<SEC-DOCUMENT>0001558370-16-006180.txt : 20160527
<SEC-HEADER>0001558370-16-006180.hdr.sgml : 20160527
<ACCEPTANCE-DATETIME>20160527080831
ACCESSION NUMBER:		0001558370-16-006180
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20160527
DATE AS OF CHANGE:		20160527
EFFECTIVENESS DATE:		20160527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AxoGen, Inc.
		CENTRAL INDEX KEY:			0000805928
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				411301878
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-211660
		FILM NUMBER:		161680006

	BUSINESS ADDRESS:	
		STREET 1:		13859 PROGRESS BLVD.
		STREET 2:		SUITE 100
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615
		BUSINESS PHONE:		(386) 462-6817

	MAIL ADDRESS:	
		STREET 1:		13859 PROGRESS BLVD.
		STREET 2:		SUITE 100
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LECTEC CORP /MN/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>axgn-20160527xs8.htm
<DESCRIPTION>S-8
<TEXT>
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		<title>
			axgn_Current folio_S8
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	<body><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p style="margin:0pt;text-indent:36pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 9pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;font-size:9pt;">As filed with the Securities and Exchange Commission on May 27, 2016</font>
		</p>
		<p style="margin:0pt;border-bottom:3pt double #000000 ;text-align:right;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Registration No.&nbsp;333-</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;font-size:14pt;">UNITED STATES</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;font-size:14pt;">SECURITIES AND EXCHANGE COMMISSION</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-weight:bold;font-size:8pt;">Washington, D.C. 20549</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;font-size:14pt;">FORM S-8</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;font-size:14pt;">REGISTRATION STATEMENT</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-weight:bold;font-size:8pt;">UNDER</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-weight:bold;font-size:8pt;">THE SECURITIES ACT OF&nbsp;1933</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 19pt;">
			<font style="display:inline;font-weight:bold;font-size:19pt;">AXOGEN, INC.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(Exact name of registrant as specified in its charter)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;font-family:Calibri;font-size:10pt;margin-left:0pt;">
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Minnesota</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:278.40pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">41-1301878</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:278.40pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">(State or other jurisdiction of incorporation or organization)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:278.40pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">(I.R.S. Employer Identification No.)</font></p>
				</td>
			</tr>
		</table></div>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">13631 Progress Boulevard, Suite 400,</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Alachua, Florida 32615</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(Address of Principal Executive Offices)</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">AxoGen, Inc. 2010 Stock Incentive Plan </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(Full title of the plan)</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Karen Zaderej</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Chief Executive Officer</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">AxoGen, Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">13631 Progress Boulevard, Suite 400,</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Alachua, Florida 32615</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(386) 462-6800</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(Name, address and telephone number of agent for service)</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-style:italic;font-size:7pt;">With copies to:</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Gregory G. Freitag</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">General Counsel</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">AxoGen, Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">13631 Progress Boulevard, Suite 400</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Alachua, Florida 32615</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(386) 462-6800</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Fahd M.T. Riaz, Esq.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">DLA Piper LLP (US)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">1650 Market Street, Suite 4900</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">Philadelphia, Pennsylvania 19103</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">(215) 656-3300</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-size:7pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#x201C;large accelerated filer,&#x201D; &#x201C;accelerated filer&#x201D; and &#x201C;smaller reporting company&#x201D; in Rule&nbsp;12b-2 of the Exchange Act. (Check one): </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;font-family:Calibri;font-size:10pt;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">Large&nbsp;accelerated&nbsp;filer&nbsp;</font><font style="display:inline;font-size:7pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:185.80pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">Accelerated&nbsp;filer&nbsp;</font><font style="display:inline;font-size:7pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">Non-accelerated filer&nbsp;</font><font style="display:inline;font-size:7pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">(Do not check if a smaller reporting company)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:185.80pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">Smaller&nbsp;reporting&nbsp;company&nbsp;</font><font style="display:inline;font-size:7pt;">&#x2612;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:185.75pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:185.80pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">CALCULATION OF REGISTRATION FEE</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:188.10pt;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Title of each class of</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">securities to be registered</font></p>
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:57.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Amount</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">to be</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">registered</font><font style="display:inline;font-weight:bold;font-size:7pt;font-size:4pt;top:-4pt;position:relative;line-height:100%">(1)</font></p>
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:97.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Proposed&nbsp;maximum</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">offering&nbsp;price&nbsp;per</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">share</font><font style="display:inline;font-weight:bold;font-size:7pt;font-size:4pt;top:-4pt;position:relative;line-height:100%">(2)</font></p>
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:97.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Proposed&nbsp;maximum</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">aggregate&nbsp;offering</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">price</font><font style="display:inline;font-weight:bold;font-size:7pt;font-size:4pt;top:-4pt;position:relative;line-height:100%">(2)</font></p>
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:73.55pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Amount&nbsp;of</font><br /><font style="display:inline;font-weight:bold;font-size:7pt;">registration&nbsp;fee</font></p>
				</td>
				<td valign="bottom" style="width:02.55pt;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:188.10pt;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;text-indent: -12pt;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-size:7pt;">Common stock, </font><font style="display:inline;font-size:7pt;">par value $0.01 per share</font></p>
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:57.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;;font-family:Times New Roman,Times,serif;font-size:7pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000&nbsp;
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:97.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;;font-family:Times New Roman,Times,serif;font-size:7pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.44&nbsp;
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:97.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;;font-family:Times New Roman,Times,serif;font-size:7pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,880,000&nbsp;
				</td>
				<td valign="bottom" style="width:10.30pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:73.55pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman,Times,serif;font-size:7pt;text-align:right;" nowrap="nowrap"><div style="float:left">$</div>1,095.62&nbsp;
				</td>
				<td valign="top" style="width:02.55pt;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 15.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 7pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:7pt;;"> (1)</font>
			</p>
		</td><td style="width:3pt;"><p style="width:3pt;width:3pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 7pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:7pt;color:#000000;">Pursuant to Rule 416(c) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement on Form S-8 (the "Registration Statement") also covers an indeterminate number of additional shares of common stock, par value $0.01 per share (the "Common Stock"), of AxoGen,&nbsp;&nbsp;Inc. (the "Company" or the "Registrant") under the AxoGen, Inc. 2010 Stock Incentive Plan, as amended and restated as of March 23, 2016, which may be offered or issued to prevent dilution resulting from adjustments as a result of stock dividends, stock splits, reverse stock splits, recapitalizations, reclassifications, mergers, split-ups, reorganizations, consolidations and other capital adjustments.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 15.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 7pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:7pt;;"> (2)</font>
			</p>
		</td><td style="width:3pt;"><p style="width:3pt;width:3pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 7pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:7pt;color:#000000;">Pursuant to Rule 457(c) and 457(h) of the Securities Act, the proposed maximum offering price per share and the proposed maximum aggregate offering price are estimated solely for the purpose of calculating the amount of the registration fee and are based on the average of the high and low prices of the Registrant&#x2019;s Common Stock as reported on the NASDAQ Capital Market on May 24, 2016.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-weight:bold;font-size:7pt;">EXPLANATORY NOTE</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 4pt;">
			<font style="display:inline;font-size:4pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-size:7pt;">This registration statement on Form S-8 (the "Registration Statement") is filed by AxoGen, Inc. (the "Company" or the "Registrant"), relating to the registration of 2,000,000 shares of common stock</font><font style="display:inline;font-size:7pt;">, $0.01 par value per share (the "Common Stock"), of the Registrant to be offered and sold under the </font><font style="display:inline;font-size:7pt;">AxoGen, Inc. 2010 Stock Incentive Plan, as amended and restated as of March 23, 2016 (the &#x201C;Plan&#x201D;).</font>
		</p>
		<p style="margin:0pt;border-bottom:3pt double #000000 ;border-top:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-size:7pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			&nbsp;
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;font-weight:bold;">PART I</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">Information Required in the Section 10(a) Prospectus</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;color:#000000;background-color: #FFFFFF;">As permitted by the rules of the U.S. Securities and Exchange Commission (the &#x201C;Commission&#x201D;), this registration statement omits the information specified in Part&nbsp;I of Form&nbsp;S-8. The documents containing the information specified in Part&nbsp;I will be delivered to the participants in the Plan as required by Rule&nbsp;428(b)(1) under the Securities Act of 1933, as amended (the &#x201C;Securities Act&#x201D;). Such documents are not being filed with the Commission as part of this registration statement or as a prospectus or prospectus supplement pursuant to Rule&nbsp;424 of the Securities Act. These documents and the documents incorporated by reference in this registration statement pursuant to Item&nbsp;3 of Part&nbsp;II hereof, taken together, constitute a prospectus that meets the requirements of Section&nbsp;10(a) of the Securities Act.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">PART II</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">Information Required in the Registration Statement</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Item 3.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Incorporation of Documents by Reference</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">The following documents previously filed by the Registrant with the Commission are incorporated herein by reference and shall be deemed to be a part hereof:</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:11pt;;"> (1)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The Company&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Commission on February 29, 2016 (including the portions of the Registrant&#x2019;s Proxy Statement on Schedule 14A, filed on April 8, 2016, incorporated by reference therein);</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:11pt;;"> (2)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The Company&#x2019;s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2016, filed with the Commission on May 4, 2016;</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:11pt;;"> (3)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The Company&#x2019;s Current Reports on Form 8-K filed with the Commission on February 29, 2016, March 14, 2016 and March 18, 2016 (provided that any portions of such reports that are deemed furnished and not filed pursuant to instructions to Form 8-K shall not be incorporated by reference into this Registration Statement); and</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;text-align:justify;text-justify:inter-ideograph;font-size:11pt;;"> (4)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The description of Common Stock set forth in the Company&#x2019;s Registration Statement on Form 8-A12B filed with the Commission on August 6, 2013 pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the &#x201C;Exchange Act&#x201D;), including any amendment or report filed for the purpose of updating such description.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">In addition, all documents that the Company files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the effective date of this Registration Statement (except for any portions of the Company&#x2019;s Current Reports on Form 8-K furnished pursuant to Item 2.02 or Item 7.01 thereof and any corresponding exhibits thereto not filed with the Commission), but prior to the filing of a post-effective amendment to this Registration Statement indicating that all securities offered hereby have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing such documents.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">For purposes of this Registration Statement, any document or statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such document or statement in such document. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Item 4.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Description of Securities</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Not applicable.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;">Item 5.</font><font style="display:inline;">&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Interests of Named Experts and Counsel</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Not applicable.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Item 6.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Indemnification of Directors and Officers</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Minnesota Statutes, Section 302A.521, subd. 2, requires the Company to indemnify a person made or threatened to be made a party to a proceeding by reason of the former or present official capacity of the person with respect to the Company, against judgments, penalties, fines, settlements, and reasonable expenses, including attorneys&#x2019; fees and disbursements, incurred by the person in connection with the proceeding if certain statutory standards are met, unless the Company amends its Amended the Restated Articles of Incorporation, or the &#x201C;Articles of Incorporation,&#x201D; or its Amended and Restated Bylaws, or the &#x201C;Bylaws,&#x201D; to prohibit or condition such indemnification rights. In addition, Minnesota Statutes, Section 302A.521, subd. 3 requires payment by the Company, upon written request, of reasonable expenses in advance of final disposition of the proceeding in certain circumstances unless the Company amends the Articles of Incorporation or the Bylaws to prohibit or condition such expense advancement rights. Under Section 302A.521, subd. 4, the Company may amend the Articles of Incorporation or the Bylaws to prohibit or condition such indemnification or expense advancement rights. A decision as to required indemnification is made (i) by a disinterested majority of the Company&#x2019;s Board of Directors present at a meeting at which a disinterested quorum is present, (ii) by a designated committee of the Board of Directors consisting of two or more disinterested directors, (iii) by special legal counsel selected by the board or a committee by vote pursuant to clause (i) or (ii) above, (iv) by an affirmative vote of the shareholders, in which the shares held by parties to the proceeding is not counted in determining the presence of a quorum and are not considered to be present and entitled to vote, or (v) by a court in Minnesota. For purposes of clauses (i) and (ii) above, a director is disinterested if he or she is not a party to the proceeding for which indemnification or expense advancement is at issue. Section 302A.521 contains detailed terms regarding such right of indemnification and reference is made thereto for a complete statement of such indemnification rights.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Article 7 of the Articles of Incorporation provides that, to the fullest extent permitted by the Minnesota Business Corporation Act as the same exists or may hereafter be amended, a director of the Company shall not be personally liable to the Company or its shareholders for monetary damages for breach of fiduciary duty as a director; provided, however, that Article 7 shall not eliminate or limit the liability of a director to the extent provided by applicable law (i) for any breach of the director&#x2019;s duty of loyalty to the corporation or its shareholders, (ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law, (iii) under section 302A.559 or 80A.76 of the Minnesota Statutes, (iv) for any transaction from which the director derived an improper personal benefit, or (v) for any act or omission occurring prior to the effective date of Article 7 or any predecessor of this provision. Neither the amendment, modification or repeal of Article 7 nor the adoption of any provision in the Articles of Incorporation inconsistent with Article 7 shall adversely affect any right or protection of a director or officer of the Company with respect to any act or omission that occurred prior to the time of such amendment, modification, repeal or adoption.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">The Bylaws provide that the directors and officers of the Company shall have the right to indemnification provided by Minnesota Statutes, Section 302A.521, as now enacted or hereafter amended. Under Section 302A.521, subd. 2, indemnification will be available only where an officer, director or employee can establish that he or she: (i) has not been indemnified by another organization with respect to the same acts or omissions; (ii) acted in good faith; (iii) received no improper personal benefits; (iv) in the case of a criminal proceeding, had no reasonable cause to believe the conduct was unlawful; and (v) reasonably believed the conduct was in the best interests of the Company or, in certain circumstances, reasonably believed that the conduct was not opposed to the best interests of the Company.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">The Company maintains, on behalf of its directors and officers, insurance protection against certain liabilities arising out of the discharge of their duties, as well as insurance covering the Company for indemnification payments made to its directors and officers for certain liabilities. The premiums for such insurance are paid by the Company.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">With respect to possible indemnification of directors, officers and controlling persons of the Company for liabilities arising under the Securities Act pursuant to such provisions, the Company is aware that the Commission has publicly taken the position that such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;">Item 7.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Exemption from Registration Claimed</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Not applicable.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Item 8.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Exhibits</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Exhibit</font><br /><font style="display:inline;font-weight:bold;">Number</font></p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Exhibit Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Amended and Restated Articles of Incorporation of AxoGen, Inc. (incorporated by reference to Appendix B to the Proxy Statement/Prospectus included as part of LecTec Corporation&#x2019;s Amendment No. 2 to Registration Statement on Form S-4 filed on August 29, 2011).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.2&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">AxoGen, Inc. Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on August 26, 2015).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">AxoGen, Inc. 2010 Stock Incentive Plan, amended and restated as of March 23, 2016.*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Opinion of DLA Piper&nbsp;LLP (US).*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Consent of DLA Piper LLP (US) (included in Exhibit&nbsp;5.1).*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.2&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Consent of Lurie, LLP*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Power of Attorney (included on signature page hereto).</font></p>
				</td>
			</tr>
		</table></div>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="left"></hr></div>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">*</font><font style="display:inline;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 11.7pt 0pt 0pt;"></font><font style="display:inline;">Filed herewith.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Item 9.&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Undertakings</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">The undersigned Registrant hereby undertakes:</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;;"> (1)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 21.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (i)</font>
			</p>
		</td><td style="width:15pt;"><p style="width:15pt;width:15pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">to include any prospectus required by Section 10(a)(3) of the Securities Act; </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 21.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (ii)</font>
			</p>
		</td><td style="width:15pt;"><p style="width:15pt;width:15pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement.&nbsp;&nbsp;Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &#x201C;Calculation of Registration Fee&#x201D; table in the effective registration statement; and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 21.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (iii)</font>
			</p>
		</td><td style="width:15pt;"><p style="width:15pt;width:15pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement; </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-style:italic;">provided</font><font style="display:inline;">, &nbsp;</font><font style="display:inline;font-style:italic;">however</font><font style="display:inline;">, that paragraphs (A)(1)(i) and (A)(1)(ii) shall not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference into this Registration Statement;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;;"> (2)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">That for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 23.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:justify;text-justify:inter-ideograph;;"> (3)</font>
			</p>
		</td><td style="width:13pt;"><p style="width:13pt;width:13pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination </font><font style="display:inline;color:#000000;">of the Offering.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#x2019;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act </font><font style="display:inline;color:#000000;background-color: #FFFFFF;">(and, where applicable, each filing of an employee benefit plan&#x2019;s annual report pursuant to Section&nbsp;15(d) of the Exchange Act)</font><font style="display:inline;color:#000000;background-color: #FFFFFF;">&nbsp;</font><font style="display:inline;"> that is incorporated by reference into this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.&nbsp;&nbsp;In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;font-weight:bold;">SIGNATURES</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Alachua, State of Florida, on this 27th day of May, 2016.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;font-family:Calibri;font-size:10pt;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:49.76%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:50.24%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">AxoGen, Inc.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:49.76%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.24%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:49.76%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.28%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:46.96%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:49.76%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.28%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:46.96%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Name: Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:49.76%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:03.28%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:46.96%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Title: Chief Executive Officer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;font-weight:bold;">POWER OF ATTORNEY AND SIGNATURES</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Each person whose individual signature appears below hereby authorizes and appoints Karen Zaderej and Peter J. Mariani, and each of them, with full power of substitution and resubstitution and full power to act without the other, as his or her true and lawful attorney in fact and agent to act in his or her name, place and stead and to execute in the name and on behalf of each person, individually and in each capacity stated below, and to file any and all amendments to this registration statement, including any and all post-effective amendments and amendments thereto, and any registration statement relating to the same offering filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange Commission, granting unto said attorneys in fact and agents, and each of them, full power and authority to do and perform each and every act and thing, ratifying and confirming all that said attorneys in fact and agents or any of them or their or his substitute or substitutes may lawfully do or cause to be done by virtue thereof.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;font-family:Calibri;font-size:10pt;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;text-align:center;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Signature</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;text-align:center;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Title</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:29.62%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;text-align:center;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Date</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:32.24%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Karen Zaderej</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td rowspan="2" valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Chief Executive Officer (Principal Executive Officer); Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Karen Zaderej</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Peter J. Mariani</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td rowspan="2" valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Chief Financial Officer (Principal Financial Officer and Accounting Officer)</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Peter J. Mariani</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Jamie M. Grooms</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td rowspan="2" valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Chairman of the Board of Directors</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Jamie M. Grooms</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Gregory G. Freitag</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Gregory G. Freitag</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Mark Gold, M.D.</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Mark Gold, M.D.</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Joseph Mandato</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Joe Mandato</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Guido J. Neels</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Guido Neels</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:32.78%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">/s/Robert J. Rudelius </font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Director</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">May 27, 2016</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:32.78%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;punctuation-wrap:hanging;text-indent: -7.2pt;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Robert J. Rudelius</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:32.24%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:02.78%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:29.62%;padding:0pt;">
					<p style="margin:0pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;"><font style="display:inline;font-weight:bold;">EXHIBIT INDEX</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 1pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Exhibit</font><br /><font style="display:inline;font-weight:bold;">Number</font></p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 1pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 1pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;">Exhibit Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Amended and Restated Articles of Incorporation of AxoGen, Inc. (incorporated by reference to Appendix B to the Proxy Statement/Prospectus included as part of LecTec Corporation&#x2019;s Amendment No. 2 to Registration Statement on Form S-4 filed on August 29, 2011).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.2&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">AxoGen, Inc. Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on August 26, 2015).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">AxoGen, Inc. 2010 Stock Incentive Plan, amended and restated as of March 23, 2016.*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Opinion of DLA Piper&nbsp;LLP (US).*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Consent of DLA Piper LLP (US) (included in Exhibit&nbsp;5.1).*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.2&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Consent of Lurie, LLP*</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:11pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24.1&nbsp;
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;">Power of Attorney (included on signature page hereto).</font></p>
				</td>
			</tr>
		</table></div>
		<div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="left"></hr></div>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;">*</font><font style="display:inline;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 11.7pt 0pt 0pt;"></font><font style="display:inline;">Filed herewith.</font>
		</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 11pt;">

			<font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>axgn-20160527ex415ea26e0.htm
<DESCRIPTION>EX-4.1
<TEXT>
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			axgn_Ex4_1
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	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
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			<a name="_GoBack"></a><font style="display:inline;text-transform:none;font-size:12pt;">Exhibit </font><font style="display:inline;font-size:12pt;">4.1</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-weight:bold;font-family:Times New Roman,Times,serif;font-size: 14pt;">
			<font style="display:inline;">AxoGen</font><font style="display:inline;">, INC.</font><br /><font style="display:inline;">2010 Stock INCENTIVE PLAN</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Amended and Restated as of March 23, 2016</font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057882"></a><a name="_Toc91058094"></a><a name="_Toc245720573"></a><a name="_Toc91046999"></a><a name="_Toc91047125"></a><a name="_Toc91046764"></a><font style="display:inline;font-weight:bold;">Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purpose</font><font style="display:inline;font-weight:bold;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The purpose of the Plan is to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining employees, officers, consultants, advisors and non&#x2013;employee Directors capable of assuring the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the Company&#x2019;s business and to compensate such persons through various stock&#x2013;based arrangements and provide them with opportunities for stock ownership in the Company, thereby aligning the interests of such persons with the Company&#x2019;s shareholders.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91047126"></a><font style="display:inline;font-weight:bold;text-decoration:none;">Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">As used in the Plan, the following terms shall have the meanings set forth below:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046766"></a><a name="_Toc91047001"></a><a name="_Toc91057884"></a><font style="display:inline;color:#000000;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Affiliate</font><font style="display:inline;color:#000000;">&#x201D; shall mean (i) any entity that, directly or indirectly through one or more intermediaries, is controlled by the Company and (ii) any entity in which the Company has a significant equity interest, in each case as determined by the Committee.</font><a name="_Toc91046767"></a><a name="_Toc91047002"></a><a name="_Toc91057885"></a>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Award</font><font style="display:inline;color:#000000;">&#x201D; shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Dividend Equivalent, Performance Award, Stock Award or Other Stock&#x2013;Based Award granted under the Plan.</font><a name="_Toc91046768"></a><a name="_Toc91047003"></a><a name="_Toc91057886"></a>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Award Agreement</font><font style="display:inline;color:#000000;">&#x201D; shall mean any written agreement, contract or other instrument or document evidencing an Award granted under the Plan.&nbsp;&nbsp;An Award Agreement may be in an electronic medium and need not be signed by a representative of the Company or the Participant.&nbsp;&nbsp;Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046769"></a><a name="_Toc91047004"></a><a name="_Toc91057887"></a><font style="display:inline;color:#000000;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Board</font><font style="display:inline;color:#000000;">&#x201D; shall mean the Board of Directors of the Company.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046770"></a><a name="_Toc91047005"></a><a name="_Toc91057888"></a><font style="display:inline;color:#000000;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Change in Control</font><font style="display:inline;color:#000000;">&#x201D; shall have the meaning ascribed to such term in any Award Agreement; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that no Award Agreement shall contain a definition of Change in Control that has the effect of accelerating the exercisability of any Award or the lapse of restrictions relating to any Award upon only the announcement or shareholder approval of (rather than consummation of) any reorganization, merger or consolidation of, or sale or other disposition of all or substantially all of the assets of, the Company.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">1</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046771"></a><a name="_Toc91047006"></a><a name="_Toc91057889"></a><font style="display:inline;color:#000000;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Code</font><font style="display:inline;color:#000000;">&#x201D; shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(g)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Committee</font><font style="display:inline;color:#000000;">&#x201D; shall mean the Compensation Committee of the Board or any successor committee of the Board designated by the Board to administer the Plan.&nbsp;&nbsp;The Committee shall be comprised of not less than such number of Directors as shall be required to permit Awards granted under the Plan to qualify under Rule 16b&#x2013;3, and each member of the Committee shall be a &#x201C;Non&#x2013;Employee Director&#x201D; within the meaning of Rule&nbsp;16b&#x2013;3 and an &#x201C;outside director&#x201D; within the meaning of Section 162(m).&nbsp;&nbsp;The Company expects to have the Plan administered in accordance with the requirements for the award of &#x201C;qualified performance&#x2013;based compensation&#x201D; within the meaning of Section 162(m) of the Code.</font><font style="display:inline;color:#000000;"> &nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046772"></a><a name="_Toc91047007"></a><a name="_Toc91057890"></a><font style="display:inline;color:#000000;">(h)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x201D; shall mean LecTec Corporation, a Minnesota corporation, or any successor corporation.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046773"></a><a name="_Toc91047008"></a><a name="_Toc91057891"></a><font style="display:inline;color:#000000;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Director</font><font style="display:inline;color:#000000;">&#x201D; shall mean a member of the Board.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046774"></a><a name="_Toc91047009"></a><a name="_Toc91057892"></a><font style="display:inline;color:#000000;">(j)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Dividend Equivalent</font><font style="display:inline;color:#000000;">&#x201D; shall mean any right granted under Section&nbsp;6(d) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046775"></a><a name="_Toc91047010"></a><a name="_Toc91057893"></a><font style="display:inline;color:#000000;">(k)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Eligible Person</font><font style="display:inline;color:#000000;">&#x201D; shall mean any employee, officer, consultant, advisor or non&#x2013;employee Director providing services to the Company or any Affiliate whom the Committee determines to be an Eligible Person, </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that, in the case of consultants and advisors, such services are not in connection with the offer or sale of securities in a capital&#x2013;raising transaction and do not directly or indirectly promote or maintain a market for the Company&#x2019;s securities.&nbsp;&nbsp;An Eligible Person must be a natural person.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046776"></a><a name="_Toc91047011"></a><a name="_Toc91057894"></a><font style="display:inline;color:#000000;">(l)&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">&#x201D; shall mean the Securities Exchange Act of 1934, as amended.</font><a name="_Toc91046777"></a><a name="_Toc91047012"></a><a name="_Toc91057895"></a>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(m)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Fair Market Value</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><font style="display:inline;color:#000000;">of Shares is (i) if the Shares are publicly traded, then the Fair Market Value per Share shall be determined as follows: (A) if the principal trading market for the Shares is a national securities exchange, the last reported sale price during regular trading hours on the relevant date or (if there were no trades on that date) on the latest preceding date upon which a sale was reported, or (B) if the Shares are not principally traded on such exchange or market, the mean between the last reported &#x201C;bid&#x201D; and &#x201C;asked&#x201D; prices of Shares on the relevant date or (if there were no &#x201C;bid&#x201D; and &#x201C;asked&#x201D; prices reported on that date) on the latest preceding date upon which &#x201C;bid&#x201D; and &#x201C;asked&#x201D; prices were reported, as reported by the National Daily Quotation Bureau, Inc. or as reported in a customary financial reporting service, as applicable and as the Committee determines, or (ii) if the Shares are not publicly traded or, if publicly traded, is not subject to reported transactions or &#x201C;bid&#x201D; or &#x201C;asked&#x201D; quotations as set forth above, the Fair Market Value per share shall be as determined by the Committee.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046778"></a><a name="_Toc91047013"></a><a name="_Toc91057896"></a><font style="display:inline;color:#000000;">(n)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Incentive Stock Option</font><font style="display:inline;color:#000000;">&#x201D; shall mean an option granted under Section 6(a) of the Plan that is intended to meet the requirements of Section 422 of the Code or any successor provision.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046779"></a><a name="_Toc91047014"></a><a name="_Toc91057897"></a><a name="_Toc91046780"></a><a name="_Toc91047015"></a><a name="_Toc91057898"></a><font style="display:inline;color:#000000;">(o)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Non&#x2013;Qualified Stock Option</font><font style="display:inline;color:#000000;">&#x201D; shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(p)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Option</font><font style="display:inline;color:#000000;">&#x201D; shall mean an Incentive Stock Option or a Non&#x2013;Qualified Stock Option.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046781"></a><a name="_Toc91047016"></a><a name="_Toc91057899"></a><font style="display:inline;color:#000000;">(q)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Other Stock&#x2013;Based Award</font><font style="display:inline;color:#000000;">&#x201D; shall mean any right granted under Section 6(g) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046782"></a><a name="_Toc91047017"></a><a name="_Toc91057900"></a><font style="display:inline;color:#000000;">(r)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Participant</font><font style="display:inline;color:#000000;">&#x201D; shall mean an Eligible Person designated to be granted an Award under the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046783"></a><a name="_Toc91047018"></a><a name="_Toc91057901"></a><font style="display:inline;color:#000000;">(s)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Performance Award</font><font style="display:inline;color:#000000;">&#x201D; shall mean any right granted under Section 6(e) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046784"></a><a name="_Toc91047019"></a><a name="_Toc91057902"></a><font style="display:inline;color:#000000;">(t)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Performance Goal</font><font style="display:inline;color:#000000;">&#x201D; shall mean one or more of the following performance goals, either individually, alternatively or in any combination, applied on a corporate, subsidiary, division, business unit, line of business or geographic region basis: sales, revenue, costs, expenses, earnings (including one or more of net profit after tax, gross profit, operating profit, earnings before interest and taxes, earnings before interest, taxes, depreciation and amortization and net earnings), earnings per share, earnings per share from continuing operations, operating income, pre&#x2013;tax income, net income, margins (including one or more of direct gross, gross, operating income, net income and pretax net income margins), returns (including one or more of return on actual or proforma assets, net assets, equity, investment, investment capital, capital and net capital employed), shareholder return (including total shareholder return relative to an index or peer group), stock price, economic value added, cash generation, cash flow, unit volume, working capital, market share, environmental health and safety goals, cost reductions and development and implementation of strategic plans, completion of key projects, management succession plans or diversity initiatives.&nbsp;&nbsp;A Performance Goal may be an absolute measure or a defined change (amount or percentage) in a measure.&nbsp;&nbsp;A Performance Goal may reflect absolute entity or business unit performance or performance relative to the performance of a peer group of companies or other external measure.&nbsp;&nbsp;To the extent consistent with Section 162(m), the Committee may provide that, in determining whether the Performance Goal has been achieved, the effect of certain events may be excluded.&nbsp;&nbsp;These events include, but are not limited to, any of the following: items of an unusual nature or of infrequency of occurrence as determined under generally accepted accounting principles, asset write&#x2013;downs, litigation or related judgments or settlements, changes in tax law, accounting principles or other such laws or provisions affecting reported results, severance, contract termination and other costs related to exiting certain business activities, and gains or losses from the disposition of businesses or assets or from the early extinguishment of debt.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046785"></a><a name="_Toc91047020"></a><a name="_Toc91057903"></a><font style="display:inline;color:#000000;">(u)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Person</font><font style="display:inline;color:#000000;">&#x201D; shall mean any individual or entity, including a corporation, partnership, limited liability company, association, joint venture or trust.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046786"></a><a name="_Toc91047021"></a><a name="_Toc91057904"></a><font style="display:inline;color:#000000;">(v)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Plan</font><font style="display:inline;color:#000000;">&#x201D; shall mean this LecTec Corporation 2010 Stock Incentive Plan, as amended from time to time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046788"></a><a name="_Toc91047023"></a><a name="_Toc91057906"></a><font style="display:inline;color:#000000;">(w)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Qualified Performance Award</font><font style="display:inline;color:#000000;">&#x201D; means a Performance Award that (i)&nbsp;is made to as officer of the Company who may be a &#x201C;covered person&#x201D; under Section 162(m), and (ii)&nbsp;is </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">intended to be &#x201C;qualified performance&#x2013;based compensation&#x201D; within the meaning of Section&nbsp;162(m).</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(x)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Restricted Stock</font><font style="display:inline;color:#000000;">&#x201D; shall mean any Share granted under Section&nbsp;6(c) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046789"></a><a name="_Toc91047024"></a><a name="_Toc91057907"></a><font style="display:inline;color:#000000;">(y)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Restricted Stock Unit</font><font style="display:inline;color:#000000;">&#x201D; shall mean any unit granted under Section&nbsp;6(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046790"></a><a name="_Toc91047025"></a><a name="_Toc91057908"></a><font style="display:inline;color:#000000;">(z)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Rule 16b&#x2013;3</font><font style="display:inline;color:#000000;">&#x201D; shall mean Rule 16b&#x2013;3 promulgated by the Securities and Exchange Commission under the Exchange Act or any successor rule or regulation.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046791"></a><a name="_Toc91047026"></a><a name="_Toc91057909"></a><font style="display:inline;color:#000000;">(aa)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Section 162(m)</font><font style="display:inline;color:#000000;">&#x201D; shall mean Section 162(m) of the Code and the applicable Treasury Regulations promulgated thereunder.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046792"></a><a name="_Toc91047027"></a><a name="_Toc91057910"></a><font style="display:inline;color:#000000;">(bb)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Shares</font><font style="display:inline;color:#000000;">&#x201D; shall mean shares of Common Stock, par value of $0.01 per share, of the Company or such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046793"></a><a name="_Toc91047028"></a><a name="_Toc91057911"></a><font style="display:inline;color:#000000;">(cc)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Specified Employee</font><font style="display:inline;color:#000000;">&#x201D; shall mean a &#x201C;specified employee&#x201D; as such term is defined in Section 409A(a)(2)(B) of the Code.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(dd)&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Stock Appreciation Right</font><font style="display:inline;color:#000000;">&#x201D; shall mean any right granted under Section 6(b) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91046794"></a><a name="_Toc91047029"></a><a name="_Toc91057912"></a><font style="display:inline;color:#000000;">(ee)&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">Stock Award</font><font style="display:inline;color:#000000;">&#x201D; shall mean any Share granted under Section 6(f) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(ff)&nbsp;&nbsp;&nbsp;&#x201C;</font><font style="display:inline;font-style:italic;color:#000000;">2001 Plan</font><font style="display:inline;color:#000000;">&#x201D; shall mean the LecTec Corporation 2001 Stock Option Plan, as amended from time to time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:none;">Section 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057914"></a><a name="_Toc91058097"></a><a name="_Toc245720576"></a><a name="_Toc91046796"></a><a name="_Toc91047031"></a><font style="display:inline;text-decoration:none;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Power and Authority of the Committee</font><font style="display:inline;font-style:italic;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp;The Plan shall be administered by the Committee.&nbsp;&nbsp;Subject to the express provisions of the Plan and to applicable law, the Committee shall have full power and authority to: (i)&nbsp;designate Participants; (ii)&nbsp;determine the type or types of Awards to be granted to each Participant under the Plan; (iii)&nbsp;determine the number of Shares to be covered by (or the method by which payments or other rights are to be calculated in connection with) each Award; (iv)&nbsp;determine the terms and conditions of any Award or Award Agreement; (v)&nbsp;amend the terms and conditions of any Award or Award Agreement; (vi)&nbsp;accelerate the exercisability of any Award or the lapse of restrictions relating to any Award; (vii)&nbsp;determine whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, other securities, other Awards or other property, or cancelled, forfeited or suspended; (viii) determine whether, to what extent and under what circumstances cash, Shares, other securities, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder of the Award or the Committee; (ix)&nbsp;interpret and administer the Plan and any instrument or agreement, including any Award Agreement, relating to the Plan; (x)&nbsp;establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">administration of the Plan; and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan.&nbsp;&nbsp;Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award or Award Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon any Participant, any holder or beneficiary of any Award or Award Agreement, and any employee of the Company or any Affiliate.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057915"></a><a name="_Toc91058098"></a><a name="_Toc245720577"></a><a name="_Toc91046797"></a><a name="_Toc91047032"></a><font style="display:inline;">(b)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Delegation</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee may delegate its powers and duties under the Plan to one or more Directors (including a Director who is also an officer of the Company) or a committee of Directors and may authorize one or more officers of the Company to grant Awards under the Plan, subject to such terms, conditions and limitations as the Committee may establish in its sole discretion; </font><font style="display:inline;font-style:italic;">provided, however</font><font style="display:inline;">, that the Committee shall not delegate its powers and duties under the Plan (i)&nbsp;with regard to officers or directors of the Company or any Affiliate who are subject to Section 16 of the Exchange Act or (ii)&nbsp;in such a manner as would cause the Plan not to comply with the requirements of Section 162(m)</font><font style="display:inline;">.&nbsp;&nbsp;Any delegation by the Committee pursuant to this Section 3(b) shall be subject to and limited by applicable law or regulation, including without limitation the rules and regulations of the NASDAQ Stock Market or such other securities exchange on which the Shares are listed. </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057916"></a><a name="_Toc91058099"></a><a name="_Toc245720578"></a><a name="_Toc91046798"></a><a name="_Toc91047033"></a><font style="display:inline;text-decoration:none;">(c)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Power and Authority of the Board of Directors</font><font style="display:inline;font-style:italic;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp;Notwithstanding anything to the contrary contained herein, the Board may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan, unless the exercise of such powers and duties by the Board would cause the Plan not to comply with the requirements of Section 162(m).</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Available for Awards.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057918"></a><a name="_Toc91058101"></a><a name="_Toc245720580"></a><a name="_Toc91046800"></a><a name="_Toc91047035"></a><font style="display:inline;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Shares Available</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;S</font><font style="display:inline;">ubject to adjustment as provided in Section 4(c) of the Plan, the total aggregate number of Shares that may be issued under all Awards under the Plan shall be 5,500,000.&nbsp;&nbsp;If any Shares covered by an Award or to which an Award relates are not purchased or are forfeited or are reacquired by the Company (including shares of Restricted Stock, whether or not dividends have been paid on such shares), or if an Award otherwise terminates or is cancelled without delivery of any Shares, then the number of Shares counted pursuant to Section&nbsp;4(b) of the Plan against the aggregate number of Shares available under the Plan with respect to such Award, to the extent of any such forfeiture, reacquisition by the Company, termination or cancellation, shall again be available for granting Awards under the Plan.&nbsp;&nbsp;Shares that are withheld in full or partial payment to the Company of the purchase or exercise price relating to an Award or in connection with the satisfaction of tax obligations relating to an Award shall not be available for granting Awards under the Plan. For the avoidance of doubt, if Shares are repurchased on the open market with the proceeds of the exercise price of Options, such Shares may not again be made available for issuance under the Plan.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057919"></a><a name="_Toc91058102"></a><a name="_Toc245720581"></a><a name="_Toc91046801"></a><a name="_Toc91047036"></a><font style="display:inline;text-decoration:none;">(b)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Accounting for Awards</font><font style="display:inline;font-style:italic;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp; &nbsp;</font><font style="display:inline;text-decoration:none;">For purposes of this Section 4, if an Award entitles the holder thereof to receive or purchase Shares, the number of Shares covered by such Award or to </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">which such Award relates shall be counted on the date of grant of such Award against the aggregate number of Shares available for Awards under the Plan.&nbsp;&nbsp;For Stock Appreciation Rights settled in Shares upon exercise, the aggregate number of Shares with respect to which the Stock Appreciation Right is exercised, rather than the number of Shares actually issued upon exercise, shall be counted against the number of Shares available for Awards under the Plan.&nbsp;&nbsp;Awards that do not entitle the holder thereof to receive or purchase Shares and Awards that are settled in cash shall not be counted against the aggregate number of Shares available for Awards under the Plan. </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057920"></a><a name="_Toc91058103"></a><a name="_Toc245720582"></a><a name="_Toc91046802"></a><a name="_Toc91047037"></a><font style="display:inline;">(c)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Adjustments</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp; &nbsp;</font><font style="display:inline;">In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split&#x2013;up, spin&#x2013;off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar corporate transaction or event affects the Shares such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i)&nbsp;the number and type of Shares (or other securities or other property) that thereafter may be made the subject of Awards, (ii)&nbsp;the number and type of Shares (or other securities or other property) subject to outstanding Awards, (iii)&nbsp;the purchase or exercise price with respect to any Awards and (iv)&nbsp;the limitations contained in Section 4(d) of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;text-decoration:none;">(d)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Section 162(m) Limitations for Qualified Performance Awards.</font><font style="display:inline;text-decoration:none;"> &nbsp;In accordance with Section 162(m), there are limits on the Qualified Performance Awards that may be granted to an Eligible Person under the Plan in any taxable year.&nbsp;&nbsp;Qualified Performance Awards denominated in Shares are subject to the limit set forth in subsection (i) below, and Qualified Performance Awards denominated in cash are subject to the limit set forth in subsection (ii) below.&nbsp;&nbsp;In no case is a Qualified Performance Award subject to both of the limits set forth in subsections (i) and (ii) below</font><a name="_Toc91046803"></a><a name="_Toc91047038"></a><font style="display:inline;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp; &nbsp;</font><a name="_Toc91058106"></a>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(i)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Limitation for Qualified Performance Awards</font><font style="display:inline;text-decoration:underline;"> Denominated in Shares.</font><font style="display:inline;"> &nbsp;No Eligible Person may be granted any Options or Stock Appreciation Rights denominated in Shares for more than 1,000,000 Shares (subject to adjustment as provided for in Section 4(c) of the Plan) in the aggregate in any taxable year. </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(ii)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Limitation for Qualified Performance Awards Denominated in Cash.</font><font style="display:inline;"> &nbsp;No Eligible Person may be granted any Qualified Performance Award or Qualified Performance Awards denominated in cash with a value in excess of $1,000,000 (whether payable in cash, Shares or other property) in the aggregate in any taxable year.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligibility.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Any Eligible Person shall be eligible to be designated a Participant.&nbsp;&nbsp;In determining which Eligible Persons shall receive an Award and the terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible Persons, their present and </font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">potential contributions to the success of the Company or such other factors as the Committee, in its discretion, shall deem relevant.&nbsp;&nbsp;Notwithstanding the foregoing, an Incentive Stock Option may only be granted to full&#x2013;time or part&#x2013;time employees (which term as used herein includes, without limitation, officers and Directors who are also employees), and an Incentive Stock Option shall not be granted to an employee of an Affiliate unless such Affiliate is also a &#x201C;subsidiary corporation&#x201D; of the Company within the meaning of Section&nbsp;424(f) of the Code or any successor provision.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057924"></a><a name="_Toc91058112"></a><a name="_Toc245720586"></a><a name="_Toc91046806"></a><a name="_Toc91047041"></a><font style="display:inline;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Options</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee is hereby authorized to grant Options to Eligible Persons with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058113"></a><font style="display:inline;">(i)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Exercise Price</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;The purchase price per Share purchasable under an Option shall be determined by the Committee and shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option; </font><font style="display:inline;font-style:italic;">provided, however,</font><font style="display:inline;"> that the Committee may designate a per share exercise price below Fair Market Value on the date of grant (A) to the extent necessary or appropriate, as determined by the Committee, to satisfy applicable legal or regulatory requirements of a foreign jurisdiction or (B) if the Option is granted in substitution for a stock option previously granted by an entity that is acquired by or merged with the Company or an Affiliate.&nbsp;&nbsp;Notwithstanding the foregoing, an Incentive Stock Option may not be granted to any employee of the Company or a subsidiary of the Company who, at the date of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any subsidiary of the Company, unless the purchase price is not less than 110% of the Fair Market Value on the date of grant.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058114"></a><font style="display:inline;">(ii)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Option Term</font><font style="display:inline;">.&nbsp;&nbsp;The term of each Option shall be fixed by the Committee but shall not be longer than ten (10) years from the date of grant. However, an Incentive Stock Option that is granted to an employee of the Company or a subsidiary of the Company who, at the date of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, or any subsidiary of the Company, may not have a term that exceeds five (5) years from the date of grant.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058115"></a><font style="display:inline;">(iii)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Time and Method of Exercise</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;The Committee shall determine the time or times at which an Option may be exercised in whole or in part and the method or methods by which, and the form or forms (including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof, having a Fair Market Value on the exercise date equal to the applicable exercise price) in which, payment of the exercise price with respect thereto may be made or deemed to have been made.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">(iv)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Limits on Incentive Stock Options</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Each Incentive Stock Option shall provide that if the aggregate Fair Market Value on the date of grant with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year, under the Plan or any other stock option plan of the Company or a parent or subsidiary of the Company, exceeds $100,000, then the Option, as to the excess, shall be treated as a Nonqualified Stock Option.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057925"></a><a name="_Toc91058117"></a><a name="_Toc245720587"></a><a name="_Toc91046807"></a><a name="_Toc91047042"></a><font style="display:inline;">(b)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Stock Appreciation Rights</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee is hereby authorized to grant Stock Appreciation Rights to Eligible Persons subject to the terms of the Plan and any applicable Award Agreement.&nbsp;&nbsp;A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive upon exercise thereof the excess of (i) the Fair Market Value of one Share on the date of exercise (or, if the Committee shall so determine, at any time during a specified period before or after the date of exercise) over (ii) the grant price of the Stock Appreciation Right as specified by the Committee, which price shall not be less than 100% of the Fair Market Value of one Share on the date of grant of the Stock Appreciation Right; </font><font style="display:inline;font-style:italic;">provided, however,</font><font style="display:inline;"> that the Committee may designate a per share grant price below Fair Market Value on the date of grant (A)&nbsp;to the extent necessary or appropriate, as determined by the Committee, to satisfy applicable legal or regulatory requirements of a foreign jurisdiction or (B)&nbsp;if the Stock Appreciation Right is granted in substitution for a stock appreciation right previously granted by an entity that is acquired by or merged with the Company or an Affiliate.&nbsp;&nbsp;Subject to the terms of the Plan and any applicable Award Agreement, the grant price, methods of exercise, dates of exercise, methods of settlement and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee.&nbsp;&nbsp;The term of any Stock Appreciation Right will be fixed by the Committee but shall not be longer than ten (10) years from the date of grant.&nbsp;&nbsp;The Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem appropriate.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057926"></a><a name="_Toc91058118"></a><a name="_Toc245720588"></a><a name="_Toc91046808"></a><a name="_Toc91047043"></a><font style="display:inline;">(c)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Restricted Stock and Restricted Stock Units</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee is hereby authorized to grant Awards of Restricted Stock and Restricted Stock Units to Eligible Persons with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058119"></a><font style="display:inline;">(i)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Restrictions</font><font style="display:inline;">.&nbsp;&nbsp;Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose (including, without limitation, any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property with respect thereto), which restrictions may lapse separately or in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058120"></a><font style="display:inline;">(ii)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Issuance and Delivery of Shares</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Any Restricted Stock granted under the Plan shall be issued at the time such Awards are granted and may be evidenced in such manner as the Committee may deem appropriate, including book&#x2013;entry registration or issuance of a stock certificate or certificates, which certificate or certificates shall </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">be held by the Company.&nbsp;&nbsp;Such certificate or certificates shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions applicable to such Restricted Stock.&nbsp;&nbsp;Shares representing Restricted Stock that is no longer subject to restrictions shall be delivered to the Participant promptly after the applicable restrictions lapse or are waived.&nbsp;&nbsp;In the case of Restricted Stock Units, no Shares shall be issued at the time such Awards are granted.&nbsp;&nbsp;Upon the lapse or waiver of restrictions and the restricted period relating to Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holder of the Restricted Stock Units, unless such issuance and delivery is otherwise deferred to a date authorized by the Committee.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058121"></a><font style="display:inline;">(iii)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Forfeiture</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Except as otherwise determined by the Committee, upon a Participant&#x2019;s termination of employment or resignation or removal as a Director (in either case, as determined under criteria established by the Committee) during the applicable restriction period, all Shares of Restricted Stock and all Restricted Stock Units held by the Participant at such time shall be forfeited and reacquired by the Company; </font><font style="display:inline;font-style:italic;">provided, however,</font><font style="display:inline;"> that the Committee may, when it finds that a waiver would be in the best interest of the Company, waive in whole or in part any or all remaining restrictions with respect to Shares of Restricted Stock or Restricted Stock Units.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057927"></a><a name="_Toc91058122"></a><a name="_Toc245720589"></a><a name="_Toc91046809"></a><a name="_Toc91047044"></a><font style="display:inline;">(</font><font style="display:inline;">d)&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Dividend Equivalents</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee is hereby authorized to grant Dividend Equivalents to Eligible Persons under which the Participant shall be entitled to receive payments (in cash, Shares, other securities, other Awards or other property as determined in the discretion of the Committee) equivalent to the amount of cash dividends paid by the Company to holders of Shares with respect to a number of Shares determined by the Committee.&nbsp;&nbsp;Subject to the terms of the Plan and any applicable Award Agreement, such Dividend Equivalents may have such terms and conditions as the Committee shall determine</font><font style="display:inline;">, but in no event shall Dividend Equivalents be granted to a Participant in connection with the grant of an Option or Stock Appreciation Right.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057928"></a><a name="_Toc91058123"></a><a name="_Toc245720590"></a><a name="_Toc91046810"></a><a name="_Toc91047045"></a><font style="display:inline;">(e)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Performance Awards</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp; &nbsp;</font><font style="display:inline;">The Committee is hereby authorized to grant Performance Awards to Eligible Persons subject to the terms of the Plan and any applicable Award Agreement.&nbsp;&nbsp;A Performance Award granted under the Plan (i)&nbsp;may be denominated or payable in cash, Shares (including, without limitation, Restricted Stock and Restricted Stock Units), other securities, other Awards or other property, and (ii)&nbsp;shall confer on the holder thereof the right to receive payments, in whole or in part, upon the achievement of one or more objective Performance Goals during such performance periods as the Committee shall establish.&nbsp;&nbsp;Subject to the terms of the Plan, the Performance Goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award granted, the amount of any payment to be made pursuant to any Performance Award and any other terms and conditions of any Performance Award shall be determined by the Committee.&nbsp;&nbsp;Qualified Performance Awards shall be conditioned, to the extent required by 162(m), solely on the achievement of one or more objective Performance Goals established by the Committee within the time prescribed by Section&nbsp;162(m), and Qualified Performance Awards shall otherwise comply with the requirements of Section 162(m).</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057929"></a><a name="_Toc91058124"></a><a name="_Toc245720591"></a><a name="_Toc91046811"></a><a name="_Toc91047046"></a><font style="display:inline;">(f)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Stock Awards</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Committee is hereby authorized to grant to Eligible Persons Shares without restrictions thereon, as deemed by the Committee to be consistent with the purpose </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">9</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">of the Plan.&nbsp;&nbsp;Subject to the terms of the Plan and any applicable Award Agreement, such Stock Awards may have such terms and conditions as the Committee shall determine.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057930"></a><a name="_Toc91058125"></a><a name="_Toc245720592"></a><a name="_Toc91046812"></a><a name="_Toc91047047"></a><font style="display:inline;text-decoration:none;">(g)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Other Stock&#x2013;Based Awards</font><font style="display:inline;font-style:italic;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp;The Committee is hereby authorized to grant to Eligible Persons such other Awards that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares), as are deemed by the Committee to be consistent with the purpose of the Plan.&nbsp;&nbsp;The Committee shall determine the terms and conditions of such Awards, subject to the terms of the Plan and the Award Agreement.&nbsp;&nbsp;Shares, or other securities delivered pursuant to a purchase right granted under this Section 6(g), shall be purchased for consideration having a value equal to at least 100% of the Fair Market Value of such Shares or other securities on the date the purchase right is granted.&nbsp;&nbsp;The consideration paid by the Participant may be paid by such method or methods and in such form or forms (including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof), as the Committee shall determine.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;text-decoration:none;">(h)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">General.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058127"></a><font style="display:inline;">(i)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Consideration for Awards</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Awards may be granted for no cash consideration or for any cash or other consideration as may be determined by the Committee or required by applicable law.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058128"></a><font style="display:inline;">(ii)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Awards May Be Granted Separately or Together</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Awards may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with or in substitution for any other Award or any award granted under any other plan of the Company or any Affiliate.&nbsp;&nbsp;Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058129"></a><font style="display:inline;">(iii)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Forms of Payment under Awards</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise or payment of an Award may be made in such form or forms as the Committee shall determine (including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof), and may be made in a single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee.&nbsp;&nbsp;Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents with respect to installment or deferred payments.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058130"></a><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">10</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">(iv)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Term of Awards</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;The term of each Award shall be for a period not longer than ten (10) years from the date of grant.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058131"></a><font style="display:inline;">(v)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Limits on Transfer of Awards</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;Except as otherwise provided in this Section 6(h)(v), no Award (other than a Stock Award) and no right under any such Award shall be transferable by a Participant other than by will or by the laws of descent and distribution.&nbsp;&nbsp;The Committee may establish procedures as it deems appropriate for a Participant to designate a Person or Persons, as beneficiary or beneficiaries, to exercise the rights of the Participant and receive any property distributable with respect to any Award in the event of the Participant&#x2019;s death.&nbsp;&nbsp;The Committee, in its discretion and subject to such additional terms and conditions as it determines, may permit a Participant to transfer a Non&#x2013;Qualified Stock Option to any &#x201C;family member&#x201D; (as such term is defined in the General Instructions to Form S&#x2013;8 (or any successor to such Instructions or such Form) under the Securities Act of 1933, as amended) at any time that such Participant holds such Option, provided that such transfers may not be for value (</font><font style="display:inline;font-style:italic;">i.e.,</font><font style="display:inline;"> the transferor may not receive any consideration therefor) and the family member may not make any subsequent transfers other than by will or by the laws of descent and distribution.&nbsp;&nbsp;Each Award under the Plan or right under any such Award shall be exercisable during the Participant&#x2019;s lifetime only by the Participant (except as provided herein or in an Award Agreement or amendment thereto relating to a Non&#x2013;Qualified Stock Option) or, if permissible under applicable law, by the Participant&#x2019;s guardian or legal representative.&nbsp;&nbsp;No Award (other than a Stock Award) or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company or any Affiliate.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91058132"></a><font style="display:inline;">(vi)&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;">Restrictions; Securities Exchange Listing</font><font style="display:inline;text-decoration:underline;">.</font><font style="display:inline;"> &nbsp;All Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements, and the Committee may cause appropriate entries to be made or legends to be placed on the certificates for such Shares or other securities to reflect such restrictions.&nbsp;&nbsp;If the Shares or other securities are traded on a securities exchange, the Company shall not be required to deliver any Shares or other securities covered by an Award unless and until such Shares or other securities have been admitted for trading on such securities exchange.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(vii)&nbsp;</font><font style="display:inline;text-decoration:underline;">Prohibition on Option and Stock Appreciation Right Repricing.</font><font style="display:inline;"> &nbsp;Except as provided in Section 4(c) hereof, no Option may be amended to reduce its initial exercise price, and no Option shall be cancelled and replaced with cash, other Awards or an Option or Options having a lower exercise price than the original Option.&nbsp;&nbsp;In addition, except as provided in Section 4(c) hereof, no Stock Appreciation Right may be amended to reduce its initial grant price, and no Stock Appreciation Right shall be cancelled and replaced with cash, other Awards, or a Stock Appreciation Right or Stock Appreciation Rights having a lower grant price than the original Stock Appreciation Right.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">11</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">(viii)&nbsp;</font><font style="display:inline;text-decoration:underline;">Section 409A Provisions.</font><font style="display:inline;"> &nbsp;Notwithstanding anything in the Plan or any Award Agreement to the contrary, to the extent that any amount or benefit that constitutes &#x201C;deferred compensation&#x201D; to a Participant under Section 409A of the Code and applicable guidance thereunder is otherwise payable or distributable to a Participant under the Plan or any Award Agreement solely by reason of the occurrence of a Change in Control or due to the Participant&#x2019;s disability or &#x201C;separation from service&#x201D; (as such term is defined under Section 409A), such amount or benefit will not be payable or distributable to the Participant by reason of such circumstance, unless the Committee determines in good faith that (i)&nbsp;the circumstances giving rise to such Change in Control, disability or separation from service meet the definition of a change in ownership or control, disability or separation from service, as the case may be, in Section 409A(a)(2)(A) of the Code and applicable proposed or final regulations, or (ii)&nbsp;the payment or distribution of such amount or benefit would be exempt from the application of Section 409A by reason of the short&#x2013;term deferral exemption or otherwise.&nbsp;&nbsp;Any payment or distribution that otherwise would be made to a Participant who is a Specified Employee (as determined by the Committee in good faith) on account of separation from service may not be made before the date which is six months after the date of the Specified Employee&#x2019;s separation from service (or, if earlier, upon the Specified Employee&#x2019;s death), unless the payment or distribution is exempt from the application of Section 409A by reason of the short&#x2013;term deferral exemption or otherwise.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment and Termination; Corrections.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057933"></a><a name="_Toc91058134"></a><a name="_Toc245720595"></a><a name="_Toc91046815"></a><a name="_Toc91047050"></a><font style="display:inline;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Amendments to the Plan</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The Board may amend, alter, suspend, discontinue or terminate the Plan at any time; </font><font style="display:inline;font-style:italic;">provided, however</font><font style="display:inline;">, that, notwithstanding any other provision of the Plan or any Award Agreement, prior approval of the shareholders of the Company shall be required for any amendment to the Plan that:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(i)&nbsp;&nbsp;&nbsp;&nbsp;requires shareholder approval under the rules or regulations of the Securities and Exchange Commission, the NASDAQ Stock Market or any securities exchange that are applicable to the Company;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(ii)&nbsp;&nbsp;&nbsp;increases the number of shares authorized under the Plan as specified in Section 4(a) of the Plan;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iii)&nbsp;&nbsp;increases the number of shares or value subject to the limitations contained in Section 4(d) of the Plan;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iv)&nbsp;&nbsp;permits repricing of Options or Stock Appreciation Rights which is prohibited by Section 6(h)(vii) of the Plan;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(v)&nbsp;&nbsp;&nbsp;permits the award of Options or Stock Appreciation Rights at a price less than 100% of the Fair Market Value of a Share on the date of grant of such Option or Stock Appreciation Right, contrary to the provisions of Sections 6(a)(i) and 6(b)(ii) of the Plan; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(vi)&nbsp;&nbsp;would cause Section 162(m) of the Code to become unavailable with respect to the Plan.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057934"></a><a name="_Toc91058135"></a><a name="_Toc245720596"></a><a name="_Toc91046816"></a><a name="_Toc91047051"></a><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">12</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">(b)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Amendments to Awards</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;Subject to the provisions of the Plan, the Committee may waive any conditions of or rights of the Company under any outstanding Award, prospectively or retroactively.&nbsp;&nbsp;Except as otherwise provided in the Plan, the Committee may amend, alter, suspend, discontinue or terminate any outstanding Award, prospectively or retroactively, but no such action may adversely affect the rights of the holder of such Award without the consent of the Participant or holder or beneficiary thereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;text-decoration:none;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057935"></a><a name="_Toc91058136"></a><a name="_Toc245720597"></a><a name="_Toc91046817"></a><a name="_Toc91047052"></a><font style="display:inline;text-decoration:none;">(c)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;text-decoration:none;">Correction of Defects, Omissions and Inconsistencies</font><font style="display:inline;font-style:italic;text-decoration:none;">.</font><font style="display:inline;text-decoration:none;"> &nbsp;The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner and to the extent it shall deem desirable to implement or maintain the effectiveness of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Tax Withholding.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">In order to comply with all applicable federal, state, local or foreign income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which are the sole and absolute responsibility of a Participant, are withheld or collected from such Participant.&nbsp;&nbsp;In order to assist a Participant in paying all or a portion of the applicable taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating to) an Award, the Committee, in its discretion and subject to such additional terms and conditions as it may adopt, may permit the Participant to satisfy such tax obligation by (a)&nbsp;electing to have the Company withhold a portion of the Shares otherwise to be delivered upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes or (b)&nbsp;delivering to the Company Shares other than Shares issuable upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes.&nbsp;&nbsp;The election, if any, must be made on or before the date that the amount of tax to be withheld is determined.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Provisions.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057938"></a><a name="_Toc91058139"></a><a name="_Toc245720600"></a><a name="_Toc91046820"></a><a name="_Toc91047055"></a><font style="display:inline;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Awards in Connection with Corporate Transactions and Otherwise.&nbsp; </font><font style="display:inline;">Nothing contained in this Plan shall be construed to (i) limit the right of the Committee to make Awards under this Plan in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business or assets of any corporation, firm or association, including Awards to employees thereof who become employees of the Company, or for other proper corporate purposes, or (ii) limit the right of the Company to grant stock options or make other awards outside of this Plan.&nbsp;&nbsp;Without limiting the foregoing, the Committee may make an Award to an employee of another corporation who becomes an employee of the Company by reason of a corporate merger, consolidation, acquisition of stock or property, reorganization or liquidation involving the Company in substitution for a grant made by such corporation.&nbsp;&nbsp;The terms and conditions of the substitute Awards may vary from the terms and conditions required by the Plan and from those of </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">13</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">the substituted stock incentives.&nbsp;&nbsp;The Committee shall prescribe the provisions of the substitute Awards. </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(b)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Rights to Awards</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;No Eligible Person, Participant or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Eligible Persons, Participants or holders or beneficiaries of Awards under the Plan.&nbsp;&nbsp;The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different Participants.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057939"></a><a name="_Toc91058140"></a><a name="_Toc245720601"></a><a name="_Toc91046821"></a><a name="_Toc91047056"></a><font style="display:inline;">(c)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Award Agreements</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;No Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement is issued to, and accepted by, the Participant.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(d)&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Clawback Policies.&nbsp; </font><font style="display:inline;">All Awards under the Plan are subject to the applicable provisions of the Company's clawback or recoupment policy approved by the Board, if any, as such policy may be in effect from time to time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057940"></a><a name="_Toc91058141"></a><a name="_Toc245720602"></a><a name="_Toc91046822"></a><a name="_Toc91047057"></a><font style="display:inline;">(e)&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Rights of Shareholders</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;Except with respect to Restricted Stock and Stock Awards, neither a Participant nor the Participant&#x2019;s legal representative shall be, or have any of the rights and privileges of, a shareholder of the Company with respect to any Shares issuable upon the exercise or payment of any Award, in whole or in part, unless and until the Shares have been issued.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057941"></a><a name="_Toc91058142"></a><a name="_Toc245720603"></a><a name="_Toc91046823"></a><a name="_Toc91047058"></a><font style="display:inline;">(f)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Limit on Other Compensation Plans or Arrangements</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional compensation plans or arrangements, and such plans or arrangements may be either generally applicable or applicable only in specific cases.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057942"></a><a name="_Toc91058143"></a><a name="_Toc245720604"></a><a name="_Toc91046824"></a><a name="_Toc91047059"></a><font style="display:inline;">(g)&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Right to Employment or Directorship</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The grant of an Award shall not be construed as giving a Participant the right to be retained as an employee of the Company or any Affiliate, or a Director to be retained as a Director, nor will it affect in any way the right of the Company or an Affiliate to terminate a Participant&#x2019;s employment at any time, with or without cause.&nbsp;&nbsp;In addition, the Company or an Affiliate may at any time dismiss a Participant from employment free from any liability or any claim under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057943"></a><a name="_Toc91058144"></a><a name="_Toc245720605"></a><a name="_Toc91046825"></a><a name="_Toc91047060"></a><font style="display:inline;">(h)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Governing Law</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;The internal law, and not the law of conflicts, of the State of Minnesota, shall govern all questions concerning the validity, construction and effect of the Plan or any Award, and any rules and regulations relating to the Plan or any Award.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057944"></a><a name="_Toc91058145"></a><a name="_Toc245720606"></a><a name="_Toc91046826"></a><a name="_Toc91047061"></a><font style="display:inline;">(i)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Severability</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction or Award, and the remainder of the Plan or any such Award shall remain in full force and effect.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057945"></a><a name="_Toc91058146"></a><a name="_Toc245720607"></a><a name="_Toc91046827"></a><a name="_Toc91047062"></a><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">14</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">(j)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Trust or Fund Created</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person.&nbsp;&nbsp;To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate.</font>
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		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057946"></a><a name="_Toc91058147"></a><a name="_Toc245720608"></a><a name="_Toc91046828"></a><a name="_Toc91047063"></a><font style="display:inline;">(k)&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">No Fractional Shares</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall be cancelled, terminated or otherwise eliminated.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_Toc91057947"></a><a name="_Toc91058148"></a><a name="_Toc245720609"></a><a name="_Toc91046829"></a><a name="_Toc91047064"></a><font style="display:inline;">(l)&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-style:italic;">Headings</font><font style="display:inline;font-style:italic;">.</font><font style="display:inline;"> &nbsp;Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference.&nbsp;&nbsp;Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective Date of the Plan; Effect on 2001 Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The Plan was first adopted by the Board on August 16, 2010 and previously amended and restated and approved by the shareholders as of September 27, 2011 and May 13, 2014; the Plan, as amended and restated herein, was adopted by the Board on March 23, 2016.&nbsp;&nbsp;The Plan as amended and restated herein shall be subject to approval by the shareholders of the Company at the meeting of shareholders of the Company to be held on May 26, 2016, and the amended and restated Plan shall be effective as of the date of such shareholder approval.&nbsp;&nbsp;On and after September 22, 2010, no awards shall be granted under the 2001 Plan, but all outstanding awards previously granted under the 2001 Plan shall remain outstanding in accordance with the terms thereof.&nbsp;&nbsp;All grants to non&#x2013;employee Directors after September 22, 2010 shall be made solely under the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">Section 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term of the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The Plan shall terminate at midnight on March 22, 2026, unless terminated before then by the Board; </font><font style="display:inline;font-style:italic;">provided, however</font><font style="display:inline;">, that no Qualified Performance Award may be granted under the Plan after the fifth year following the year in which the shareholders of the Company approved the Performance Goals, unless and until the Performance Goals are reapproved by the shareholders.&nbsp;&nbsp;Awards may be granted under the Plan until the earlier to occur of the date of termination of the Plan or the date on which all Shares available for Awards under the Plan have been purchased or acquired.&nbsp;&nbsp;As long as any Awards are outstanding under the Plan, the terms of the Plan shall govern such Awards.</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">15</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>axgn-20160527ex5121f88c2.htm
<DESCRIPTION>EX-5.1
<TEXT>
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			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;font-size:10pt;">Exhibit 5.1</font>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">DLA Piper LLP (US)</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">51 John F. Kennedy Parkway, Suite 120</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Short Hills, New Jersey&nbsp;&nbsp;07078</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">www.dlapiper.com</font></p>
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						&nbsp;</p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">T: 973-520-2550</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">F: 973-520-2551</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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						&nbsp;</p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-size:10pt;">Attorneys Responsible for Short Hills Office:</font></p>
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						&nbsp;</p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Andrew P. Gilbert</font></p>
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						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Michael E. Helmer</font></p>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">May 2</font><font style="display:inline;font-size:10pt;">7</font><font style="display:inline;font-size:10pt;">, 2016</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen, Inc.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">13631 Progress Boulevard, Suite 400,</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Alachua, Florida 32615</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:10pt;text-decoration:underline;">AxoGen, Inc. &#x2013; Registration Statement on Form S-8 </font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Dear Ladies and Gentlemen: </font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">We have acted as counsel to AxoGen, Inc., a Minnesota corporation (the &#x201C;Company&#x201D;), in connection with the preparation of a Registration Statement on Form S-8 (the &#x201C;Registration Statement&#x201D;) under the Securities Act of 1933, as amended (the &#x201C;Act&#x201D;). The Registration Statement relates to the registration of 2,000,000 shares (the &#x201C;Plan Shares&#x201D;) of the Company&#x2019;s common stock, par value $0.01 per share (the &#x201C;Common Stock&#x201D;), issuable under the AxoGen, Inc. 2010 Stock Incentive Plan, as amended and restated as of March 23, 2016 (the &#x201C;2010 Incentive Plan&#x201D;), as referenced in the Registration Statement.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In connection with this opinion letter, we have examined the Registration Statement and originals, or copies certified or otherwise identified to our satisfaction, of the Amended and Restated Articles of Incorporation and the Amended and Restated Bylaws of the Company and such other documents, records and other instruments as we have deemed appropriate for purposes of the opinion set forth herein. </font>
		</p>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">We have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of the documents submitted to us as originals, the conformity with the originals of all documents submitted to us as certified, facsimile or photostatic copies and the authenticity of the originals of all documents submitted to us as copies. </font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Based upon the foregoing, we are of the opinion that the Plan Shares have been duly authorized and, when and to the extent issued in accordance with the terms of the 2010 Incentive Plan and any award agreement entered into under the 2010 Incentive Plan, the Plan Shares will be validly issued, fully paid and nonassessable.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The opinion expressed herein is limited to the Minnesota Business Corporation Act.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">We hereby consent to the use of this opinion as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not hereby admit that we are acting within the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules or regulations of the U.S. Securities and Exchange Commission thereunder. </font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Very truly yours, </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">/s/ DLA Piper LLP (US)</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>axgn-20160527ex232d6b4e1.htm
<DESCRIPTION>EX-23.2
<TEXT>
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			<a name="_GoBack"></a><font style="display:inline;font-family:Franklin Gothic Demi;color:#000000;font-size:10pt;">Exhibit 23.2</font>
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						<font style="display:inline;font-family:Franklin Gothic Demi;color:#000000;font-size:10pt;"><img src="axgn20160527ex232d6b4e1001.jpg" style="width: 2.533333in; height: 0.5166667in" alt="Picture 3"></font></p>
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					<p style="margin:0pt;line-height:150%;color:#006699;font-family:Franklin Gothic Book;font-size: 11pt;">
						<font style="display:inline;color:#006699;font-size:11pt;">LurieLLP.com</font></p>
					<p style="margin:0pt;line-height:150%;font-family:Franklin Gothic Book;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">O/612.377.4404</font></p>
					<p style="margin:0pt;line-height:150%;font-family:Franklin Gothic Book;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">F/612.377.1325</font></p>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
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		<p style="margin:0pt;line-height:normal;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-family:Franklin Gothic Demi;color:#000000;font-size:10pt;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">We consent to the incorporation by reference in the Registration Statement on Form S-8 of AxoGen, Inc. pertaining to the AxoGen, Inc. 2010 Stock Incentive Plan of our report dated February 29, 2016 relating to the consolidated financial statements of AxoGen, Inc. and its subsidiary as of and for the years ended December 31, 2015 and 2014, which report appears in AxoGen, Inc.&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2015.</font>
		</p>
		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">/s/ Lurie, LLP</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">Minneapolis, Minnesota</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">May 2</font><font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">7</font><font style="display:inline;font-family:Franklin Gothic Book;color:#000000;font-size:10pt;">, 2016</font>
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		<p style="margin:0pt;line-height:100%;font-family:Franklin Gothic Book;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">2501 Wayzata Boulevard </font><font style="display:inline;color:#006699;font-size:11pt;">&#x2022;</font><font style="display:inline;font-size:11pt;"> Minneapolis, MN 55405</font>

		</p>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
