteed
Obligations<B> </B>and the proceeds thereof shall be paid over to the Agent for application to the Guaranteed Obligations (whether
or not then due), but without reducing or affecting in any manner the liability of such Guarantor under this Section&nbsp;11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waivers</I>.
Each Guarantor irrevocably waives acceptance hereof, presentment, demand, protest, and any notice not provided for herein, as well
as any requirement that at any time any action be taken by the Agent, any Lender, or any other Person against the Borrower or any
other Loan Party or other obligor, another guarantor, or any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limit
on Recovery</I>. Notwithstanding any other provision hereof, the right of recovery against each Guarantor under this Section&nbsp;11
shall not exceed $1.00 less than the lowest amount which would render such Guarantor&rsquo;s obligations under this Section 11
void or voidable under applicable law, including fraudulent conveyance law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stay
of Acceleration</I>. If acceleration of the time for payment of any amount payable by the Borrower or other Loan Party or other
obligor under this Agreement or any other Loan Document is stayed upon the insolvency, bankruptcy or reorganization of the Borrower
or such other Loan Party or obligor, all such amounts otherwise subject to acceleration under the terms of this Agreement or the
other Loan Documents shall nonetheless be payable by the Guarantors hereunder forthwith on demand by the Agent made at the request
or otherwise with the consent of the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit
to Guarantors</I>. The Loan Parties are engaged in related businesses and integrated to such an extent that the financial strength
and flexibility of the Borrower and the other Loan Parties has a direct impact on the success of each Guarantor. Each Guarantor
will derive substantial direct and indirect benefit from the extensions of credit hereunder, and each Guarantor acknowledges that
this guarantee is necessary or convenient to the conduct, promotion and attainment of its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;11.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 11.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantor
Covenants.</I> Each Guarantor shall take such action as the Borrower is required by this Agreement to cause such Guarantor to take,
and shall refrain from taking such action as the Borrower is required by this Agreement to prohibit such Guarantor from taking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Pages to Follow]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement is entered
into between us for the uses and purposes hereinabove set forth as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"><FONT STYLE="font-variant: small-caps"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"><FONT STYLE="font-variant: small-caps"><I></I></FONT></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><I>&ldquo;Borrower&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><I>&ldquo;Guarantors&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Limbach Holdings LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    /s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Limbach Company LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Harper Limbach LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Limbach Company LP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"><FONT STYLE="font-variant: small-caps"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Loan Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Harper Limbach Construction LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By </FONT></TD>
    <TD STYLE="width: 47%; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: John T. Jordan Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President and Treasurer</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; text-align: center; text-indent: 0in">[Signature Page to Loan
Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><I>&ldquo;Agent&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Alcentra Capital Corporation</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">, a Maryland corporation<FONT STYLE="font-variant: small-caps">,</FONT> as a Lender and as Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Alcentra NY LLC as Advisor to Alcentra Capital Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Branko Krmpotic</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Branko Krmpotic</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Senior Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><I>&ldquo;Lenders&rdquo;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Alcentra Capital Corporation</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">, a Maryland corporation<FONT STYLE="font-variant: small-caps">,</FONT> as a Lender and as Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Alcentra NY LLC as Advisor to Alcentra Capital Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Branko Krmpotic</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Branko Krmpotic</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Senior Vice President</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Loan
Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;D</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-variant: small-caps"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Note</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: justify">THIS NOTE IS SUBJECT TO THE SUBORDINATION
AND INTERCREDITOR AGREEMENT, DATED AS OF JULY 20, 2016, AMONG THE MAKER OF THIS NOTE, ALCENTRA CAPITAL CORPORATION, AS SUBORDINATE
AGENT AND FIFTH THIRD BANK, AS SENIOR AGENT, UNDER WHICH THIS NOTE AND THE MAKER&rsquo;S OBLIGATIONS HEREUNDER ARE SUBORDINATED
IN THE MANNER SET FORTH THEREIN TO THE PRIOR PAYMENT OF CERTAIN INDEBTEDNESS AND OBLIGATIONS TO THE HOLDERS OF SENIOR FACILITY
DEBT AS DEFINED IN THE SUBORDINATION AND INTERCREDITOR AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Note</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: justify"></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: 50%; padding: 0; font-size: 10pt; text-align: justify"><FONT STYLE="font-variant: small-caps">$_______________</FONT></TD>
    <TD STYLE="width: 50%; padding: 0; font-size: 10pt; text-align: right">____________, 20__</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">For</FONT>
<FONT STYLE="font-variant: small-caps">Value</FONT> <FONT STYLE="font-variant: small-caps">Received</FONT>, the undersigned, <FONT STYLE="font-variant: small-caps">Limbach
Facility Services LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), hereby unconditionally
promises to pay to _________________________ (the <I>&ldquo;Lender&rdquo;</I>) or its registered assigns at the principal office
of the Lender (or such other location as the Lender may designate to the Borrower), in immediately available funds, the principal
sum of ___________________ Dollars ($__________) or, if less, the aggregate unpaid principal amount of the Loan made or maintained
by the Lender to the Borrower pursuant to the Loan Agreement (as defined below), together with interest on the principal amount
of such Loan from time to time outstanding hereunder at the rates, and payable in the manner and on the dates, specified in the
Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Note (this <I>&ldquo;Note&rdquo;</I>)
is one of the Notes referred to in the Loan Agreement dated as of July 20, 2016, among the Borrower, Limbach Holdings LLC, a Delaware
limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders party thereto, and
Alcentra Capital Corporation, a Maryland corporation, as Agent (as amended, restated, modified or supplemented from time to time,
the <I>&ldquo;Loan Agreement&rdquo;</I>), and this Note and the holder hereof are entitled to all the benefits and security provided
for thereby or referred to therein, to which Loan Agreement reference is hereby made for a statement thereof. All defined terms
used in this Note, except terms otherwise defined herein, shall have the same meaning as in the Loan Agreement. This Note shall
be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of law provisions
(other than Sections&nbsp;5-1401 and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voluntary prepayments
may be made hereon, certain prepayments are required to be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided for in the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
waives demand, presentment, protest or notice of any kind hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Page to Follow]</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"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-variant: small-caps">In
Witness Whereof</FONT>, the Borrower has caused this Note to be duly executed and delivered on the date set forth above by the
duly authorized representative of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: small-caps 10pt Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;E</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-variant: small-caps"><B>___________________________________________________</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-variant: small-caps"><B>Compliance
Certificate</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: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&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">To:</TD><TD STYLE="text-align: justify; padding-right: 3.25in">Alcentra Capital Corporation, as Agent under, and the Lenders party to,
the Loan Agreement described below</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; text-align: justify; text-indent: 0.5in">Reference is made to
the Loan Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT>,
a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach Holdings
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders
party thereto, and Alcentra Capital Corporation, a Maryland corporation, as Agent (as amended, restated, modified or supplemented
from time to time, the <I>&ldquo;Loan Agreement&rdquo;</I>). Capitalized terms used herein and not defined herein have the meanings
assigned to them in the Loan Agreement. This Compliance Certificate is furnished to the Agent and the Lenders pursuant to the Loan
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">The
Undersigned, solely in the capacity set forth in paragraph 1 below and not in any individual capacity, hereby certifies that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;I am the duly elected/appointed
____________ of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&#9;I have reviewed the terms of
the Loan Agreement and I have made, or have caused to be made under my supervision, a detailed review of the transactions and conditions
of the Parent and its Subsidiaries during the accounting period covered by the attached financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&#9;No Default or Event of Default
has occurred and is continuing during or at the end of the accounting period covered by the attached financial statements or as
of the date of this Compliance Certificate, except as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&#9;The financial statements required
by Section&nbsp;6.1 of the Loan Agreement and being furnished to you concurrently with this Compliance Certificate fairly and adequately
present in all material respects the financial condition of the Borrower and its Subsidiaries as of [________], and the results
of their operations and cash flows for the [quarter/year] ended, in conformity with GAAP applied on a consistent basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;The representations and warranties
contained in Section&nbsp;5 of the Loan Agreement are true and correct (or, in the case of any representation or warranty not qualified
as to materiality, true and correct in all material respects) as though made on and as of such date (except to the extent such
representations and warranties relate to an earlier date, in which case they are true and correct (or, in the case of any representation
or warranty not qualified as to materiality, true and correct in all material respects) as of such earlier date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&#9;Schedule&nbsp;I hereto sets forth
financial data and computations evidencing the Loan Parties&rsquo; compliance with certain covenants of the Loan Agreement, all
of which data and computations are, to the best of my knowledge, true, complete and correct and have been made in accordance with
the relevant Sections of the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&#9;Schedule&nbsp;II hereto sets
forth a comparison of current financials against the budget for such period required to be submitted pursuant to Section&nbsp;6.1(d)
of the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&#9;Described below
are the exceptions, if any, to paragraph&nbsp;3 above by listing, in detail, the nature of the condition or event, the period during
which it has existed and the action which the Borrower has taken, is taking, or proposes to take with respect to each such condition
or event:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-top: 0; padding-right: 0; padding-left: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&#9;Schedule&nbsp;III hereto sets
forth any update to Schedule 5.9, as required pursuant to Section 5.9 of the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of a conflict
between the attached Schedule&nbsp;I and any certifications relating thereto and the Loan Agreement and related definitions used
in calculating such covenants, the Loan Agreement and such related definitions shall govern and control. The foregoing certifications,
together with the computations set forth in Schedule&nbsp;I hereto and the financial statements attached as Schedule II hereto
in support hereof, are made and delivered as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Compliance Certificate]</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Schedule&nbsp;I</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-variant: small-caps"><B>to
Compliance Certificate</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-variant: small-caps"><B>Limbach
Facility Services LLC</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-variant: small-caps"><B>Compliance
Calculations</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-variant: small-caps"><B>for
Loan Agreement dated as of July 20, 2016</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; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Calculations
as of _____________, </FONT>20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<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="padding-right: 0; padding-left: 0; text-align: center; padding-top: 7pt; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 4pt; padding-left: 4pt; text-align: center; padding-top: 7pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 0; text-align: center; text-indent: 0; padding-top: 7pt; width: 70%">&nbsp;</TD>
    <TD STYLE="padding-right: 4pt; padding-left: 4pt; text-align: center; padding-top: 7pt; width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0; padding-top: 7pt">A.&#9;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0; padding-left: 0; text-indent: 0; padding-top: 7pt"><U>Total Leverage Ratio (Section&nbsp;6.20(a))</U></TD>
    <TD STYLE="padding-right: 4pt; padding-left: 4pt; text-align: center; padding-top: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">1.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Total Funded Debt<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">2.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Net Income for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">3.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Interest Expense for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">4.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Federal, state and local income taxes for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">5.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Depreciation and amortization expense for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">6.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Transaction expenses incurred in connection with Permitted Acquisitions, whether or not consummated (not to exceed $50,000 in
the aggregate) for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">7.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Fees and expenses paid in cash for past 4 quarters in connection with the Loan Agreement and the Related Transactions to the extent
paid on or before that date occurring six months after the Closing Date in an aggregate amount not to exceed $2,500,000</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">8. &#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Losses or other charges related to Legacy Claims for past 4 quarters in an amount not to exceed $500,000 during such 4 quarters
(and in an aggregate amount not to exceed $2,500,000 during the term of the Loan Agreement)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">9.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Sum of Lines A2, A3, A4, A5, A6, A7 and A8 (<I>&ldquo;EBITDA&rdquo;</I>)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">10.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Ratio of Line A1 to Line A9 (<I>&ldquo;Total Leverage Ratio&rdquo;</I>)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">____:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">11.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Total Leverage Ratio (from Line A10) must not exceed</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">3.75:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">12.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">The Borrower and its Subsidiaries are in compliance (circle yes or no)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">yes/no</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: justify">Total Funded Debt does not include obligations in respect
of Bonding Agreements.</TD>
</TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 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="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">C. &#9;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0"><U>Fixed Charge Coverage Ratio (Section&nbsp;6.20(c))</U></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0; width: 5%">1.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt; width: 70%">EBITDA (from Line A9)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center; width: 20%">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">2.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Capital Expenditures not financed with Indebtedness for past 4&nbsp;quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">3.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Line C1 <I>minus</I> Line C2</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">4.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Principal Payments for past 4&nbsp;quarters<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">5.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Cash portion of Interest Expense for past
    4 quarters<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">6.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Restricted Payments (including without duplication Tax Distributions) for past 4 quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">7.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Federal, state and local income taxes paid in cash for past 4&nbsp;quarters</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">8.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Sum of Lines C4, C5, C6 and C7 (<I>&ldquo;Fixed Charges&rdquo;</I>)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">$___________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">9.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Ratio of Line C3 to Line C8 (<I>&ldquo;Fixed Charge Coverage Ratio&rdquo;</I>)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">____:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">10.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">Fixed Charge Coverage Ratio (from Line C9) must not be less than</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">1.00:1.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 0">11.&#9;</TD>
    <TD STYLE="padding-top: 7pt; padding-left: 0; text-indent: 0; padding-right: 2pt">The Borrower and its Subsidiaries are in compliance (circle yes or no)</TD>
    <TD STYLE="padding-top: 7pt; padding-right: 4pt; padding-left: 4pt; text-align: center">yes/no</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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: baseline"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>2</SUP></FONT></TD><TD STYLE="text-align: justify">For purposes of calculating Fixed Charges for any period
prior to the quarter ending September 30, 2017, scheduled payments of principal shall be deemed for all periods included in such
calculation to be an aggregate of $3,000,000.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>3</SUP></FONT></TD><TD STYLE="text-align: justify">For purposes of calculating Fixed Charges for any period
prior to the quarter ending September 30, 2017, the cash portion of any Interest Expense for such period shall mean (A) for the
fiscal quarter ending September 30, 2016, the actual cash Interest Expense for such quarter multiplied by 4, (B) for the fiscal
quarter ending December 31, 2016, the actual cash Interest Expenses for the fiscal quarters ending September 30, 2016 and December
31, 2016 multiplied by 2, and (C) for the fiscal quarter ending March 31, 2017, the actual cash Interest Expenses for the fiscal
quarters ending September 30, 2016, December 31, 2016 and March 31, 2017 multiplied by 4/3.</TD>
</TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<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="padding-top: 7pt; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">D.&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Minimum Tangible Net Worth (Section&nbsp;6.20(d))</U></FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; width: 5%; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; width: 5%; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.&#9;</FONT></TD>
    <TD STYLE="width: 70%; padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capital stock (less treasury stock), paid-in capital surplus and retained earnings (deficit) of the Borrower and any of its Subsidiaries (excluding inter-company items and all amounts properly attributable to minority interests, if any, in the stock and surplus of any such Subsidiary)</FONT></TD>
    <TD STYLE="width: 20%; padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.&#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred charges (less amortization, unamortized debt discount and expenses and corporate organization expenses)</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.&#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Book amount of all assets which would be treated as intangibles under GAAP, including, without limitation, such items as goodwill, trademark applications, trade names, service marks, brand names, copyrights, patents, patent applications and licenses, and rights with respect to the foregoing</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.&#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amount by which aggregate inventories or aggregate securities appearing on the asset side of such consolidated balance sheet exceed the lower of cost or market value (at the date of such balance sheet)</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.&#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any write-up in the book amount of any asset resulting from a revaluation thereof from the book amount entered upon acquisition of such asset</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6. &#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sum of Lines D2, D3, D4 and D5</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7. &#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Line D1 minus Line D6</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$___________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8. &#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Line D7 must not be less than</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$15,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9.&#9;</FONT></TD>
    <TD STYLE="padding-top: 7pt; text-align: justify; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Borrower and its Subsidiaries are in compliance (circle yes or no)</FONT></TD>
    <TD STYLE="padding-top: 7pt; padding-right: 0; padding-left: 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">yes/no</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"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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-variant: small-caps"><B>Schedule&nbsp;II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Compliance Certificate</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limbach
Facility Services LLC</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Financial
Statements</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>for
Loan Agreement dated as of July 20, 2016</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-variant: small-caps"><B>&nbsp;</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-variant: small-caps"><B>&nbsp;</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-variant: small-caps"><B>&nbsp;</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">[See attached.]</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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-variant: small-caps"><B>Schedule&nbsp;III</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>to
Compliance Certificate</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-variant: small-caps"><B>Limbach
Facility Services LLC</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-variant: small-caps"><B>&nbsp;</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-variant: small-caps"><B></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-variant: small-caps"><B>Schedule
5.9 to Loan Agreement</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-variant: small-caps"><B>&nbsp;</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-variant: small-caps"><B>&nbsp;</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-variant: small-caps"><B>&nbsp;</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">[See attached.]</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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-variant: small-caps"><B>Exhibit&nbsp;F</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-variant: small-caps"><B>Assignment
and Assumption</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: justify; text-indent: 0.5in">This Assignment and
Assumption (this <I>&ldquo;Assignment and Assumption&rdquo;</I>) is dated as of the Effective Date set forth below and is entered
into by and between <B>[Insert Name of Assignor]</B> (the <I>&ldquo;Assignor&rdquo;</I>) and <B>[Insert Name of Assignee]</B> (the
<I>&ldquo;Assignee&rdquo;</I>). Capitalized terms used but not defined herein shall have the meanings given to them in the Loan
Agreement identified below (as amended, the <I>&ldquo;Loan Agreement&rdquo;</I>), receipt of a copy of which is hereby acknowledged
by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein
by reference and made a part of this Assignment and Assumption as if set forth herein in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Loan Agreement, as of the Effective Date
inserted by the Agent as contemplated below (i)&nbsp;all of the Assignor&rsquo;s rights and obligations in its capacity as a Lender
under the Loan Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount
and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the Loans and
(ii)&nbsp;to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right
of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with
the Loan Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein
collectively as, the <I>&ldquo;Assigned Interest&rdquo;</I>). Such sale and assignment is without recourse to the Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<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: 0.5in; padding: 0; font-size: 10pt; text-align: justify">1.</TD>
    <TD STYLE="width: 1in; padding: 0; font-size: 10pt; text-align: justify"><I>Assignor:</I>&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></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: 0.5in; padding: 0; font-size: 10pt; text-align: justify">2.</TD>
    <TD STYLE="width: 1in; padding: 0; font-size: 10pt; text-align: justify"><I>Assignee:</I></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>[and
    is an Affiliate/Approved Fund of [<I>identify Lender</I>]<FONT STYLE="font-size: 10pt"><SUP>4]</SUP></FONT></B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></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">3.</TD><TD STYLE="text-align: justify"><I>Borrower:</I> Limbach Facility Services LLC, a Delaware limited liability company</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" STYLE="width: 100%; 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">4.</TD><TD STYLE="text-align: justify"><I>Agent:</I> Alcentra Capital Corporation, a Maryland corporation, as Agent under the Loan Agreement</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">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>4</SUP></FONT></TD><TD STYLE="text-align: justify">Select as applicable.</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">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">&nbsp;</P>

<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">5.</TD><TD STYLE="text-align: justify"><I>Loan Agreement:</I> The Loan Agreement dated as of July 20, 2016, by and among the Borrower,
Limbach Holdings LLC (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders party thereto, and Alcentra
Capital Corporation, as Agent</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">6.</TD><TD STYLE="text-align: justify"><I>Assigned Interest:</I></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 2in; text-indent: -2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -2in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; border: black 1pt solid; padding-top: 0; text-align: center; padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Aggregate Amount of <BR>
Loans for all Lender</I></FONT></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 0; text-align: center; padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Amount
    of Loans </I></FONT><BR>
    <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Assigned<SUP>5</SUP></I></FONT></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 0; text-align: center; padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Percentage
    Assigned of </I></FONT><BR>
    <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Loans<SUP>6</SUP></I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 0; padding-left: 0; text-align: left; padding-top: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 0; padding-left: 0; text-align: left; padding-top: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 0; padding-left: 0; text-align: left; padding-top: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;%</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>[7.</B></TD><TD STYLE="text-align: justify"><B>Trade
                                         Date: _____________________________________________&#9;]</B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>7</SUP></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Page Break]</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">&nbsp;</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: left"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: baseline">5</FONT></TD><TD STYLE="text-align: justify">Amount to be adjusted by the counterparties to take into
account any payments or prepayments made between the Trade Date and the Effective 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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">6</FONT></TD><TD STYLE="text-align: justify">Set forth, to at least 9 decimals, as a percentage of
the Commitment/Loans of all Lenders thereunder.</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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">7</FONT></TD><TD STYLE="text-align: justify">To be completed if the Assignor and the Assignee intend
that the minimum assignment amount is to be determined as of the Trade Date.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<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">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective Date: _____________ ___, 20___
<B>[To be inserted by Agent and which shall be the effective date of recordation of transfer in the register therefor.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The terms set forth
in this Assignment and Assumption are hereby agreed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Assignor</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps"><B>[Name of Assignor]</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Assignee</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps"><B>[Name of Assignee]</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Assignment and Assumption]</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 9pt; text-indent: -9pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD COLSPAN="3">Consented to and Accepted:</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Alcentra Capital Corporation</FONT>,<BR>
as&nbsp;Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD COLSPAN="3"><B>[Consented to:]</B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>8</SUP></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3"><B>[<FONT STYLE="font-variant: small-caps">Name of Relevant Party</FONT>]</B></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>8</SUP></FONT></TD><TD STYLE="text-align: justify">To be added only if the consent of the Borrower and/or
other parties is required by the terms of the Credit Agreement.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Assignment and Assumption]</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5in 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Annex 1</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT>Standard Terms and Conditions for<BR>
Assignment and Assumption</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;1.&#9;Representations
and Warranties.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;<I>Section&nbsp;1.1.</I>&#9;<I>Assignor.</I>
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned
Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby;
and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with
the Loan Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Parent, the Borrower or any of
their Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance
by the Parent, the Borrower or any of their Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;<I>Section&nbsp;1.2.&#9;Assignee.</I>
The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute
and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under
the Loan Agreement, (ii) it meets all the requirements to be an assignee under the definition of &ldquo;Eligible Assignee&rdquo;
of the Loan Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Loan Agreement as a
Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated
with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising
discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has
received a copy of the Loan Agreement, and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 6.1 thereof, as applicable, and such other documents and information as it deems
appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned
Interest, (vi) it has, independently and without reliance upon the Agent or any other Lender and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
the Assigned Interest, and (vii) if it is not a United States person (as such term is defined in Section 7701(a)(30) of the Code)
attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Loan
Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on
the Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it
as a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;2.&#9;Payments.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From and after the
Effective Date, the Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest,
fees and other amounts) to the Assignee whether such amounts have accrued prior to, on or after the Effective Date. The Assignor
and the Assignee shall make all appropriate adjustments in payments by the Agent for periods prior to the Effective Date or with
respect to the making of this assignment directly between themselves. Notwithstanding the foregoing, the Agent shall make all payments
of interest, fees or other amounts paid or payable in kind from and after the Effective Date to the Assignee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;3.&#9;General
Provisions.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Assignment and
Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.
This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery
of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of
a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed
in accordance with, the law of the State of New York, without regard to conflicts of law provisions (other than Sections&nbsp;5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exhibit&nbsp;G</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-variant: small-caps"><B>Additional
Guarantor Supplement</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: right">Date:&nbsp;&nbsp;__________, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&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; padding-right: 0"></TD><TD STYLE="width: 0.5in; padding-right: 0">To:</TD><TD STYLE="text-align: justify; padding-right: 0">Alcentra Capital Corporation, as Agent under, and the Lenders party to,
the Loan Agreement described below</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; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Loan Agreement, dated as of July 20, 2016, by and among <FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT>,
a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), <FONT STYLE="font-variant: small-caps">Limbach Holdings
LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders
party thereto, and Alcentra Capital Corporation, a Maryland corporation, as Agent (as amended, restated, modified or supplemented
from time to time, the <I>&ldquo;Loan Agreement&rdquo;</I>). Capitalized terms used herein and not defined herein have the meanings
assigned to them in the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, <B>[Insert
Name of Guarantor]</B>, a(n) ________ ___________, hereby elects to be a <I>&ldquo;Guarantor&rdquo;</I> for all purposes of the
Loan Agreement, effective from the date hereof. The undersigned confirms that the representations and warranties set forth in Section&nbsp;5
of the Loan Agreement are true and correct (or in the case of any representation or warranty not qualified as to materiality, true
and correct in all material respects) as to the undersigned to the extent applicable to it as of the date hereof (unless such representations
and warranties related to an earlier specified date, in which case they are true and correct (or in the case of any representation
or warranty not qualified as to materiality, true and correct in all material respects) as of such earlier date) and the undersigned
shall comply with each of the covenants set forth in Section&nbsp;6 of the Loan Agreement applicable to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Without limiting the
generality of the foregoing, the undersigned hereby agrees to perform all the obligations of a Guarantor under, and to be bound
in all respects by the terms of, the Loan Agreement, including without limitation Section&nbsp;11 thereof, to the same extent and
with the same force and effect as if the undersigned were a signatory party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned acknowledges
that this Additional Guarantor Supplement shall be effective upon its execution and delivery by the undersigned to the Agent, and
it shall not be necessary for the Agent or any Lender, or any of their Affiliates entitled to the benefits hereof, to execute this
Additional Guarantor Supplement or any other acceptance hereof. This Additional Guarantor Supplement shall be construed in accordance
with and governed by the laws of the State of New York, without regard to conflicts of law provisions (other than Sections 5-1401
and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">Very truly yours,</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps"><B>[Insert Name of Guarantor]</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD COLSPAN="3">Acknowledged and Agreed</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps">Alcentra Capital Corporation</FONT>, as Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 1</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>&nbsp;</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>Loans</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">&nbsp;</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"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></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: bottom">
    <TD STYLE="width: 36%; padding: 0"><FONT STYLE="font-variant: small-caps">Name and Payment Address of Lender</FONT></TD>
    <TD STYLE="width: 32%; padding: 0; text-align: center"><FONT STYLE="font-variant: small-caps">Loan</FONT></TD>
    <TD STYLE="width: 32%; padding: 0; text-align: center"><FONT STYLE="font-variant: small-caps">Closing Fee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alcentra Capital Corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Park Avenue, 7th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10166</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding: 0; text-align: center">$13,000,000</TD>
    <TD STYLE="padding: 0; text-align: center">$260,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Total:</B></FONT></TD>
    <TD STYLE="padding: 0; text-align: center">$13,000,000.00</TD>
    <TD STYLE="padding: 0; text-align: center">$260,000</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule&nbsp;1-A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Capital Leases</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"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Lease Agreement (#100171), dated as of May 1, 2009, by and between Bud Behling Leasing, Inc., dba
BBL Fleet and Limbach Facility Services LLC.</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: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Agreement (No. 1138814), dated as of March 27, 2014, by and between GreatAmerica Financial Services
Corporation and Limbach Company LLC.</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; text-align: center"><FONT STYLE="font-variant: small-caps"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->

<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-variant: small-caps"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule&nbsp;1-B</B>&nbsp;</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>June 2016 EBITDA Calculations</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">&nbsp;&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: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Management Fees in an amount not to exceed $668,000.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 2.4(b)</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>&nbsp;</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>Conversion Calculation</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>&nbsp;</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>FOR ILLUSTRATIVE PURPOSES ONLY</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<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: 5%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD>
    <TD STYLE="width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred Interest Principal being Converted:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 38%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$2,000,000.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Conversion Price:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Five (5) day weighted trading average of
        a share of Limbach Stock for the five Business Days preceding the Conversion Date:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;$25.00</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Conversion Shares (A./B.):</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">200,000 = $2,000,000.00/$10.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">E.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liquidation Shares (A./C.):</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">80,000 = $2,000,000.00/$25.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares to be delivered to Lenders (D. - E.):</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">120,000 = 200,000 &ndash; 80,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">G.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Value of shares to be delivered to Lenders (F. x C.):</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.4pt 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">$3,000,000.00 = 120,000 x $25.00</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">H.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash to be paid to Lenders (A.):</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">$2,000,000.00</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">I.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Value of shares and cash to be delivered to Lenders</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(G +A.):</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <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">$5,000,000.00</P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 5.5</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>Litigation and Other Controversies</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"></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">1.</TD><TD STYLE="text-align: justify"><U>Pennsylvania Department of General Services Project (SCI Fayette)</U>: This lawsuit was filed
by the Commonwealth of Pennsylvania (the &ldquo;<U>Commonwealth</U>&rdquo;) against Limbach Facility Services LLC (&ldquo;<U>LFS</U>&rdquo;)
for a construction project completed in the fall of 2002. LFS contracted with the Pennsylvania Department of General Services (&ldquo;<U>DGS</U>&rdquo;)
in 2001, to perform mechanical construction work at the State Correctional Institution in Fayette County, PA. In 2007, DGS discovered
leaks in the underground thermal pipe system supplied by LFS&rsquo; subcontractor, Thermacor Process LP (&ldquo;<U>Thermacor</U>&rdquo;);
however, LFS believes that it is not responsible for the leaks. DGS did not pursue the matter further until it filed and served
a complaint against LFS in September 2012, seeking in excess of $8,000,000 in damages. In late December 2012, LFS filed an answer
to the complaint and joined Thermacor, Allegheny Group (Thermacor&rsquo;s distributor) and the project engineer of record, L. Robert
Kimball and Associates, as defendants. Significant discovery has occurred during the ensuing three years. LFS submitted defense
of the suit to Arch Insurance and Travelers Insurance, and coverage was accepted under a reservation of rights by Travelers Insurance.
Trial is not anticipated until 2017, and the parties hope to submit to mediation in the fall of 2016.</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">2.</TD><TD STYLE="text-align: justify"><U>Wilshire Vermont Apartments Project</U>: This matter relates to LFS&rsquo; work as a subcontractor
to Taisei Construction for the Wilshire Vermont apartments project in 2004. On April 18, 2013, LFS was sued by the project owner
(the &ldquo;<U>Owner</U>&rdquo;) for alleged construction defects as part of a larger claim against the general contractor, the
design team and almost all subcontractors. LFS submitted defense of the suit to Arch Insurance and coverage was accepted under
a reservation of rights. The Owner alleges three defects in LFS&rsquo; work, seeking damages of approximately $900,000, with the
total suit claiming damages in of the approximate amount of $70,000,000. LFS has asserted defenses to each item, including that
liability may rest with a subcontractor or supplier that LFS has brought into the case. LFS&rsquo; expert also believes the total
value of the three items claimed by the Owner to be far less than claimed. All parties participated in mediation over three days,
commencing on July 27, 2015; however, no settlement was reached. LFS is working with the mediator to set up a meeting between the
Owner and LFS&rsquo; experts aimed at narrowing the issues and agreeing on the costs of repair, in hopes of allowing a settlement
to be reached when mediation resumes in 2016.</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; text-align: justify"><B><U>Legacy Claims</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the Loan Agreement, the
claims described in items #1 and #2 above are &ldquo;Legacy Claims&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule 5.9</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ERISA</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<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: 0.25in">1.</TD><TD STYLE="text-align: justify"><U>Central States Pension Fund Matter</U>: In September 2014, Central States Pension Fund (&ldquo;<U>CSPF</U>&rdquo;)
issued to LFS a demand for payment of withdrawal liability stemming from allegations that LFS had completely withdrawn from CSPF
by virtue of ceasing to employ teamsters in the Company&rsquo;s Michigan branch (the &ldquo;<U>Central States Pension Fund Matter</U>&rdquo;).
CSPF assessed the amount of withdrawal liability to be $613,485. LFS disputed the amount of the assessment and filed arbitration
against CSPF on May 14, 2015. A settlement was reached in December 2015, and the parties entered into that certain Settlement Agreement
and Release, dated March 31, 2016, between Central States, Southeast and Southwest Areas Pension Fund and Limbach Company LLC.</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; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 0.25in">1.</TD><TD STYLE="text-align: justify">Sheet Metal Workers Local 98 Pension Fund</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: 0.25in">2.</TD><TD STYLE="text-align: justify">Sheet Metal Workers' Pension Plan of Southern California, Arizona and Nevada</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: 0.25in">3.</TD><TD STYLE="text-align: justify">Heating, Piping and Refrigeration Pension Fund</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: 0.25in">4.</TD><TD STYLE="text-align: justify">Sheet Metal Workers' Local Union No. 80 Pension Fund</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: 0.25in">5.</TD><TD STYLE="text-align: justify">Steamfitters Local Union No. 420 Pension Plan</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: 0.25in">6.</TD><TD STYLE="text-align: justify">Plumbers and Pipefitters Local Union No. 333 Pension Plan</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: 0.25in">7.</TD><TD STYLE="text-align: justify">Pipefitters Local No. 636 Defined Benefit Pension Fund</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: 0.25in">8.</TD><TD STYLE="text-align: justify">Sheet Metal Workers&rsquo; National Pension Fund</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: 0.25in">9.</TD><TD STYLE="text-align: justify">Plumbers and Pipefitters National Pension Fund</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: 0.25in">10.</TD><TD STYLE="text-align: justify">Plumbers Local No. 98 Defined Benefit Pension Fund</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: 0.25in">11.</TD><TD STYLE="text-align: justify">Plumbers &amp; Steamfitters Local No. 577 Pension Plan</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: 0.25in">12.</TD><TD STYLE="text-align: justify">Flint Area Sheet Metal Workers Local Union No. 7, Zone 4 Pension Fund</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; text-align: justify">(c)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">A &ldquo;Statement of Business Affairs&rdquo; was requested from LFS in connection with the Central
States Pension Fund Matter.</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; text-align: justify">(e)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 5.10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Subsidiaries</B>&nbsp;</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"><B><U>List of Subsidiaries of each Loan Party:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Limbach Facility Services LLC is a wholly-owned Subsidiary of Limbach Holdings LLC.</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: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Harper Limbach Construction LLC, Harper Limbach LLC and Limbach Company LLC are wholly-owned Subsidiaries
of Limbach Facility Services LLC.</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: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Limbach Company LP is 99%-owned by Limbach Facility Services LLC and 1%-owned by Limbach Company
LLC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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; background-color: #D9D9D9">
    <TD STYLE="width: 26%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Subsidiary</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Jurisdiction of <BR>
Organization</B></FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Holder(s)</B></FONT></TD>
    <TD STYLE="width: 29%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Percentage of <BR>
Subsidiary&rsquo;s Equity <BR>
Interests Held</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Holdings LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 Units (100% membership interest)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Harper Limbach Construction LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 Units (100% membership interest)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Harper Limbach LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 Units (100% membership interest)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LP</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">99% partnership interest</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1% partnership interest</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Company LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 Units (100% membership interest)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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>Schedule 5.16</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>&nbsp;</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>Labor Relations</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">None</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">None.</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify"><B><U>Collective Bargaining Agreements</U>:</B></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"></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">1.</TD><TD STYLE="text-align: justify">Agreement, dated July 1, 2010, between SMACNA of Western Pennsylvania Sheet Metal, Roofing, Ventilation
and Air Conditioning Contracting Divisions of the Construction Industry and Sheet Metal Workers Local 12.</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">2.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2012, between The Sheet Metal Workers of Central Ohio and Sheet Metal
Workers Local Union No. 24.</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">3.</TD><TD STYLE="text-align: justify">Construction Agreement, dated June 1, 2009, between SMACNA Metropolitan Detroit Chapter and Sheet
Metal Workers&rsquo; International Association Local Union No. 80.</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">4.</TD><TD STYLE="text-align: justify">Collective Bargaining Agreement, dated January 1, 2011, between Sheet Metal Air Conditioning Contractors&rsquo;
National Association (SMACNA Los Angeles and Orange Empire SMACNA) and Sheet Metal Workers&rsquo; International Association Local
Union 105.</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">5.</TD><TD STYLE="text-align: justify">Construction Agreement, dated June 1, 2013, between SMACNA Metropolitan Detroit Chapter and Sheet
Metal Air Rail Transportation International Association (SMART) Local Union No. 80.</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">6.</TD><TD STYLE="text-align: justify">Agreement, dated June 2, 2014, between Mechanical Contractors Association of Detroit, Inc. and
Journeymen Plumbers Local No. 98 of Detroit, Michigan.</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">7.</TD><TD STYLE="text-align: justify">Joint Agreement, dated September 1, 2013, between New England Mechanical Contractors Association
Incorporation and Local Union 537 of The United Association of Pipefitters and Apprentices of Boston and Vicinity of The Plumbing
and Pipe Fitting Industry in the United States, Canada and Australia &ndash; AFL-CIO.</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">8.</TD><TD STYLE="text-align: justify">Joint Agreement, dated September 1, 2013, between NEMCA/Air-Conditioning and Refrigeration Contractors
of BOSTON, Inc. and Local Union 537 of The United Association of Pipefitters and Apprentices of Boston and Vicinity of The Plumbing
and Pipe Fitting Industry in the United States, Canada and Australia &ndash; AFLI-CIO.</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">9.</TD><TD STYLE="text-align: justify">Agreement, dated September 1, 2014, between Mechanical Contractors Association of Metropolitan
Washington, DC and Baltimore/Washington Construction &amp; Public Employees Laborers&rsquo; District Council, LIUNA, Local 657
and Local 11.</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>

<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">10.</TD><TD STYLE="text-align: justify">Inside Wireman Agreement, dated June 1, 2015, between Washington, D.C. Chapter National Electrical
Contractors Association and Local Union No. 26, International Brotherhood of Electrical Workers.</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">11.</TD><TD STYLE="text-align: justify">Residential Agreement, dated June 1, 2015, by Washington, D.C. Chapter National Electrical Contractors
Association and Local Union No. 26, International Brotherhood of Electrical Workers.</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">12.</TD><TD STYLE="text-align: justify">Service Master Labor Agreement, dated September 1, 2015, between The Airconditioning, Refrigeration
and Mechanical Contractors Association of Southern California (ARCA/MCA) and The Southern California Pipe Trades District Council
16 (DC 16).</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">13.</TD><TD STYLE="text-align: justify">Joint Agreement, dated June 1, 2015, between The Mechanical Contractors Association of Southeastern
Ohio and The United Association of Journeyman &amp; Apprentices of the Plumbing and Pipefitting Industry Local No. 577.</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">14.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2014, between Local Union No. 24 I.B.E.W. and Baltimore Division, Maryland
Chapter, National Electrical Contractors Association, Inc.</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">15.</TD><TD STYLE="text-align: justify">Collective Bargaining Agreement, dated July 1, 2013, between Local Union No. 9 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of The United States and Canada, AFL-CIO and Mechanical
Contractors Association of New Jersey, Inc.</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">16.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2014, between South Jersey Mechanical Contractors Association, Inc. and
LOCAL 322 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States
and Canada, AFL-CIO.</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">17.</TD><TD STYLE="text-align: justify">Basic Construction Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</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">18.</TD><TD STYLE="text-align: justify">Supplemental Service Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</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">19.</TD><TD STYLE="text-align: justify">Speculative Agreement &ldquo;B&rdquo;, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</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">20.</TD><TD STYLE="text-align: justify">Core Drilling Agreement, dated August 1, 2014, between Mechanical Contractors Association of Metropolitan
Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe
Fitting Industry of the United States and Canada, AFL-CIO.</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>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">21.</TD><TD STYLE="text-align: justify">Ground Penetrating Radar Agreement, dated August 1, 2014, between Mechanical Contractors Association
of Metropolitan Washington, Inc. and Plumber Local Union No. 5 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the United States and Canada, AFL-CIO.</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">22.</TD><TD STYLE="text-align: justify">Building Construction Agreement, dated October 21, 2013, between the Mechanical Contractors Association
of Metropolitan Washington, Inc. and Local Union No. 602 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipefitting Industry of the United States and Canada (AFL-CIO).</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">23.</TD><TD STYLE="text-align: justify">Supplemental Service Agreement, dated October 21, 2013, between the Mechanical Contractors Association
of Metropolitan Washington, Inc. and Local Union No. 602 of the United Association of Journeymen and Apprentices of the Plumbing
and Pipefitting Industry of the United States and Canada (AFL-CIO).</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">24.</TD><TD STYLE="text-align: justify">Agreement, dated July 1, 2013, between Sheet Metal and Air Conditioning Contractors&rsquo; National
Association of Western Pennsylvania and Local Union No. 12 of International Association of Sheet Metal, Air, Rail and Transportation
Workers.</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">25.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between the Mechanical Contractors Association of Western Pennsylvania,
Inc. and Plumbers Local Union No. 27 of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry
of the United States and Canada.</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">26.</TD><TD STYLE="text-align: justify">Inside Agreement, dated July 1, 2015, between Western Maryland Division, Maryland Chapter, National
Electric Contractors Association and Local Union No. 307, IBEW.</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">27.</TD><TD STYLE="text-align: justify">Articles of Agreement, dated June 1, 2015, between Local Union No. 354 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada, AFL-CIO and Laurel Mechanical
Contractors Association, Inc. and Independent Contractors.</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">28.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2014, between Mechanical Contractors Association of Eastern Pennsylvania,
Inc. and Local Union No. 420 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry
of the United States and Canada.</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">29.</TD><TD STYLE="text-align: justify">Agreement, dated May 15, 2014, between Steamfitters Local Union No. 420 of the United Association
of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada and Servicing Contractors
Association of Greater Delaware Valley, Inc.</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">30.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between The Mechanical Contractors Association of Western Pennsylvania,
Inc. and The United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and
Canada, Local Union No. 449.</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>

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    <!-- Field: /Page -->

<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">31.</TD><TD STYLE="text-align: justify">Agreement, dated May 1, 2013, between Mechanical Contractors Association of Eastern Pennsylvania,
Inc. and Plumbers Local Union No. 690 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting
Industry of the United States and Canada Covering Philadelphia, Bucks, Chester, Delaware and Montgomery Counties.</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">32.</TD><TD STYLE="text-align: justify">National Service and Maintenance Agreement, dated August 1, 2015, between United Association of
Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada, AFL-CIO and Mechanical Service
Contractors of America.</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">33.</TD><TD STYLE="text-align: justify">Construction Labor Agreement, dated November 19, 2012, between Mechanical Contractors Association
of Detroit, Inc. and Pipefitters, Steamfitters, Refrigeration, and Air Conditioning Service Local Union No. 636 of Metropolitan
Detroit Area, Michigan.</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">34.</TD><TD STYLE="text-align: justify">Master Agreement for the Plumbing and Piping Industry of Southern California, dated July 1, 2014,
between California Plumbing and Mechanical Contractors Association and Southern California Pipe Trades District Council No. 16
of the United Association.</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">35.</TD><TD STYLE="text-align: justify">Participation Agreement, dated November 11, 2015, between Limbach Co LLC and United Association
of Plumbers &amp; Pipefitters Local Union #162.</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">36.</TD><TD STYLE="text-align: justify">Agreement, dated June 1, 2015, between Sheet Metal Contractors Association of Central Ohio and
Local Union #24 of International Association of Sheet Metal, Air, Rail and Transportation Workers.</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">37.</TD><TD STYLE="text-align: justify">Master Agreement, dated May 1, 2013, between Mechanical Contractors Association of Maryland, Inc.
and Plumbers and Steamfitters U.A. Local 486 of Baltimore, Maryland.</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">38.</TD><TD STYLE="text-align: justify">Service &amp; Maintenance Agreement, dated May 1, 2013, between The Mechanical Contractors Association
of Maryland, Inc. and Plumbers &amp; Steamfitters U.A. Local 486 of Baltimore, Maryland.</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">39.</TD><TD STYLE="text-align: justify">Marketing Agreement, dated May 1, 2013, between The Mechanical Contractors Association of Maryland,
Inc. and Plumbers and Steamfitters U.A. Local 486 of Baltimore, Maryland.</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; text-align: center"></P>

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<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 5.25</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>&nbsp;</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>Material Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify"></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">Agreement of Limited Partnership of Limbach Company LP (f/k/a Western Air Limbach LP), dated December
13, 2002, as amended by that certain Amendment No. 1 to Agreement of Limited Partnership, dated July 13, 2007, and as further amended
by that certain Amendment No. 2 to Agreement of Limited Partnership, dated June 16, 2011.</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: 0.25in">2.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated August 2012, between Limbach Company LLC and Sauer Group, Inc.</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: 0.25in">3.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated September 17, 2010, among Limbach Company LLC, Coleman Spohn Corporation
and Sauer Group, Inc.</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: 0.25in">4.</TD><TD STYLE="text-align: justify">Operating Agreement of HMPC, A Joint Venture, dated September 17, 2010, between Limbach Company
LLC, Coleman Spohn Corporation and Sauer Group, Inc.</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: 0.25in">5.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 1, 2015, between Limbach Company LLC and Dunbar Mechanical
Inc.</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: 0.25in">6.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated November 3, 2014, between Limbach Company LLC and Gunthorpe Plumbing
&amp; Heating, Inc.</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: 0.25in">7.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated April 20, 2015, between Limbach Company LLC and Gunthrope Plumbing
&amp; Heating, Inc.</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: 0.25in">8.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 19, 2015, between Limbach Company LLC and Gunthrope Plumbing
&amp; Heating, Inc.</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: 0.25in">9.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated December 1, 2015, between Limbach Company LLC and Watson Bros. Service
Company Inc.</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: 0.25in">10.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated June 31, 2012, between Limbach Company LLC and Professional Mechanical
Sales and Services, Inc.</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: 0.25in">11.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated October 8, 2015, between Limbach Company LLC and Professional MSL
Mechanical Contractors, LLC.</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>

<!-- Field: Page; Sequence: 31 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 0.25in">12.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated February 16, 2012, between Limbach Company LLC and Professional
MSL Mechanical Contractors, LLC (Detroit Building Authority &ndash; Public Safety Headquarters Project).</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: 0.25in">13.</TD><TD STYLE="text-align: justify">Operating Agreement of MSL Limbach, dated October 7, 2011, between Limbach Company LLC and MSL
Mechanical Contractors, LLC.</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: 0.25in">14.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated February 16, 2012, between Limbach Company LLC and MSL Mechanical
Contractors, LLC (5 West/6 West Nursing Unit Renovations Project).</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: 0.25in">15.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated November 15, 2012, between Limbach Company LLC and MSL Mechanical
Contractors, LLC.</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: 0.25in">16.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated December 22, 2014, between Limbach Company LLC and MSL Mechanical
Contractors, LLC.</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: 0.25in">17.</TD><TD STYLE="text-align: justify">Planned Maintenance Service Agreement, dated September 23, 2014, between HMPC and The Ohio State
University Medical Center.</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: 0.25in">18.</TD><TD STYLE="text-align: justify">Joint Venture Agreement, dated undated, between Limbach Company LLC and Rieck Services.</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; text-align: justify">(d) &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Commercial Lease Agreement, dated September 9, 2011, between Harper Limbach LLC, as Tenant, and
Eagle Creek 5 &amp; 6, LLC, as Landlord, as amended by the Addendum, dated September 9, 2014, for the real property commonly known
as 9051 Florida Mining Boulevard, Suite 103/104, Tampa, Florida.</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" STYLE="width: 100%; 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: 0.25in">2.</TD><TD STYLE="text-align: justify">Commercial Lease Agreement, dated November 18, 2009, between Limbach Company LLC, as Tenant, and
Jackson-Shaw / Brickyard Limited Partnership, LP, as Landlord, for the real property commonly known as 13261 Mid-Atlantic Boulevard,
Laurel, Maryland (Building E).</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" STYLE="width: 100%; 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: 0.25in">3.</TD><TD STYLE="text-align: justify">Lease Agreement, dated May 20, 2010, between Limbach Company LLC, as Tenant, and LIT-CHRIS/RIDGE,
L.L.C., as Landlord, as amended by the First Amendment, dated June 1, 2013, and the Second Amendment, dated May 12, 2015, for the
real property commonly known as 5C Chris Court, South Brunswick, New Jersey.</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" STYLE="width: 100%; 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: 0.25in">4.</TD><TD STYLE="text-align: justify">General Indemnity Agreement, dated March 30, 2010, made by Harper Limbach LLC, Limbach Company
LP f/k/a Western Air Limbach LP, Limbach Facility Services LLC, Limbach Company LLC, collectively as Principal/Indemnitor, Limbach
Management Holding Company, LLC, Limbach Holdings LLC and F<I>d</I>G HVAC LLC, collectively as Indemnitor, in favor of Arch Insurance
Company, as Surety.</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>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">General Indemnity Agreement, dated March 11, 2016, made by MSL Limbach JV V, MSL Mechanical Contractors,
LLC and Limbach Company LLC, as Indemnitors, in favor of Arch Insurance Company, Arch Reinsurance Company and any future or present
subsidiary or affiliate of Arch Insurance Company, as Surety.</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" STYLE="width: 100%; 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: 0.25in">6.</TD><TD STYLE="text-align: justify">General Agreement of Indemnity, dated July 12, 2016, made by Harper Limbach LLC, Limbach Facility
Services LLC, Limbach Company LLC, Limbach Holdings LLC, Limbach Company LP, Harper Limbach Construction LLC, as Indemnitors, in
favor of Travelers Casualty and Surety Company of America.</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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(f)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">RCH Bed Tower Expansion &amp; Renovation, dated June 17,&nbsp;2014, between Skanska USA Building
Inc. and Limbach Company LP.</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: 0.25in">2.</TD><TD STYLE="text-align: justify">Detroit Entertainment &amp; Events Center, dated October 21, 2015, between Barton Malow/Hunt, a
Joint Venture, in Association with White Construction and MSL Limbach JV V.</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: 0.25in">3.</TD><TD STYLE="text-align: justify">Boston Medical Center &ndash; Menino Addition and Renovation, dated March 11, 2014, between Suffolk
Construction Co., Inc. and Limbach Company LLC.</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: 0.25in">4.</TD><TD STYLE="text-align: justify">Washington Metropolitan Area Transit Authority Rehabilitation of Rail Yard Facilities (Yard-1),
Dated September 18, 2013, between Potomac Construction Company, Inc. and Limbach Company LLC. &nbsp;</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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(h)</TD><TD STYLE="text-align: justify">None.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(i)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.25in">1.</TD><TD STYLE="text-align: justify">Agreement and Plan of Merger, dated March 23, 2016, by and among Limbach Holdings LLC, 1347 Capital
Corp. and F<I>d</I>G HVAC LLC, solely in its capacity as the Limbach Holders&rsquo; Representative.</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>

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<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; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 5.26</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Options and Warrants, Etc.</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"></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">1.</TD><TD STYLE="text-align: justify">4,600,000 warrants, each exercisable for one-half of one share common stock at an exercise price
of $5.75 per half share ($11.50 per whole share);</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">2.</TD><TD STYLE="text-align: justify">198,000 warrants, each exercisable for one-half of one share at an exercise price of $5.75 per
half share ($11.50 per whole share);</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">3.</TD><TD STYLE="text-align: justify">600,000 warrants, each exercisable for one share of common stock at an exercise price of $15.00
per shares;</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">4.</TD><TD STYLE="text-align: justify">1,000,000 warrants, each exercisable for one share of common stock at an exercise price of $11.50
per share;</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">5.</TD><TD STYLE="text-align: justify">666,667 warrants, each exercisable for one share of common stock at an exercise price of $12.50
per share; and</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">6.</TD><TD STYLE="text-align: justify">$10 million of convertible preferred stock.</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; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<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>&nbsp;</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>Schedule 6.30</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>&nbsp;</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>Post-Closing Matters</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>&nbsp;</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">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>9
<FILENAME>v444860_ex10-7.htm
<DESCRIPTION>SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF JULY 20, 2016, BY AND BETWEEN FIFTH THIRD BANK AND ALCENTRA CAPITAL CORPORATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.7</B></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Subordination and Intercreditor
Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">This
Subordination and Intercreditor Agreement </FONT>(as amended, restated, supplemented or otherwise modified in accordance with the
terms hereof, this <I>&ldquo;Subordination and Intercreditor Agreement&rdquo;</I>) dated as of July 20,&nbsp;2016, is by and between
<FONT STYLE="font-variant: small-caps">Fifth Third Bank</FONT>, an Ohio banking corporation, as administrative agent for the Senior
Lenders (as defined below) (in such capacity, <I>&ldquo;Senior Agent&rdquo;</I>) and <FONT STYLE="font-variant: small-caps">Alcentra
Capital Corporation</FONT>, a Maryland corporation, as administrative agent for the Subordinated Lenders (in such capacity, <I>&ldquo;Subordinate
Agent&rdquo;</I>).</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Recitals:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
Senior Agent, acting on behalf of certain financial institutions and letter of credit issuers (collectively, the <I>&ldquo;Senior
Lenders&rdquo;</I>), and such Senior Lenders are, contemporaneously herewith, entering into financing arrangements with the Borrower
(as defined below) and certain other Obligors (as defined below) party thereto, pursuant to which Senior Lenders may, upon certain
terms and conditions, make certain revolving credit loans and a term loan and provide other financial accommodations to Borrower
secured by a first priority security interest in the Collateral (as defined below);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
pursuant to the Subordinated Credit Agreement (as defined below), Subordinate Agent, acting on behalf of itself and the Subordinated
Lenders (as defined below), and such Subordinated Lenders are, contemporaneously herewith entering into an unsecured financing
arrangement with Borrower pursuant to the terms of the Subordinated Credit Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
Senior Creditors and Subordinated Creditors desire that Senior Agent and Subordinate Agent enter into this Subordination and Intercreditor
Agreement to (a)&nbsp;provide for the subordination of the Subordinated Indebtedness (as hereinafter defined) to the Senior Facility
Debt (as hereinafter defined) and certain terms related thereto and (b)&nbsp;acknowledge that the Subordinated Indebtedness is
unsecured and that the Senior Creditors have first lien priority security interests in the assets and properties of the Obligors
(as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now,
Therefore</FONT>, in consideration of the mutual benefits accruing to Senior Creditors and Subordinated Creditors hereunder, and
for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby
agree as follows:</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used above and in
this Subordination and Intercreditor Agreement, the following terms shall have the meanings ascribed to them below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Affiliate&rdquo;
</I>means any Person directly or indirectly controlling (including all stockholders, members, directors, partners, managers, and
officers of such Person) or controlled by, or under direct or indirect common control with, another Person. A Person shall be deemed
to control another Person for the purposes of this definition if such Person possesses, directly or indirectly, the power to direct,
or cause the direction of, the management and policies of the other Person, whether through the ownership of voting securities,
common directors, managers, trustees or officers, by contract or otherwise; provided that, in any event for purposes of this definition,
any Person that owns, directly or indirectly, 10% or more of the securities having the ordinary voting power for the election of
directors, managers or governing body of a corporation or 10% or more of the partnership or other ownership interest of any other
Person (other than as a limited partner of such other Person) will be deemed to control such corporation or other Person. Unless
expressly stated otherwise herein, no Senior Lender or Subordinated Lender shall be deemed an Affiliate of any Obligor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Agreements&rdquo;
</I>shall mean, collectively, the Senior Facility Loan Documents and the Subordinated Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;AHYDO Catch-Up
Payment&rdquo; </I>shall mean the payment the Borrower is required to make pursuant to Section 2.4(d) of the Subordinated Credit
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrower&rdquo;
</I>shall mean <FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC, </FONT>a Delaware limited liability company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Borrowing
Base Availability&rdquo;</I> shall have the meaning assigned to such term in the Senior Facility Loan Agreement as in effect as
of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Collateral&rdquo;
</I>shall mean all assets and properties of any kind whatsoever (including proceeds thereof), real or personal, tangible or intangible
and wherever located, of each Obligor, and shall include, without limitation, all ownership interests of Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Default Notice&rdquo;
</I>shall mean and include a Payment Default Notice and/or a Non-Payment Default Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Distribution&rdquo;
</I>shall mean any payment in cash, property or securities by or on behalf of an Obligor, but shall exclude payments in kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Guarantor&rdquo;
</I>shall mean, if and when applicable, any guarantor of the Senior Facility Debt or the Subordinated Indebtedness from time to
time, together with each of their successors and assigns, including any receiver, trustee or debtor-in-possession on behalf of
such Person or on behalf of any such successor or assign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Insolvency
Proceeding&rdquo; </I>shall mean, as to any Person, any of the following: (a)&nbsp;any case or proceeding with respect to such
Person under the U.S. Bankruptcy Code or any other Federal, State or foreign bankruptcy, insolvency, reorganization or other similar
law affecting creditors&rsquo; rights or any other or similar proceedings seeking any stay, reorganization, arrangement, composition
or readjustment of the obligations and indebtedness of such Person, or (b)&nbsp;any proceeding seeking the appointment of any trustee,
receiver, liquidator, custodian or other insolvency official with similar powers with respect to such Person or any material portion
of its assets, or (c)&nbsp;any proceeding for liquidation, dissolution or other winding up of the business of such Person, or (d)&nbsp;any
assignment for the benefit of creditors or any marshaling of assets of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&ldquo;<I>Junior Default
Notice&rdquo;</I> shall mean a written notice to Senior Agent pursuant to which Senior Agent is notified of the existence of a
Junior Event of Default, which notice incorporates a reasonably detailed description of such Junior Event of Default and indicates
that it is a &ldquo;Junior Default Notice&rdquo; for purposes of Section 2.4 of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Junior Event
of Default&rdquo; </I>shall mean a &ldquo;Default&rdquo; or an &ldquo;Event of Default&rdquo; under the Subordinated Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lenders&rdquo;
</I>shall mean, collectively, Senior Lenders and Subordinated Lenders, and their respective successors and assigns, being sometimes
referred to herein individually as a &ldquo;Lender.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lien&rdquo;
</I>shall mean any security interest, pledge, mortgage, deed of trust, hypothecation, assignment, deposit arrangement, encumbrance
(including easements, rights of way and the like), lien (statutory or other), security agreement or transfer intended as security,
including any conditional sale or other title retention agreement, the interest of a lessor under a capital lease or any financing
lease having substantially the same economic effect as any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Lien Enforcement
Action&rdquo; </I>shall mean (a)&nbsp;any action by or on behalf of any Lender to take possession of, sell or otherwise realize
(judicially or non-judicially) upon any Collateral (including by setoff or notification of account debtors but excluding all remittance
of collections to blocked accounts established by or for the benefit of Senior Creditors) and/or (b)&nbsp;the commencement by or
on behalf of any Lender of any legal proceedings against any Obligor to foreclose on the Lien of such Person in any Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Maximum Senior
Facility Debt&rdquo;</I> shall mean, as of any date of determination, (a)&nbsp;Fifty-Six Million Three Hundred Fifty Thousand Dollars
($56,350,000), <I>minus</I> (b)(i)&nbsp;the aggregate principal amount of permanent repayments (whether mandatory or voluntary)
of the Term Loans under the Senior Facility Loan Agreement constituting Senior Facility Debt after the date hereof and (ii)&nbsp;the
aggregate principal amount of repayments and prepayments of the Revolving Loans under the Senior Facility Loan Agreement to the
extent accompanied by a corresponding permanent reduction of the Revolving Credit Commitment under the Senior Facility Loan Agreement.
For the avoidance of doubt and notwithstanding anything to the contrary contained herein, the Maximum Senior Facility Debt shall
not apply to accrued and unpaid interest, Hedging Liability, Bank Product Liability, fees and charges payable under the Senior
Facility Loan Agreement and any other payment obligations of any Obligor arising under or in relation to any Senior Facility Loan
Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Blockable
Items&rdquo;</I> shall mean (a) payments in the form of Subordinated PIK Payments, (b) Subordinated Debt Costs and Expenses in
an aggregate amount not to exceed $25,000 in any twelve-month period (excluding Subordinated Debt Costs and Expenses paid on the
Closing Date), and (c) Distributions in the form of Reorganization Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Payment
Default&rdquo; </I>shall mean an Event of Default (as such term is defined in the Senior Facility Loan Agreement), other than a
Payment Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Non-Payment
Default Notice&rdquo; </I>shall have the meaning set forth in Section&nbsp;2.3(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Obligors&rdquo;
</I>shall mean, collectively, Borrower and, if and when applicable, any Guarantor, and shall include, with respect to any Guarantor,
its successors and assigns, including a receiver, trustee or debtor-in-possession on behalf of such Person or on behalf of any
such successor or assign (each individually, an <I>&ldquo;Obligor&rdquo;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Paid In Full&rdquo;</I>
or <I>&ldquo;Payment In Full&rdquo; </I>shall mean the Senior Facility Debt has been paid in full and satisfied in cash, all obligations
of Senior Creditors to advance funds or arrange for other financial accommodations under the Senior Facility Loan Agreement shall
have been irrevocably terminated, and all related letters of credit, bankers&rsquo; acceptances, bank products, swaps and other
hedging products or similar instruments issued under, or otherwise secured by or collateralized through the Senior Facility Loan
Documents shall have been cancelled to the satisfaction of Senior Creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Payment Default&rdquo;
</I>shall mean an Event of Default (as such term is defined in the Senior Facility Loan Agreement) arising from the failure by
any of the Obligors to make any payment of (a)&nbsp;principal, or (b)&nbsp;interest, or (c)&nbsp;fees, charges, costs, expenses
or indemnities in excess of $50,000, in respect of Senior Facility Debt (whether at maturity or at a date fixed for prepayment
or by declaration, acceleration or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Payment Default
Notice&rdquo; </I>shall have the meaning set forth in Section&nbsp;2.3(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Refinancing&rdquo; </I>shall mean any replacement, refunding or refinancing from time to time of the Senior Facility Debt under
the Senior Facility Loan Agreement, provided that the financing documentation entered into by the Obligors in connection with such
Permitted Refinancing constitute Permitted Refinancing Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Refinancing Documents&rdquo; </I>means any financing documentation which replaces the Senior Facility Loan Documents or any Permitted
Refinancing Document, as the case may be, and pursuant to which the outstanding Senior Facility Debt under the Senior Facility
Loan Documents or such Permitted Refinancing Documents, as the case may be, is refinanced, as such financing documentation may
be amended, supplemented, restated, refinanced or otherwise modified from time to time in compliance with this Subordination and
Intercreditor Agreement, but specifically excluding any such financing documentation to the extent that it contains any provision
violating Section&nbsp;5.7 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Permitted
Subordinated Debt Payments&rdquo;</I> means, collectively, (i) regularly scheduled payments of non-default interest on the Subordinated
Indebtedness when and as due under the Subordinated Loan Documents as in effect on the date hereof (or as may be amended in accordance
with the terms hereof), (ii)&nbsp;mandatory prepayments of principal when due under the Subordinated Credit Agreement but only
to the extent Senior Agent on behalf of itself and the Senior Creditors has waived in writing such mandatory prepayment or has
agreed in writing not to apply such amounts as a prepayment and permanent reduction of the Senior Facility Debt, (iii) voluntary
prepayments of the Subordinated Indebtedness solely to the extent permitted by Section 6.22 of the Senior Facility Loan Agreement,
(iv) payments of Subordinated Debt Costs and Expenses described in clause (b) of the definition of &ldquo;<I>Non-Blockable Items</I>&rdquo;
plus other Subordinated Debt Costs and Expenses in the aggregate not to exceed $100,000 for any twelve-month period (excluding
Subordinated Debt Costs and Expenses paid on the Closing Date), (v) closing fees (the amount of which shall have been previously
disclosed to Senior Lenders in writing on or before the date hereof and set forth in any funds flow memorandum) paid or payable
on the Closing Date, (vi) an annual valuation fee of $20,000, (vii) any payment to which the Senior Agent or Senior Lenders have
consented in writing, (viii) so long as (A) no Default or Event of Default (each as defined in the Senior Facility Loan Agreement)
shall have occurred and be continuing under the Senior Facility Loan Documents, (B) the Borrower shall be in pro forma compliance
with the covenants contained in Section 6.20 of the Senior Facility Loan Agreement, and (C) the Borrower shall have (x) Unused
Revolving Credit Commitments plus unrestricted cash and Cash Equivalents (as defined in the Senior Facility Loan Agreement) and
(y) Borrowing Base Availability plus unrestricted cash and Cash Equivalents, in each case, of at least $7,500,000, AHYDO Catch-Up
Payments, (ix) the repayment in full of the Subordinated Indebtedness on the maturity date specified in the Subordinated Loan Documents
as of the date hereof (as may be amended in accordance with the terms hereof), and (x) payments or Distributions constituting Non-Blockable
Items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Person&rdquo;
</I>or <I>&ldquo;person&rdquo; </I>shall mean any individual, sole proprietorship, partnership, corporation (including any corporation
which elects subchapter S status under the Internal Revenue Code of 1986, as amended), limited liability company, limited liability
partnership, business trust, unincorporated association, joint stock company, trust, joint venture, or other entity or any government
or any agency or instrumentality or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Release Event&rdquo;
</I>shall mean (a)&nbsp;prior to the occurrence of an Insolvency Proceeding by or against any Obligor, the occurrence and continuance
of an Event of Default (as such term is defined in Senior Facility Loan Agreement) or (b)&nbsp;after the occurrence of an Insolvency
Proceeding by or against any Obligor, the occurrence of any of the following: (i)&nbsp;the entry of an order of a Bankruptcy Court
pursuant to Section&nbsp;363 of the U.S. Bankruptcy Code authorizing the sale of any portion of any Obligor&rsquo;s assets or (ii)&nbsp;the
taking of any Lien Enforcement Action with respect to Collateral by Senior Creditors or the entry of an order of a Bankruptcy Court
pursuant to Section&nbsp;362 of the U.S. Bankruptcy Code vacating the automatic stay and authorizing Senior Creditors to take any
Lien Enforcement Action with respect to Collateral, or (c)&nbsp;the sale of any assets of an Obligor that is permitted under the
Senior Facility Loan Documents and the Subordinated Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Reorganization
Securities&rdquo; </I>shall mean<I> </I>any debt or equity securities of any Obligor or any other Person issued in connection with
any Insolvency Proceeding, provided that (a)&nbsp;in the case of equity securities, if such equity securities provide for mandatory
redemption or mandatory dividend payments, the payment thereof shall be subordinated in right of payment, at least to the same
extent provided in this Subordination and Intercreditor Agreement with respect to the Subordinated Obligations, to the Payment
in Full of all Senior Facility Debt and to the payment in full of all debt or equity securities having such features issued in
exchange for the Senior Facility Debt to the holders of Senior Facility Debt, and (b)&nbsp;in the case of debt securities, any
payment in respect of such debt securities and any liens securing such debt securities shall be subordinated at least to the same
extent provided in this Subordination and Intercreditor Agreement with respect to the Subordinated Obligations, to the Payment
in Full of all Senior Facility Debt and to the payment in full of all debt securities issued in exchange for the Senior Facility
Debt to the holders of Senior Facility Debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Creditors&rdquo;
</I>shall mean, individually and collectively, Senior Agent and Senior Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Event
of Default&rdquo; </I>shall mean an Event of Default (as such term is defined in the Senior Facility Loan Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Facility
Debt&rdquo; </I>shall mean any and all obligations, liabilities and indebtedness of every kind, nature and description owing by
any Obligor to Senior Creditors (or any lender party to Permitted Refinancing Documents) and, with respect to Hedging Liability
and Bank Product Liability (each as defined in the Senior Facility Loan Agreement), their Affiliates (as defined in the Senior
Facility Loan Agreement), evidenced by or arising under the Senior Facility Loan Documents, whether direct or indirect, absolute
or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, including principal, interest,
charges, fees, costs, contingent reimbursement obligations under any outstanding letters of credit, indemnities and expenses, however
evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising
before, during or after the initial or any renewal term of the Senior Facility Loan Agreement not prohibited under Section&nbsp;5.7
hereof (and including all of the &ldquo;Secured Obligations,&rdquo; as defined in the Senior Facility Loan Agreement, and the payment
of interest which would accrue and become due but for the commencement of any Insolvency Proceeding (as hereinafter defined) whether
or not such interest is allowed or allowable in whole or in part in any such Insolvency Proceeding). The aggregate principal amount
of all advances made under the Senior Facility Loan Documents, plus the undrawn face amount of letters of credit outstanding thereunder
(but excluding, in any event, principal consisting of fees and expense reimbursements due and payable under and added to principal
in accordance with the Senior Facility Loan Documents, and interest, including default interest, added to principal) shall not
exceed the Maximum Senior Facility Debt at any time. For avoidance of doubt, Senior Creditors and Subordinated Creditors acknowledge
that in the event the amounts referenced in the immediately preceding sentence at any time exceed the Maximum Senior Facility Debt,
(i)&nbsp;the existence of such excess shall not impair or otherwise affect the subordination arrangements provided for herein with
respect to that portion of such amounts that fall within the Maximum Senior Facility Debt, but (ii)&nbsp;all such excess, together
with all interest charged thereon and all fees charged in respect thereof, shall not constitute Senior Facility Debt hereunder
and shall be subordinated to the Subordinated Indebtedness on the same terms as applicable to the Subordinated Indebtedness hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Facility
Loan Agreement&rdquo; </I>shall mean the Credit Agreement, dated as of the date hereof, among Senior Agent, Senior Lenders, Borrower
and the other Obligors party thereto, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed
or restated to the extent not prohibited by Section&nbsp;5.7 hereof, including any replacement senior loan agreement constituting
a Permitted Refinancing Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Facility
Loan Documents&rdquo; </I>shall mean (a)&nbsp;the Senior Facility Loan Agreement, each of the &ldquo;Loan Documents&rdquo; (as
defined therein), and any and all other agreements, documents and instruments at any time executed and/or delivered by any Obligor
or any other Person with, to or in favor of Senior Creditors or any affiliates of Senior Creditors in connection therewith or related
thereto, as all of the foregoing now exist or may hereafter be amended, modified, supplemented, extended, renewed or restated to
the extent not prohibited by Section&nbsp;5.7 hereof, and (b)&nbsp;after the consummation of any Permitted Refinancing, the Permitted
Refinancing Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Senior Lenders&rdquo;
</I>shall have the meaning specified in the Recitals to this Subordination and Intercreditor Agreement; <I>provided </I>that, any
Affiliate of such Senior Lender with whom any Obligor has entered into an agreement creating Hedging Liability or Bank Product
Liability shall also be Senior Lender hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Credit Agreement&rdquo; </I>shall mean the subordinate Credit Agreement, dated as of the date hereof, among Subordinate Agent,
Subordinated Lenders, Borrower and the other Obligors party thereto, as the same now exists or may hereafter be amended, modified,
supplemented, extended, renewed or restated to the extent not prohibited by Section&nbsp;5.8 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Creditors&rdquo; </I>shall mean, individually and collectively, Subordinate Agent and Subordinated Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Debt Costs and Expenses&rdquo; </I>means reasonable out-of-pocket costs and expenses (including reasonable out-of-pocket legal
fees and expenses) payable by the Obligors to each Subordinated Creditor pursuant to the terms of the Subordinated Loan Documents
as in effect on the date of this agreement or as modified in accordance with the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Debt Maturity Date&rdquo; </I>mean the &ldquo;Maturity Date&rdquo; as defined in the Subordinated Credit Agreement as in effect
on the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Indebtedness&rdquo; </I>shall mean all obligations, liabilities and indebtedness of every kind, nature and description owing by
any Obligor to Subordinated Creditors evidenced by or arising under the Subordinated Loan Documents, whether direct or indirect,
absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, including principal,
interest (whether paid in cash or in kind), charges, fees, costs, indemnities and expenses, however evidenced, whether as principal,
surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the
initial or any renewal term of the Subordinated Loan Documents or after the commencement of any Insolvency Proceeding with respect
to any Obligor (and including the payment of interest which would accrue and become due but for the commencement of such Insolvency
Proceeding, whether or not such interest is allowed or allowable in whole or in part in any such Insolvency Proceeding). The aggregate
principal amount of all Subordinated Indebtedness shall not exceed Thirteen Million Dollars ($13,000,000) plus Subordinated PIK
Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Lenders&rdquo; </I>shall mean, individually or collectively, the &ldquo;Lenders&rdquo; as defined in the Subordinated Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Loan&rdquo; </I>shall mean the unsecured term loan from Subordinated Lenders to Borrower under the Subordinated Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Loan Documents&rdquo; </I>shall mean the Subordinated Credit Agreement, the Subordinated Loan Notes, and all agreements, documents
and instruments at any time executed and/or delivered by any Obligor or any other Person with, to or in favor of Subordinated Lenders
in connection therewith or related thereto, as all of the foregoing now exist or may hereafter be amended, modified, supplemented,
extended, renewed or restated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
Loan Notes&rdquo; </I>shall mean any and all senior subordinated notes issued from time to time to Subordinated Lenders to evidence
repayment of the Subordinated Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Subordinated
PIK Payments&rdquo; </I>shall mean interest or other amounts paid in-kind or on an accretion basis (and not paid in cash) under
the Subordinated Loan Documents as in effect on the date hereof, or as otherwise modified from time to time in accordance with
the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<I>Top Co</I>&rdquo;
means Limbach Holdings, Inc., a Delaware corporation, which entity was named 1347 Capital Corp. prior to the consummation of the
Required Merger (as defined in the Senior Facility Loan Agreement) or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Triggering
Event&rdquo; </I>means the occurrence of any one of the following events: (a)&nbsp;the acceleration of all or any portion of the
Senior Facility Debt, (b)&nbsp;the exercise of remedies by Senior Agent or Senior Creditors against the Obligors or the Collateral,
(c)&nbsp;the commencement of an Insolvency Proceeding with respect to any Obligor, and (d)&nbsp;any failure by the Borrower to
pay principal or interest in respect of the Subordinated Indebtedness which continues for a period of not less than 90 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;Unused Revolving
Credit Commitments&rdquo; </I>shall have the meaning assigned to such term in the Senior Facility Loan Agreement as in effect as
of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&ldquo;U.S. Bankruptcy
Code&rdquo;</I> means Title 11 of the United States Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The definitions of
terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words &ldquo;include,&rdquo; &ldquo;includes&rdquo; and
&ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation.&rdquo; The word &ldquo;will&rdquo;
shall be construed to have the same meaning and effect as the word &ldquo;shall.&rdquo; Unless the context requires otherwise (a)&nbsp;any
definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or otherwise modified to the extent not a violation of
Section&nbsp;5.7 or Section&nbsp;5.8 hereof, as the case may be, (b)&nbsp;any reference herein to any Person shall be construed
to include such Person&rsquo;s successors and permitted assigns, (c)&nbsp;the words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo;
and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Subordination and Intercreditor Agreement
in its entirety and not to any particular provision hereof, (d)&nbsp;all references herein to Sections not otherwise identified
herein as referring to another agreement shall be construed to refer to Sections of this Subordination and Intercreditor Agreement,
(e)&nbsp;any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended,
modified or supplemented from time to time, and any successor of such law or regulation and (f)&nbsp;the words &ldquo;asset&rdquo;
and &ldquo;property&rdquo; shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights. All terms that are used in this Subordination
and Intercreditor Agreement which are defined in the Uniform Commercial Code of the State of New York as in effect from time to
time (<I>&ldquo;UCC&rdquo;</I>) shall have the same meanings herein as such terms are defined in the UCC, unless this Subordination
and Intercreditor Agreement shall otherwise specifically provide. References &ldquo;from&rdquo; or &ldquo;through&rdquo; any date
mean, unless otherwise specified, &ldquo;from and including&rdquo; or &ldquo;through and including&rdquo;, respectively. References
to any statute or act, without additional reference, shall be deemed to refer to federal statutes and acts of the United States
of America.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt
Priorities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Obligors and Subordinate
Agent hereby covenant that until the Senior Facility Debt shall have been Paid In Full, each will comply with each of the following
provisions as are applicable to it:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfers.</I>
Subordinate Agent covenants that any transferee of any Subordinated Indebtedness shall, prior to acquiring such interest, duly
execute and deliver a counterpart of this Subordination and Intercreditor Agreement to each other party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordination
to Senior Facility Debt.</I> To induce Senior Creditors to enter into the Senior Facility Loan Agreement and to make loans and
advances thereunder, notwithstanding any other provision of the Subordinated Loan Documents to the contrary, any Distribution with
respect to the Subordinated Indebtedness is and shall be expressly junior and subordinated in right and time of payment as set
forth herein to all amounts due and owing upon all Senior Facility Debt outstanding from time to time. Until the Senior Facility
Debt is Paid In Full, unless an Insolvency Proceeding has commenced (as to which Sections&nbsp;2.5, 2.7, 5.5 and 5.6 hereof shall
apply), Obligors will not make and Subordinate Agent shall not accept or retain any Distribution in respect of the Subordinated
Indebtedness other than, subject to Section 2.3 herein, Permitted Subordinated Debt Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments.
</I>(a)&nbsp;From and after receipt by Subordinate Agent of written notice from Senior Agent of the occurrence of a Payment Default
(such written notice, a <I>&ldquo;Payment Default Notice&rdquo;</I>), Obligors shall not make any Distribution on the Subordinated
Indebtedness and Subordinate Agent shall not be entitled to receive or retain any Distribution in respect of the Subordinated Indebtedness
received subsequent to such receipt of the Payment Default Notice (other than, in either case, Non-Blockable Items) until the earlier
to occur of (i)&nbsp;the date on which all Payment Defaults described in such Payment Default Notice shall have been waived in
writing by Senior Agent or (ii)&nbsp;the Senior Facility Debt is Paid In Full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
and after receipt by Subordinate Agent of written notice from Senior Agent of the occurrence of a Non-Payment Default (such written
notice, a <I>&ldquo;Non-Payment Default Notice&rdquo;</I>), Obligors shall not make any Distribution on the Subordinated Indebtedness
and Subordinate Agent shall not be entitled to receive or retain any Distribution in respect of the Subordinated Indebtedness received
subsequent to such receipt of the Non-Payment Default Notice (other than, in either case, Non-Blockable Items) until the earlier
to occur of (i)&nbsp;the date on which all Non-Payment Defaults described in such Non-Payment Default Notice shall have been waived
in writing by Senior Agent, (ii)&nbsp;the Senior Facility Debt is Paid In Full or (iii)&nbsp;subject to Section 2.6, the expiration
of a period of one hundred eighty (180) days from Subordinate Agent&rsquo;s receipt of such Non-Payment Default Notice. Notwithstanding
any provision of this Section 2.3 to the contrary: (i) the Obligors shall not be prohibited from making, and the Subordinate Agent
shall not be prohibited from receiving, payments as a result of clause (b) of this Section 2.3 for more than an aggregate of one
hundred eighty (180) days within any period of three hundred sixty (360) consecutive days; (ii) no Non-Payment Default existing
on the date any Non-Payment Default Notice is given shall, unless the same shall have ceased to exist for a period of at least
thirty (30) consecutive days, be used as a basis for any subsequent Non-Payment Default Notice (for purposes of this paragraph,
breaches of the same financial covenant for consecutive periods shall constitute separate and distinct Non-Payment Defaults); and
(iii) no more than five (5) Non-Payment Default Notices may be sent in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the expiration of the applicable period described in Section&nbsp;2.3(a) or 2.3(b), as the case may be, or the waiver in writing
of such Payment Default or Non-Payment Default referenced in such Non-Payment Default Notice or Payment Default Notice, as applicable,
and so long as another Non-Payment Default Notice or Payment Default Notice has not been duly given hereunder and is then in effect,
Obligors may make and Subordinate Agent may accept and retain (i)&nbsp;Permitted Subordinated Debt Payments, and (ii)&nbsp;any
Permitted Subordinated Debt Payments missed due to the application of paragraph Section&nbsp;2.3(a) or 2.3(b). For the avoidance
of doubt, Non-Blockable Items may be paid and retained at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suspension
of Remedies.</I> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During any period described in Section&nbsp;2.3
hereof in which a Distribution is not permitted to be made on Subordinated Indebtedness, Subordinated Creditors shall not be entitled
to (i)&nbsp;accelerate the maturity of any of the Subordinated Indebtedness, exercise any unsecured creditor remedies or other
suit, action or proceeding, recover any amounts due or to become due with respect to Subordinated Indebtedness, or exercise any
self-help remedies available at law, or (ii)&nbsp;join in, solicit any other Person to join in, or petition to cause the commencement
of, any case involving any Obligor under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver
for the affairs or property of such Obligor; <I>provided</I>, <I>however</I>, the foregoing limitations with respect to such unsecured
creditor remedies shall not be applicable following the earliest to occur of any of the following: (A)&nbsp;the occurrence of an
Insolvency Proceeding (as to which Sections&nbsp;2.5, 2.7, 5.5 and 5.6 hereof shall apply), (B)&nbsp;the maturity or acceleration
of all Senior Facility Debt, (C)&nbsp;the expiration of a period of one hundred eighty (180) days following the date of Senior
Agent&rsquo;s receipt of a Junior Default Notice if the Junior Event of Default described therein shall not have been cured or
waived within such period, or (D)&nbsp;the Subordinated Debt Maturity Date; and <I>provided</I>, <I>further</I>, that the commencement
and/or exercise of such unsecured creditor remedies by Subordinated Creditors shall at all times be subject to Section&nbsp;3 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary set forth in this Subordination and Intercreditor Agreement, nothing herein shall prevent Subordinated
Creditors from (i)&nbsp;filing any proof of claim with respect to the Subordinated Indebtedness in any Insolvency Proceeding, (ii)&nbsp;taking
legal action against any Obligor for specific performance or injunctive relief to compel an Obligor to comply with (or not violate
or breach) an obligation under the Subordinated Loan Documents, <I>provided</I> that any such action does not require the making
of any payments on the Subordinated Indebtedness or otherwise directly affect the Collateral or Senior Creditors&rsquo; rights
to pursue Lien Enforcement Actions or other remedies, (iii)&nbsp;file any necessary responsive or defensive pleadings in opposition
to any motion, claim, adversary proceeding or other pleading objecting to or otherwise seeking the disallowance of the claims for
any Subordinated Indebtedness, so long as such filing is in accordance with, and in a manner that is consistent with, the terms
of this Agreement, (iv)&nbsp;any non-judicial procedural actions that may be required or desired as a precondition to acceleration
or relating to preservation of rights (such as giving a notice of default or reservation of rights (including reservation of acceleration
rights subject to the terms of this Subordination and Intercreditor Agreement)), or (v)&nbsp;upon the occurrence and during the
continuance of a Junior Event of Default, the delivery to Obligors of a notice of acceleration, <I>provided</I> such acceleration
is not effective until the earliest of the dates specified in Section&nbsp;2.4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
Payment of Senior Facility Debt in Bankruptcy, Etc.</I> In the event of an Insolvency Proceeding relative to any Obligor, the
Senior Facility Debt shall be Paid In Full before any Distribution (other than a Distribution of Reorganization Securities) shall
be made on account of any Subordinated Indebtedness. Any such Distribution (except Reorganization Securities) which would, but
for the provisions hereof, be payable or deliverable in respect of the Subordinated Indebtedness, shall be paid or delivered directly
to Senior Agent until all amounts owing upon Senior Facility Debt shall have been Paid In Full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voting
Rights; Power of Attorney.</I> Notwithstanding anything to the contrary herein, at any meeting of creditors of any Obligor or
with respect to any Insolvency Proceeding, Subordinated Creditors shall retain the right to vote and otherwise act with respect
to the Subordinated Indebtedness (including the right to vote to accept or reject any plan of partial or complete liquidation,
reorganization, arrangement, composition or extension); <I>provided</I>, <I>however</I>, that Subordinated Creditors shall not
vote with respect to any such plan or take any action in any way so as to contest (a)&nbsp;the validity of any Senior Facility
Debt or any collateral therefor or guaranties thereof, (b)&nbsp;the relative rights and duties of Senior Creditors established
in any instruments or agreements creating or evidencing any of the Senior Facility Debt or (c)&nbsp;the obligations and agreements
of Subordinate Agent set forth in this Subordination and Intercreditor Agreement; <I>provided</I> that nothing in this Subordination
and Intercreditor Agreement shall be construed to prevent or impair the rights of Subordinate Agent or Subordinated Lenders to
enforce this Subordination and Intercreditor Agreement or in general their rights as unsecured creditor, all of which rights are
expressly reserved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything
to the contrary herein, Subordinate Agent hereby appoints Senior Agent as Subordinate Agent&rsquo;s true and lawful attorney, with
full power of substitution, in the name of Subordinate Agent, without notice to Subordinate Agent or any of its respective representatives,
successors or assigns, at any meeting of creditors of any Obligor or any subsidiary of any Obligor or in connection with any Insolvency
Proceeding, solely to file an appropriate claim for and on behalf of Subordinate Agent and the Subordinated Lenders, if a proper
claim or proof of debt in respect of the Subordinated Indebtedness has not been filed by Subordinate Agent in the form required
at such meeting or with respect to any such Insolvency Proceeding, at least ten (10) Business Days prior to the expiration of the
final day for filing such claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knowledge;
Delivery of Default Notice.</I> Subordinate Agent shall not at any time be charged with knowledge of any of the events described
in Section&nbsp;2 hereof or on such account be prohibited from receiving or retaining any payment of monies or from taking any
action regarding acceleration or the exercise of remedies, unless and until, when relevant, Subordinate Agent shall have received
a Default Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Default Notice
shall be deemed to be properly given by Senior Creditors to and received by Subordinated Creditors if such Default Notice is delivered
in accordance with Section&nbsp;5.9 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments
Held in Trust</I>. Should any Distribution or the proceeds thereof, in respect of the Subordinated Indebtedness, be collected or
received by any Subordinated Creditors or any Affiliate (as such term is defined in Rule 405 of Regulation C adopted by the Securities
and Exchange Commission pursuant to the Securities Act of 1933, as amended) of such Subordinated Creditor at a time when Subordinated
Creditors are not permitted to receive any such Distribution or proceeds thereof, then such Subordinated Creditor shall forthwith
deliver, or cause to be delivered, the same to Senior Agent in precisely the form held by such Subordinated Creditor (except for
any necessary endorsement, which shall be without recourse to such Subordinated Creditor except as to the actions of such Subordinated
Creditor) and until so delivered, the same shall be held in trust by such Subordinated Creditor, or any such Affiliate, as the
property of Senior Creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;2.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scope
of Subordination.</I> (a)&nbsp;The provisions of this Section&nbsp;2 are solely to define the relative rights of Subordinated
Creditors and Senior Creditors. Nothing in this Subordination and Intercreditor Agreement shall impair, as between any Obligor
and Subordinated Creditor the unconditional and absolute obligation of Obligors to punctually pay the principal, interest and
any other amounts and obligations owing under the Subordinated Loan Documents in accordance with the terms thereof, subject to
the rights of Senior Creditors under this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the Payment in Full of the Senior Facility Debt, in the event and to the extent cash, property or securities otherwise payable
or deliverable to the holders of the Subordinated Indebtedness shall have been applied pursuant to this Subordination and Intercreditor
Agreement to the payment of Senior Facility Debt, then and in each such event, the holders of the Subordinated Indebtedness shall
be subrogated to the rights of each holder of Senior Facility Debt to receive any further payment or distribution in respect of
or applicable to the Senior Facility Debt; and, for the purposes of such subrogation, no payment or distribution to the holders
of Senior Facility Debt of any cash, property or securities to which any holder of Subordinated Indebtedness would be entitled
except for the provisions of this Subordination and Intercreditor Agreement shall, and no payment pursuant to the provisions of
this Subordination and Intercreditor Agreement to the holders of Senior Facility Debt by the holders of the Subordinated Indebtedness
shall, as between any Obligor, its creditors other than the holders of Senior Facility Debt and the holders of Subordinated Indebtedness,
be deemed to be a payment by such Obligor to or on account of Senior Facility Debt.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security
Interests; Priorities; Remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens.
</I>(a) Subordinate Agent hereby acknowledges that Senior Creditors have been granted Liens upon all of the Collateral pursuant
to the Senior Facility Loan Documents to secure the Senior Facility Debt. Subordinate Agent hereby acknowledges and agrees that
(i) the Subordinated Indebtedness is unsecured pursuant to the Subordinated Loan Documents and (ii) the Subordinated Indebtedness
shall not become secured by any assets or properties of, or interests in, any of the Obligors or any other Person other than as
a result of judgment Liens permitted under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, any judgment Lien that arises in favor of the Subordinate Agent or any Subordinated Creditor as a result of enforcement
of rights available to the Subordinate Agent and/or the Subordinated Creditors in accordance with the terms of the Subordinated
Credit Agreement and this Agreement, shall (i) not attach to any assets or property of the Obligors other than the Collateral and
(ii) be subordinated to the Liens granted to the Senior Creditors pursuant to the terms of the Senior Facility Loan Documents.
So long as the Senior Facility Debt has not been Paid in Full, each Subordinated Creditor holding a judgment Lien agrees not to
enforce or take any steps to enforce such judgment Lien and not to take or receive any Collateral or any proceeds of Collateral
in connection with the exercise of any right or remedy in its capacity as a judgment creditor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Priority;
Remedies</I>. (a)&nbsp;Subordinate Agent hereby agrees that it is the intention of the parties hereto that Senior Creditors shall
have a first priority perfected security interest and Lien on the Collateral to secure the Senior Facility Debt. Subordinated
Creditors agree not to initiate, prosecute or participate in any claim, action or other proceeding challenging or contesting the
enforceability, validity, attachment, perfection or priority of the Senior Facility Debt or any Liens securing the Senior Facility
Debt. As between Senior Creditors and Subordinated Creditors, the terms of this Subordination and Intercreditor Agreement shall
govern even if all or a portion of the Senior Facility Debt or the Subordinated Indebtedness, as the case may be, or the Liens
securing payment of the Senior Facility Debt, are voided, disallowed, or otherwise invalidated or reduced in priority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
priority of the Liens granted to secure the Senior Facility Debt shall not be altered or otherwise affected by any amendment, modification,
supplement, extension, renewal or restatement of the Senior Facility Debt in compliance with the terms of this Subordination and
Intercreditor Agreement nor by any action or inaction which Senior Creditors may take or fail to take in respect of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Contest.</I> The foregoing provisions of this Subordination and Intercreditor Agreement shall not impose on the Senior Lenders
any obligations in respect of the disposition of proceeds of any Collateral which would conflict with prior perfected claims therein
in favor of any other Person or any order or decree of any court or governmental authority or any applicable law. Subject to the
terms of this Subordination and Intercreditor Agreement, Subordinate Agent (on behalf of itself and the Subordinated Creditors)
agrees that it will not contest (and will not support any other Person in contesting) the validity, perfection, priority or enforceability
of the Liens of Senior Creditors in the Collateral. As between Senior Creditors and Subordinated Creditors (and each of the Obligors),
the terms of this Subordination and Intercreditor Agreement shall govern even if all or a portion of the Senior Facility Debt
or the Subordinated Indebtedness, as the case may be, or the Liens securing payment thereof, are voided, disallowed, or otherwise
invalidated or reduced in priority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exclusive
Right of Action with respect to the Collateral. </I>(a)&nbsp;Subject to the terms and conditions set forth in this Subordination
and Intercreditor Agreement, Senior Creditors shall have the exclusive right to manage, perform and enforce their rights and remedies
under the Senior Facility Loan Documents with respect to the Collateral and exercise and enforce all privileges and rights with
respect thereto according to their discretion and the exercise of their business judgment and in a commercially reasonable manner,
including the exclusive right to take or retake control or possession of such Collateral and to hold, prepare for sale, process,
sell, lease, dispose of, or liquidate such Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in any of the Agreements, prior to the time when Senior Creditors shall have received Payment
In Full of all Senior Facility Debt, during the continuance of a Release Event, only Senior Creditors shall have the right to restrict
or permit, or approve or disapprove, the sale, transfer, assignment, or other disposition of any or all of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
contained herein shall be construed in any way to limit or impair the right of any Lender to bid for (<I>provided</I> that such
bid may not include a credit bid in respect of any Subordinated Indebtedness unless in connection with such bid the Senior Facility
Debt is Paid in Full) or purchase Collateral at any private or judicial foreclosure upon such Collateral initiated by any Senior
Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation
of Liability. </I>If Senior Creditors should honor a request by any Obligor for a loan, advance or other financial accommodation
under the Senior Facility Loan Documents, whether or not Senior Creditors have knowledge that such loan, advance or other financial
accommodation will be used for a purpose which would result in an event of default, or act, condition or event which with notice
or passage of time or both would constitute an event of default under the Subordinated Loan Documents, in no event shall Senior
Creditors have any liability to Subordinated Creditors as a result of such breach. As between Obligors and Subordinated Creditors,
nothing contained in this Section&nbsp;3.5 shall limit or waive any right that Subordinated Creditors have to enforce any of the
provisions of the Subordinated Loan Documents against any Obligor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;3.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery
of Notices. </I>Senior Agent and Subordinate Agent shall give to the other party, concurrently with the giving thereof to any
Obligor, a copy of any written notice by such party of (a)&nbsp;an event of default under its Agreements, (b)&nbsp;demand for
payment, or (c)&nbsp;such party&rsquo;s intention to exercise any of its enforcement rights or remedies, including written notice
pertaining to any foreclosure on any of the Collateral or other judicial or non-judicial remedy in respect thereof to the extent
permitted hereunder, and the initial legal process served or filed in connection with any such judicial remedy; <I>provided</I>
that the failure of either party to give notice as required hereby shall not affect the validity or effectiveness of any such
notice as against any Obligor.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waiver
of Marshaling and Priority of Recourse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Each Lender hereby waives
any right to require the other Lender to marshal any security or collateral or otherwise to compel the other Lender to seek recourse
against or satisfaction of the indebtedness and obligations owed to it from one source before seeking recourse or satisfaction
from another source.</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.95pt; text-indent: -84.95pt">Section&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representations.
</I>(a)&nbsp;Subordinate Agent (on behalf of itself and the Subordinated Lenders) represents and warrants to Senior Agent as of
the date hereof, which representations and warranties shall survive the execution and delivery hereof, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
execution, delivery and performance of this Subordination and Intercreditor Agreement by Subordinate Agent are within the powers
of Subordinate Agent, have been duly authorized by Subordinate Agent, and, to its knowledge without independent investigation,
do not contravene any law or any provision of any of the Subordinated Loan Documents or any agreement to which Subordinated Creditor
is a party or by which it is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;this
Subordination and Intercreditor Agreement constitutes the legal, valid and binding obligation of Subordinate Agent, enforceable
in accordance with its terms, and shall be binding on it, subject to bankruptcy, insolvency and similar laws affecting creditors&rsquo;
rights generally and principles of equity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate
Agent is authorized to enter into this Subordination and Intercreditor Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
stated maturity date of the Subordinated Loan Notes is the Subordinated Debt Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior
Agent (on behalf of itself and the Senior Creditors) hereby represents and warrants to Subordinate Agent as of the date hereof,
which representations and warranties shall survive the execution and delivery hereof, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
execution, delivery and performance of this Subordination and Intercreditor Agreement by Senior Agent are within the powers of
Senior Agent, have been duly authorized by Senior Agent, and, to its knowledge without independent investigation, do not contravene
any law or any provision of the Senior Facility Loan Documents or any agreement to which any Senior Creditor is a party or by which
it is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;this
Subordination and Intercreditor Agreement constitutes the legal, valid and binding obligation of Senior Agent, enforceable in accordance
with its terms, and shall be binding on it, subject to bankruptcy, insolvency and similar laws affecting creditors&rsquo; rights
generally and principles of equity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior
Agent is authorized to enter into this Subordination and Intercreditor Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
stated maturity date of the Senior Facility Debt is July 20,&nbsp;2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions
of Subordinated Loan Note. </I>From and after the date hereof, Obligors and Subordinate Agent shall have caused each Subordinated
Loan Note to contain a provision to the following effect:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">This Note is
subject to the Subordination and Intercreditor Agreement, dated as of July 20, 2016, among the maker of this Note, Alcentra Capital
Corporation, as Subordinate Agent and Fifth Third Bank, as Senior Agent, under which this Note and the maker&rsquo;s obligations
hereunder are subordinated in the manner set forth therein to the prior payment of certain indebtedness and obligations to the
holders of Senior Facility Debt as defined in the Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Proof of compliance
with the foregoing shall be promptly given to Senior Agent upon request for same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments.
</I>Any waiver, permit, consent or approval by either Senior Agent or Subordinate Agent of or under any provision, condition or
covenant to this Subordination and Intercreditor Agreement must be in writing and shall be effective only to the extent it is
set forth in writing and as to the specific facts or circumstances covered thereby. Any amendment of this Subordination and Intercreditor
Agreement must be in writing and signed by Senior Agent and Subordinate Agent and acknowledged by the Obligors. Promptly after
the execution of any amendment to any of the Agreements, each of Senior Agent and Subordinate Agent agrees to use commercially
reasonable efforts to notify the other of such amendment, but the failure to so notify shall not in any way invalidate any term
or provision contained in this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successors
and Assigns. </I>(a)&nbsp; Subject to this Section 5.4, this Subordination and Intercreditor Agreement shall be binding upon each
Senior Creditor and Subordinated Creditor and their respective successors and assigns and shall inure to the benefit of each of
them and their respective successors, participants and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted in their respective Agreements, each of the Lenders reserves the right to grant participations in, or otherwise
sell, assign, transfer or negotiate all or any part of, or any interest in, the Senior Facility Debt or the Subordinated Indebtedness,
as the case may be; <I>provided</I> that neither Senior Creditors nor Subordinated Creditors shall be obligated to give any notices
to or otherwise in any manner deal directly with any participant in the Senior Facility Debt or the Subordinated Indebtedness,
as the case may be, and no participant shall be entitled to any rights or benefits under this Subordination and Intercreditor Agreement
except through the Lender with which it is a participant, and any sale of a participation in either the Senior Facility Debt or
the Subordinated Indebtedness shall be expressly made subject to the provisions of this Subordination and Intercreditor Agreement
(including Section&nbsp;4); <I>provided, further</I>, that none of the Senior Facility Debt may be assigned, sold or otherwise
transferred to Top Co (other than in connection with a retirement of such debt by an Obligor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with any participation or other transfer or assignment, a Lender (i)&nbsp;may, subject to its respective Agreement,
disclose to such assignee, participant or other transferee or assignee all documents and information which such Lender now or hereafter
may have relating to any Obligor or the Collateral and (ii)&nbsp;shall disclose to such participant or other transferee or assignee
the existence, and terms and conditions, of this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the case of an assignment or transfer, the assignee or transferee acquiring any interest in the Subordinated Indebtedness or the
Senior Facility Debt, as the case may be, shall execute and deliver to Senior Agent or Subordinate Agent, as applicable, at the
request of any of the parties, a written acknowledgment of receipt of a copy of this Subordination and Intercreditor Agreement
and the written agreement by such Person to be bound by the terms of this Subordination and Intercreditor Agreement; <I>provided</I>
that no acknowledgement shall be required in connection with the Subordinated Agent&rsquo;s grant of a security interest in the
Subordinated Indebtedness under its credit facility unless and until the agent with respect to such credit facility elects to enforce
remedies thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior
Agent and Subordinate Agent hereby agree that any party that refinances the Senior Facility Debt shall execute and agree to be
bound by and subject to this Subordination and Intercreditor Agreement and may rely on and enforce this Subordination and Intercreditor
Agreement. Subordinate Agent further hereby agrees that it will, at the request of Senior Agent (or any party that refinances the
Senior Facility Debt pursuant to a Permitted Refinancing), enter into an agreement, in the form of this Subordination and Intercreditor
Agreement, <I>mutatis mutandis</I>, to subordinate the Subordinated Indebtedness, to the same extent as provided herein, to the
party refinancing all or a portion of such Senior Facility Debt; <I>provided</I> that the failure of Subordinate Agent to execute
such an agreement shall not affect such party&rsquo;s right to rely on and enforce the terms of this Subordination and Intercreditor
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insolvency.
</I>(a)&nbsp;This Subordination and Intercreditor Agreement shall be applicable both before and after any Insolvency Proceeding,
to include the filing of any petition by or against any Obligor under the U.S. Bankruptcy Code and all converted or succeeding
cases in respect thereof, and all references herein to an Obligor shall be deemed to apply to the trustee, receiver, etc., for
such Obligor and such Obligor as debtor-in-possession. The relative rights of Senior Creditors on the one hand, and Subordinated
Creditors, on the other hand, in or to any Distributions, including Distributions from or in respect of any Collateral or proceeds
of Collateral, shall continue after the filing thereof on the same basis as prior to the date of the petition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated
Creditors shall not propose to provide, or provide, any financing arrangements to any Obligor after such Obligor is subject to
an Insolvency Proceeding, if (i)&nbsp;the Liens securing such financing arrangements shall be prior to the Liens of Senior Creditors
or any DIP Lender (as hereinafter defined); or (ii)&nbsp;the repayment of such financing arrangements benefits from a &ldquo;super
priority&rdquo; or other statutory or court-ordered priority over the financing arrangements provided by Senior Creditors (either
prior to or during the pendency of the Insolvency Proceeding) or any DIP Lender (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bankruptcy
Financing; Adequate Protection.</I> (a)&nbsp;If any Obligor shall become subject to any Insolvency Proceeding, to include a case
under the U.S. Bankruptcy Code, and if as debtor(s)-in-possession it moves for approval of financing to be provided in good faith
by any Senior Creditor or another Person (the <I>&ldquo;DIP Lender&rdquo;</I>) under Section&nbsp;364 of the U.S. Bankruptcy Code
or for the use of cash collateral with the consent of the DIP Lender under Section&nbsp;363 of the U.S. Bankruptcy Code, Subordinated
Creditors agree that no objection will be raised by Subordinated Creditors to any such financing so long as (i)&nbsp;the aggregate
principal amount of loans and letter of credit accommodations outstanding under such post-petition financing, together with the
aggregate principal amount of the pre-petition Senior Facility Debt, shall not exceed the Maximum Senior Facility Debt, and (ii)&nbsp;as
between Senior Creditors, on the one hand, and Subordinated Creditors, on the other hand, such financing or use of cash collateral
is subject to the terms of this Subordination and Intercreditor Agreement. Subordinate Agent, on behalf of itself and the Subordinated
Creditors, agrees that none of them shall contest (or support any other Person contesting) (A) any request by the Senior Agent
or the Senior Creditors for adequate protection, or (B) any objection by the Senior Agent or the Senior Creditors to any motion,
relief, action or proceeding based on the Senior Agent or the Senior Creditors claiming a lack of adequate protection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Section&nbsp;5.6, notice of a proposed financing or use of cash collateral shall be deemed given when given in
accordance with Section&nbsp;5.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments
to Senior Facility Loan Documents.</I> Nothing contained in this Subordination and Intercreditor Agreement, or in any other agreement
or instrument binding upon any of the parties hereto, shall in any manner limit or restrict the ability of Senior Creditors from
increasing or changing the terms of the loans under the Senior Facility Loan Documents, or to otherwise waive, amend or modify
any of the terms and conditions of such Senior Facility Loan Documents, in such manner as Senior Creditors and the Obligors shall
mutually determine; <I>provided</I> that no such amendment shall (a) add any express prohibition on the (i)&nbsp;payment of the
Subordinated Indebtedness or (ii)&nbsp;amendment of the Subordinated Loan Documents, in each instance in (i)&nbsp;and (ii), which
is more restrictive than those contained herein, (b) increase the principal amount or amount of amortization payments, or shorten
the maturity of, any indebtedness or other obligations under the Senior Facility Loan Documents (other than in each case in connection
with an acceleration of the Senior Facility Debt), (c) increase, by any amount, the interest rate margins with respect to the
Senior Facility Debt by an amount exceeding two percent (2.0%) above that in effect under the Senior Facility Loan Documents in
effect on the date hereof (excluding, for the avoidance of doubt, the imposition of the default rate provided for in the Senior
Facility Loan Documents on the Closing Date), (d) add or make more restrictive any event of default or any covenant contained
in the Senior Facility Loan Documents, unless the Subordinated Creditors have the opportunity to make corresponding changes to
the Subordinated Loan Documents to provide for such additional covenants or events of default or such more restrictive covenants
or events of default, as the case may be, so long as, in each case, any applicable cushion is maintained (determined on a percentage
basis based on the relevant levels under the Senior Facility Loan Documents and the Subordinated Loan Documents on the date hereof),
(e) subordinate in right of payment any of, or Lien securing, the Senior Facility Debt prior to any Insolvency Proceeding, except
with respect to permitted Liens under the Senior Facility Loan Documents as in effect on the date hereof or (f) modify the provisions
of the Senior Facility Loan Agreement to permit Top Co to purchase, take assignment of, or otherwise acquire any of the Senior
Facility Debt (other than by an Obligor in connection with the retirement of such debt). Subordinated Creditors hereby agree that
no waivers, amendments, modifications or compromises, or any other renewals, extensions, indulgences, releases of collateral or
other accommodations granted by Senior Creditors from time to time in compliance herewith shall in any manner affect or impair
the relative lien priorities and subordination established by this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Amendment of Subordinated Loan Documents.</I> So long as the Senior Facility Loan Agreement remains in effect, none of any Obligor,
Subordinate Agent or Subordinate Agent may enter into any amendment to or modification of any of the Subordinated Loan Documents
without the prior written consent of Senior Agent to the extent that any such amendment or modification (a)&nbsp;increases the
principal amount (beyond the maximum amount specified in the last sentence of the definition of Subordinated Indebtedness) or
amount of amortization payments, or shortens the maturity of, any indebtedness or other obligations under the Subordinated Loan
Documents during the term of the Senior Facility Loan Documents, (b)&nbsp;increases, by any amount, the rate of interest that
is payable in cash on any indebtedness outstanding under the Subordinated Loan Documents during the term of the Senior Facility
Loan Documents, (c)&nbsp;increases the rate of interest which accrues but is not paid in cash on any indebtedness outstanding
under the Subordinated Loan Documents during the term of the Senior Facility Loan Documents by an amount exceeding two percent
(2.0%) above that in effect under the Subordinated Loan Documents on the date hereof (excluding, for the avoidance of doubt, under
both clauses (a) and (c) of this Section&nbsp;5.8, the imposition of the default rate provided for in the Subordinated Loan Documents
on the Closing Date), (d)&nbsp;increases the amount of any fees required to be paid in respect of the indebtedness evidenced by
the Subordinated Loan Documents above the rates or amounts set forth in the Subordinated Credit Agreement as in effect on the
date hereof, (e)&nbsp;modifies (or has the effect of modifying) any mandatory prepayment provision or adds any mandatory prepayment
event under the Subordinated Credit Agreement, or (f)&nbsp;adds or makes more restrictive any event of default or any covenant
contained in the Subordinated Loan Documents unless a corresponding change is made to the Senior Facility Loan Documents (subject
to any applicable cushions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notices.
</I>All notices, requests and demands to or upon the respective parties hereto shall be in writing and shall be deemed duly given,
made or received: if delivered in person, immediately upon delivery; or, if delivered by nationally recognized overnight courier
service with instructions to deliver the next Business Day (with such service&rsquo;s fees paid by sender), immediately upon delivery,
addressed to the parties at their addresses set forth below (or to such other addresses as the parties may designate in accordance
with the provisions of this Section&nbsp;5.9); <I>provided</I>, <I>however</I>, if any notice is tendered to an addressee and
delivery thereof is refused by such addressee, such notice shall be effective upon such tender unless otherwise expressly set
forth in such notice:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To Senior Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fifth Third Bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fifth Third Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">38 Fountain Square Plaza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Cincinnati, Ohio 45263</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Loan Syndications/Judy Huls</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone No: (513) 534-4224</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile No: (513) 534-0875</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To Subordinate Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Alcentra Capital Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">200 Park Avenue, 7th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, NY 10166</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Branko Krmpotic</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone No.: (212) 922-8071</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: <U>branko.krmpotic@alcentra.com</U>; <U>mmreporting@alcentra.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Either Senior Agent or Subordinate Agent
may change the address(es) to which all notices, requests and other communications are to be sent by giving written notice of such
address change to the other party in conformity with this Section&nbsp;5.9, but such change shall not be effective until notice
of such change has been received by the other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severability.
</I>If any provision herein shall for any reason be held invalid or unenforceable, no other provision shall be affected thereby,
and this Subordination and Intercreditor Agreement shall be construed as if the invalid or unenforceable provision had never been
a part of it, and the affected provision shall be modified to the minimum extent permitted by applicable law so as to achieve
most fully the intention of this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counterparts;
Faxes.</I> This Subordination and Intercreditor Agreement may be executed in any number of counterparts, each of which shall be
deemed an original with the same force and effect as if the signatures thereto and hereto were upon the same instrument. A signature
hereto sent or delivered by facsimile or other electronic transmission shall be as legally binding and enforceable as a signed
original for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governing
Law.</I> <FONT STYLE="font-variant: small-caps">This Subordination and Intercreditor Agreement and any claims, controversy, dispute,
or cause of action (whether in contract or tort or otherwise) based on, arising out of, or relating to this Subordination and
Intercreditor Agreement shall be governed by, and construed in accordance with, the law of the State of New York, without regard
to conflicts of law provisions (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consent
to Jurisdiction; Waiver of Venue; Waiver of Jury Trial.</I> (a) Each party hereto irrevocably and unconditionally agrees that it
will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract
or in tort or otherwise, against any other party hereto in any way relating to this Subordination and Intercreditor Agreement,
in each case in any forum other than the courts of the State of the New York sitting in New York County, and of the United States
District Court for the Southern District of New York, and any appellate court from any thereof, and each of the parties hereto
irrevocably and unconditionally submits to the non-exclusive jurisdiction of such courts and agrees that all claims in respect
of any such action, litigation or proceeding may be heard and determined in such New York State court or, to the fullest extent
permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action,
litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">(</FONT>b<FONT STYLE="font-variant: small-caps">)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
party hereto irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that it may
now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to the Subordination and Intercreditor
Agreement in any court referred to above. Each of the Parties hereto hereby irrevocably waives, to the fullest extent permitted
by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">(</FONT>c<FONT STYLE="font-variant: small-caps">)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any right it may have to a trial by
jury in any legal proceeding directly or indirectly arising out of or relating to this Subordination and Intercreditor Agreement
(whether based on contract, tort or any other theory). Each party hereto (I)&nbsp;certifies that no representative, agent or attorney
of any other person has represented, expressly or otherwise, that such other person would not, in the event of litigation, seek
to enforce the foregoing waiver and (II)&nbsp;acknowledges that it and the other parties hereto have been induced to enter into
this Subordination and Intercreditor Agreement by, among other things, the mutual waivers and certifications in this Section.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Complete
Agreement. </I>This written Subordination and Intercreditor Agreement is intended by the parties as a final expression of their
agreement and is intended as a complete statement of the terms and conditions of their agreement with respect to the subject matter
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Third Parties Benefited. </I>Except as expressly provided in Section&nbsp;5.4, this Subordination and Intercreditor Agreement
is solely for the benefit of Senior Agent, Senior Creditors, Subordinate Agent and Subordinated Lenders and their respective successors,
participants and assigns, and no other Person (including any Borrower, any Obligor or any of their respective creditors) shall
have or be entitled to assert rights or benefits hereunder shall have any right, benefit, priority or interest under, or because
of the existence of, this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosures;
Non-Reliance. </I>Each of Senior Agent (on behalf of itself and the Senior Creditors) and Subordinate Agent (on behalf of itself
and the Subordinated Lenders) has the means to, and in the future intends to, remain fully informed as to the financial condition
and other affairs of the Obligors and neither party shall have any obligation or duty to disclose any such information to the
other party. Except as expressly set forth in this Subordination and Intercreditor Agreement, the parties hereto have not otherwise
made to each other nor do they hereby make to each other any warranties, express or implied, nor do they assume any liability
to each other with respect to: (a)&nbsp;the enforceability, validity, value or collectability of any of the Subordinated Indebtedness
or the Senior Facility Debt or any guarantee or security which may have been granted to any of them in connection therewith, (b)&nbsp;any
Obligor&rsquo;s title to or right to transfer any of the Collateral, or (c)&nbsp;any other matter except as expressly set forth
in this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term.
</I>This Subordination and Intercreditor Agreement is a continuing agreement and shall remain in full force and effect until the
Senior Facility Debt is Paid In Full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further
Assurances. </I>Senior Agent and Subordinate Agent at any time, and from time to time, after the execution and delivery of this
Subordination and Intercreditor Agreement, upon the reasonable request of the other party hereto and at the expense of Borrower,
promptly will execute and deliver such further documents and do such further acts and things as such requesting party reasonably
may request in order to effect fully the purposes of this Subordination and Intercreditor Agreement. Time for the performance
of all obligations hereunder is of the essence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative
Remedies. </I>Each and every right, remedy and power granted hereunder shall be cumulative and in addition to any other right,
remedy or power specifically granted herein, in the Senior Facility Loan Documents or in the Subordinated Loan Documents or now
or hereafter existing in equity, at law, by virtue of statute or otherwise, and may be exercised, from time to time, concurrently
or independently and as often and in such order as the party exercising such right may deem expedient, all subject to and in accordance
with this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Review
with Counsel. </I>Each of the parties hereto acknowledges that (a)&nbsp;it has thoroughly read and reviewed the terms and provisions
of this Subordination and Intercreditor Agreement, (b)&nbsp;such terms and provisions are clearly understood by such party, and
(c)&nbsp;this Subordination and Intercreditor Agreement has been fully and unconditionally consented to by such party with the
full benefit and advice of counsel chosen by such party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase
Right. </I>(a) Senior Agent, on behalf of itself and the Senior Creditors, agrees that, at any time following the occurrence of
a Triggering Event, Subordinate Agent shall have the right and option to purchase the entire (but not less than the entire) aggregate
amount of outstanding Senior Facility Debt (including unfunded commitments) at par without regard to any prepayment penalty or
premium, plus, to the extent not included in the definition of &ldquo;Senior Facility Debt,&rdquo; (i)&nbsp;accrued interest,
fees and expenses and (ii)&nbsp;the provision of cash collateral in an amount equal to the undrawn amount of all outstanding letters
of credit and similar instruments issued under the Senior Loan Facility Documents and the prepayment of letter of credit or similar
fees to accrue through expiration of all such letters of credit and similar instruments, without warranty or representation or
recourse other than that each Senior Lender shall represent and warrant (x)&nbsp;the amount shown in its books and records as
the amount owing to it with respect to the Senior Facility Debt, (y)&nbsp;that its owns, or has the right to transfer to the participating
Subordinated Lenders, the rights being transferred and such transfer will be free and clear of liens, and (z)&nbsp;that it has
the right to assign such Senior Facility Debt, and that such assignment has been duly authorized. Each Obligor shall be deemed
to consent to any such assignment notwithstanding anything to the contrary contained in the Senior Facility Debt Documents. Each
Subordinated Lender that elects to exercise such option shall have the option to purchase up to such Subordinated Lender&rsquo;s
pro rata share of the Senior Facility Debt (such pro rata share being based on the principal amount of Subordinated Indebtedness
held by Subordinated Creditors participating in such purchase, with each Subordinated Lender&rsquo;s right to purchase being automatically
proportionately increased by the amount not purchased by another Subordinated Lender).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the date specified by the participating Subordinated Creditor in such notice (which shall not be more than three (3) Business Days
after the receipt by Senior Agent of such notice), Senior Lenders shall sell to the participating Subordinated Creditor, and the
participating Subordinated Creditor shall purchase from Senior Lenders, the entire Senior Facility Debt. Upon consummation of the
purchase and sale, notwithstanding anything contained in the Senior Facility Loan Documents to the contrary, Senior Agent shall
have the right, but not the obligation, to immediately resign as agent under the Senior Facility Loan Documents, and the participating
Subordinated Creditor shall have the right, but not the obligation, to require the Senior Agent to immediately resign as agent
under the Senior Facility Loan Documents, and Senior Agent shall cooperate, at the expense of Borrower, with the successor agent
in the orderly transition of the agency functions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">In
Witness Whereof,</FONT> the parties have caused this Subordination and Intercreditor Agreement to be duly executed as of the day
and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 245.5pt; text-indent: -11.5pt"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-variant: small-caps">Fifth Third Bank, </FONT>as Senior Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 47%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-decoration: none; text-indent: 0in">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name: David L. Mistic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Vice President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Alcentra Capital Corporation</FONT>, as Subordinate Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in">By: Alcentra NY LLC, as Advisor to Alcentra Capital Corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-decoration: none; text-indent: 0in">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/Branko Krmpotic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name: Branko Krmpotic</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Senior Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Signature Page to Subordination and Intercreditor
Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, each of the undersigned hereby acknowledges
and agrees to the foregoing terms and provisions of the Subordination and Intercreditor Agreement. By its signature below, each
of the undersigned agrees that it will, together with its successors and assigns, be bound by the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the undersigned
acknowledges and agrees that: (i) although it may sign this Subordination and Intercreditor Agreement it is not a party hereto
and does not and will not receive any right, benefit, priority or interest under or because of the existence of this Subordination
and Intercreditor Agreement, and (ii) it shall promptly execute and deliver such additional documents and take such additional
action as may be necessary or desirable in the reasonable opinion of either Senior Agent or Subordinate Agent to effectuate the
provisions and purposes of this Subordination and Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Acknowledgment to Subordination and Intercreditor
Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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<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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Borrower</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="width: 47%; padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">Title Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Guarantors</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Limbach Holdings LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">By </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">Title Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Limbach Company LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">Title Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Harper Limbach LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Title Executive Vice President and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Limbach Company LP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Title Executive Vice President, Chief Financial Officer and Treasurer</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; text-align: center">Signature Page to Subordination and Intercreditor
Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: -0.1in"><FONT STYLE="font-variant: small-caps">Harper
Limbach Construction LLC</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-left: 0.1in; text-indent: -0.1in">By</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-left: 0.1in; text-indent: -0.1in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Name John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Title Executive Vice President and Treasurer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Signature Page to Subordination and Intercreditor
Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>10
<FILENAME>v444860_ex10-8.htm
<DESCRIPTION>REGISTRATION RIGHTS AGREEMENT, DATED AS OF JULY 20, 2016, BY AND BETWEEN THE COMPANY AND ALCENTRA CAPITAL CORPORATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>REGISTRATION
RIGHTS AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>REGISTRATION RIGHTS
AGREEMENT</B> (this <B><I>&ldquo;Agreement&rdquo;</I></B>), dated as of July 20, 2016, by and between <B>LIMBACH HOLDINGS, INC.,
</B>a Delaware corporation (the <I>&ldquo;<B>Company</B>&rdquo;</I>), and <B>ALCENTRA CAPITAL CORPORATION</B>, a Maryland corporation
(together with its permitted assigns, the <B><I>&ldquo;Holder&rdquo;</I></B>). Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the Loan Agreement by and between certain subsidiaries of the Company
and the Holder as Agent, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time,
the <B><I>&ldquo;Loan Agreement&rdquo;</I></B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;<B>WHEREAS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&#9;Upon the terms
and subject to the conditions of the Loan Agreement, the Company may, pursuant to Section 2.4 of the Loan Agreement, issue to the
Holder shares of the Company&rsquo;s common stock (the <B><I>&ldquo;Common Stock&rdquo;</I></B> and such issued shares, the <B><I>&ldquo;Conversion
Shares&rdquo;</I></B>); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&#9;To induce the
Holder to enter into the Loan Agreement, the Company has agreed to provide certain registration rights under the Securities Act
of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the <B><I>&ldquo;1933
Act&rdquo;</I></B>), and applicable state securities laws<FONT STYLE="color: red">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,</B>
in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Holder hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>DEFINITIONS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As used in this Agreement,
the following terms shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;<B><I>&ldquo;Person&rdquo;</I></B>
means any person or entity including any corporation, a limited liability company, an association, a partnership, an organization,
a business, an individual, a governmental or political subdivision thereof or a governmental agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;<I>&ldquo;<B>Register</B>,&rdquo;
&ldquo;<B>registered</B>,&rdquo;</I> and <I>&ldquo;<B>registration</B>&rdquo;</I> refer to a registration effected by preparing
and filing one or more registration statements of the Company in compliance with the 1933 Act and pursuant to Rule 415 under the
1933 Act or any successor rule providing for offering securities on a continuous basis (<I>&ldquo;<B>Rule 415</B>&rdquo;</I>),
and the declaration or ordering of effectiveness of such registration statement(s) by the U.S. Securities and Exchange Commission
(the <B><I>&ldquo;SEC&rdquo;</I></B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;<B><I>&ldquo;Registrable
Securities&rdquo;</I></B> means all of the Conversion Shares and any shares of capital stock issued or issuable with respect to
the Conversion Shares as a result of any stock split, stock dividend, recapitalization, exchange or similar event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&#9;<B><I>&ldquo;Registration
Statement&rdquo;</I></B> means a registration statement of the Company covering the sale of the Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.</B></TD><TD STYLE="text-align: justify"><B>REGISTRATION.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;<U>Demand Registration</U>.
Upon issuance of the Conversion Shares, Holder shall have the right, until the earlier of (i) one hundred-eighty (180) days following
the Holder&rsquo;s election to accept Conversion Shares (subject to the Company&rsquo;s rights under Section 2.4 of the Loan Agreement),
(ii) the date as of which the Holder may sell all of the Registrable Securities without restriction pursuant to Rule 144 promulgated
under the 1933 Act or (iii) the date on which the Holder shall have sold all the Registrable Securities (the <B><I>&ldquo;Registration
Period&rdquo;</I></B>), to cause the Company to register all, but not less than all, the Registrable Securities (a <B><I>&ldquo;Demand
Registration&rdquo;</I></B>). The Company shall, upon thirty (30) Business Days from the date of written notice of a Demand Registration,
file with the SEC the Registration Statement. The Holder and its counsel shall have a reasonable opportunity to review and comment
upon such Registration Statement or any amendment to such Registration Statement and any related prospectus prior to its filing
with the SEC. Holder shall furnish all information reasonably requested by the Company for inclusion therein. The Company shall
use its commercially reasonable efforts to have the Registration Statement or any amendment declared effective by the SEC as soon
as practicable. Subject to Section 4(e), the Company shall use commercially reasonable efforts to keep the Registration Statement
effective pursuant to Rule 415 promulgated under the 1933 Act and available for sales of all of the Registrable Securities at all
times until the end of the Registration Period. The Registration Statement (including any amendments or supplements thereto and
prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein, or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;<U>Rule 424 Prospectus</U>.
In the event of a Demand Registration, the Company shall, as required by applicable securities regulations, from time to time file
with the SEC, pursuant to Rule 424 promulgated under the 1933 Act, a prospectus and prospectus supplements, if any, to be used
in connection with sales of the Registrable Securities under the Registration Statement. The Holder and its counsel shall have
two (2) Business Days to review and comment upon such prospectus prior to its filing with the SEC. The Holder shall use its commercially
reasonable efforts to comment upon such prospectus within two (2) Business Days from the date the Holder receives the final version
of such prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>PIGGYBACK REGISTRATION.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;<U>Piggyback
Rights</U>. In the event Conversion Shares are issued and the Holder has not exercised a Demand Registration, during the Registration
Period (and only during the Registration Period), the Company shall notify the Holder in writing at least thirty (30) days prior
to the filing of any registration statement under the Securities Act covering the sale of the Company&rsquo;s securities to the
public, whether for its own account or for the account of other security holders or both and will afford to the Holder an opportunity
to include in such registration statement all or part of the Registrable Securities. If the Holder desires to include in any such
registration statement all or any part of the Registrable Securities it shall, within twenty (20) days after the Holder receives
the above-described notice from the Company, so notify the Company in writing, and the Company shall use its commercially reasonable
efforts to cause the Registrable Securities so requested by the Holder to be included in such registration statement. Such notice
shall state the intended method of disposition of the Registrable Securities by the Holder. If the Holder decides not to include
all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless
continue to have the right, during the Registration Period, to include any Registrable Securities in any subsequent registration
statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms
and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.<B>&#9;</B><U>Underwriting</U>.
If the registration statement under which the Company gives notice under this Section&nbsp;3(b) is for an underwritten offering,
the Company shall so advise the Holder. In such event, the right of the Holder to include its Registrable Securities in a registration
pursuant to this Section&nbsp;3(b) shall be conditioned upon such Holder&rsquo;s participation in such underwriting and the inclusion
of the Holder&rsquo;s Registrable Securities in the underwriting to the extent provided herein. If the Holder proposes to distribute
its Registrable Securities through such underwriting, it shall enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by the Company. Notwithstanding any other provision of this Agreement,
if the managing underwriter or underwriters determine in good faith that the proposed number of securities to be underwritten would
adversely affect the marketing of such securities, then the number of shares that may be included in the underwriting shall be
allocated, first, to the Company; second, to the Holder (on a <I>pro rata</I> basis based on the total number of Registrable Securities
held by the Holders&rsquo; permitted assigns); and third, to any stockholder of the Company (other than the Holder) on a <I>pro
rata</I> basis. No such reduction shall reduce the amount of Registrable Securities of the Holder included in the registration
below thirty percent (30%) of the total amount of securities included in such registration. In no event will shares of any other
selling stockholder be included in such registration that would reduce the number of shares which may be included by the Holder
without the written consent of the Holder. If the Holder disapproves of the terms of any such underwriting, the Holder may elect
to withdraw therefrom by written notice to the Company and the managing underwriter, delivered at least ten (10) Business Days
prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting
shall be excluded and withdrawn from the registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;<U>Withdrawal</U>.
The Company shall have the right to terminate or withdraw any registration initiated by it under this Section&nbsp;3 prior to the
effectiveness of such registration, whether or not the Holder has elected to include securities in such registration. The Registration
Expenses of such withdrawn registration shall be borne by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>4.</B></TD><TD STYLE="text-align: justify"><B>RELATED OBLIGATIONS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event that the
Company subsidiaries party to the Loan Agreement are unable to satisfy their obligations under Section 2.4(b) of the Loan Agreement
in cash, the Company hereby agrees to issue the Conversion Shares. In addition, with respect to the Registration Statement and
whenever any Registrable Securities are to be registered pursuant to Sections 2 and 3, the Company shall use its commercially reasonable
efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof
and, pursuant thereto, the Company shall have the following obligations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;The Company shall
prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any Registration Statement
and the prospectus used in connection with such Registration Statement, as may be necessary to keep the Registration Statement
effective at all times during the Registration Period, subject to Section 4(e) hereof and, during such period, comply with the
provisions of the 1933 Act with respect to the disposition of all Registrable Securities of the Company covered by the Registration
Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods
of disposition by the seller or sellers thereof as set forth in such Registration Statement. Should the Company file a post-effective
amendment to the Registration Statement, the Company will use its commercially reasonable efforts to have such filing declared
effective by the SEC within twenty (20) consecutive Business Days as of the date of filing, which such period shall be extended
for an additional twenty (20) Business Days if the Company receives a comment letter from the SEC in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;The Company shall
submit to the Holder for review and comment any disclosure in the Registration Statement and all amendments and supplements thereto
(other than prospectus supplements that consist only of a copy of a filed Form 10-Q or a Current Report on Form 8-K) containing
information provided by the Holder for inclusion in such document and any descriptions or disclosure regarding the Holder or this
Agreement at least two (2) Business Days prior to their filing with the SEC, and not file any document in a form to which the Holder
reasonably and timely objects. Upon request of the Holder, the Company shall provide to the Holder all disclosure in the Registration
Statement and all amendments and supplements thereto (other than prospectus supplements that consist only of a copy of a filed
Form 10-Q or Current Report on Form 8-K) at least one (1) Business Day prior to their filing with the SEC, and not file any document
in a form to which Holder reasonably and timely objects, which consent shall not be unreasonably withheld, conditioned or delayed<FONT STYLE="color: red">.
</FONT> The Holder shall use its commercially reasonable efforts to comment upon the Registration Statement and any amendments
or supplements thereto within two (2) Business Days from the date the Holder receives the final version thereof. The Company shall
furnish to the Holder, without charge, any correspondence from the SEC or the staff of the SEC to the Company or its representatives
relating to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;Upon request of
the Holder, the Company shall furnish to the Holder, (i) promptly after the same is prepared and filed with the SEC, at least one
copy of the Registration Statement and any amendment(s) thereto, including financial statements and schedules, all documents incorporated
therein by reference and all exhibits, (ii) upon the effectiveness of a Registration Statement, a copy of the prospectus included
in such Registration Statement and all amendments and supplements thereto (or such other number of copies as the Holder may reasonably
request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Holder may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&#9;The Company shall
use commercially reasonable efforts to (i) register and qualify, unless an exemption from registration and qualification is available,
the Registrable Securities covered by a Registration Statement under such other securities or &ldquo;blue sky&rdquo; laws of such
jurisdictions in the United States as the Holder reasonably requests, (ii) prepare and file in those jurisdictions, such amendments
(including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain
the effectiveness thereof during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations
and qualifications in effect at all times during the Registration Period, and (iv) take all other actions reasonably necessary
or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not
be required in connection therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where it would
not otherwise be required to qualify but for this Section 4(d), (y) subject itself to general taxation in any such jurisdiction,
or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify the Holder who
holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the registration
or qualification of any of the Registrable Securities for sale under the securities or &ldquo;blue sky&rdquo; laws of any jurisdiction
in the United States or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">e.&#9;As promptly as
practicable after becoming aware of such event or facts, the Company shall notify the Holder in writing if the Company has determined
that the prospectus included in any Registration Statement, as then in effect, includes an untrue statement of a material fact
or omits to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading, and promptly prepare a prospectus supplement or amendment to such Registration Statement
to correct such untrue statement or omission, and, upon the Holder&rsquo;s request, deliver a copy of such prospectus supplement
or amendment to the Holder. In providing this notice to the Holder, the Company shall not include any other information about the
facts underlying the Company&rsquo;s determination and shall not in any way communicate any material nonpublic information about
the Company or the Common Stock to the Holder. The Company shall also promptly notify the Holder in writing (i) when a prospectus
or any prospectus supplement or post-effective amendment has been filed, and when a Registration Statement or any post-effective
amendment has become effective (notification of such effectiveness shall be delivered to the Holder by facsimile or e-mail on the
same day of such effectiveness), (ii) of any request by the SEC for amendments or supplements to any Registration Statement or
related prospectus or related information, and (iii) of the Company&rsquo;s reasonable determination that a post-effective amendment
to a Registration Statement would be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">f.&#9;The Company shall
use its commercially reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness of any Registration
Statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such an order
or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest practical time and to notify the
Holder of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of
any proceeding for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">g.&#9;The Company shall
(i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules
of such exchange, or (ii) secure designation and quotation of all the Registrable Securities if the Company&rsquo;s principal trading
market is an automated quotation system. The Company shall pay all fees and expenses in connection with satisfying its obligation
under this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">h.&#9;The Company shall
cooperate with the Holder to facilitate the timely preparation and delivery of certificates or book entry shares (not bearing any
restrictive legend) representing the Registrable Securities to be offered pursuant to any Registration Statement and enable such
certificates to be in such denominations or amounts as the Holder may reasonably request and registered in such names as the Holder
may request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">i.&#9;The Company shall
at all times provide a transfer agent and registrar with respect to its Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">j.&#9;If reasonably requested
by the Holder, the Company shall (i) promptly incorporate in a prospectus supplement or post-effective amendment to the Registration
Statement such information as the Holder believes should be included therein relating to the sale and distribution of Registrable
Securities, including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase
price being paid therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of
such prospectus supplement or post-effective amendment promptly after being notified of the matters to be incorporated in such
prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">k.&#9;The Company shall
use its commercially reasonable efforts to cause the Registrable Securities covered by any Registration Statement to be registered
with or approved by such other governmental agencies or authorities in the United States as may be necessary to consummate the
disposition of such Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: Black">l.&#9;Within
one (1) Business Day after any Registration Statement is ordered effective by the SEC, the Company shall deliver, and shall cause
legal counsel for the Company to deliver, to the Transfer Agent for such Registrable Securities (with copies to the Holder) confirmation
that such Registration Statement has been declared effective by the SEC. Thereafter, if reasonably requested by the Holder at
any time, the Company shall require its counsel to deliver to the Holder a written confirmation of whether or not the effectiveness
of such Registration Statement has lapsed at any time for any reason (including, without limitation, the issuance of a stop order)
and whether or not the Registration Statement is current and available to the Holder for sale of all of the Registrable Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">m.&#9;The Company agrees
to take all other reasonable actions as necessary and requested by the Holder to expedite and facilitate disposition by the Holder
of Registrable Securities pursuant to any Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>5.</B></TD><TD STYLE="text-align: justify"><B>OBLIGATIONS OF THE HOLDER.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;The Holder will
furnish to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition
of the Registrable Securities held by it as required to effect the registration of such Registrable Securities and shall execute
such documents in connection with such registration as the Company may reasonably request. The Company shall notify the Holder
in writing of any other information the Company reasonably requires from the Holder in connection with any Registration Statement
hereunder. The Holder will as promptly as practicable notify the Company of any material change in the information provided to
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;The Holder agrees
to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any amendments
and supplements to any Registration Statement hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;The Holder agrees
that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind described in
Section 4(f) or any notice of the kind described in the first sentence of 4(e), the Holder will immediately discontinue disposition
of Registrable Securities pursuant to any registration statement(s) covering such Registrable Securities until the Holder&rsquo;s
receipt (which may be accomplished through electronic delivery) of the copies of the filed supplemented or amended prospectus contemplated
by Section 4(f) or the first sentence of 4(e). In addition, upon receipt of any notice from the Company of the kind described in
the first sentence of Section 4(e), the Holder will immediately discontinue purchases or sales of any securities of the Company
unless such purchases or sales are in compliance with applicable U.S. securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>6.</B></TD><TD STYLE="text-align: justify"><B>EXPENSES OF REGISTRATION.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">All reasonable expenses
of the Company, other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications
pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>7.</B></TD><TD STYLE="text-align: justify"><B>INDEMNIFICATION.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;To the fullest
extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Holder, each Person, if any,
who controls the Holder, the members, the directors, officers, partners, employees, agents, representatives of the Holder and each
Person, if any, who controls the Holder within the meaning of the 1933 Act or the Securities Exchange Act of 1934, as amended (the
<B><I>&ldquo;1934 Act&rdquo;</I></B>) (each, an <B><I>&ldquo;Indemnified Person&rdquo;</I></B>), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys&rsquo; fees, amounts paid in settlement (with the
consent of the Company, such consent not to be unreasonably withheld) or reasonable expenses, (collectively, <B><I>&ldquo;Claims&rdquo;</I></B>)
reasonably incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal
taken from the foregoing by or before any court or governmental, administrative or other regulatory agency or body or the SEC,
whether pending or threatened, whether or not an indemnified party is or may be a party thereto (<B><I>&ldquo;Indemnified Damages&rdquo;</I></B>),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in the
Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification of the
offering under the securities or other &ldquo;blue sky&rdquo; laws of any jurisdiction in which Registrable Securities are offered
(<B><I>&ldquo;Blue Sky Filing&rdquo;</I></B>), or the omission or alleged omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a
material fact contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement
thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made
therein, in light of the circumstances under which the statements therein were made, not misleading, or (iii) any violation or
alleged violation by the Company of the 1933 Act, the 1934 Act, any other law, including, without limitation, any state securities
law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant to the Registration
Statement (the matters in the foregoing clauses (i) through (iii) being, collectively, <B><I>&ldquo;Violations&rdquo;</I></B>).
The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable
legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 7(a): (A) shall not apply to
a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with
information furnished in writing to the Company by such Indemnified Person expressly for use in connection with the preparation
of the Registration Statement, or any such amendment thereof or supplement thereto, if such prospectus was timely made available
by the Company; (B) with respect to any superseded prospectus, shall not inure to the benefit of any such person from whom the
person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any other
Indemnified Person) if the untrue statement or omission of material fact contained in the superseded prospectus was corrected in
the revised prospectus, as then amended or supplemented, if such revised prospectus was timely made available by the Company pursuant
to Section 4(c) or Section 4(e), and the Holder was promptly advised in writing not to use the incorrect prospectus prior to the
use giving rise to a Violation; (C) shall not be available to the extent such Claim is based on a failure of the Holder to deliver
or to cause to be delivered the prospectus made available by the Company, if such prospectus was theretofore made available by
the Company pursuant to Section 4(c) or Section 4(e); and (D) shall not apply to amounts paid in settlement of any Claim if such
settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld. Such
indemnity shall remain in full force and effect and shall survive the transfer of the Registrable Securities by the Holder pursuant
to Section 10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;In connection with
the Registration Statement, the Holder agrees to indemnify, hold harmless and defend, to the same extent and in the same manner
as is set forth in Section 7(a), the Company, each of its directors, each of its officers who signs<B> </B>the Registration Statement,
each Person, if any, who controls the Company within the meaning of the 1933 Act or the 1934 Act (collectively and together with
an Indemnified Person, an &ldquo;<B>Indemnified Party</B>&rdquo;), against any Claim or Indemnified Damages to which any of them
may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or
are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and
in conformity with written information about the Holder set forth on <U>Exhibit B</U> attached hereto or updated from time to time
in writing by the Holder<B> </B>and furnished to the Company by the Holder expressly for use in the Registration Statement from
the failure of the Holder to deliver or to cause to be delivered the prospectus made available by the Company, if such prospectus
was timely made available by the Company pursuant to Section 4(c) or Section 4(e); and, subject to Section 7(d), the Holder will
reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Claim;
provided, however, that the indemnity agreement contained in this Section 7(b) and the agreement with respect to contribution contained
in Section 8 shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Holder, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect and
shall survive the transfer of the Registrable Securities by the Holder pursuant to Section 10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;Promptly after
receipt by an Indemnified Person or Indemnified Party under this Section 7 of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim
in respect thereof is to be made against any indemnifying party under this Section 7, deliver to the indemnifying party a written
notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel
mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be, and upon
such notice, the indemnifying party shall not be liable to the Indemnified Person or Indemnified Party for any legal or other expenses
subsequently incurred by the Indemnified Person or Party in connection with the defense thereof; provided, however, that an Indemnified
Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses to be paid by the indemnifying
party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified
Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing interests between
such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding. The Indemnified
Party or Indemnified Person shall cooperate with the indemnifying party in connection with any negotiation or defense of any such
action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the
Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified
Party or Indemnified Person fully apprised as to the status of the defense or any settlement negotiations with respect thereto.
No indemnifying party shall be liable for any settlement of any action, claim or proceeding affected without its written consent,
provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying
party shall, without the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into
any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff
to such Indemnified Party or Indemnified Person of a release from all liability in respect to such claim or litigation. Following
indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or
Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which indemnification has
been made. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any
such action shall not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party under this
Section 7, except to the extent that the indemnifying party is prejudiced in its ability to defend such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&#9;The indemnification
required by this Section 7 shall be made by periodic payments of the amount thereof during the course of the investigation or defense,
as and when bills are received or Indemnified Damages are incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">e.&#9;The indemnity agreements
contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person
against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>CONTRIBUTION.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 7 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
1933 Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>9.</B></TD><TD STYLE="text-align: justify"><B>REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">With a view to making
available to the Holder the benefits of Rule 144 promulgated under the 1933 Act or any other similar rule or regulation of the
SEC that may at any time permit the Holder to sell securities of the Company to the public without registration (<B><I>&ldquo;Rule
144&rdquo;</I></B>), the Company agrees, at the Company&rsquo;s sole expense, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;make and keep public
information available, as those terms are understood and defined in Rule 144;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;file with the SEC
in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934 Act so long as the Company
remains subject to such requirements and the filing of such reports and other documents is required to satisfy the current public
information requirements of Rule 144; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;furnish to the
Holder so long as the Holder owns Registrable Securities, as promptly as practicable at Holder&rsquo;s request, (i) a written statement
by the Company that it has complied in all material respects with the requirements of Rule 144(c)(1)(i) and (ii), and (ii) such
other information, if any, as may be reasonably requested to permit the Holder to sell such securities pursuant to Rule 144 without
registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&#9;take such additional action as
is requested by the Holder to enable the Holder to sell the Registrable Securities pursuant to Rule 144, including, without limitation,
delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company&rsquo;s Transfer Agent
as may be reasonably requested from time to time by the Holder and otherwise fully cooperate with the Holder and the Holder&rsquo;s
broker to effect such sale of securities pursuant to Rule 144.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company agrees
that damages may be an inadequate remedy for any breach of the terms and provisions of this Section 9 and that Investor shall,
whether or not it is pursuing any remedies at law, be entitled to seek, at its sole cost and expense, equitable relief in the form
of a preliminary or permanent injunctions, upon any breach or threatened breach of any such terms or provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>10.</B></TD><TD STYLE="text-align: justify"><B>ASSIGNMENT OF REGISTRATION RIGHTS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company shall not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Holder. The Holder may not
assign its rights under this Agreement to any party that other than such entities or their affiliates as are parties to the Loan
Agreement without the prior written consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>11.</B></TD><TD STYLE="text-align: justify"><B>AMENDMENT OF REGISTRATION RIGHTS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Provisions of this Agreement
may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively
or prospectively) only with the written consent of the Company and the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>12.</B></TD><TD STYLE="text-align: justify"><B>MISCELLANEOUS.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&#9;Any notices, consents,
waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will
be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one (1)
Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party
to receive the same. The addresses and facsimile numbers for such communications shall be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Limbach Holdings, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">13261 Mid Atlantic Blvd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Laurel, MD 20708</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Telephone: &#9;(301) 623-4799</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Facsimile: &#9;(412) 359-2287</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Attention: &#9;John T. Jordan,
Jr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With a copy (which
shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Honigman
Miller Schwartz and Cohn LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">2290 First
National Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">660 Woodward
Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Detroit,
Michigan 48226</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Telephone:
&#9;(313) 465-7456</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Facsimile:&#9;(313)
465-7457</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Attention:&#9;Joshua
F. Opperer, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If to the Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Alcentra Capital Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">200 Park Avenue, 7<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10166</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Telephone:&#9;(212) 922-8071</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attention:&#9;Branko
Krmpotic</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">E-mail: branko.krmpotic@alcentra.com;
mmreporting@alcentra.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With a copy (which
shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Smith, Anderson, Blount,
Dorsett, Mitchell &amp; Jernigan, L.L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Wells Fargo Capitol Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">150 Fayetteville Street,
Suite 2300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">P.O. Box 2611</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Raleigh, NC 27602</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Telephone: (919) 821-6658</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attention: Anne E. Croteau</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">E-mail: acroteau@smithlaw.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically
or electronically generated by the sender&rsquo;s facsimile machine containing the time, date, recipient facsimile number and an
image of the first page of such transmission or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively. Any party to this Agreement may give any notice or other communication hereunder
using any other means (including messenger service, ordinary mail or electronic mail), but no such notice or other communication
shall be deemed to have been duly given unless it actually is received by the party for whom it is intended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&#9;No failure or delay
in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&#9;This Agreement
shall be governed by Delaware law in all respects. <B>EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT
TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&#9;This Agreement
and the Loan Agreement constitute the entire understanding among the parties hereto with respect to the subject matter hereof and
thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and
therein. This Agreement<B> </B>and the Loan Agreement supersede all other prior oral or written agreements between the Holder,
the Company, their affiliates and persons acting on their behalf with respect to the subject matter hereof and thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">e.&#9;Subject to the
requirements of Section 10, this Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns
of each of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">f.&#9;The headings in
this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">g.&#9;This Agreement
may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile or pdf (or
other electronic reproduction of a) signature shall be considered due execution and shall be binding upon the signatory thereto
with the same force and effect as if the signature were an original, not a facsimile or pdf (or other electronic reproduction of
a) signature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">h.&#9;Each party shall
do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents as the other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">i.&#9;The language used
in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict
construction will be applied against any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">j.&#9;This Agreement
is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">* * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF,</B> the parties have
caused this Registration Rights Agreement to be duly executed as of day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>THE COMPANY:</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>LIMBACH HOLDINGS, INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 44%; border-bottom: black 1pt solid">/s/John T. Jordan, Jr.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top">John T. Jordan, Jr.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="vertical-align: top">Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>HOLDER:</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; text-transform: uppercase">Alcentra Capital Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">By: Alcentra NY LLC, as Advisor to Alcentra Capital Corporation</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 44%; border-bottom: black 1pt solid">/s/ Branko Krmpotic</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top">Branko Krmpotic</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="vertical-align: top">Senior Vice President</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 211.5pt; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>11
<FILENAME>v444860_ex10-9.htm
<DESCRIPTION>NOTE ISSUED BY LIMBACH FACILITY SERVICES LLC TO ALCENTRA CAPITAL CORPORATION, DATED JULY 20, 2016
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution Version</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS NOTE IS SUBJECT TO THE SUBORDINATION
AND INTERCREDITOR AGREEMENT, DATED AS OF JULY 20, 2016, AMONG THE MAKER OF THIS NOTE, ALCENTRA CAPITAL CORPORATION, AS SUBORDINATE
AGENT AND FIFTH THIRD BANK, AS SENIOR AGENT, UNDER WHICH THIS NOTE AND THE MAKER&rsquo;S OBLIGATIONS HEREUNDER ARE SUBORDINATED
IN THE MANNER SET FORTH THEREIN TO THE PRIOR PAYMENT OF CERTAIN INDEBTEDNESS AND OBLIGATIONS TO THE HOLDERS OF SENIOR FACILITY
DEBT AS DEFINED IN THE SUBORDINATION AND INTERCREDITOR AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></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: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-variant: small-caps">$13,000,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right">July 20, 2016</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">For</FONT>
<FONT STYLE="font-variant: small-caps">Value</FONT> <FONT STYLE="font-variant: small-caps">Received</FONT>, the undersigned, <FONT STYLE="font-variant: small-caps">Limbach
Facility Services LLC</FONT>, a Delaware limited liability company (the <I>&ldquo;Borrower&rdquo;</I>), hereby unconditionally
promises to pay to Alcentra Capital Corporation (the <I>&ldquo;Lender&rdquo;</I>) or its registered assigns at the principal office
of the Lender (or such other location as the Lender may designate to the Borrower), in immediately available funds, the principal
sum of THIRTEEN MILLION DOLLARS ($<FONT STYLE="font-variant: small-caps">13,000,000.00</FONT>) or, if less, the aggregate unpaid
principal amount of the Loan made or maintained by the Lender to the Borrower pursuant to the Loan Agreement (as defined below),
together with interest on the principal amount of such Loan from time to time outstanding hereunder at the rates, and payable in
the manner and on the dates, specified in the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Note (this <I>&ldquo;Note&rdquo;</I>)
is one of the Notes referred to in the Loan Agreement dated as of July 20, 2016, among the Borrower, Limbach Holdings LLC, a Delaware
limited liability company (the <I>&ldquo;Parent&rdquo;</I>), the other Guarantors party thereto, the Lenders party thereto, and
Alcentra Capital Corporation, a Maryland corporation, as Agent (as amended, restated, modified or supplemented from time to time,
the <I>&ldquo;Loan Agreement&rdquo;</I>), and this Note and the holder hereof are entitled to all the benefits and security provided
for thereby or referred to therein, to which Loan Agreement reference is hereby made for a statement thereof. All defined terms
used in this Note, except terms otherwise defined herein, shall have the same meaning as in the Loan Agreement. This Note shall
be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of law provisions
(other than Sections&nbsp;5-1401 and 5-1402 of the New York General Obligations law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voluntary prepayments
may be made hereon, certain prepayments are required to be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided for in the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Borrower hereby
waives demand, presentment, protest or notice of any kind hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Page to Follow]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-variant: small-caps">In
Witness Whereof</FONT>, the Borrower has caused this Note to be duly executed and delivered on the date set forth above by the
duly authorized representative of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&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 NOWRAP>&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP><FONT STYLE="font-variant: small-caps">Limbach Facility Services LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in">By</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-indent: 0in">/s/ John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 45%; text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 3%; text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; text-indent: 0in; padding-bottom: 1pt">Name&nbsp;</TD>
    <TD NOWRAP STYLE="width: 47%; text-indent: 0in; border-bottom: Black 1pt solid">John T. Jordan Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-indent: 0in; padding-bottom: 1pt">Title</TD>
    <TD NOWRAP STYLE="text-indent: 0in; border-bottom: Black 1pt solid">Executive Vice President, Chief Financial Officer and Treasurer</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; text-align: center">[Signature Page to Note]</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>12
<FILENAME>v444860_ex10-10.htm
<DESCRIPTION>STOCKHOLDER LOCKUP AGREEMENT, DATED AS OF JULY 20, 2016, BY AND BETWEEN THE COMPANY AND CHARLES A. BACON, III
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.10</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-align: center"><U>STOCKHOLDER LOCKUP AGREEMENT</U></P>

<P STYLE="font: bold 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: justify; text-indent: 0.5in">This <FONT STYLE="font-variant: small-caps">Lockup
Agreement</FONT> (this &ldquo;<B>Agreement</B>&rdquo;) is made and entered into as of July 20, 2016, by and among 1347 Capital
Corp., a Delaware corporation (&ldquo;<B>1347 Capital</B>&rdquo;) and the person set forth on the signature pages hereto (&ldquo;<B>Stockholder</B>&rdquo;).
Each capitalized term used, but not otherwise defined, herein has the respective meaning ascribed to such term in the Agreement
and Plan of Merger, dated as of March 23, 2016, by and among 1347 Capital, Limbach Holdings LLC (&ldquo;<B>Limbach</B>&rdquo;)
and F<I>d</I>G HVAC LLC, as Limbach Holders&rsquo; Representative (the &ldquo;<B>Merger Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, 1347 Capital
has agreed to issue and deliver to the Limbach Holders, among other things, a certain number of shares of 1347 Common Stock in
consideration for the consummation of the transactions contemplated by the Merger Agreement (&ldquo;<B>Merger Shares</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, 1347 Capital
has agreed that an aggregate of one million (1,000,000) shares of 1347 Common Stock issued to the Limbach Holders as Merger Shares
shall be subject to a lockup agreement (&ldquo;<B>Restricted Shares</B>&rdquo;), of which Stockholder is entitled to receive one
hundred thousand (100,000) shares (the &ldquo;<B>Shares</B>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the execution
and delivery of this Agreement by each recipient of Restricted Shares is a condition precedent to the obligations of 1347 Capital
to consummate the transactions contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the transactions contemplated by the Merger Agreement and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Stockholder and 1347 Capital hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Stockholder hereby acknowledges and agrees that, during the period beginning on the date hereof and ending upon the expiration
of the Lockup Period, Stockholder shall not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of
or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call
equivalent position within the meaning of Section 16 of the Securities Exchange Act with respect to, any portion of the Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any of the Shares, whether any such transaction is to be settled by delivery of Shares or such other securities,
in cash or otherwise; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>publicly announce any intention to effect any transaction specified in clause (a) or (b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used herein, the
term &ldquo;<B>Lockup Period</B>&rdquo; means the period beginning on the Closing Date and (y) with respect to fifty percent (50%)
of the Shares, ending on the earlier of (i) the date that is 365 days following the Closing Date and (ii) the date that the last
sales price of 1347 Common Stock equals or exceeds $12.50 per share (as the same may be adjusted for share splits, share dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least 90
days after the Closing Date; and (z) with respect to other fifty percent (50%) of the Shares, ending on the date that is 365 days
following the Closing Date; <U>provided</U>, that, notwithstanding the foregoing clauses (y) and (z), the Lockup Period shall end
immediately upon the consummation by 1347 Capital of a liquidation, merger, stock exchange or other similar transaction that results
in all of the holders of 1347 Common Stock having the right to exchange their shares of 1347 Common Stock for cash, securities
or other property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding the provisions of paragraph 1 above, Stockholder may transfer any of the Shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by gift or other transfer to a member of a Stockholder&rsquo;s immediate family or to a trust, corporation, partnership
or limited liability company established for estate planning purposes, the beneficiaries, stockholders, partners or members of
which are members of such Stockholder&rsquo;s immediate family or a charitable organization;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by virtue of the applicable Laws upon dissolution of Stockholder, or by virtue of the Laws of descent and distribution upon
the death of Stockholder, as applicable; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to any of its or his Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><U>provided</U>, <U>however</U>,
that all such permitted transferees shall execute and deliver a lockup agreement substantially in the form of this Agreement and
shall be bound by the transfer restrictions contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Stockholder hereby represents and warrants to 1347 Capital that such Stockholder has full power and authority to enter into
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>1347 Capital shall cause each of the certificates evidencing the Shares to be legended with the applicable transfer restrictions.
Stockholder agrees and consents to the entry of stop transfer instructions with transfer agent and registrar against the transfer
of the Shares, except in compliance with this Agreement, and 1347 Capital and its transfer agent are hereby authorized to decline
to make any transfer of securities if such transfer would constitute a violation or breach of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement constitutes the entire agreement among the parties hereto and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement shall be binding upon and inure to the benefit of the parties named herein and their respective successors
and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement and any claim, controversy or dispute arising out of or related to this Agreement or the interpretation and
enforcement of the rights and duties of the parties, whether arising in law or equity, whether in contract, tort, under statute
or otherwise, shall be governed by and construed in accordance with the domestic Laws of the State of New York (including in respect
of the statute of limitations or other limitations period applicable to any such claim, controversy or dispute), without giving
effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would
cause the application of the Laws of any jurisdiction other than the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All notices, requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request, demand,
claim, or other communication hereunder shall be deemed duly given (a) when delivered personally to the recipient, (b) when sent
by electronic mail or facsimile, on the date of transmission to such recipient, (c) one Business Day after being sent to the recipient
by reputable overnight courier service (charges prepaid), or (d) four (4) Business Days after being mailed to the recipient by
certified or registered mail, return receipt requested and postage prepaid, and addressed to the address or facsimile number indicated
on the books and records of 1347 Capital or such other address as a party shall subsequently provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by the parties
hereto and approved in writing by the Audit Committee of the Board of Directors of 1347 Capital. No waiver by any party hereto
of any provision of this Agreement or any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, shall be valid unless the same shall be in writing and signed by the party making such waiver and, in the case of 1347
Capital, approved in writing by the Audit Committee of the Board of Directors of 1347 Capital nor shall such waiver be deemed to
extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way
any rights arising by virtue of any prior or subsequent such occurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each of the parties hereto hereby acknowledge and agree that irreparable damage would occur if any of the provisions of
this Agreement are not performed in accordance with their specific terms and in the event of breach of this Agreement by a party
hereto, the non-breaching party would not be adequately compensated in all cases by monetary damages alone. Accordingly, in addition
to any other right or remedy to which the non-breaching party may be entitled, it shall be entitled to enforce any provision of
this Agreement by a decree of specific performance and to temporary, preliminary and permanent injunctive relief to prevent breaches
or threatened breaches of any of the provisions of this Agreement, without posting any bond or other undertaking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of Law,
or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially
adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated
as originally contemplated to the fullest extent possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement may be executed in one or more counterparts (including by means of electronic mail or facsimile), each of
which shall be deemed an original but all of which together shall constitute one and the same instrument. This Agreement shall
become effective when each party hereto shall have received a counterpart hereof signed by the other parties hereto. The parties
hereto agree that the delivery of this Agreement may be effected by means of an exchange of facsimile signatures or other electronic
delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Pages Follow</I>]</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">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have executed this Stockholder Lockup Agreement on the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Hassan Baqar</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Hassan Baqar</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="font-size: 10pt">Chief Financial Officer</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>STOCKHOLDER:</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Charles A. Bacon III</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Charles A. Bacon III</TD>
    </TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Signature Page to Stockholder Lockup
Agreement</I></P>



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<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>13
<FILENAME>v444860_ex10-11.htm
<DESCRIPTION>STOCKHOLDER LOCKUP AGREEMENT, DATED AS OF JULY 20, 2016, BY AND BETWEEN THE COMPANY AND FDG HVAC LLC
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: right"><B>Exhibit 10.11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>STOCKHOLDER LOCKUP AGREEMENT</U></P>

<P STYLE="font: bold 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: justify; text-indent: 0.5in">This <FONT STYLE="font-variant: small-caps">Lockup
Agreement</FONT> (this &ldquo;<B>Agreement</B>&rdquo;) is made and entered into as of July 20, 2016, by and among 1347 Capital
Corp., a Delaware corporation (&ldquo;<B>1347 Capital</B>&rdquo;) and the person set forth on the signature pages hereto (&ldquo;<B>Stockholder</B>&rdquo;).
Each capitalized term used, but not otherwise defined, herein has the respective meaning ascribed to such term in the Agreement
and Plan of Merger, dated as of March 23, 2016, by and among 1347 Capital, Limbach Holdings LLC (&ldquo;<B>Limbach</B>&rdquo;)
and F<I>d</I>G HVAC LLC, as Limbach Holders&rsquo; Representative (the &ldquo;<B>Merger Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, 1347 Capital
has agreed to issue and deliver to the Limbach Holders, among other things, a certain number of shares of 1347 Common Stock in
consideration for the consummation of the transactions contemplated by the Merger Agreement (&ldquo;<B>Merger Shares</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, 1347 Capital
has agreed that an aggregate of one million (1,000,000) shares of 1347 Common Stock issued to the Limbach Holders as Merger Shares
shall be subject to a lockup agreement (&ldquo;<B>Restricted Shares</B>&rdquo;), of which Stockholder is entitled to receive eight
hundred thousand (800,000) shares (the &ldquo;<B>Shares</B>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the execution
and delivery of this Agreement by each recipient of Restricted Shares is a condition precedent to the obligations of 1347 Capital
to consummate the transactions contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the transactions contemplated by the Merger Agreement and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Stockholder and 1347 Capital hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Stockholder hereby acknowledges and agrees that, during the period beginning on the date hereof and ending upon the expiration
of the Lockup Period, Stockholder shall not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of
or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call
equivalent position within the meaning of Section 16 of the Securities Exchange Act with respect to, any portion of the Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any of the Shares, whether any such transaction is to be settled by delivery of Shares or such other securities,
in cash or otherwise; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>publicly announce any intention to effect any transaction specified in clause (a) or (b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used herein, the
term &ldquo;<B>Lockup Period</B>&rdquo; means the period beginning on the Closing Date and (y) with respect to fifty percent (50%)
of the Shares, ending on the earlier of (i) the date that is 365 days following the Closing Date and (ii) the date that the last
sales price of 1347 Common Stock equals or exceeds $12.50 per share (as the same may be adjusted for share splits, share dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least 90
days after the Closing Date; and (z) with respect to other fifty percent (50%) of the Shares, ending on the date that is 365 days
following the Closing Date; <U>provided</U>, that, notwithstanding the foregoing clauses (y) and (z), the Lockup Period shall end
immediately upon the consummation by 1347 Capital of a liquidation, merger, stock exchange or other similar transaction that results
in all of the holders of 1347 Common Stock having the right to exchange their shares of 1347 Common Stock for cash, securities
or other property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding the provisions of paragraph 1 above, Stockholder may transfer any of the Shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by gift or other transfer to a member of a Stockholder&rsquo;s immediate family or to a trust, corporation, partnership
or limited liability company established for estate planning purposes, the beneficiaries, stockholders, partners or members of
which are members of such Stockholder&rsquo;s immediate family or a charitable organization;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by virtue of the applicable Laws upon dissolution of Stockholder, or by virtue of the Laws of descent and distribution upon
the death of Stockholder, as applicable; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to any of its or his Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><U>provided</U>, <U>however</U>,
that all such permitted transferees shall execute and deliver a lockup agreement substantially in the form of this Agreement and
shall be bound by the transfer restrictions contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Stockholder hereby represents and warrants to 1347 Capital that such Stockholder has full power and authority to enter into
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>1347 Capital shall cause each of the certificates evidencing the Shares to be legended with the applicable transfer restrictions.
Stockholder agrees and consents to the entry of stop transfer instructions with transfer agent and registrar against the transfer
of the Shares, except in compliance with this Agreement, and 1347 Capital and its transfer agent are hereby authorized to decline
to make any transfer of securities if such transfer would constitute a violation or breach of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement constitutes the entire agreement among the parties hereto and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement shall be binding upon and inure to the benefit of the parties named herein and their respective successors
and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement and any claim, controversy or dispute arising out of or related to this Agreement or the interpretation and
enforcement of the rights and duties of the parties, whether arising in law or equity, whether in contract, tort, under statute
or otherwise, shall be governed by and construed in accordance with the domestic Laws of the State of New York (including in respect
of the statute of limitations or other limitations period applicable to any such claim, controversy or dispute), without giving
effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would
cause the application of the Laws of any jurisdiction other than the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All notices, requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request, demand,
claim, or other communication hereunder shall be deemed duly given (a) when delivered personally to the recipient, (b) when sent
by electronic mail or facsimile, on the date of transmission to such recipient, (c) one Business Day after being sent to the recipient
by reputable overnight courier service (charges prepaid), or (d) four (4) Business Days after being mailed to the recipient by
certified or registered mail, return receipt requested and postage prepaid, and addressed to the address or facsimile number indicated
on the books and records of 1347 Capital or such other address as a party shall subsequently provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by the parties
hereto and approved in writing by the Audit Committee of the Board of Directors of 1347 Capital. No waiver by any party hereto
of any provision of this Agreement or any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, shall be valid unless the same shall be in writing and signed by the party making such waiver and, in the case of 1347
Capital, approved in writing by the Audit Committee of the Board of Directors of 1347 Capital nor shall such waiver be deemed to
extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way
any rights arising by virtue of any prior or subsequent such occurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each of the parties hereto hereby acknowledge and agree that irreparable damage would occur if any of the provisions of
this Agreement are not performed in accordance with their specific terms and in the event of breach of this Agreement by a party
hereto, the non-breaching party would not be adequately compensated in all cases by monetary damages alone. Accordingly, in addition
to any other right or remedy to which the non-breaching party may be entitled, it shall be entitled to enforce any provision of
this Agreement by a decree of specific performance and to temporary, preliminary and permanent injunctive relief to prevent breaches
or threatened breaches of any of the provisions of this Agreement, without posting any bond or other undertaking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of Law,
or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially
adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated
as originally contemplated to the fullest extent possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement may be executed in one or more counterparts (including by means of electronic mail or facsimile), each of
which shall be deemed an original but all of which together shall constitute one and the same instrument. This Agreement shall
become effective when each party hereto shall have received a counterpart hereof signed by the other parties hereto. The parties
hereto agree that the delivery of this Agreement may be effected by means of an exchange of facsimile signatures or other electronic
delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Pages Follow</I>]</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">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have executed this Stockholder Lockup Agreement on the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Hassan Baqar</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Hassan Baqar</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="font-size: 10pt">Chief Financial Officer</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>STOCKHOLDER:</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B><I>FDG</I> HVAC LLC</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ David Gellman</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD>David Gellman</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title: </TD>
    <TD STYLE="font-size: 10pt">Vice President</TD>
    </TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>





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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>14
<FILENAME>v444860_ex10-12.htm
<DESCRIPTION>NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
<TEXT>
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<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.12</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Limbach Holdings, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Non-Employee Director Compensation Policy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Adopted July 21, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>$60,000 annual cash fee for Board service;</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>$20,000 annual cash fee for each of the Chair of Board; and</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>$10,000 annual cash fee for the Chair of the Audit Committee.</TD></TR></TABLE>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>15
<FILENAME>v444860_ex21-1.htm
<DESCRIPTION>LIST OF SUBSIDIARIES
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 21.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Subsidiaries of Limbach Holdings, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>State of Formation</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limbach Holdings LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limbach Facility Services LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Harper Limbach Construction LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Harper Limbach LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limbach Company LP</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limbach Company, LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD></TR>
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