<SEC-DOCUMENT>0001104659-25-033428.txt : 20250409
<SEC-HEADER>0001104659-25-033428.hdr.sgml : 20250409
<ACCEPTANCE-DATETIME>20250409171055
ACCESSION NUMBER:		0001104659-25-033428
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250409
DATE AS OF CHANGE:		20250409

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KINGSWAY FINANCIAL SERVICES INC
		CENTRAL INDEX KEY:			0001072627
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		ORGANIZATION NAME:           	02 Finance
		EIN:				999999999
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-78501
		FILM NUMBER:		25825868

	BUSINESS ADDRESS:	
		STREET 1:		10 S. RIVERSIDE PLAZA
		STREET 2:		SUITE 1520
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		(312) 766-2144

	MAIL ADDRESS:	
		STREET 1:		10 S. RIVERSIDE PLAZA
		STREET 2:		SUITE 1520
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hannon Gregory Paul
		CENTRAL INDEX KEY:			0001538186
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		OAKMONT CAPITAL INC.
		STREET 2:		45 ST. CLAIR AVENUE WEST, SUITE 400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4V 1K9
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001193125-12-501987</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Hannon Gregory Paul -->
          <cik>0001538186</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>5</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.01 par value per share</securitiesClassTitle>
      <dateOfEvent>03/31/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001072627</issuerCIK>
        <issuerCUSIP>496904202</issuerCUSIP>
        <issuerName>Kingsway Financial Services Inc.</issuerName>
        <address>
          <com:street1>10 S. RIVERSIDE PLAZA, SUITE 1520</com:street1>
          <com:city>CHICAGO</com:city>
          <com:stateOrCountry>IL</com:stateOrCountry>
          <com:zipCode>60606</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Terence M. Kavanagh</personName>
          <personPhoneNum>(416) 923-1477</personPhoneNum>
          <personAddress>
            <com:street1>45 St. Clair Avenue West, Suite 400</com:street1>
            <com:city>Toronto</com:city>
            <com:stateOrCountry>A6</com:stateOrCountry>
            <com:zipCode>M4V 1K9</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001071674</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Oakmont Capital Inc.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>2803619.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>2803619.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>2886119.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.36</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>In reference to Rows 11 and 13 above, see Item 5 herein.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>E.J.K. Holdings Inc.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2803619.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2803619.00</sharedDispositivePower>
        <aggregateAmountOwned>2886119.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.36</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>In reference to Rows 11 and 13 above, see Item 5 herein.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>1272562 Ontario Inc.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2803619.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2803619.00</sharedDispositivePower>
        <aggregateAmountOwned>2886119.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.36</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>In reference to Rows 11 and 13 above, see Item 5 herein.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001538185</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Terence M. Kavanagh</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
        <soleVotingPower>34750.00</soleVotingPower>
        <sharedVotingPower>2803619.00</sharedVotingPower>
        <soleDispositivePower>34750.00</soleDispositivePower>
        <sharedDispositivePower>2803619.00</sharedDispositivePower>
        <aggregateAmountOwned>2886119.00</aggregateAmountOwned>
        <isAggregateExcludeShares>Y</isAggregateExcludeShares>
        <percentOfClass>10.36</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>In reference to Rows 11, 12 and 13 above, see Item 5 herein.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001538186</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Gregory P. Hannon</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
        <soleVotingPower>34000.00</soleVotingPower>
        <sharedVotingPower>2817369.00</sharedVotingPower>
        <soleDispositivePower>34000.00</soleDispositivePower>
        <sharedDispositivePower>2817369.00</sharedDispositivePower>
        <aggregateAmountOwned>2886119.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.36</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>In reference to Rows 11 and 13 above, see Item 5 herein.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, $0.01 par value per share</securityTitle>
        <issuerName>Kingsway Financial Services Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>10 S. RIVERSIDE PLAZA, SUITE 1520</com:street1>
          <com:city>CHICAGO</com:city>
          <com:stateOrCountry>IL</com:stateOrCountry>
          <com:zipCode>60606</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Amendment No. 5 to Schedule 13D (this "Amendment") amends the Statement on Schedule 13D filed on March 5, 2009, as previously amended on December 12, 2012, September 13, 2013, September 20, 2013 and March 21, 2019 (the "Schedule 13D") by Oakmont Capital Inc., an Ontario corporation ("Oakmont"), E.J.K. Holdings Inc., an Ontario corporation ("EJK"), 1272562 Ontario Inc., an Ontario corporation ("1272562"), and Gregory P. Hannon and Terence M. Kavanagh, each of whom is a citizen of Canada (collectively, the "Reporting Persons"). Capitalized terms used herein not otherwise defined shall have the meaning ascribed to them in the Schedule 13D. All references to common stock in this Amendment have been adjusted for the rights offering which expired on September 6, 2013 (the "Rights Offering").</commentText>
      </item1>
      <item4>
        <transactionPurpose>Item 4 of this Schedule 13D is hereby supplemented as follows:

On March 13, 2023, Oakmont converted the previously reported 13,142 Class A Preferred Shares into 82,144 Shares at a conversion price of US$4.00 per Share at the option of Oakmont.

On March 22, 2023, Oakmont exercised the previously reported 463,394 Series B Warrants to purchase the same number of Shares at a price of US$5.00 per Share.

On March 23, 2023, EJK sold 6,000 Shares at US$8.9601. Concurrently, Mr. Kavanagh purchased 6,000 Shares at US$9.0539 through a self-directed Retirement Savings Plan to consolidate Mr. Kavanagh's Share holdings into one account. As a result, as of March 23, 2023, EJK does not directly own any Shares.

On March 23, 2023, 1272562 sold 3,000 Shares at US$8.9125. Concurrently, Mr. Hannon purchased 3,000 Shares at US$8.9119 through a self-directed Retirement Savings Plan to consolidate Mr. Hannon's Share holdings. As a result, as of March 23, 2023, 1272562 does not directly own any Shares.

On September 24, 2024, Oakmont purchased 80,000 Class B Preferred Shares from the Issuer for a purchase price of US$25.00 per Class B Preferred Share, or an aggregate purchase price of US$2,000,000. Each Class B Preferred Share is convertible into 2.6316 Shares (or an aggregate of 210,526 Shares for such 80,000 Class B Preferred Shares) at a conversion price of US$9.50 per share.

On February 12, 2025, Oakmont purchased 40,000 Class C Preferred Shares from the Issuer for a purchase price of US$25.00 per Class C Preferred Share, or an aggregate purchase price of US$1,000,000. Each Class C Preferred Share is convertible into 2.6316 Shares (or an aggregate of 105,263 Shares for such 40,000 Class C Preferred Shares) at a conversion price of US$9.50 per share.

Except as disclosed in Item 6 of this Amendment No. 5, the Reporting Persons have no current plans or proposals which relate to or would result in any of the events described in Items (a) through (j) of the instructions to Item 4 of Schedule 13D. The information set forth in Item 6 of this Amendment No. 5 is incorporated herein by reference.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Item 5(a) and 5(b) of the Schedule 13D is hereby amended, restated and replaced in its entirety by the following:

As of the close of business on April 9, 2025, the Reporting Persons may be deemed to beneficially own, in the aggregate, 2,886,119 Shares, representing approximately 10.36% of the Issuer's outstanding Shares (based upon the 27,537,151 Shares stated to be outstanding as of March 17, 2025 in the Issuer's Form 10-K dated March 17, 2025 for the year ended December 31, 2024 plus 315,789 Shares issuable upon exercise of the Reporting Persons' Series B Warrants and conversion of the Report Persons' Class C Preferred Shares).

Oakmont has sole voting power and sole dispositive power with respect to the 2,803,619 Shares that it owns directly. Oakmont may be deemed to be a beneficial owner of the balance of the 2,886,119 Shares beneficially owned by the Group, by virtue of its participation in the Group.

EJK has shared voting power and shared dispositive power with respect to the 2,803,619 Shares owned directly by Oakmont, by virtue of EJK's ownership of 50% of the outstanding voting stock of Oakmont and its right to nominate one of the two members of the Board of Directors of Oakmont. EJK may be deemed to be a beneficial owner of the balance of the 2,886,119 Shares beneficially owned by the Group, by virtue of its participation in the Group.

1272562 has shared voting power and shared dispositive power with respect to the 2,803,619 Shares owned directly by Oakmont, by virtue of its ownership of 50% of the outstanding voting stock of Oakmont and its right to nominate one of the two members of the Board of Directors of Oakmont. 1272562 may be deemed to be a beneficial owner of the balance of the 2,886,119 Shares beneficially owned by the Group, by virtue of its participation in the Group.

Mr. Kavanagh has sole voting power and sole dispositive power with respect to 34,750 Shares owned through a self-directed Retirement Savings Plan. Mr. Kavanagh has shared voting power and shared dispositive power with respect to the 2,803,619 Shares owned directly by Oakmont, by virtue of Mr. Kavanagh's ownership of all the outstanding voting stock of EJK, and EJK's ownership of 50% of the outstanding voting stock of Oakmont and its right to nominate one of the two members of the Board of Directors of Oakmont. Mr. Kavanagh may be deemed to be a beneficial owner of the balance of the 2,886,119 Shares beneficially owned by the Group, by virtue of his participation in the Group.

Mr. Kavanagh's sister owns directly and through a registered retirement savings account 13,500 Shares as to which Mr. Kavanagh disclaims beneficial ownership.

Mr. Hannon has sole voting power and sole dispositive power with respect to the following 34,000 Shares:

(i) the 29,500 Shares owned directly by him or through a self-directed Retirement Savings Plan; and
(ii) the 4,500 Shares owned directly by two trusts for Mr. Hannon's children; Mr. Hannon is the sole trustee of each such trust.

Mr. Hannon has shared voting power and shared dispositive power with respect to the following 2,817,369 Shares:

(i) the 2,803,619 Shares owned directly by Oakmont, by virtue of his ownership of all of the capital stock of 1272562, and 1272562's ownership of 50% of the outstanding voting stock of Oakmont and its right to nominate one of the two members of the Board of Directors of Oakmont; and
(ii) the 13,750 Shares owned directly by Mr. Hannon's spouse.

Mr. Hannon may be deemed to be a beneficial owner of the balance of the 2,886,119 Shares beneficially owned by the Group, by virtue of his participation in the Group.</percentageOfClassSecurities>
        <numberOfShares>The information set forth in Item 5(a) of this Amendment No. 5 is incorporated herein by reference.</numberOfShares>
        <transactionDesc>The information set forth in Item 4 of this Amendment No. 5 is incorporated herein by reference.

In addition, the following open market purchases were made by Oakmont since the filing of the previous amendment to the Schedule 13D:

Date of Transaction     Amount of Shares Purchased    Average Price Per Share (US$)
June 22, 2022               9,699                                                 5.2876
June 23, 2022               34,660                                               5.3086
June 24, 2022               6,454                                                 5.3511
June 27, 2022               3,858                                                 5.3982
June 29, 2022               25,000                                               5.6661
June 30, 2022               28,986                                               5.6713

In addition, the following open market sales were made by Oakmont since the filing of the previous
amendment to the Schedule 13D:

Date of Transaction     Amount of Shares Sold    Average Price Per Share (US$)
June 12, 2023               24,762                                              8.718
June 13, 2023               15,131                                              8.599
June 15, 2023               15,000                                              8.650
June 16, 2023               12,011                                              8.735
June 20, 2023               17,063                                              8.879
June 21, 2023               4,898                                                8.747</transactionDesc>
      </item5>
      <item6>
        <contractDescription>Item 6 of the Schedule 13D is hereby amended, restated and replaced in its entirety by the following:

On March 31, 2025, David Capital Partners Special Situation Fund, LP ("DCP Special") entered into an option agreement with Oakmont to acquire 500,000 Shares, at an exercise price of US$8.25 per share, which option is exercisable by DCP Special in whole, and not in part, on December 29, 2025 and expires at 5:00 p.m. Eastern Time on December 29, 2025. A copy of the option agreement entered into by Oakmont with DCP Special is attached hereto as Exhibit 99.1.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Exhibit 99.1 - Option Agreement, dated March 31, 2025, by and between Oakmont Capital Inc., as seller, and David Capital Partners Special Situation Fund, LP, as buyer.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Oakmont Capital Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Terence M. Kavanagh</signature>
          <title>Terence M. Kavanagh, President</title>
          <date>04/09/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>E.J.K. Holdings Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Terence M. Kavanagh</signature>
          <title>Terence M. Kavanagh, President</title>
          <date>04/09/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>1272562 Ontario Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Gregory P. Hannon</signature>
          <title>Gregory P. Hannon, President</title>
          <date>04/09/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Terence M. Kavanagh</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Terence M. Kavanagh</signature>
          <title>Terence M. Kavanagh</title>
          <date>04/09/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Gregory P. Hannon</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Gregory P. Hannon</signature>
          <title>Gregory P. Hannon</title>
          <date>04/09/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2511969d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><B>EXHIBIT 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><B><I>EXECUTION VERSION</I></B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>OPTION AGREEMENT</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">THIS OPTION AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of March 31, 2025 (the &ldquo;<U>Effective Date</U>&rdquo;), is entered into by and between
Oakmont Capital Inc. (&ldquo;<U>Seller</U>&rdquo;), on the one hand, and David Capital Partners Special Situation Fund, LP, on the other
hand (&ldquo;<U>Buyer</U>&rdquo;).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.95pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
as of the Effective Date, Seller is the beneficial owner of certain shares of common stock, par value $0.01 per share (&ldquo;<U>Common
Stock</U>&rdquo;), of Kingsway Financial Services, Inc. (the &ldquo;<U>Company</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
Seller desires to grant to Buyer, and Buyer desires to acquire from Seller, an option to purchase 500,000 shares of the Company&rsquo;s
Common Stock (the &ldquo;<U>Option Shares</U>&rdquo;), on the terms and subject to the conditions set forth herein; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
Seller and Buyer are entering into this Agreement as unaffiliated third parties and not as representatives or agents of the Company or
any other person or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE</B></FONT>, in consideration of the mutual representations, warranties and covenants contained in this Agreement and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center"><B>ARTICLE 1.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>PURCHASE AND SALE OF SHARES;
GRANT OF OPTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Grant
of Option</U>. Pursuant to the terms and subject to the conditions of this Agreement, Seller hereby grants to Buyer an option (the &ldquo;<U>Option</U>&rdquo;)
to purchase the Option Shares, at a price equal to the Exercise Price (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">Section 1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Term and Exercise of Option</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Term
of Option</U>.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 37.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 37.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
term of the Option shall commence on the Effective Date and shall terminate, effective at 5:00 pm (EST) (the &ldquo;<U>Expiration Time</U>&rdquo;),
on December 29, 2025 (the &ldquo;<U>Expiration Date</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>For
the avoidance of doubt, it is contemplated by the parties hereto that the Expiration Date shall not be a date on which a trading
blackout applies as may be instituted by the Company in accordance with its &ldquo;Disclosure, Securities Trading and
Confidentiality Policy&rdquo; (as may be amended, the &ldquo;<U>Trading Policy</U>&rdquo;). In the event the Company institutes a
trading blackout in accordance with its Trading Policy that is in effect on the Expiration Date and the Buyer delivers an Exercise
Notice in accordance with <U>Section 1.2(b)</U> below, then the parties hereto will work together in good faith with the Company to
effect the electronic delivery of the Exercise Price and the electronic delivery of the Option Shares as promptly as practicable
after the Expiration Date and, in each case, in no event later than 5:00 pm (EST) on December 31, 2025 (conditioned on compliance
with the Trading Policy and applicable law). To the extent the Trading Policy or applicable law prevent such electronic delivery of
the Exercise Price and the Option Shares by 5:00 pm (EST) on December 31, 2025, then the parties hereto agree that Exercise Price
shall be deposited by Buyer with a mutually agreed escrow agent by 5:00 pm (EST) on December 31, 2025 and that those funds will only
be released from escrow concurrent with the electronic delivery of the Option Shares, which date of electronic delivery of the
Option Shares shall occur on a mutually agreed date within five business days following receipt from the Company&rsquo;s Compliance
Officer (as defined under the Trading Policy) that the trading blackout in effect on the Expiration Date has been lifted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Exercise
of Option</U>.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 37.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 37.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Option may be exercised solely with respect to all, but not less than all, of the Option Shares underlying the Option, at the
discretion of Buyer solely on the Expiration Date by providing written notice of exercise to Seller in accordance with <U>Section <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></U>
below (the &ldquo;<U>Exercise Notice</U>&rdquo;) prior to the Expiration Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 42pt; text-align: justify; text-indent: 34.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Option is exercised in accordance with the preceding paragraph, Buyer shall provide evidence of electronic delivery of the Exercise
Price to Seller (which evidence may consist of Federal Reference Numbers evidencing the transfer of funds for the full amount of the
Exercise Price or such other means of transfer as Buyer and Seller may mutually agree) prior to the Expiration Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Exercise
Price</U>. The exercise price payable upon exercise of the Option shall be equal to $8.25 per Option Share (the &ldquo;<U>Per Share Exercise
Price</U>&rdquo;), for total aggregate consideration equal to $4,125,000 (the &ldquo;<U>Exercise Price</U>&rdquo;), as may be adjusted
pursuant to <U>Section 1.4</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 1.3 <U>Closing</U>.
Subject to <U>Section 1.2(a)(ii)</U>, in the event Buyer delivers the Exercise Notice and Exercise Price to Seller before the Expiration
Time on the Expiration Date, the closing of the sale of the Option Shares (the &ldquo;<U>Closing</U>&rdquo;) shall be effective as of
4:59 pm (EST) on the Expiration Date (the &ldquo;<U>Closing Date</U>&rdquo;), and Seller shall cause the Option Shares to be electronically
delivered in book-entry to Buyer as promptly as practicable but in no event later than December 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">Section 1.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Adjustments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Adjustment
to Option Shares and/or Exercise Price</U>. If the Company shall, at any time after the Effective Date, but prior to the Expiration
Date, effect a subdivision, stock split, stock dividend, reorganization, combination, recapitalization or similar transaction
affecting the outstanding shares of the Company&rsquo;s Common Stock, then the number of Option Shares and the Per Share Exercise
Price shall be equitably adjusted for such subdivision, stock split, stock dividend, reorganization, combination, recapitalization
or similar transaction. Any adjustment under this <U>Section 1.4(a)</U> shall become effective at the close of business of the
Company on the date such subdivision, stock split, stock dividend, reorganization, combination, recapitalization or </FONT>similar
transaction becomes effective. If the Company shall, at any time after the Effective Date, but prior to the Expiration Date, pay a
dividend or make a distribution in cash, securities or other assets to the holders of the Company&rsquo;s Common Stock on account of
such shares of the Company&rsquo;s Common Stock (any such event being referred to herein as a &ldquo;<U>Dividend</U>&rdquo;), then
the Per Share Exercise Price shall be decreased, effective as of the effective date of such Dividend, by the amount of cash and/or
the fair market value (as determined in good faith by the board of directors of the Company) of any securities or other assets paid
to each share of the Company&rsquo;s Common Stock in respect of such Dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Replacement
of Securities upon Reorganization, etc</U>. In the case of any reclassification or reorganization of the outstanding shares of the Company&rsquo;s
Common Stock, or in the case of any merger or consolidation of the Company with or into another entity or conversion of the Company into
another form of entity (other than a consolidation or merger in which the Company is the continuing corporation and that does not result
in any reclassification or reorganization of the outstanding shares of the Company&rsquo;s Common Stock), or in the case of any sale
or conveyance to another entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection
with which the Company is dissolved, Buyer shall thereafter have the right to purchase and receive, upon the basis and upon the terms
and conditions specified in this Agreement and in lieu of the Option Shares immediately theretofore purchasable and receivable upon the
exercise of the rights represented hereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that
Buyer would have received if Buyer had been permitted to and had exercised the Option immediately prior to such event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><U>Other Events</U>. In case any event shall occur affecting the Company as to which none of the provisions of the preceding provisions
of this <U>Section 1.4</U> are strictly applicable, but which would require an adjustment to the terms of the Option in order to (i) avoid
an adverse impact on the Option and (ii) effectuate the intent and purpose of this Agreement, then, Seller and Buyer shall jointly appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights under this Agreement are necessary to effectuate the intent and purpose
of this Agreement and, if such firm determines that an adjustment is necessary, then Seller and Buyer shall adjust the terms of this Agreement
in a manner that is consistent with the adjustment recommended in such opinion.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center"><B>ARTICLE 2.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>REPRESENTATIONS AND WARRANTIES
OF SELLER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">Seller hereby represents and warrants to Buyer as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
<U>Ownership;
Transfer</U>. Seller and its affiliated funds collectively are, and as of the Closing will be, the beneficial owners of all right, title
and interest in the Option Shares, free and clear of all liens and encumbrances, other than as may be set forth in the Company&rsquo;s
organizational documents or restrictions under applicable securities laws.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 2.2 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
<U>Authorization</U>.
Seller has the full right, power and authority to enter into and perform its obligations under this Agreement. This Agreement has been
duly executed and delivered by Seller and, assuming the due execution and delivery of this Agreement by Buyer, will constitute Seller&rsquo;s
valid and binding obligation, enforceable against Seller in accordance with its terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization or other similar laws limiting creditors&rsquo; rights generally or by equitable principles relating to enforceability.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center"><B>ARTICLE 3.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>REPRESENTATIONS AND WARRANTIES
OF BUYER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">Buyer hereby represents and warrants to Seller as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Authorization</U>.
Buyer has the full right, power and authority to enter into and perform its obligations under this Agreement. This Agreement has been
duly executed and delivered by Buyer and, assuming the due execution and delivery of this Agreement by Seller, will constitute Buyer&rsquo;s
valid and binding obligation, enforceable against Buyer in accordance with its terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization or other similar laws limiting creditors&rsquo; rights generally or by equitable principles relating to enforceability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Investment</U>.
Buyer is acquiring the Option Shares, for its own account or accounts or funds over which it holds voting discretion, not otherwise as
a nominee or agent, and not otherwise with the view to, or for resale in connection with, any distribution thereof not in compliance
with applicable securities laws in the United States, and Buyer has, and as of the Expiration Date will have, no present intention of
selling or otherwise distributing the Option Shares, except in compliance with applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt">Section 3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Sophisticated Buyer</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Buyer is a sophisticated investor with knowledge of the subject matter and nature of the transactions contemplated by this Agreement,
including the Company and the purchase and sale of its securities, including the Common Stock and the Option Shares (the &ldquo;<U>Transactions</U>&rdquo;).
Buyer has been advised that its interests may be different from the interests of Seller as it relates to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Buyer
further represents that (i) it has had the opportunity to consult with its accounting, tax, financial and legal advisors to be able
to evaluate the risks involved in connection with the Transactions and to make an informed investment decision with respect to such
Transactions, (ii) Seller is not acting as a fiduciary or financial or investment advisor to Buyer, </FONT>(iii) it is not relying,
and has not relied, upon any statement, advice (whether accounting, tax, financial, legal or other), representation or warranty made
by Seller, the Company or any of their respective affiliates or representatives, except for the representations and warranties
expressly made by Seller in <U>Article 2</U> and (iv) it has had a sufficient amount of time to consider whether to participate in
the Transactions and has, independently and without reliance upon Seller, made its own analysis and decision to participate in the
Transactions and to negotiate the terms thereof and notwithstanding the fact that an affiliate of Seller is currently a director of
the Company and, as a result of such position or otherwise, Seller may have additional or different information, including material
nonpublic information, regarding the Company or any of its affiliates, Buyer deems it appropriate to enter into this Agreement on
the terms hereof.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.8pt; text-align: center"><B>ARTICLE 4.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>GENERAL PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices</U>.
Any notice or other communication required or permitted hereunder, including service of process, must be given in writing and (a) delivered
in person, (b) transmitted by electronic email transmission or (c) mailed by certified or registered mail (postage prepaid), receipt
requested, to the parties and at such address or to such other person as each party shall have last designated. Each such notice or other
communication shall be effective: (i) if given by electronic email transmission, when transmitted to the applicable address so specified
herein (provided that no &ldquo;bounceback&rdquo; or similar &ldquo;undeliverable&rdquo; message is received by the sender thereof);
(ii) if given by mail, three (3) days after such communication is deposited in the mail with first-class postage prepaid, addressed as
aforesaid; or (iii) if given by any other means, when actually received at such address.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Assignment;
Transfer of Rights</U>. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder shall be assignable by
any party hereto without the prior written consent of each other party, and any attempt to assign any right, remedy, obligation or liability
hereunder without such consent shall be void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Entire
Agreement</U>. This Agreement contains the entire agreement between the parties hereto with respect to the subject matter of this Agreement
and supersedes any and all prior or contemporaneous agreements and discussions, whether written or oral, express or implied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Further
Assurances</U>. Each party hereto shall execute and deliver such further instruments and take such further actions as the other party
hereto may reasonably request in order to carry out the intent of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Validity</U>.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, each of which shall remain in full force and effect and in lieu of such invalid or unenforceable provision there shall
be automatically added as part of this Agreement a valid and enforceable provision as similar in terms to the invalid or unenforceable
provision as possible, <U>provided</U> that this Agreement as amended, (i) reflects the intent of the parties hereto, and (ii) does not
change the bargained for consideration or benefits to be received by each party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section
4.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compliance with Law</U>. The parties to this Agreement are aware of
the restrictions imposed by the United States securities laws on the purchase or sale of securities by any person who has received
material, non-public information about the Company and on the communication of such information to any person when it is reasonably
foreseeable that such other person is likely to purchase or sell the Company&rsquo;s securities in reliance upon such information.
All actions of the parties pursuant to this Agreement will be made in compliance with applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Governing
Law; Submission to Jurisdiction</U>. This Agreement and all actions arising out of or in connection with this Agreement shall be governed
by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law provisions of the State
of Delaware or of any other state. Each party hereto, to the fullest extent permitted by law, (i) irrevocably agrees that any claims,
suits, actions or proceedings arising out of or relating in any way to this Agreement shall be exclusively brought in the U.S. District
Court or Delaware State Chancery Court, in each case located in Wilmington, Delaware, (ii) irrevocably submits to the exclusive jurisdiction
of such courts in connection with any such claim, suit, action or proceeding and (iii) irrevocably waives any and all right to trial
by jury in any such claim, suit, action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Section
Headings</U>. The section headings contained herein are for purposes of convenience only, and shall not be deemed to constitute a part
of this Agreement or to affect the meaning or interpretation of this Agreement in any way.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Expenses</U>.
Each party will bear its own fees and expenses incurred in connection with the preparation, execution and performance of this Agreement
and the transactions contemplated hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel
and accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.10&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Construction;
Legal Counsel</U>. Seller and Buyer have each been afforded a reasonable opportunity to engage and consult with its own legal counsel
and any other advisor it deems appropriate, and to participate and have its own legal counsel participate, on its behalf, in the negotiation
of the terms of this Agreement. This Agreement is the result of arm&rsquo;s- length negotiations from equal bargaining positions and
Seller and Buyer have each relied exclusively on its own legal counsel. It is expressly agreed that this Agreement shall not be construed
against any party, and no consideration shall be given or presumption made, on the basis of who drafted this Agreement or any particular
provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.11&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Waivers,
Amendments</U>. No waiver or amendment of this Agreement shall be effective unless such waiver or amendment is in writing and has been
executed by the parties intending to be bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.12&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Counterparts</U>.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. Delivery of an executed counterpart signature page to this Agreement by electronic means (including, without
limitation, DocuSign or portable document format (.pdf)) is as effective as executing and delivering this Agreement in the presence of
the other parties to this Agreement.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 1in">Section 4.13 <U>Term
of Agreement</U>. This Agreement will expire at 5:00 pm (EST) on December 31, 2025; <U>provided</U>, <U>however</U>, that if (per <U>Section
1.2(a)(ii)</U>) the Exercise Price was delivered into escrow, then this Agreement will expire on the first business day after the electronic
delivery of the Option Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75pt; text-align: center"><I>[Remainder of Page Intentionally
Left Blank. Signature Page Follows.]</I></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.95pt; text-indent: 72.85pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.95pt; text-indent: 72.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.95pt; text-indent: 72.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #161616">IN
</FONT><FONT STYLE="color: #2d2d2d">WITNESS </FONT><FONT STYLE="color: #161616">WHEREOF, the parties hereto have </FONT><FONT STYLE="color: #2d2d2d">executed
</FONT><FONT STYLE="color: #161616">this Agreement as of the date first above written.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 242.35pt; color: #161616"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">BUYER:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: #2d2d2d"><FONT STYLE="font-size: 10pt">DAVID CAPITAL PARTNERS
    SPECIAL SITUATION FUND, LP</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Adam Patinkin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Adam Patinkin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Managing Partner of the Fund&rsquo;s General Partner</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">SELLER:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">OAKMONT CAPITAL INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">/s/ Gregory P. Hannon</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616">Gregory P. Hannon</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #161616">Vice President and Director</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010101">[Signatur</FONT><FONT STYLE="color: #2d2d2d">e</FONT>
<FONT STYLE="color: #161616">Page to Option</FONT> <FONT STYLE="color: #2d2d2d">Agreement]</FONT></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.7pt; text-indent: 89.6pt"></P>

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