<SEC-DOCUMENT>0001387131-18-003114.txt : 20180713
<SEC-HEADER>0001387131-18-003114.hdr.sgml : 20180713
<ACCEPTANCE-DATETIME>20180713100011
ACCESSION NUMBER:		0001387131-18-003114
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180823
FILED AS OF DATE:		20180713
DATE AS OF CHANGE:		20180713
EFFECTIVENESS DATE:		20180713

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NANOPHASE TECHNOLOGIES Corp
		CENTRAL INDEX KEY:			0000883107
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS PRIMARY METAL PRODUCTS [3390]
		IRS NUMBER:				363687863
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22333
		FILM NUMBER:		18951737

	BUSINESS ADDRESS:	
		STREET 1:		1319 MARQUETTE DRIVE
		CITY:			ROMEOVILLE
		STATE:			IL
		ZIP:			60446
		BUSINESS PHONE:		6303231200

	MAIL ADDRESS:	
		STREET 1:		1319 MARQUETTE DRIVE
		CITY:			ROMEOVILLE
		STATE:			IL
		ZIP:			60446

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NANOPHASE TECHNOLOGIES CORPORATION
		DATE OF NAME CHANGE:	19970305
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>nanx-def14a_082318.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B><BR>
<B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington,&nbsp;DC&nbsp;20549</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE&nbsp;14A</B></P>

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

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

<P STYLE="font: normal bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; text-transform: uppercase"><B>Proxy
Statement Pursuant to Section&nbsp;14(a) of the<BR>
Securities Exchange Act of&nbsp;1934</B></FONT></P>

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

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

<P STYLE="margin-top: 0; margin-bottom: 0; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">&nbsp;</FONT></P>

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<TR STYLE="font: normal 10pt Times New Roman, Times, Serif">
<TD NOWRAP STYLE="width: 25%; font: normal 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">Filed
by the Registrant</FONT></TD>
<TD STYLE="width: 15%; font: normal 10pt/115% Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">&#9746;</FONT></TD>
    <TD NOWRAP STYLE="width: 40%; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">Filed
    by a Party other than the Registrant</FONT></TD>
    <TD STYLE="width: 20%; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">&#9744;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check the appropriate box:</P>

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

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<TD STYLE="width: 8%; text-align: center; line-height: 115%">&#9744;</TD>
<TD STYLE="width: 92%; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Preliminary Proxy Statement</FONT></TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%">&nbsp;</TD>
<TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%"> &#9744;</TD>
<TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use
of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT></TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%">&nbsp;</TD>
<TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%">&#9746;</TD>
<TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Definitive Proxy Statement</FONT></TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%">&nbsp;</TD>
<TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%"> &#9744;</TD>
<TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Definitive Additional Materials</FONT></TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%">&nbsp;</TD>
<TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
<TD STYLE="text-align: center; line-height: 115%"> &#9744;</TD>
<TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting Material Pursuant to &sect;240.14a-12</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 24pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt"><B></B></FONT></P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="background-color: white"><B>NANOPHASE TECHNOLOGIES
CORPORATION</B></FONT></P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="background-color: white"><B></B></FONT></P>

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<P STYLE="font: 22pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="background-color: white"><B></B></FONT></P>



<P STYLE="font: 24pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 24pt Times New Roman, Times, Serif"><B></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Registrant as Specified
in Its Charter)</B></P>

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

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

<P STYLE="font: bold 10pt/107% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>

<HR ALIGN="LEFT" NOSHADE STYLE="color: Black; width: 100%; height: 1pt; margin-top: 0; margin-bottom: 0">
<P STYLE="font: bold 10pt/107% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</B></FONT></P>



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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Payment of Filing Fee (Check the appropriate box):</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR>
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
fee required.</FONT></TD></TR>
<TR>
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and&nbsp;0-11.</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 5%; text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 5%; text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
<TD STYLE="width: 90%; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
of each class of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
number of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on
which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed
maximum aggregate value of transaction:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
fee paid:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
paid previously with preliminary materials.</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="vertical-align: top; text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of
its filing.</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="vertical-align: top; text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount
Previously Paid:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form,
Schedule or Registration Statement No.:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing
Party:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
Filed:</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD STYLE="text-align: center; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="text-align: left; font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 61px; width: 160px">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1319 Marquette Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Romeoville, Illinois 60446</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 112.2pt 0 0; text-align: right">July 13, 2018</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">On behalf of the Board of Directors,
I invite you to attend the 2018 Annual Meeting of Stockholders of Nanophase Technologies Corporation to be held at our corporate
headquarters, 1319 Marquette Drive, Romeoville, Illinois, on Thursday, August 23, 2018 at 8:30 a.m., Central time. The formal notice
of the Annual Meeting appears on the following page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;We are pleased to take advantage
of the Securities and Exchange Commission rule allowing companies to furnish proxy materials to their stockholders over the Internet.
On or about July 13, 2018, we mailed a Notice of Internet Availability of Proxy Materials to the majority of our stockholders,
and on or about the same date we mailed to our other stockholders who have requested it a copy of our 2018 Proxy Statement and
a proxy card. The Notice of Internet Availability of Proxy Materials contains instructions on how to access the Proxy Statement
and our Annual Report on Form 10-K for the year ended December&nbsp;31, 2017 and how to vote online, by phone, in person or by
mail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;The attached Notice of Annual Meeting
and Proxy Statement describe the matters that we expect to be acted upon at the Annual Meeting. Management will be available to
answer any questions you may have immediately after the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;Whether or not you choose to attend
the Annual Meeting, it is important that your shares be represented. Regardless of the number of shares you own, please vote your
shares via telephone, over the Internet or, if you received a proxy card, sign and date the proxy card and promptly return it to
us in the postage paid envelope provided. If you sign and return your proxy card without specifying your choices, your shares will
be voted in accordance with the recommendations of the Board of Directors contained in the Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;You are welcome to attend the August
23, 2018 meeting, and I urge you to vote over the Internet, via telephone or by mail as soon as possible.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ JESS A. JANKOWSKI</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jess A. Jankowski</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 61px; width: 160px">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS&nbsp;<BR>
TO BE HELD ON AUGUST 23, 2018</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Annual Meeting of Stockholders of
Nanophase Technologies Corporation (the &#8220;Company&#8221;) will be held at 8:30 a.m., Central time, on Thursday, August 23,
2018, at the Company&#8217;s corporate headquarters, 1319 Marquette Drive, Romeoville, Illinois, for the following purposes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>To elect one Class III director to the Company&#8217;s Board of Directors;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>To ratify the appointment by the Company&#8217;s Audit and Finance Committee of RSM US LLP as the independent auditors of the
Company&#8217;s financial statements for the year ending December 31, 2018; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>To transact such other business as may properly come before the meeting or any adjournments thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The foregoing items of business are more
fully described in the accompanying Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors has fixed
the close of business on June 28, 2018 as the record date for determining stockholders entitled to notice of, and to vote at, the
Annual Meeting.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; layout-grid-mode: line; text-align: justify; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">By order of the Board of Directors,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0; text-align: justify; border-bottom: Black 1pt solid">/s/ JAIME ESCOBAR </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0; text-align: justify">Jaime Escobar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0; text-align: justify">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">July 13, 2018</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ALL STOCKHOLDERS ARE URGED TO ATTEND THE MEETING IN PERSON OR
BY PROXY. WHETHER OR NOT YOU EXPECT TO BE PRESENT AT THE MEETING, PLEASE VOTE. INSTRUCTIONS REGARDING THE VARIOUS METHODS OF VOTING
ARE CONTAINED IN THE NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS AND ON THE PROXY CARD, INCLUDING HOW TO VOTE BY TOLL-FREE
TELEPHONE NUMBER OR VIA THE INTERNET. IF YOU RECEIVED A PAPER COPY OF YOUR PROXY CARD BY MAIL, YOU MAY STILL VOTE YOUR SHARES BY
MARKING YOUR VOTES ON THE PROXY CARD, SIGNING AND DATING IT AND MAILING IT IN THE ENVELOPE PROVIDED.</B></P>

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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1319 Marquette Drive<BR>
Romeoville, Illinois 60446<BR>
(630) 771-6708</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The accompanying proxy is solicited by
the Board of Directors (the &#8220;Board of Directors&#8221; or the &#8220;Board&#8221;) of Nanophase Technologies Corporation,
a Delaware corporation (the &#8220;Company,&#8221; &#8220;Nanophase,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221;),
for use at the Annual Meeting of Stockholders (the &#8220;Annual Meeting&#8221;) to be held at 8:30 a.m., Central time, Thursday,
August 23, 2018, at our corporate headquarters, 1319 Marquette Drive, Romeoville, Illinois, and any adjournments thereof. This
Proxy Statement and accompanying form of proxy are first being mailed or made available via the Internet to stockholders on or
about July 13, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Notice of Internet Availability of Proxy Statement and
Annual Report</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As permitted by rules adopted by the
Securities and Exchange Commission (the &#8220;SEC&#8221;), we are making this Proxy Statement and our Annual Report on Form 10-K
for the year ended December 31, 2017 (the &#8220;Annual Report&#8221;) available to our stockholders electronically via the Internet.
On or about July 13, 2018, we mailed to the majority of our stockholders a Notice of Internet Availability of Proxy Materials containing
instructions on how to access this Proxy Statement and our Annual Report and how to vote via the Internet, by phone, in person
or by mail. If you received a Notice of Internet Availability of Proxy Materials by mail, you will not receive a printed copy of
the proxy materials, unless specifically requested. If you received a Notice of Internet Availability of Proxy Materials by mail
and would like to receive a printed copy of the proxy materials you should follow the instructions for requesting such materials
included in the Notice of Internet Availability of Proxy Materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Record Date and Outstanding Shares</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors has fixed the
close of business on June 28, 2018 as the record date (the &#8220;Record Date&#8221;) for the determination of stockholders entitled
to notice of, and to vote at, the Annual Meeting or any adjournments thereof. As of the Record Date, we had outstanding 33,847,793
shares of common stock, par value $0.01 per share (the &#8220;common stock&#8221;). Each outstanding share of common stock is entitled
to one vote on all matters to come before the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Voting of Proxies</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors authorized each
of Jess A. Jankowski and Jaime Escobar to serve as proxy holder in the name of, and on behalf of, the stockholders executing and
returning proxies in connection with the Annual Meeting. Mr. Jankowski is an executive officer of the Company and is also a director
of the Company, while Mr. Escobar is an executive officer and Corporate Secretary of the Company. The shares represented by each
executed and returned proxy will be voted in accordance with the directions indicated thereon, or, if no direction is indicated,
such proxy will be voted in accordance with the recommendations of the Board of Directors contained in this Proxy Statement. Each
stockholder giving a proxy has the power to revoke it at any time before the shares it represents are voted. Revocation of a proxy
is effective upon receipt by the Corporate Secretary of the Company of either (1) an instrument revoking the proxy or (2) a duly
executed proxy bearing a later date. Additionally, a stockholder may change or revoke a previously executed proxy by voting in
person at the Annual Meeting (attendance at the Annual Meeting will not, by itself, revoke a proxy). Stockholders will not have
any rights of appraisal or similar dissenter&#8217;s rights with respect to any matter to be acted upon at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Board Recommendations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors recommends that
you vote your shares &#8220;FOR&#8221; the election of the director nominee and &#8220;FOR&#8221; the ratification of the appointment
of RSM US LLP as the independent auditors of our financial statements for the year ending December 31, 2018.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Quorum and Required Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The required quorum for transaction of
business at the Annual Meeting will be a majority of the shares of common stock issued and outstanding and entitled to vote at
the Annual Meeting, represented in person or by proxy. Votes cast by proxy or in person at the Annual Meeting will be tabulated
by the election inspectors appointed for the meeting and will determine whether or not a quorum is present. Abstentions and broker
non-votes will be included in determining the presence of a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>Proposal 1.&nbsp;</I>The vote of a
plurality of the shares of common stock voted in person or by proxy is required to elect the nominee for Class III director. Stockholders
will not be allowed to cumulate their votes in the election of directors. Abstentions and broker non-votes will have no effect
on the outcome of the vote on the election of the director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>Proposal 2.&nbsp;</I>The affirmative
vote of a majority of the shares of common stock represented in person or by proxy is required to ratify the appointment of RSM
US LLP as the independent auditors of our financial statements for the year ending December 31, 2018. Abstentions will be considered
present and entitled to vote with respect to ratifying the appointment of our independent auditors and will have the same effect
as votes &#8220;against&#8221; such proposal. Broker non-votes will have no effect on the outcome of the vote to ratify the appointment
of our independent auditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Annual Report to Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Annual Report, containing financial
and other information pertaining to the Company, is being furnished to stockholders simultaneously with this Proxy Statement. Printed
copies will be made available upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Householding</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have adopted an SEC-approved procedure
called &#8220;householding.&#8221; Under this procedure, we may deliver a single copy of the Notice of Internet Availability of
Proxy Materials and, if applicable, this Proxy Statement and the Annual Report to multiple stockholders who share the same address
unless we have received contrary instructions from one or more of the stockholders. This procedure reduces the environmental impact
of our annual meetings, and reduces our printing and mailing costs. Stockholders who participate in householding will continue
to receive separate proxy cards if they received a printed set of the proxy materials. Upon written or oral request, we will deliver
promptly a separate copy of the Notice of Internet Availability of Proxy Materials and, if applicable, this Proxy Statement and
the Annual Report to any stockholder at a shared address to which we delivered a single copy of any of these documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">To receive free of charge a separate
copy of the Notice of Internet Availability of Proxy Materials and, if applicable, this Proxy Statement or the Annual Report, or
separate copies of any future notice, proxy statement or annual report, or if you are receiving multiple copies of the&nbsp;Notice
of Internet Availability of Proxy Materials, Proxy Statement and/or Annual Report and would like to receive only one copy, stockholders
may write or call us at Nanophase Technologies Corporation, 1319 Marquette Drive, Romeoville, Illinois 60446, Attention: Nancy
Baldwin, Vice President&#8212;Human Resources and Investor Relations, (630) 771-6708.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROPOSAL 1<BR>
ELECTION OF DIRECTOR</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our Board of Directors currently consists of
seven directors. Article VI of our Certificate of Incorporation provides that the Board of Directors shall be classified with respect
to the terms for which its members shall hold office by dividing the members into three classes, each serving three year terms.
The one Class III director whose term expires at the Annual Meeting is George A. Vincent, III.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As a result, at the Annual Meeting, one Class
III director will be elected for a term of three years expiring at our 2021 Annual Meeting of Stockholders. We prepared the following
director summary using information furnished to us by the director nominee. The nominee is presently serving as a director of the
Company. See &#8220;Nominee&#8221; below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If at the time of the Annual Meeting the nominee
should be unable or decline to serve, the persons named in the proxy will vote for such substitute nominee as the Board of Directors
recommends, or vote to allow the vacancy created thereby to remain open until filled by the Board of Directors, as the Board of
Directors recommends. The Board of Directors has no reason to believe that the nominee will be unable or decline to serve as a
director if elected.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The six directors whose terms of office do not
expire in 2018 will continue to serve after the Annual Meeting until such time as their respective terms of office expire or their
successors are duly elected and qualified. See &#8220;Other Directors&#8221; below. There is no family relationship between any
director or executive officer of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>THE BOARD OF DIRECTORS RECOMMENDS THAT THE STOCKHOLDERS VOTE
&#8220;FOR&#8221; THE ELECTION OF THE NOMINEE NAMED BELOW.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The name of the nominee for the office of director,
together with certain information concerning such nominee, is set forth below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 42%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 74.15pt; padding-left: 0; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;<B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-left: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Position with Company</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: black 1pt solid; padding-right: 5.05pt; padding-left: 5.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Served as Director Since</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">George A. Vincent, III</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">74</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Mr. Vincent </B>has served as a director
of the Company since November 2007. He is the retired Chairman and President of The HallStar Company, where he served as CEO for
twenty years. HallStar is a chemical manufacturer and innovator specializing in material science, marketing its products worldwide,
primarily into the polymer and personal care industries. Prior to HallStar, Mr. Vincent held positions in purchasing, sales, commercial
development and strategic planning with FMC Corporation (chemicals) and General Electric Company (chemicals and plastics). Mr.
Vincent has served as Chairman of the Illinois Manufacturers&#8217; Association (IMA) and the Chemical Industry Council of Illinois
(CICI), as well as Director of the American Chemistry Council (ACC). Mr. Vincent serves on the boards of several closely-held companies
in the chemicals and materials industry sector. Mr. Vincent holds a Bachelor of Arts degree in Chemistry from Dartmouth College
and an M.B.A. degree from Harvard Business School. We believe that Mr. Vincent&#8217;s extensive experience in the chemicals industry
and management leadership makes him a valuable member of our Board of Directors.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following persons will continue to
serve as directors of the Company after the Annual Meeting until their terms of office expire (as indicated below) or until their
successors are duly elected and qualified. We prepared the following director summaries using information furnished to us by the
directors.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;<B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-left: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Position with Company</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 5.05pt; padding-left: 5.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Served as Director Since</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 10.75pt; padding-left: 11.4pt; text-align: center; text-indent: 4pt"><FONT STYLE="font-size: 10pt"><B>Term Expires</B></FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">James A. Henderson</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">84</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman of the Board of Directors</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">2001</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2019</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">I</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">James A. McClung, Ph.D.</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">80</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">2000</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2019</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">I</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">R. Janet Whitmore</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">63</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">2003</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2019</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">I</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jess A. Jankowski</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">President, Chief Executive Officer </FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">and Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">2009</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2020</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">II</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Richard W. Siegel, Ph.D.</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">81</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">1989</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2020</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">II</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">W. Ed Tyler</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">65</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-left: 14.75pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 16.45pt; padding-left: 16.2pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2020</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 12pt; padding-left: 12pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">II</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Mr. Henderson </B>has served as a
director of the Company since July 2001 and Chairman of the Board of Directors since August 2011. He retired as Chairman and Chief
Executive Officer of Cummins Engine Company (now Cummins Inc.) in December 1999, after joining the company in 1964. Mr. Henderson
became President and Chief Operating Officer of Cummins in 1977, was promoted to President and Chief Executive Officer in 1994
and served as Chairman and Chief Executive Officer from 1995 until his retirement in 1999. Mr. Henderson attended Culver Military
Academy, holds an A.B. in public and international affairs from Princeton University and an M.B.A. from Harvard Business School.
Mr. Henderson previously served as a director of AT&amp;T, Inc., International Paper, Rohm &amp; Haas, Hillenbrand, Inc., Inland
Steel, and Ryerson, Inc. He serves as Chairman Emeritus of the Board of the Culver Education Foundation and is a past Chair of
the Princeton University Board of Trustees. We believe that Mr. Henderson&#8217;s extensive and diverse background in corporate
leadership in technology-based companies, operations experience, and business acumen makes him a valuable member of our Board of
Directors.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Mr. McClung </B>has served as a director
of the Company since February 2000, and is chair of the Audit and Finance Committee. Currently he is Chair and CEO of Lismore International,
a global business advisory firm. He retired as a senior vice president and executive officer for FMC Corporation (which has since
split into three public corporations: FMC Corporation; TechnipFMC; JB Technologies), a leading producer of a diversified portfolio
of chemicals and machinery. He has over 30 years of global business development and operational experience in over 75 countries.
This includes managing and developing new technologies and operational processes, and strategic partnerships, for diversified global
businesses, including specialized chemicals, process machinery, and health care systems while living in the United States, Europe
and Africa. In addition to serving currently on the Boards of Directors of the Company and 4 D Healthware, and the Nuseed advisory
board, he previously served on other corporate boards: Amway Corporation; NCCI; Turtle Wax; Beaulieu Corporation; and Hu-Friedy.
He was a founding member of the US-Russia Business Council and is active in other international business organizations, such as
Japan American Society, Chicago Council on Global Affairs, Economic Club of Chicago and the Executive Club of Chicago. He is an
active Emeritus Trustee for the College of Wooster (Ohio). Mr. McClung earned a bachelor&#8217;s degree from the College of Wooster
(Ohio), master&#8217;s degree from the University of Kansas, and a doctorate from Michigan State University. We believe that Mr.
McClung&#8217;s extensive global business development and worldwide management experience, including experience in the specialty
chemical industry, make him a valuable member of our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Ms. Whitmore </B>joined the Board
in November 2003. She is a former director of Silverleaf Resorts, Inc., where she served as Chairman of the Compensation Committee
and as a member of the Audit Committee. She is also a former director of Epoch Biosciences, a supplier of proprietary products
used to accelerate genomic analysis. Ms. Whitmore is Founder of Benton Consulting, LLC, which specializes in business development
and processes. From 1976 through 1999, Ms. Whitmore held numerous engineering and finance positions at Mobil Corporation, including
Mobil&#8217;s Chief Financial Analyst and Controller of Mobil&#8217;s Global Petrochemicals Division. Ms. Whitmore holds a B.S.
degree in Chemical Engineering from Purdue University and an M.B.A. from Lewis University. We believe that Ms. Whitmore&#8217;s
combination of global financial, engineering, and management expertise makes her a valuable member of our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Mr. Jankowski </B>joined the Board
in February 2009. He has served as the Company&#8217;s President and Chief Executive Officer since that time. Mr. Jankowski also
served as the Company&#8217;s principal financial officer and principal accounting officer from November 2017 until March 2018.
After joining the Company in 1995, Mr. Jankowski held offices including Vice President of Finance, Chief Financial Officer, Secretary,
Treasurer and Controller. From 1990-1995 he served as Controller for two building and public works contractors in the Chicago area,
during which time he had significant business development responsibilities. From 1986 to 1990, he worked for Kemper Financial Services
in their accounting control corporate compliance unit, serving as unit supervisor during his last two years. Mr. Jankowski holds
a B.S. from Northern Illinois University and an M.B.A. from Loyola University. He served on the TechAmerica Midwest Board from
2008 to 2012 and was a past member of the TechAmerica Midwest CFO Committee. He was appointed to the Advisory Board of the Nanobusiness
Commercialization Association in 2009. Mr. Jankowski was also appointed to the Romeoville Economic Development Commission and served
from 2004 to 2010. He has also served on the advisory board of NITECH (Formerly WESTEC), an Illinois Technology Enterprise Center
focusing on the commercialization of advanced manufacturing technologies from 2003 to 2008. In 2009, Mr. Jankowski was appointed
to the board of directors of the Northern Illinois Technology Foundation, an economic development and technology transfer entity
that is part of Northern Illinois University. We believe that Mr. Jankowski&#8217;s long-term and intimate experience with the
Company&#8217;s operations, along with his financial and management expertise, makes him a valuable member of our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Dr. Siegel </B>is a co-founder
of the Company and has served as a director of the Company since 1989. Dr. Siegel served as a consultant to the Company from
1990 to 2002 with regard to the application and commercialization of nanomaterials. Dr. Siegel is an internationally
recognized scientist in the field of nanomaterials. During his tenure on the research staff at Argonne National Laboratory
from July 1974 to May 1995, he was the principal scientist engaged in research with the laboratory-scale synthesis process
that was the progenitor of the Company&#8217;s physical-vapor-synthesis production system. Dr. Siegel has been the Robert W.
Hunt Professor in Materials Science and Engineering at Rensselaer Polytechnic Institute since June 1995, and served as
Department Head from 1995 to 2000. Dr. Siegel was the founding Director of both the Rensselaer Nanotechnology Center
(2001-2015) and the U.S. National Science Foundation funded Nanoscale Science and Engineering Center for Directed Assembly of
Nanostructures (2001-2013). During the period from 1995 until 1998, he was also a visiting professor at the Max Planck
Institute for Microstructure Physics in Germany on an Alexander von Humboldt Research Prize received in 1994. During the
period from 2003 until 2004 he was a visiting professor in Japan on a RIKEN Eminent Scientist Award. He chaired the World
Technology Evaluation Center worldwide study of nanostructure science and technology for the U.S. government, has served on
the Council of the Materials Research Society and as Chairman of the International Committee on Nanostructured Materials. He
also served on the Committee on Materials with Sub-Micron Sized Microstructures of the National Materials Advisory Board and
was the co-chairman of the Study Panel on Clusters and Cluster-Assembled Materials for the U.S. Department of Energy. He
served on the Nanotechnology Technical Advisory Group to the U.S. President&#8217;s Council of Advisors on Science and
Technology during 2003-2009. Dr. Siegel holds an A.B. degree in physics from Williams College and an M.S. degree and
Ph.D. from the University of Illinois at Urbana-Champaign. We believe that Dr. Siegel&#8217;s value to our Board of
Directors, as co-founder of the Company and inventor of our initial base technology, is self-explanatory.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Mr. Tyler </B>joined Nanophase as
a director in January 2011. Mr. Tyler is Chairman of the Board of First Industrial Realty Trust, where he has served as a director
since 2000. He has also served in recent leadership positions at Ideapoint Ventures, an early stage venture fund that focuses on
nanotechnologies, and Industrial Nanotech, Inc., an entity which develops and sells nanomaterial solutions. Previously, Mr. Tyler
served as President and CEO of Moore Corporation Limited, a provider of data capture, information design, marketing services, digital
communications and print solutions. Mr. Tyler also worked for 24 years with R. R. Donnelley &amp; Sons Company in Chicago, beginning
his career as an electronics engineer and ultimately serving as Executive Vice President, Sector President, and Chief Technology
Officer. He also was responsible for 77 Capital, an early stage venture capital subsidiary of Donnelley, where he was directly
responsible for investment decisions and worked closely with the portfolio companies while participating on many of their boards.
Mr. Tyler is a former Chairman of the American Red Cross (Mid-America Chapter) and Campaign Chairman of the United Way of Lake
County, and serves as a director for several small, private companies. He is a member of the Board of Directors of Lake Forest
Graduate School of Management, where he is also an adjunct faculty member. We believe that Mr. Tyler&#8217;s extensive and diverse
background in corporate leadership in technology-based companies, operations experience, and business acumen makes him a valuable
member of our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25pt 8pt 0"><B>Director Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Upon first being elected to the Board
of Directors, each director of the Company who is not an employee or consultant of the Company (an &#8220;Outside Director&#8221;)
is granted stock options to purchase shares of common stock at the closing price as of the date of issuance. This initial option
grant to an Outside Director typically vests over three years, but may accelerate upon termination from the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In 2017, we paid quarterly compensation
to the Chairman of the Board of Directors, for an annual total of $22,000. We paid quarterly compensation to the Chairman of the
Audit and Finance Committee and to the Chairman of the Compensation Committee totaling $18,000 to each. Each of our other Outside
Directors was paid quarterly compensation for an annual total of $16,000 per Outside Director for services performed in their capacity
as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">During the first quarter of 2017, we
granted our Outside Directors stock options totaling 69,000 shares under the 2010 Equity Compensation Plan, as amended (the &#8220;2010
Equity Plan&#8221;), as follows: the Chairman of the Board of Directors received stock options to purchase 15,000 shares of our
common stock, the Chairman of the Audit and Finance Committee and the Chairman of the Compensation Committee each received stock
options to purchase 12,000 shares of our common stock and each of our other Outside Directors received stock options to purchase
10,000 shares of our common stock. Our Outside Directors had the following shares of our common stock underlying stock options
(both vested and unvested) outstanding as of December 31, 2017: Mr. Henderson: 65,150 shares; Mr. McClung: 96,270 shares; Mr. Vincent:
86,850 shares; Ms. Whitmore: 81,100 shares; Dr. Siegel: 81,100 shares; and Mr. Tyler: 76,520 shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In 2005, we adopted, and our stockholders
approved, the 2005 Non-Employee Director Restricted Stock Plan (the &#8220;Director Restricted Stock Plan&#8221;) which reserved
150,000 shares of our common stock to be issued to Outside Directors in the form of restricted shares. In 2005, no awards were
made under the Director Restricted Stock Plan. In 2005, we also adopted the Non-Employee Director Deferred Compensation Plan (the
&#8220;Director Deferred Compensation Plan&#8221;) which permits an Outside Director to defer the receipt of director fees until
separation from service or such time as the Company undergoes a change in control. We amended the Director Restricted Stock Plan
in 2005 to permit an Outside Director to defer receipt of restricted stock granted under it. The deferred restricted shares are
accounted for under the Director Deferred Compensation Plan and issued upon separation from service or the Company&#8217;s change
in control. Under the Director Deferred Compensation Plan, the deferred fees that would have been paid in cash are deemed invested
in 5-year U.S. Treasury Bonds during the deferral period. The accumulated hypothetical earnings are paid following the Outside
Director&#8217;s separation from service or the Company&#8217;s change in control. The deferred fees that would have been paid
as restricted shares are deemed invested in our common stock during the deferral period. The Director Deferred Compensation Plan
is an unfunded, nonqualified deferred compensation arrangement. In 2009, all Outside Directors elected to defer receipts of all
of the restricted shares they became entitled to under the Director Restricted Stock Plan, which was consolidated into the 2010
Equity Plan.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All Outside Directors are reimbursed for their
reasonable out-of-pocket expenses incurred in attending board and committee meetings.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="font-weight: bold; text-align: center"><U>2017 Outside Director Compensation</U></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="text-align: right"><U>&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Fees Earned</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>or Paid in</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Cash</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>($)</U></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Option</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Awards</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>($) (1)</U></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total ($)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 5%; background-color: White">&nbsp;</TD>
    <TD STYLE="width: 51%; text-align: left">James A. Henderson</TD><TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">22,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">8,193</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,193</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left">James A. McClung</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">18,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,554</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,554</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left">W. Ed Tyler</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">18,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,554</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,554</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left">R. Janet Whitmore</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">21,462</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left">George A. Vincent, III</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">21,462</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left">Dr. Richard Siegel</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">21,462</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="layout-grid-mode: line; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amounts in this column represent the aggregate grant date fair value of awards granted in fiscal 2017 in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification Topic 718, <I>Compensation&#8212;Stock Compensation</I> (&#8220;FASB ASC Topic 718&#8221;). See Note 10 of the notes to our financial statements contained in Part II, Item 8 of our Annual Report for a discussion of all assumptions made by us in determining the FASB ASC Topic 718 values.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Director Independence</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Board of Directors has determined
that the following directors are &#8220;independent&#8221; as that term is defined in the rules and regulations of the SEC and
the Nasdaq Stock Market (&#8220;Nasdaq&#8221;): Mr. McClung, Mr. Henderson, Dr. Siegel, Mr. Tyler and Mr. Vincent. Though we are
no longer listed on Nasdaq, our Board of Directors used the Nasdaq listing standards in making its independence determinations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><B>Meetings of the Board and Committees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">During the year ended December 31, 2017,
the Board of Directors held five meetings, all of which were attended by each director. No director missed more than one committee
meeting (for committees on which they served) during 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Committees of the Board of Directors
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors has established
an Audit and Finance Committee, Compensation Committee and Nominating and Corporate Governance Committee. Each operates in accordance
with its charter (available on our website www.nanophase.com under the &#8220;Investor Relations&#8221; section). The members of
the Audit and Finance Committee are Mr. McClung (Chairman), Mr. Vincent and Dr. Siegel. The members of the Compensation Committee
are Mr. Tyler (Chairman), Mr. Henderson, and Mr. Vincent. The members of the Nominating and Corporate Governance Committee are
Mr. Henderson (Chairman), Mr. McClung, Dr. Siegel, Mr. Vincent, Mr. Tyler and Ms. Whitmore.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Audit and Finance Committee generally
has responsibility for retaining the Company&#8217;s independent public auditors, reviewing the plan and scope of the accountants&#8217;
annual audit, reviewing the Company&#8217;s internal control functions and financial management policies, reviewing and approving
all related party transactions, and reporting to the Board of Directors regarding all of the foregoing. The Audit and Finance Committee
held eight meetings during 2017. The Board of Directors has determined that Mr. Vincent and Mr. McClung are the &#8220;audit committee
financial experts&#8221; as described in applicable SEC rules. Each member of the Audit and Finance Committee is independent, as
defined in applicable SEC and Nasdaq rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Compensation Committee
generally has responsibility for establishing executive officer and key employee compensation, reviewing and establishing the
Company&#8217;s executive compensation policies and practices, evaluating our Outside Director compensation, and reporting to
the Board of Directors regarding the foregoing. The Compensation Committee also has responsibility for administering the 2010
Equity Plan, determining the number of options, if any, to be granted to the Company&#8217;s employees and consultants
pursuant to the 2010 Equity Plan and reporting to the Board of Directors regarding the foregoing. Regarding most compensation
matters, including executive compensation, our management provides recommendations to the Compensation Committee; however,
the Compensation Committee does not delegate any of its functions to others in setting compensation. The Compensation
Committee does not currently utilize external consultants in executive or director compensation matters. The Compensation
Committee held five meetings during 2017. Each member of the Compensation Committee is independent, as defined in applicable
SEC and Nasdaq rules, is a &#8220;non-employee director&#8221; as defined in Rule 16b-3 under the Securities Exchange Act of
1934, as amended (the &#8220;Exchange Act&#8221;), and is an &#8220;Outside Director&#8221; as defined by the regulations
under Section 162(m) of the Internal Revenue Code of 1986, as amended.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Nominating and Corporate Governance
Committee generally has responsibility for evaluating and nominating candidates to serve on the Board of Directors, and for establishing
and reviewing our Corporate Governance Principles. Five of the six members of the Nominating and Corporate Governance Committee
are independent, as defined in applicable SEC and Nasdaq rules. The Nominating and Corporate Governance Committee held one meeting
during 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Nominating and Corporate Governance
Committee considers candidates for membership on our Board who are recommended by stockholders and/or fellow Board members. A stockholder
who wishes to recommend a director candidate for consideration by the Nominating and Corporate Governance Committee should send
such recommendation to our Chief Financial Officer at Nanophase Technologies Corporation, 1319 Marquette Drive, Romeoville, Illinois
60446. Our Chief Financial Officer has been instructed by our Board to forward such stockholder director candidate recommendations
to the Nominating and Corporate Governance Committee. Any such recommendation must include the candidate&#8217;s name, home and
business contact information, detailed biographical data, relevant qualifications, a signed letter from the candidate confirming
willingness to serve, information regarding any relationships between the candidate and the Company and evidence of the recommending
stockholder&#8217;s ownership of common stock. A stockholder who wishes to nominate an individual as a director candidate at an
annual meeting of stockholders, rather than recommend the individual to the Nominating and Corporate Governance Committee as a
nominee, must comply with our advance notice requirements set forth in our By-Laws, as currently in effect, as described below
under &#8220;Miscellaneous and Other Matters &#8211; Proposals of Stockholders.&#8221; The Nominating and Corporate Governance
Committee&#8217;s process for identifying and evaluating nominees for director will be the same whether the nominee is from the
committee&#8217;s search for a candidate, or whether the nominee was recommended by a stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Communications with the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any stockholder desiring to communicate
with the Board of Directors or one or more of its directors may send a letter addressed to the Board of Directors or the applicable
directors in care of the Corporate Secretary at Nanophase Technologies Corporation, 1319 Marquette Drive, Romeoville, Illinois
60446. All such communications must have the sender&#8217;s name, address, telephone number and e-mail address, if any, as well
as a statement of the type and amount of our securities the sender holds and any other interest of the sender in the subject of
the communication or, if the sender is not a stockholder of the Company, a statement of the nature of the sender&#8217;s interest
in the Company. Communications will be forwarded to the proper recipient unless they (a) concern individual grievances or other
interests that could not reasonably be construed to be of concern to the stockholders or other constituencies of the Company, (b)
advocate for the Company to engage in illegal activities, (c) contain offensive, scurrilous or abusive content, or (d) have no
relevance to the business or operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Directors&#8217; Attendance at Annual Meetings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We encourage, but do not require, our
directors to attend our Annual Meeting of Stockholders. When a director is unable to attend an Annual Meeting of Stockholders in
person, but is able to attend by electronic conferencing, we will arrange for the director to participate by other means such that
the director can hear and be heard by those present at the meeting. The entire Board of Directors attended our 2017 Annual Meeting
of Stockholders in person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Board&#8217;s Philosophy in Risk
Oversight, Roles and Diversity </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors considers its
role in risk oversight to focus primarily on evaluating risk at the entity and strategic levels, with management primarily responsible
for managing day-to-day risk factors and presenting summary materials for those positions to the Board of Directors. Consistent
with this philosophy, the Board of Directors has no formal policy as to whether the roles of Chief Executive Officer and Chairman
should be segregated or combined. The Board of Directors considers the circumstances of the Company and makes a determination as
to the appropriate leadership structure for the Company at that time. As of the date of this proxy statement, the positions of
CEO and Chairman are held by two individuals &#8211; Mr. Henderson serves as Chairman and Mr. Jankowski serves as CEO. Mr. Henderson
brings extensive experience in corporate leadership from his own working experience and from the many boards on which he serves
or has served in the past, and Mr. Jankowski is expected to benefit from that experience. The Board of Directors believes this
is the most appropriate structure for the Company at this time. Under our Corporate Governance Principles, in the event that the
Chairman of the Board is not an Outside Director, the Board will elect a lead independent director, who will have the responsibility
to schedule and prepare agendas for meetings of the Outside Directors, communicate with the CEO, disseminate information to the
rest of the Board and raise issues with management on behalf of the Outside Directors when appropriate. The Board evaluates its
leadership structure on an ongoing basis and may change it as circumstances warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors does not have
a stated policy regarding diversity, although pursuant to our Corporate Governance Principles, diversity is one factor that the
Nominating and Corporate Governance Committee considers when recommending directors for stockholder approval. The Board seeks experienced
individuals for service who bring extensive experience in leadership, operations, finance, and engineering,
particularly in areas directly applicable to the Company or its intended future endeavors.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.55pt; text-align: center"><B>EXECUTIVE OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Set forth below is certain information regarding
the executive officers of the Company as of the date of this proxy statement who are not identified as directors in &#8220;Proposal
I Election of Director&#8212;Other Directors&#8221; above. We prepared the following executive officer summaries using information
furnished to us by the executive officers.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; padding-left: 2.5pt; layout-grid-mode: line; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; padding-left: 0.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Age</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Position</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 2.5pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jaime Escobar</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.4pt; padding-left: 0.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">47</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Financial Officer and Corporate Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 2.5pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Kevin Cureton</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.4pt; padding-left: 0.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">56</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Commercial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 2.5pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nancy Baldwin</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.4pt; padding-left: 0.3pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">67</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vice President - Human Resources and Investor Relations</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="background-color: white"><B>Mr.
Escobar</B> has served as the Chief Financial Officer since joining the Company in March 2018 and has served as our Corporate Secretary
since May 2018. Before joining the Company, Mr. Escobar served as the Controller of Abrasic 90 Inc. d/b/a CGW Camel Grinding Wheels,
USA, a manufacturer and distributor of abrasive products, from May 2016 until March 2018. Prior to that, Mr. Escobar served as
Accounting Manager for Termax Corporation, a supplier to the automotive industry, from June 2013 until March 2016; as a Plant Lead
Analyst for Chrysler Group LLC, assigned to a vehicle assembly plant, from June 2012 until June 2013; and as an Accounting Manager
for Midas International Corporation, an automobile services company, from May 2011 until June 2012. He has also served in roles
of increasing responsibility at AMCOL International Corporation, a marketer of diverse specialty materials with a core expertise
in minerals and polymer science, including serving as Assistant Controller of American Colloid Company from October 2004 until
July 2007 and as Controller of AMCOL Health &amp; Beauty Solutions (HBS) from July 2007 until April 2011. Mr. Escobar holds a B.S.
in Accounting with a minor in Business Administration from Northeastern Illinois University, and is a registered CPA in the state
of Illinois.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><B>Mr. Cureton </B>joined the Company
in November 2012 as Vice President of Sales, Marketing and Business Development. Effective January 1, 2018, Mr. Cureton was named
Chief Commercial Officer. His chemical industry experience has spanned more than twenty years with companies including twelve years
at AMCOL, where one of his roles was Managing Director of its nanomaterial-based Health &amp; Beauty Solutions division. Prior
to that, he made significant contributions at Air Products, Borden, and other entities. He holds an undergraduate degree in chemical
engineering from Carnegie Mellon University and an M.B.A. from the University of Chicago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Ms. Baldwin </B>has served as the Director
of Human Resources and Information Technology since joining the Company in 2000. In September of 2008, she was appointed as the
Company&#8217;s Vice President of Human Resources and Investor Relations. Prior to joining Nanophase, she served as Vice President
of iLink Global, and Chief Human Resources Officer at the Marketing Store, a global supplier to McDonald&#8217;s Corporation. Previous
experience includes 14 years at Arthur Andersen, LLP &amp; Andersen Consulting, LLP in various positions. Ms. Baldwin has a B.S.
in Education from Western Illinois University and post-graduate studies at Northern Illinois University. In 2010, Ms. Baldwin was
appointed to the Romeoville Economic Development Commission. She is currently an active member of the Will County Three Rivers
Manufacturing Human Resources Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SECTION 16(a) BENEFICIAL OWNERSHIP
REPORTING COMPLIANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Section 16 of the Exchange Act requires
the Company&#8217;s officers (as defined under Section 16), directors and persons who beneficially own greater than 10% of a registered
class of our equity securities to file reports of ownership and changes in ownership with the SEC. Based solely on a review of
the forms we have received and on written representations from certain reporting persons that no such forms were required for them,
we believe that during 2017 all Section 16 filing requirements applicable to our officers, directors and 10% beneficial owners
were complied with by such persons.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2pt 8pt 0"><B>Summary Compensation Table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table sets
forth a summary of the compensation for each of our named executive officers in U.S. dollars for the years ended December 31, 2017
and 2016.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; border-top: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bonus</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Option<BR>
Awards</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Non-Equity<BR>
Incentive Plan<BR>
Compensation</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>All Other<BR>
Compensation</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Salary</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name and Principal Position</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Year</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(1)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(2)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(3)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(4)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Jess Jankowski</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$317,471</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$44,242</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$21,613</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$383,326</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chief Executive Officer</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$305,831</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$23,247</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$22,960</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$352,038</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Kevin Cureton</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$201,346</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$27,310</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$16,574</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$245,230</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chief Commercial Officer</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$186,411</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$14,656</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$23,666</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$224,733</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Nancy Baldwin</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$157,342</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$19,663</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$9,221</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$186,226</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Vice President Human Resources <BR>
and Investor Relations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$166,686</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10,613</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$9,348</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$186,647</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Frank Cesario</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$166,936</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$19,663</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$2,555</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$189,154</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Former Chief Financial Officer (5)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$169,834</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10,613</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$1,224</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$181,671</FONT></TD></TR>
</TABLE>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any amounts earned during 2017 and 2016 would have been paid in early 2018 and 2017, respectively. Bonus compensation is driven by Company performance against its goals as ultimately determined by the Compensation Committee of the Board of Directors. A set of Company-level objectives is created at the beginning of the year, focusing on total revenue, revenue growth, particular sources of revenue growth, business development achievements, cash flows and related targets, as well as a small discretionary component designed to capture items not specifically listed. Each measure has varying levels of achievement, which is reflected in the aggregate bonus measurement. The resulting bonus calculation is then applied to each individual&#8217;s bonus potential as a percentage of salary. Although total revenue growth was approximately 16% and 4% during 2017 and 2016, respectively, performance targets were not met and thus no bonus was awarded to any of the named executive officers for 2017 or 2016.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amounts in this column represent the aggregate grant date fair value of awards granted in 2017 and 2016 in accordance with FASB ASC Topic 718. See Note 10 of the notes to our financial statements contained in Part II, Item 8 of our Annual Report for a discussion of all assumptions made by us in determining the FASB ASC Topic 718 values.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amounts in this column represent our 401(k) match (total for executive officers of $6,094 during 2017 and none during 2016), health and life insurance. Health insurance benefits are the same for all employees. Life insurance is provided in the amount of one times the individual&#8217;s annual base salary with a maximum of $150,000.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr. Cesario resigned from his position as Chief Financial Officer effective November 17, 2017.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 37.8pt; text-align: justify; text-indent: -0.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><B><I>Employment Agreements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Effective as of August 12, 2009, we entered
into an employment agreement with Jess Jankowski in connection with his services as President and Chief Executive Officer. No term
has been assigned to Mr. Jankowski&#8217;s employment agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Pursuant to the terms of his employment
agreement, Mr. Jankowski will receive an annual base salary of not less than $275,000. In addition, Mr. Jankowski will be eligible
for discretionary bonuses for services to be performed as an executive officer of the Company based on performance and achieving
milestones approved by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Mr. Jankowski will be eligible for such
stock options and other equity compensation as the Board deems appropriate, subject to the provisions of the 2010 Equity Plan.
Mr. Jankowski will also be entitled to the employee benefits made available by us generally to all of our other executive officers,
subject to the terms and conditions of our employee benefit plan in effect from time to time.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">In the event Mr. Jankowski&#8217;s employment
is terminated other than for &#8220;cause&#8221; (as such term is defined in the employment agreement), Mr. Jankowski will receive
a sum equal to Mr. Jankowski&#8217;s base salary in effect at the time of termination for 52 full weeks after the effective date
of termination, payable in proportionate amounts on our regular pay cycle for professional employees, provided that Mr. Jankowski
signs, without subsequent revocation, a separation agreement and release in a form acceptable to us. In addition, all stock options
granted to Mr. Jankowski prior to termination will become fully vested and exercisable in accordance with the applicable option
grant agreement and the 2010 Equity Plan. If he is terminated for cause, or if he resigns as an employee of the Company, Mr. Jankowski
will not be entitled to any severance or other benefits accruing after the term of the employment agreement and such rights will
be forfeited immediately upon the end of such term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">If, within two years after the occurrence
of a change in control, as defined in his employment agreement, Mr. Jankowski&#8217;s employment is terminated other than for cause,
his responsibilities or annual compensation are materially reduced without his prior consent, or we cease to be publicly held (each,
a &#8220;Trigger&#8221;), then, subject to Mr. Jankowski signing, without subsequently revoking, a separation agreement and release
in a form acceptable to us, Mr. Jankowski will receive a sum equal to his base salary for 104 full weeks after the date the Trigger
occurs. In addition, all stock options granted to Mr. Jankowski prior to the Trigger will become fully vested and exercisable in
accordance with the applicable option grant agreement and the 2010 Equity Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Effective as of November 28, 2012, we
entered into an employment agreement with Mr. Kevin Cureton providing for an annual base salary of not less than $190,000. No term
has been assigned to Mr. Cureton&#8217;s employment agreement. If Mr. Cureton is terminated other than for &#8220;cause&#8221;
(as such term is defined in Mr. Cureton&#8217;s employment agreement), Mr. Cureton will receive severance benefits in an amount
equal to Mr. Cureton&#8217;s base salary for 26 weeks. In addition, all stock options granted to Mr. Cureton prior to termination
will become fully vested and exercisable in connection with the applicable option grant agreement and the 2010 Equity Plan. A signing
bonus of $25,000 was paid upon Mr. Cureton&#8217;s acceptance of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Effective as of September 25, 2008, we
entered into an employment agreement with Ms. Nancy Baldwin providing for an annual full-time base salary of not less than $150,000.
No term has been assigned to Ms. Baldwin&#8217;s employment agreement. If Ms. Baldwin is terminated other than for &#8220;cause&#8221;
(as such term is defined in Ms. Baldwin&#8217;s employment agreement), Ms. Baldwin will receive severance benefits in an amount
equal to Ms. Baldwin&#8217;s base salary for 26 weeks. In addition, all stock options granted to Ms. Baldwin prior to termination
will become fully vested and exercisable in connection with the applicable option grant agreement and the 2010 Equity Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Effective as of June 24, 2009, we entered
into an employment agreement with Mr. Frank Cesario providing for an annual base salary of not less than $150,000. We also granted
to Mr. Cesario options to purchase up to 20,000 shares of common stock at an exercise price of $1.07 per share with options for
one-third of such shares becoming exercisable on each of the first three anniversaries of the date of grant. No term was assigned
to Mr. Cesario&#8217;s employment agreement. As subsequently amended during 2012, if Mr. Cesario would have been terminated other
than for &#8220;cause&#8221; (as such term was defined in Mr. Cesario&#8217;s employment agreement), Mr. Cesario would have received
severance benefits in an amount equal to Mr. Cesario&#8217;s base salary for 26 weeks. Mr. Cesario resigned from his position as
Chief Financial Officer effective November&nbsp;17, 2017 and did not receive any severance benefits under his employment agreement
in connection with such resignation.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Outstanding Equity Awards at Fiscal Year-End</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following table sets forth information regarding
each unexercised option held by each of our named executive officers as of December 31, 2017.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">OPTION AWARDS</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">STOCK AWARDS</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; border-bottom: Black 1pt solid">name</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Securities<BR> Underlying<BR> Unexercised<BR> Options<BR> (#)<BR> Exercisable</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Securities<BR> Underlying<BR> Unexercised<BR> Options<BR> (#)<BR> Unexercisable</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Option<BR> Exercise<BR> Price<BR> ($)</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Option<BR> Expiration<BR> Date</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Number<BR> of shares of<BR> stock<BR> that have<BR> not<BR> vested<BR> (#)</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; font-variant: small-caps; text-align: center; border-bottom: Black 1pt solid">Market<BR> value<BR> of shares of<BR> stock<BR> that have<BR> not<BR> vested<BR> ($)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif">Jess Jankowski</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">23,000</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">3.140</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/12/18</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">30,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.020</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/04/19</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">27,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.700</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/03/20</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">85,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.260</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/02/21</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">98,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.300</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">08/07/22</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">90,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.415</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/14/23</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">90,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.520</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/13/24</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">54,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">27,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(1)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.440</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/18/25</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">23,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">46,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(2)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.420</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/23/26</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">81,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(3)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.680</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/21/27</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">Kevin Cureton</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">52,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.300</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11/28/22</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">48,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.415</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/14/23</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">75,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.520</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/13/24</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">33,333</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">16,667</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(1)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.440</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/18/25</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">14,500</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">29,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(2)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.420</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/23/26</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">50,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(3)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.680</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/21/27</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">Nancy Baldwin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">15,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">3.140</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/12/18</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">30,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.020</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/04/19</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">27,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.700</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/03/20</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">31,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.260</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/02/21</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">41,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.300</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">08/07/22</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">39,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.415</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/14/23</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.520</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/13/24</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">24,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">12,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(1)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.440</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/18/25</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">10,500</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">21,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(2)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.420</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/23/26</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">36,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">(3)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.680</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/21/27</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">Frank Cesario (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">20,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.070</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">06/24/19</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">20,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.700</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/03/20</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">31,000</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1.260</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">05/02/21</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">18,204</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.440</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/18/25</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">10,500</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">-0-</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">0.420</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">02/23/26</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 17.4pt 0 27.6pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">The grants expiring February 18, 2025 vested in three equal installments on February 18, 2016, 2017 and 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">The grants expiring February 23, 2026 vest in three equal installments on February 23, 2017, 2018 and 2019.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">The grants expiring February 21, 2027 vest in three equal installments on February 21, 2018, 2019 and 2020.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any options that were unvested and unexercisable upon Mr. Cesario&#8217;s resignation from the Company effective November 17, 2017 were canceled upon his resignation. The options set forth in this table remained exercisable for 90 days after his resignation, at which time any that remained unexercised were canceled.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.15pt 12pt 0"><B>Potential Payment upon Termination or Change in
Control</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B><I>Severance Benefits. </I></B>Please
see discussion of severance benefits under &#8220;Employment Agreements&#8221; above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B><I>Change in Control. </I></B>Upon
a change in control, the 2010 Equity Plan provides that: (1) vesting under all outstanding stock options will automatically accelerate
and each option will become fully exercisable; (2) the restrictions and conditions on all outstanding restricted shares shall immediately
lapse; and (3) the holders of performance shares will receive a payment in settlement of the performance shares, in an amount determined
by the Compensation Committee, based on the target payment for the performance period and the portion of the performance period
that precedes the change in control. If the Company is not the surviving entity, the successor is required to assume all unexercised
options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B><I>Payments. </I></B>The following
table quantifies the estimated payments that would be made in each covered circumstance to the following named executive officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; background-color: White">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Name</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Termination by<BR>
company Without<BR>
Cause (1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Change in<BR>
Control (2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>involuntary</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>termination
        in connection with or following a change in control (3)</B></FONT></P></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 0.5in; layout-grid-mode: line; background-color: White">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jess Jankowski</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">326,011</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,761</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">645,261</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; layout-grid-mode: line; background-color: White">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Kevin Cureton</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">105,485</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,235</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">105,485</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; layout-grid-mode: line; background-color: White">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nancy Baldwin</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">91,061</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,061</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">91,061</FONT></TD>
    <TD STYLE="vertical-align: bottom; layout-grid-mode: line">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">This amount represents the severance benefits that would be received under the executive officer&#8217;s employment agreement had the executive officer been terminated by the Company without cause on December 31, 2017, including the value of any stock options that would have accelerated in connection with such termination. For this purpose, the closing price of our common stock as of December 29, 2017, the last business day of 2017, was used. The amount represents the difference between the exercise price of any unvested options and $0.52.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 0 0.75in; text-indent: -0.45in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">This amount represents an estimate of the value that would have been received under the 2010 Equity Plan had a change in control occurred as of December 31, 2017 and the executive officers benefited from an acceleration of vesting in the 2010 Equity Plan awards, as described above. For this purpose, the closing price of our common stock as of December 29, 2017, the last business day of 2017, was used. The amount represents the difference between the exercise price of any unvested options and $0.52.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.75in; text-indent: -0.45in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">This amount represents an estimate of the payments and value (including acceleration of vesting of equity-based awards) that would have been received by the executive officers had the executive officers been terminated by the Company without cause on December 31, 2017 in connection with a change in control on this date. For this purpose, the closing price of our common stock as of December 29, 2017, the last business day of 2017, was used. The amount represents the difference between the exercise price of any unvested options and $0.52.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.35pt 0 0.75in; text-indent: -0.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our former Chief Financial Officer, Mr. Frank
Cesario, resigned from his position effective November 17, 2017 and did not receive any severance benefits or acceleration of vesting
of his stock options in connection with such resignation.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="nanxa034"></A>SECURITY OWNERSHIP
OF MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>AND PRINCIPAL STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following table sets forth, as of June 28,
2018 certain information with respect to the beneficial ownership of our common stock by (1) each person known by us to own beneficially
more than 5% of the outstanding shares of common stock, (2) each of our directors, (3) each of our named executive officers and
(4) all of our current executive officers and directors as a group. There were 33,847,793 shares of common stock outstanding as
of June 28, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.1pt 0 0.5in; text-indent: 1.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number of<BR>
        Shares<BR>
        Beneficially</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Owned (1)</B></P></TD>
    <TD STYLE="padding-bottom: 1pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Percent of<BR>
        Shares Beneficially</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Owned</B></P></TD>
    <TD STYLE="padding-bottom: 1pt; layout-grid-mode: line; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 78%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bradford T. Whitmore</FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 8%; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,993,599</FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 1%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 8%; layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">47.3</FONT></TD>
    <TD STYLE="width: 1%; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Spurgeon Corporation</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,034,710</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.0</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Grace Brothers, Ltd.</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,433,300</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.2</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">John H. Conley, Jr.</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,340,000</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.9</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">James A. Henderson</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">533,215</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.6</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Richard W. Siegel, Ph.D.</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">461,571</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(7)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.4</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">James A. McClung</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">132,683</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(8)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">W. Ed Tyler</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">65,280</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(9)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">R. Janet Whitmore</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,553,733</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.6</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">George A. Vincent, III</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">98,101</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(11)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jess A. Jankowski</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">613,801</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(12)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.8</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Kevin Cureton</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">270,667</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(13)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nancy Baldwin</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">277,987</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(14)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Frank Cesario</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">83,783</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(15)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">All current executive officers and directors as a group (10 persons)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,007,038</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(16)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.3</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">Unless otherwise indicated below, the person&#8217;s address
is the same as the address for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*Denotes beneficial ownership of less than one percent.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; padding-bottom: 8pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Beneficial ownership is determined in accordance with the rules of the SEC. Unless otherwise indicated below, the persons in the above table have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by them.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes 2,433,300 shares of common stock held by Grace Brothers, Ltd., 601,410 shares of common stock held by Grace Investments, Ltd. and 12,907,435 shares held by Bradford T. Whitmore, as well as 51,454 shares held by his daughter. Mr. Whitmore is a general partner of both Grace entities. In such capacities, Mr. Whitmore shares voting and investment power with respect to the shares of common stock held by the Grace entities. This information is based on information reported on a Form 4 filed on December 21, 2017 with the SEC. The address of the stockholder is 1603 Orrington Avenue, Suite 900, Evanston, Illinois 60201.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes 2,433,300 shares of common stock held by Grace Brothers, Ltd. and 601,410 shares of common stock held by Grace Investments, Ltd. Spurgeon Corporation is a general partner of both Grace entities and shares voting and investment power with respect to the shares of common stock held by such Grace entities. This information is based on information reported on the Form 4 referenced above. The address of the stockholder is 1603 Orrington Avenue, Suite 900, Evanston, Illinois 60201.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">This information is based on information reported on the Form 4 referenced above. The address of the stockholder is 1603 Orrington Avenue, Suite 900, Evanston, Illinois 60201.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">This information is based on information reported on Schedule 13G/A filed with the SEC on December 29, 2017. The address of the stockholder is 8 Rene Carr Street, Elkton, Maryland 21921.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. Henderson&#8217;s 51,100 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Dr. Siegel&#8217;s 71,733 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; padding-bottom: 8pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. McClung&#8217;s 85,030 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018, as well as 30,071 shares held by his spouse.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(9)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. Tyler&#8217;s 65,280 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(10)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Ms. Whitmore&#8217;s 71,733 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018, as well as 238,493 shares held by her children.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(11)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. Vincent&#8217;s 77,483 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(12)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. Jankowski&#8217;s 574,000 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018, as well as 1,000 shares held by his spouse.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(13)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Mr. Cureton&#8217;s 270,667 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(14)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Includes Ms. Baldwin&#8217;s 277,000 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">(15)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Mr. Cesario resigned from his position as Chief Financial Officer effective November 17, 2017. This information is based on Mr. Cesario&#8217;s last Form 4 filing on November 17, 2017.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 0"><FONT STYLE="font-size: 10pt">(16)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Includes all current executive officers and directors as a group&#8217;s 1,544,026 shares of common stock issuable upon exercise of options exercisable currently or within 60 days of June 28, 2018.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><B>Securities Authorized for Issuance under Equity Compensation
Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following table gives information about
our common stock that may be issued upon the exercise of options and rights under our 2010 Equity Plan on December 31, 2017. The
2010 Equity Plan replaced the 2004 Equity Compensation Plan, the 2005 Non-Employee Director Restricted Stock Plan, and the Amended
and Restated 2006 Stock Appreciation Rights Plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; border-bottom: Black 1pt solid">Plan Category</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(a) Number of securities<BR> to be issued upon<BR> exercise of outstanding<BR> options, warrants and<BR> rights</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(b) Weighted -<BR> average exercise<BR> price of<BR> outstanding<BR> options,<BR> warrants and<BR> rights</TD><TD STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(c) Number of securities<BR> remaining available for<BR> future issuance under<BR> equity compensation<BR> plans (excluding<BR> securities reflected in<BR> column (a))</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 43%; font-family: Times New Roman, Times, Serif; text-align: left">Plans Approved by Shareholders</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right">3,228,000</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right">0.73</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right">796,000</TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">Plans Not Approved by Shareholders</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">None</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">None</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under our Audit and Finance Committee&#8217;s
charter, the Audit and Finance Committee must review and approve all related person transactions in which any executive officer,
director, director nominee or more than 5% stockholder, or any of their immediate family members, has a direct or indirect material
interest. The Audit and Finance Committee may not approve a related person transaction unless it is in, or not inconsistent with,
our best interests and, where applicable, the terms of such transaction are at least as favorable to us as could be obtained from
an unrelated third party.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-indent: 0.5in">We did not engage in any transactions
in which a related person had or will have a direct or indirect material interest during 2017 or 2016, except for the December
20, 2017 sale of 2.5 million shares of our common stock and the February 2016 sale of 2.6 million shares of our common stock, both
to our largest stockholder, Bradford T. Whitmore, at a price of $0.40 and $0.38 per share, respectively, for proceeds of $1.0 million
and $988,000, respectively, which were each reviewed and approved in advance by our Audit and Finance Committee pursuant to the
parameters described above. No related person transactions are currently contemplated.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROPOSAL 2</B>&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Report of the Audit and Finance Committee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Audit and Finance Committee reviews
the Company&#8217;s financial reporting process on behalf of the Board of Directors. Management has the primary responsibility
for the financial statements and the reporting process. The Company&#8217;s independent auditor is responsible for performing an
independent audit of the Company&#8217;s financial statements and expressing an opinion on the conformity of the audited financial
statements to generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;The Audit and Finance Committee
has reviewed and discussed with management the Company&#8217;s audited financial statements as of and for the year ended December
31, 2017. The Audit and Finance Committee has discussed with RSM US LLP, the Company&#8217;s independent auditor, the matters required
to be discussed by applicable Public Company Accounting Oversight Board standards. The Audit and Finance Committee has received
and reviewed the written disclosures and the letter required by applicable requirements of the Public Company Accounting Oversight
Board regarding communications with the Audit and Finance Committee concerning independence, and the Audit and Finance Committee
discussed with RSM US LLP their independence from management and the Company. The Audit and Finance Committee has considered whether
the provision of services by RSM US LLP not related to the audit of the financial statements referred to above and to the reviews
of the interim financial statements included in the Company&#8217;s Form 10-Qs are compatible with maintaining RSM US LLP&#8217;s
independence, and has determined that they are compatible and do not impact RSM US LLP&#8217;s independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Based on the reviews and discussions
referred to above, the Audit and Finance Committee recommended to the Board of Directors that the audited financial statements
referred to above should be included in the Company&#8217;s Annual Report on Form 10-K accompanying this Proxy Statement and filed
with the SEC for the year ended December 31, 2017.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>James A. McClung, Chairman</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>George A. Vincent, III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Richard W. Siegel, Ph.D.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Audit and Finance Committee has appointed
RSM US LLP, an independent registered public accounting firm (&#8220;RSM&#8221;), as auditors of our financial statements for the
year ending December 31, 2018. RSM has been engaged as auditors for the Company since November 2001. The Audit and Finance Committee
has determined to afford stockholders the opportunity to express their opinions on the matter of auditors and, accordingly, is
submitting to the stockholders at the Annual Meeting a proposal to ratify the Audit and Finance Committee&#8217;s appointment of
RSM. If a majority of the shares voted at the Annual Meeting, in person or by proxy, is not voted in favor of the ratification
of the appointment of RSM, the Audit and Finance Committee will interpret this as an instruction to seek other auditors. It is
expected that representatives of RSM will be present at the Annual Meeting and will be available to respond to questions. They
will be given an opportunity to make a statement if they desire to do so.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following fees were incurred by the
Company for the services of RSM in relation to the 2017 and 2016 fiscal years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>Audit Fees</U>. The aggregate amount
billed by our principal accountant, RSM, for audit services performed for the fiscal years ended December 31, 2017 and 2016 was
approximately $176,000 and $142,000, respectively. Audit services include the auditing of financial statements and quarterly reviews.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>Audit Related Fees</U>. There were
no audit related fees billed by RSM for the years ended December 31, 2017 and 2016, which may include costs incurred for reviews
of registration statements, assistance with Staff comment letters, and consultation on various accounting matters in support of
our financial statements.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>Tax Fees</U>. There were no fees billed
by our principal accountant for tax related services for the fiscal years ended December 31, 2017 and 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>All Other Fees</U>. Other than those
fees described above, during the fiscal years ended December 31, 2017 and 2016, there were no other fees billed for services performed
by our principal accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">All of the fees described above were
approved by our Audit and Finance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Audit and Finance Committee Pre-Approval Policies and Procedures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Audit and Finance Committee pre-approves
the audit and non-audit services performed by RSM, our principal accountants, in order to assure that the provision of such services
does not impair RSM&#8217;s independence. Unless a type of service to be provided by RSM has received general pre-approval, it
will require specific pre-approval by the Audit and Finance Committee. In addition, any proposed services exceeding pre-approval
cost levels or budgeted amounts will require specific pre-approval by the Audit and Finance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The term of any pre-approval is 12 months
from the date of pre-approval, unless the Audit and Finance Committee specifically provides for a different period. The Audit and
Finance Committee will periodically revise the list of pre-approved services, based on subsequent determinations, and has delegated
pre-approval authority to the Chairman of the Audit and Finance Committee. In the event the Chairman exercises such delegated authority,
he shall report such pre-approval decisions to the Audit and Finance Committee at its next scheduled meeting. The Audit and Finance
Committee does not delegate its responsibilities to pre-approve services performed by the independent auditor to management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>THE BOARD OF DIRECTORS AND THE AUDIT AND FINANCE COMMITTEE RECOMMEND
THAT THE STOCKHOLDERS VOTE &#8220;FOR&#8221; THE RATIFICATION OF THE APPOINTMENT OF RSM US LLP AS THE INDEPENDENT AUDITORS OF OUR
FINANCIAL STATEMENTS FOR THE YEAR ENDING DECEMBER 31, 2018.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Solicitation </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The cost of this proxy solicitation will
be borne by the Company. We may request banks, brokers, fiduciaries, custodians, nominees and certain other record holders to send
proxies, proxy statements and other materials to their principals at our expense. Such banks, brokers, fiduciaries, custodians,
nominees and other record holders will be reimbursed by the Company for their reasonable out-of-pocket expenses of solicitation.
We do not anticipate that costs and expenses incurred in connection with this proxy solicitation will exceed an amount normally
expended for a proxy solicitation for an election of directors in the absence of a contest. In addition to soliciting proxies by
mail, certain of our officers and employees, without additional compensation, may solicit proxies personally or by telephone or
electronic communication on our behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Proposals of Stockholders</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Proposals of stockholders to be considered
for inclusion in our proxy statement and proxy for the 2019 Annual Meeting must be received by the Corporate Secretary of the Company
on or before March 15, 2019. If a stockholder submits a proposal to be considered at the 2019 Annual Meeting other than in accordance
with Rule 14a-8 under the Exchange Act, and does not provide notice of such proposal to the Company by May 29, 2019, the holders
of any proxy solicited by our Board of Directors for use at such meeting will have discretionary authority to vote with respect
to any proposal as to which timely notice is not given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;In addition, our By-Laws, as
currently in effect, establish procedures for stockholder nominations for election of directors and bringing business before
our annual meeting of stockholders. Among other requirements, to nominate a person for election as a director at our 2019
Annual Meeting of Stockholders, a stockholder&#8217;s notice must be delivered to, or mailed and received by, our Corporate
Secretary at our principal executive offices not less than 60 days nor more than 90 days prior to the meeting. In the event
that we have not publicly disclosed the date of the meeting at least 70 days prior to the date of the meeting, notice by the
stockholder must be received not later than the close of business on the 10<SUP>th</SUP>&nbsp;day following the day on which
notice of the date of the meeting was publicly disclosed. Among other requirements, to bring business before our 2019 Annual
Meeting of Stockholders, a stockholder&#8217;s notice must be delivered to, or mailed and received by, our Corporate
Secretary at our principal executive offices by March 15, 2019, except that if the date of the Annual Meeting has been
changed by more than 30 days from the previous year&#8217;s meeting, notice by the stockholder must be received within 10
days after we publicly disclose the date of the meeting. In each case, the notice must contain certain information concerning
the proposed nominee or business and the stockholder making the proposal. The specific requirements of these advance notice
provisions are set forth in Article II, Sections 2.4 and 2.5 of our By-Laws, a copy of which is available upon request. Such
request and any stockholder proposals should be sent to our Corporate Secretary at our principal executive offices.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Other Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors is not aware of
any other matters to be presented at the Annual Meeting other than those mentioned in this Proxy Statement and our Notice of Annual
Meeting of Stockholders enclosed herewith. If any other matters are properly brought before the Annual Meeting, however, it is
intended that the persons named in the proxies will vote such proxies as the Board of Directors directs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Additional Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>We will furnish without charge a copy
of our Annual Report, as filed with the SEC, upon the written request of any person who is a stockholder as of the Record Date,
and will provide copies of the exhibits to such Annual Report upon payment of a reasonable fee, which shall not exceed our reasonable
expenses in connection therewith. Requests for such materials should be directed to Nanophase Technologies Corporation, 1319 Marquette
Drive, Romeoville, Illinois 60446, Attention: Nancy Baldwin, Vice President&#8212;Human Resources and Investor Relations.</B>&nbsp;The
information on our website, www.nanophase.com, is not, and should not be deemed to be, a part of this Proxy Statement, or incorporated
by reference into any other filings we make with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; font: 10pt Arial, Helvetica, Sans-Serif; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 40%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By order of the Board of Directors,</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ JAIME ESCOBAR</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jaime Escobar</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Romeoville, Illinois</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">July 13, 2018</P></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; layout-grid-mode: line">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ALL STOCKHOLDERS ARE REQUESTED TO VOTE VIA
THE INTERNET, BY TELEPHONE OR BY COMPLETING, DATING, SIGNING AND RETURNING A PROXY CARD PROMPTLY.</B></P>

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

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

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

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

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

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                           <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.35in"><FONT STYLE="font-size: 8pt">&nbsp;<IMG SRC="proxycard001.jpg" ALT="(LOGO)"></FONT></P>
                           <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.35in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>
                           <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.35in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>NANOPHASE
                           TECHNOLOGIES CORPORATION </I></B></FONT><FONT STYLE="font-size: 8pt"><BR>
                           <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>C/O Broadridge </I></B></FONT><BR>
                           <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>P.O. Box 1342 </I></B></FONT><BR>
                           <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>Brentwood, NY 11717</I></B></FONT><BR>
                           <BR></FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify">

<P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
BY INTERNET - www.proxyvote.com</B></FONT></P>

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

<P STYLE="margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Use
the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time
the day before the meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain
your records and to create an electronic voting instruction form.</FONT></P>

<P STYLE="margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>ELECTRONIC
DELIVERY OF FUTURE PROXY MATERIALS</B></FONT></P>

<P STYLE="margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">If
you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future
proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery,
please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access
proxy materials electronically in future years.</FONT></P>
<P STYLE="margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
BY PHONE - 1-800-690-6903</B></FONT></P>

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

<P STYLE="margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Use
any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the meeting date.
Have your proxy card in hand when you call and then follow the instructions.</FONT></P>

<P STYLE="margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
BY MAIL</B></FONT></P>

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

<P STYLE="margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Mark,
sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o
Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</FONT></P>



<P STYLE="margin: 0; text-align: justify"></P>



<P STYLE="margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left"></P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"></TD>
    <TD STYLE="width: 24%"></TD>
    <TD STYLE="width: 27%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</FONT></TD>
    <TD></TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD></TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt dashed"></TD>
    <TD STYLE="border-bottom: Black 1pt dashed; padding-left: 0.25in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dashed; text-align: right; white-space: nowrap"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">KEEP THIS
    PORTION FOR YOUR RECORDS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center; padding-left: 1.625in; vertical-align: bottom"></TD>
    <TD STYLE="text-align: right; white-space: nowrap"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">DETACH AND RETURN THIS PORTION ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>THIS
    PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></FONT></TD></TR>
</TABLE>


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

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 3%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 3%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 2%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; text-align: center"></TD>
    <TD STYLE="width: 3%; border-top: Black 1pt solid; text-align: center"></TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid; text-align: center"></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 4%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 4%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 2%; border-top: Black 1pt solid"></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD></TD>
    <TD STYLE="text-align: center"></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>For</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Withhold</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>For All</B></FONT></TD>
    <TD></TD>
    <TD ROWSPAN="2"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">To withhold authority to vote for any individual nominee(s), mark &ldquo;For All Except&rdquo; and write the number(s) of
the nominee(s) on the line below.</FONT></P></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD COLSPAN="6" STYLE="padding-top: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>The Board of Directors recommends
    you vote FOR</B></FONT><BR>
    <FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>the following:</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>All</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>All</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Except</B></FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 2pt solid; border-top: Black 2pt solid"></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: center"></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&#9744;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&#9744;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&#9744;</B></FONT></TD>
    <TD></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 2pt solid"></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1.</B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Election of Directors</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: center"></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Nominees</B></FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">01</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">George A. Vincent, III</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD COLSPAN="9" STYLE="text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>The
Board of Directors recommends you vote FOR the following proposal:</B></FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>For&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Against</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Abstain</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: right"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"></TD>
    <TD STYLE="text-align: center"></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="text-align: left">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD STYLE="text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2.</B></FONT></P>
                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P></TD>
    <TD COLSPAN="10" STYLE="text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">PROPOSAL
TO RATIFY THE APPOINTMENT OF RSM US LLP AS THE INDEPENDENT AUDITORS OF THE COMPANY&rsquo;S FINANCIAL STATEMENTS FOR THE YEAR
ENDING DECEMBER 31, 2018.</FONT>  </TD>
    <TD></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&#9744;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&#9744;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&#9744;</B></FONT></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="10">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
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    <TD COLSPAN="7" STYLE="text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
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    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="12" STYLE="text-align: justify"><P STYLE="margin: 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>NOTE:
                                         </B>EACH OF THE PERSONS NAMED AS PROXIES ARE AUTHORIZED, IN SUCH PERSON&rsquo;S DISCRETION,
                                         TO VOTE UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE ANNUAL MEETING, OR ANY
                                         ADJOURNMENTS THEREOF.</FONT></P>


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    <TD COLSPAN="5"><P STYLE="margin: 0"></P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
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    <TD STYLE="text-align: center"></TD>
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    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
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    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
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    <TD COLSPAN="7" STYLE="text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
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    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD COLSPAN="9" STYLE="text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Please
sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give
full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign
in full corporate or partnership name, by authorized officer.</FONT></TD>
    <TD></TD>
    <TD></TD>
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    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
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    <TD></TD>
    <TD></TD>
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    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
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    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD STYLE="border-top: Black 1pt solid"></TD>
    <TD STYLE="border-top: Black 1pt solid"></TD>
    <TD STYLE="border-top: Black 1pt solid"></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Signature [PLEASE SIGN WITHIN BOX]</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Date</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Signature (Joint Owners)</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Date</FONT></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font: 1pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD></TD>
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    <TD STYLE="border-right: Black 1pt solid"></TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
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    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"></TD></TR>
</TABLE>


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

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0000385436_1&nbsp;&nbsp;&nbsp;&nbsp;R1.0.1.17</FONT></P>

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

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

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Important
Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</B> The Notice &amp; Proxy Statement, Form 10-K is/are
available at <U>www.proxyvote.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: right; border-top: Black 1pt dashed; padding-top: 2pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 4pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>NANOPHASE
    TECHNOLOGIES CORPORATION <BR>
1319 MARQUETTE DRIVE <BR>
ROMEOVILLE, ILLINOIS 60446</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>PROXY
    FOR THE ANNUAL MEETING OF STOCKHOLDERS <BR>
TO BE HELD ON AUGUST 23, 2018 <BR>
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">The
undersigned stockholder(s) hereby appoints Jess Jankowski and Jaime Escobar, and each of them, with full power of substitution,
as attorney and proxy for, and in the name and place of, the undersigned, and hereby authorizes each of Mr. Jankowski and Mr.
Escobar to represent and to vote all of the shares which the undersigned is entitled to vote at the Annual Meeting of Stockholders
of Nanophase Technologies Corporation to be held at Nanophase Technologies Corporation, 1319 Marquette Drive, Romeoville, Illinois
60446, on Thursday, August 23, 2018 at 8:30 a.m., Chicago time, and at any adjournments thereof, upon the matters as set forth
in the Notice of Annual Meeting of Stockholders and Proxy Statement, receipt of which is hereby acknowledged.</font></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>THIS
    PROXY, WHEN PROPERLY EXECUTED AND RETURNED IN A TIMELY MANNER, WILL BE VOTED AT THE ANNUAL MEETING AND AT ANY ADJOURNMENTS
    THEREOF IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED STOCKHOLDER(S). IF NO CONTRARY INDICATION IS MADE, THE PROXY WILL
    BE VOTED FOR THE NOMINEE LISTED IN PROPOSAL 1 AND FOR PROPOSAL 2, AND IN ACCORDANCE WITH THE JUDGMENT OF THE PERSONS NAMED
    AS PROXIES HEREIN ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>PLEASE
    MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in; padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Continued
    and to be signed and dated on reverse side</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0000385436_2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1.0.1.17</FONT></P>

<P STYLE="margin: 0pt 0">&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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