<SEC-DOCUMENT>0001144204-13-053337.txt : 20131001
<SEC-HEADER>0001144204-13-053337.hdr.sgml : 20131001
<ACCEPTANCE-DATETIME>20131001160144
ACCESSION NUMBER:		0001144204-13-053337
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20130927
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131001
DATE AS OF CHANGE:		20131001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKELAND INDUSTRIES INC
		CENTRAL INDEX KEY:			0000798081
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133115216
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15535
		FILM NUMBER:		131126961

	BUSINESS ADDRESS:	
		STREET 1:		701-7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
		BUSINESS PHONE:		6319819700

	MAIL ADDRESS:	
		STREET 1:		701- 7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v356261_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event
reported): September 27, 2013</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Lakeland
Industries, Inc.</B></FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 34%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>0-15535</B></FONT></TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>13-3115216</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>701&nbsp;Koehler&nbsp;Avenue,&nbsp;Suite&nbsp;7,&nbsp;Ronkonkoma,&nbsp;New&nbsp;York&nbsp;11779-7410</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address&nbsp;of&nbsp;principal&nbsp;executive&nbsp;offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip&nbsp;Code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B><U>(631) 981-9700</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Not Applicable</B></FONT></TD>
    <TD STYLE="width: 30%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Former Name or Former Address, if Changed Since Last Report)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><B>Item 1.01</B></TD>
    <TD><B>Entry into a Material Definitive Agreement.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 27, 2013, Lakeland Protective
Real Estate, Inc. (the &ldquo;Borrower&rdquo;), a subsidiary of Lakeland Industries, Inc., closed on a loan arrangement with Business
Development Bank of Canada (the &ldquo;Lender&rdquo;) for a secured term loan in the amount of Cdn$1,100,000 Canadian dollars (approximately
US $1,063,933) (the &ldquo;Loan Amount&rdquo;). The terms of the loan are set forth in a Letter of Offer, dated August 30, 2013,
between the Borrower and the Lender, which become effective on the closing date (the &ldquo;Loan Agreement&rdquo;). The maturity
date of the loan is October 23, 2033. The per annum interest rate on the loan is fixed at 6.45% through August 23, 2018, and is
subject to adjustment thereafter. Commencing November 23, 2013 and through August 23, 2018, the Borrower shall be obligated to
make monthly payments of $8,168.96, which amount is inclusive of principal and interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At its option, Borrower may, once in any
twelve month period, prepay up to 15% of the then outstanding Loan Amount without penalties or fees payable to Lender (the &ldquo;Annual
Prepayment&rdquo;) provided that the loan is not in default. In addition to the Annual Prepayment, the Borrower may prepay at any
time all or a part of the then outstanding Loan Amount, subject to a prepayment fee equal to three months interest on the principal
amount being prepaid calculated at the fixed interest rate then in effect, plus any Interest Differential Charge (as defined in
the Loan Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower&rsquo;s repayment of the Loan
Amount is secured by a security interest in substantially all of the assets of Borrower, including, without limitation, Borrower&rsquo;s
Canadian warehouse, pursuant to a general security agreement (the &ldquo;Security Agreement&rdquo;) entered into concurrently with
the Loan Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Loan Agreement
and Security Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Loan
Agreement attached as Exhibit 10.1 and the Security Agreement attached as Exhibit 10.2 to this Current Report on Form 8-K, each
of which are incorporated herein by reference.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><B>Item 2.03</B></TD>
    <TD><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The disclosures set forth in Item 1.01 are
incorporated by reference to this item.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><B>Item 9.01.</B></TD>
    <TD><B>Financial Statements and Exhibits.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">(d)</TD>
    <TD STYLE="width: 92%">Exhibits.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>Letter of Offer, effective as of September 27, 2013, between Lakeland Protective Real Estate Inc. and Business Development Bank of Canada.&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>General Security Agreement, effective as of September 27, 2013, between Lakeland Protective Real Estate Inc. and Business Development Bank of Canada.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: center; text-indent: -0.75in">&nbsp;</P>


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date:&nbsp;&nbsp;October&nbsp;1,&nbsp;2013</P>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 60%">LAKELAND INDUSTRIES, INC.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 35%; border-bottom: windowtext 1pt solid"><I>/s/ Christopher J. Ryan</I></TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Christopher J. Ryan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">President &amp; Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v356261_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Letter of Offer dated August 30th, 2013 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lakeland Protective Real Estate Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">59 Bury Court</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">N3S 0A9</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Attention of: Mr. Norman Brown</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Loan Account No. 038405-02</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with this letter of offer of credit as amended
from time to time (the &ldquo;<B>Letter of Offer</B>&rdquo;), Business Development Bank of Canada (&ldquo;<B>BDC</B>&rdquo;) is
pleased to offer you the following loan (the &ldquo;<B>Loan</B>&rdquo;). The Letter of Offer is open for acceptance until September
8th, 2013 (the &ldquo;<B>Acceptance Date</B>&rdquo;) after which date it shall become null and void.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>LOAN PURPOSE AND FUNDING</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Loan Purpose</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 STYLE="width: 81%; text-align: left; padding-left: 9pt; padding-bottom: 1pt">Advance to Related Company</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 15%; text-align: right; border-bottom: Black 1pt solid">1,100,000.00</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,100,000.00</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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Funding</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 STYLE="padding-left: 9pt; padding-bottom: 1pt">BDC</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,100,000.00</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,100,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No change to the Loan Purpose or Funding may be made without
BDC&rsquo;s prior written consent. The proceeds of the Loan may only be used for this Loan Purpose.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Letter of Offer includes Schedule &ldquo;A&rdquo; which
contains Definitions, Representations and Warranties, Covenants, Events of Default and General Terms and Conditions. Schedule
&ldquo;A&rdquo; has been inserted after the signature page and forms an integral part of the Letter of Offer.</P>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Business&nbsp;Development&nbsp;Bank&nbsp;of&nbsp;Canada</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25&nbsp;Main&nbsp;Street&nbsp;West,&nbsp;Suite&nbsp;1900,&nbsp;Hamilton,&nbsp;Ontario&nbsp;L8P&nbsp;1H1&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fax:&nbsp;(905)&nbsp;572-4282&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;www.bdc.ca</P></td>
    <td style="vertical-align: bottom; width: 50%; text-align: right"><IMG SRC="tfooter.jpg" ALT="">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland Protective
    Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the Letter of Offer, capitalized terms have the meanings
described in Schedule &ldquo;A&rdquo; &ndash; Section I or are defined elsewhere in the text of the Letter of Offer.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lakeland Protective Real Estate Inc. (the &ldquo;<B>Borrower</B>&rdquo;)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cdn $1,100,000.00.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Loan and all other amounts owing by the Borrower pursuant
to the Loan Documents shall bear interest at the following rate:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6.450% per year, being the applicable BDC&rsquo;s Base Rate
of 5.950% per year plus a variance of 0.500% per year (the &ldquo;<B>Variance</B>&rdquo;). BDC will guarantee the interest rate
until the Acceptance Date. Should the Acceptance Date be extended, this interest rate will not be guaranteed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Interest Adjustment Date for this fixed interest rate plan
is August 23rd, 2018.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interest shall be calculated <FONT STYLE="font-weight: normal">monthly
</FONT>on the outstanding principal, commencing on the date of the first disbursement, both before and after maturity, default
and judgment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Arrears of interest or principal and all other amounts owing
by the Borrower pursuant to the Loan Documents shall bear interest at the rate applicable to the Loan and shall be calculated
and compounded monthly.</P>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland Protective
    Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Principal is repayable as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All payments are to be made on the day of the month selected
by the Borrower (the &quot;<B>Payment Date</B>&rdquo;). Interest is payable monthly commencing on the next occurring Payment Date
following the first advance on the Loan. Once the Loan has been fully disbursed, interest on the Loan together with the principal
of the Loan shall be payable by way of monthly blended instalments of principal and interest of $8,168.96 each (based on the fixed
rate indicated above and an initial amortization period of 240 months) commencing on November 23rd, 2013 up to and including the
Interest Adjustment Date. Prior to the Interest Adjustment Date, BDC shall advise of the new monthly blended instalment based
on the available fixed rate plans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The equivalent rate calculated semi-annually, not in advance,
is 6.537% per year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 23rd, 2033 (the &ldquo;<B>Maturity Date</B>&rdquo;),
the balance of the Loan in principal and interest and all other amounts owing pursuant to the Loan Documents shall become due
and payable.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Annual prepayment privilege:
</B>Provided that the loan is not in default, the Borrower may, once in any 12 month period, prepay up to 15% of the then outstanding
principal without indemnity.&nbsp; The first pre-payment can be made at any time more than one year after August 29th, 2013, being
the date the loan was authorized.&nbsp; The prepayment privilege is not cumulative and each prepayment must be at least 12 months
subsequent to the last prepayment. The prepayment privilege is not applicable upon prepayment of the loan in full.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to the annual privilege, the Borrower may prepay
at any time all or part of the principal provided that the Borrower pays the interest owing up to the time of the prepayment together
with an indemnity equal to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the interest rate on the Loan is a floating rate:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 13.5pt">-</TD><TD>three months further interest on the principal prepaid at the
                                                               floating interest rate then applicable to the Loan.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the interest rate on the Loan is a fixed rate:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 13.5pt">-</TD><TD>the sum of (a) three months further interest on the principal
                                                               prepaid at the fixed interest rate then applicable to the Loan;
                                                               and (b) the Interest Differential Charge.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Partial prepayments shall be applied regressively on the then
last maturing instalments of principal.</P>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland
    Protective Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid; font-size: 10pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Loan, interest on the Loan and all other
amounts owing pursuant to the Loan Documents shall be secured by the following (the <B>&ldquo;Security&rdquo;</B>):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">1.</TD><TD>First readvanceable mortgage on land (approx. 3.0 Acres) legally
                                                               described as Part Lot 41, Concession 3, Township of Brantford,
                                                               being Part 5 on 2R6763; City of Brantford and building (approx.
                                                               24,000 sq ft.) located at 59 Bury Court Brantford, Ontario owned
                                                               by Lakeland Protective Real Estate Inc. Building location survey
                                                               or title insurance required.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">2.</TD><TD>General Security Agreement from Lakeland Protective Real Estate
                                                               Inc. providing a first security interest in all present and after-acquired
                                                               personal property, except consumer goods.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">3.</TD><TD>Postponement of loan for $504,028 from parent company. Interest
                                                               may not be paid.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">4.</TD><TD>First registered general assignment of rents. Rent may be paid
                                                               in the normal course of business unless notified by BDC.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Any obligation to make any advance under
the Letter of Offer is subject to the following conditions being fulfilled to the satisfaction of BDC:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">1.</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-weight: normal">Receipt
                                                                                                        of the Security in form
                                                                                                        and substance satisfactory
                                                                                                        to BDC registered as required
                                                                                                        to perfect and maintain
                                                                                                        the validity and rank
                                                                                                        of the security, and such
                                                                                                        certificates, authorizations,
                                                                                                        resolutions and legal
                                                                                                        opinions as BDC may reasonably
                                                                                                        require. </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.</TD><TD><FONT STYLE="font-weight: normal">Satisfactory review of all
                                                               financial information relating to the Borrower and any corporate
                                                               Guarantor and their respective business as BDC may reasonably require.
                                                               </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">3.</FONT></TD><TD><FONT STYLE="font-weight: normal">No
                                                                                                        Default or Event of Default
                                                                                                        shall have occurred. </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">4.</FONT></TD><TD><FONT STYLE="font-weight: normal">No
                                                                                                        Material Adverse Change
                                                                                                        shall have occurred.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">5.</FONT></TD><TD><FONT STYLE="font-weight: normal">Provision
                                                                                                        of documents evidencing
                                                                                                        expenditures&nbsp;under
                                                                                                        the Loan Purpose, if applicable.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">6.</FONT></TD><TD><FONT STYLE="font-weight: normal">Satisfaction
                                                                                                        of all applicable disbursement
                                                                                                        conditions contained in
                                                                                                        the Underlying Conditions
                                                                                                        section of this Letter
                                                                                                        of Offer.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">7.</FONT></TD><TD><FONT STYLE="font-weight: normal">Submit
                                                                                                        a Phase I &ndash; Environmental
                                                                                                        Site Assessment Report
                                                                                                        prepared by an external
                                                                                                        consultant commissioned
                                                                                                        by BDC. The contents and
                                                                                                        the conclusions of the
                                                                                                        Report must all be acceptable
                                                                                                        to BDC. The Borrower is
                                                                                                        responsible for the payment
                                                                                                        of all charges relative
                                                                                                        to the preparation of
                                                                                                        the report.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">8.</FONT></TD><TD><FONT STYLE="font-weight: normal">Provide
                                                                                                        a letter addressed to
                                                                                                        BDC from AloStar Business
                                                                                                        Credit, a division of
                                                                                                        AloStar Bank of Commerce
                                                                                                        confirming their concurrence
                                                                                                        with the Borrower obtaining
                                                                                                        this Loan and the terms
                                                                                                        and conditions in this
                                                                                                        Letter of Offer.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-weight: normal">9.</FONT></TD><TD><FONT STYLE="font-weight: normal">Provide
                                                                                                        a written confirmation
                                                                                                        that the lease agreement
                                                                                                        dated August 20, 2013
                                                                                                        between Lakeland Protective
                                                                                                        Real Estate Inc. (Landlord)
                                                                                                        and Lakeland Protective
                                                                                                        Wear Inc. (Tenant) for
                                                                                                        lease of realty located
                                                                                                        at 59 Bury Court, Brantford,
                                                                                                        Ontario charged as security
                                                                                                        for this Loan has been
                                                                                                        reviewed by and is acceptable
                                                                                                        to BDC's Solicitor. </FONT></TD></TR></TABLE>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland
    Protective Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid; font-size: 10pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">So long as any amount owing pursuant to the
Loan Documents remains unpaid, the following conditions shall apply:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">1.</TD><TD>You will confirm, on demand, proof of payment to each government
                                                               agency through documentation prepared by your external accredited
                                                               accountant which is to be forwarded to BDC along with your annual
                                                               financial statements. You also agree to sign a standard consent
                                                               form enabling BDC to inquire as to the status of these remittances.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">2.</TD><TD>You agree to provide to BDC annually written proof of your
                                                               payment of the property, school or similar taxes which are assessed
                                                               against the mortgaged land and improvements (the &ldquo;taxes&rdquo;),
                                                               within thirty (30) days following the due date of each required
                                                               instalment. Should you default in paying any such instalment of
                                                               the taxes when due, you will pay BDC monthly payments as calculated
                                                               by BDC to establish a tax reserve account. These payments will
                                                               be collected by the pre-authorized debit plan and the funds in
                                                               the account will earn interest in accordance with BDC&rsquo;s policy
                                                               then in effect. You authorize BDC to pay the relevant taxing authorities.
                                                               Should there be insufficient funds to satisfy the taxes owing,
                                                               you will pay the shortfall. BDC will not be responsible for funding
                                                               the shortfall or any arrears, including interest and other charges.
                                                               You will instruct the taxing authority to forward a copy of the
                                                               tax notice to BDC, or you will deliver a copy to BDC upon receipt.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">3.</TD><TD>Notwithstanding terms and conditions for interest rate contained
                                                               in this Letter of Offer, the Loan must remain on fixed interest
                                                               rate plans renewed from time to time for periods chosen by the
                                                               Borrower, which will be subject to all other terms and conditions
                                                               applicable to fixed interest rate plans.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 17.85pt">4.</TD><TD>DISBURSEMENT<BR>
                                                               This Loan will be disbursed through Solicitor in trust once all
                                                               the required Security is in place and terms and conditions set
                                                               out in this Letter of Offer have been met.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Unless otherwise authorized, funds shall
be disbursed to the solicitor or notary who shall confirm to BDC the execution, delivery and registration of the Security.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>REPRESENTATIONS AND WARRANTIES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Borrower makes the representations and
warranties in Schedule &ldquo;A&rdquo; &ndash; Section II. These representations and warranties shall survive the execution of
the Letter of Offer and shall continue in force and effect until the full payment and performance of all obligations of the Borrower
pursuant to the Loan Documents.</P>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland
    Protective Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid; font-size: 10pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">So long as any amount owing pursuant to the Loan Documents
remains unpaid, the Borrower and any corporate Guarantor shall perform the covenants in Schedule &ldquo;A&rdquo; &ndash; Section
III.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The&nbsp;Borrower&nbsp;(and if applicable the corporate Guarantor)
shall provide&nbsp;to&nbsp;BDC within 90 days of its (their) fiscal year end the following financial statements:</P>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 42%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Company</B></FONT></td>
    <TD NOWRAP STYLE="width: 1%; text-align: center">&nbsp;</td>
    <TD NOWRAP STYLE="width: 22%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Type</B></FONT></td>
    <TD NOWRAP STYLE="width: 1%; text-align: center">&nbsp;</td>
    <TD NOWRAP STYLE="width: 14%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Frequency</B></FONT></td>
    <TD NOWRAP STYLE="width: 1%; text-align: center">&nbsp;</td>
    <TD NOWRAP STYLE="width: 19%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Period
    Ending</B></FONT></td></tr>
<tr style="vertical-align: top">
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lakeland Protective Wear, Inc.</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Review Engagement</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annual</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January</FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lakeland Industries, Inc.</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Audited</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annual</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January</FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lakeland Protective Real Estate Inc.</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notice to Reader</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annual</FONT></td>
    <td>&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and such other financial and operating statements and reports
as and when BDC may reasonably require.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>EVENTS OF DEFAULT</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The occurrence of any of the events listed in Schedule &ldquo;A&rdquo;
&ndash; Section IV constitutes an event of default under the Letter of Offer (each an &ldquo;<B>Event of Default</B>&rdquo;).
If an Event of Default occurs, any obligation of BDC to make any advance, shall, at BDC&rsquo;s option, terminate and BDC may,
at its option, demand immediate payment of the Loan and enforce any Security.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Borrower does not draw on the Loan by August 29th, 2014
(the &ldquo;<B>Lapsing Date&rdquo;</B>), the Loan shall lapse and be cancelled and the Borrower and the Guarantor shall pay BDC
a cancellation fee of $33,000.00. If the Borrower draws on the Loan partially, the undisbursed part of the Loan shall lapse on
the Lapsing Date and be cancelled. If the Borrower cancels more than 50% of the Loan (cumulative), the Borrower and the Guarantor
shall pay a prorated part of the above stated cancellation fee proportionate to the percentage of the Loan cancelled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The cancellation fee is payable on demand and is liquidated
damages, not a penalty, and represents a reasonable estimate of BDC's damages should the Loan be cancelled or allowed to lapse
in whole or in part.</P>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland Protective
    Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Borrower and the Guarantor shall pay BDC a non-refundable
standby fee calculated at a rate of 1.5% per annum on the portion of the Loan which has not been advanced or cancelled. This fee
shall be calculated daily and be payable in arrears commencing on October 29th, 2013 and on each Payment Date thereafter.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Legal Fees and Expenses</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Borrower and the Guarantor shall pay, on demand, all legal
and other out-of-pocket costs of BDC incurred in connection with the Loan and the Loan Documents including the enforcement of
the Loan and the Loan Documents, whether or not any documentation is entered into or any advance is made to the Borrower. All
legal and other out-of-pocket expenses of BDC in connection with any amendment or waiver related to the Loan and the Loan documents
shall also be for the account of the Borrower.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Borrower shall pay BDC a management fee of $750.00 per
year. This management fee is payable annually on the Payment Date immediately following each anniversary of the first advance
of the Loan. This fee is non-refundable and is subject to change.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Borrower shall pay BDC loan amendment and Security processing
fees charged for the administrative handling of the Loan.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Loan Documents constitute the entire agreement between
BDC and the Borrower. To the extent that any provision of the Letter of Offer is inconsistent with or in conflict with the provisions
of the other Loan Documents, such provision of the Letter of Offer shall govern.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Borrower shall indemnify and hold BDC harmless against
any and all claims, damages, losses, liabilities and expenses incurred, suffered or sustained by BDC by reason of or relating
directly or indirectly to the Loan Documents save and except any such claim, damage, loss, liability and expense resulting from
the gross negligence or wilful misconduct of BDC.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Letter of Offer shall be governed by and construed in
accordance with the laws of the jurisdiction in which the Business Centre of BDC is located as shown on the first page of this
Letter of Offer.</P>

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


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    <!-- Field: /Page -->

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland Protective
    Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>SUCCESSORS AND ASSIGNS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Letter of Offer shall extend to and be binding on the Borrower
and BDC and their respective successors and assigns. BDC, in its sole discretion, may assign, sell or grant participation in (a
&ldquo;<B>transfer</B>&rdquo;) all or any part of its rights and obligations under this Letter of Offer or the Loan to any third
party, and the Borrower agrees to sign any documents and take any actions that BDC may reasonably require in connection with any
such transfer. Upon completion of the transfer, the third party will have the same rights and obligations under this Letter of
Offer as if it were a party to it, with respect to all rights and obligations included in the transfer and BDC will be released
to the extent of any interest under this Letter of Offer or the Loan it assigns. BDC may disclose information it has in connection
with the Borrower or any Guarantor to any actual or prospective transferee. No Borrower or Guarantor shall have the right to assign
any of its rights or obligations under or pursuant to the Loan Documents without BDC&rsquo;s prior written consent.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Letter of Offer and any modification of it may be executed
and delivered by original signature, fax, or any other electronic means of communication acceptable to BDC and in any number of
counterparts, each of which is deemed to be an original and all of which taken together shall constitute one and the same Letter
of Offer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Should you have any questions regarding the Letter of Offer,
do not hesitate to communicate with one of the undersigned.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid">/s/ Sean Tiernay</td>
    <TD STYLE="width: 10%">&nbsp;</td>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid">/s/ Vince Ditta</td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sean Tiernay</FONT></td>
    <TD>&nbsp;</td>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vince Ditta</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Manager, Major Accounts</FONT></td>
    <TD>&nbsp;</td>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business Centre Manager</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tel: (905) 572-2352</FONT></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fax: (905) 572-4282</FONT></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LETTER OF OFFER </B>Lakeland Protective
    Real Estate Inc. - 038405-02, August 30th, 2013</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: windowtext 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The parties accept the terms and conditions set forth above
and in the attached Schedule &ldquo;A&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This 3rd day of September 2013.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Lakeland Protective Real Estate Inc. </B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 12%">Per:</TD>
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid">/s/ Gary Pokrassa</TD>
    <TD STYLE="width: 50%">,&nbsp;&nbsp;Authorized Signing Officer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Print Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Gary Pokrassa, CFO</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>,&nbsp;&nbsp;Authorized Signing Officer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Print Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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


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<TYPE>EX-10.2
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<FILENAME>v356261_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="margin: 0"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Banque de d&eacute;veloppement du Canada</B></P>

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BDC</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: Black 3pt solid; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>GENERAL SECURITY AGREEMENT</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS AGREEMENT</B> dated September 27, 2013</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>LAKELAND PROTECTIVE REAL ESTATE INC.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD>(the &quot;Borrower&quot;)</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>BUSINESS DEVELOPMENT BANK OF CANADA</B>, with a
branch office at 25 Main Street West, Suite 1900, Hamilton, Ontario L8P 1H1</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">(the &quot;Bank&quot;)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITY INTEREST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You, as the Borrower, will grant to the Bank a charge,
referred to as a security interest, over all personal property now held or in the future held or acquired by you. You will also
grant a charge, referred to as a floating charge, over your complete undertaking . These charges are the security the Bank will
hold in consideration of lending you funds or providing the credit facility to you.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For consideration the Borrower hereby:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>mortgages and charges as a fixed and specific charge, and assigns and transfers to the Bank, and grants to the Bank a general
and continuing security interest in all of the Borrower's present and after acquired personal property including, without limitation:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(i)</TD><TD>all office, trade, manufacturing and all other equipment and all goods, including, without limitation, machinery, tools, fixtures,
computers, furniture, furnishings, chattels, motor vehicles and other tangible personal property that is not Inventory, and all
parts, components, attachments, accessories, accessions, replacements, substitutions, additions and improvements to any of the
above (all of which is collectively called the &quot;Equipment&quot;);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(ii)</TD><TD>all inventory, including, without limitation, goods acquired or held for sale or lease or furnished or to be furnished under
contracts of rental or service, all raw materials, work in process, finished goods, returned goods, repossessed goods, all livestock
and their young after conception, all crops and timber, and all packaging materials, supplies and containers relating to or used
or consumed in connection with any of the foregoing (all of which is collectively called the &quot;Inventory&quot;);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(iii)</TD><TD>all debts, accounts, claims, demands, moneys and choses in action which now are, or which may at any time be, due or owing
to or owned by the Borrower and all books, records, documents, papers and electronically recorded data recording, evidencing or
relating to the debts, accounts, claims, demands, moneys and choses in action (all of which is collectively called the &quot;Accounts&quot;);</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(iv)</TD><TD>all documents of title, chattel paper, instruments, securities and money, and all other personal property, of the Borrower
that is not Equipment, Inventory or Accounts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(v)</TD><TD>all patents, trade-marks, copyrights, industrial designs, plant breeder&rsquo;s rights, integrated circuit topographies, trade-names,
goodwill, confidential information, trade secrets and know-how, including without limitation, environmental technology and bio-technology,
software and any registrations and applications for registration of the foregoing and all other intellectual and industrial property
of the Borrower (all of which is collectively called the &ldquo;Intellectual Property&rdquo;);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(vi)</TD><TD>all the Borrower&rsquo;s contractual rights, licenses and all other choses in action of every kind which now are, or which
may at any time be due or owing to or owned by the Borrower, and all other intangible property of the Borrower, that is not Accounts,
chattel paper, instruments, documents of title, Intellectual Property, securities or money;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(vii)</TD><TD>the personal property described in Schedule &ldquo;A&rdquo; attached to this Agreement and all additions thereto and replacements
thereof; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(viii)</TD><TD>all proceeds of every nature and kind arising from the personal property referred to in this Security Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>grants to the Bank a general and continuing security interest and charges by way of a floating charge:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 27pt">(i)</TD><TD>all of the undertaking and assets of the Borrower, of every nature or kind and wherever situate, whether presently owned or
hereafter acquired, and all their proceeds, other than its assets and undertakings that are otherwise validly and effectively subject
to the charges and security interests in favour of the Bank created pursuant to this Clause 1.1.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The security interests, mortgages, transfers, assignments,
charges, grants and conveyances created pursuant to Clause 1.1 shall be collectively called the &quot;Security Interests&quot;,
and the property subject to the Security Interests and all property, assets and undertaking charged, assigned or transferred or
secured by any instruments supplemental to or in implementation of this Security Agreement are collectively called the &quot;Collateral&quot;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The schedules, including definitions, form part of this
Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXCEPTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(With few exceptions, all of your personal property
is subject to the security interests and charges described in Clause 1.1. Only the last day of any lease term and possibly your
consumer goods are excepted. Corporations do not hold consumer goods.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The last day of the term created by any lease or agreement
is excepted out of any charge or the Security Interests but the Borrower shall stand possessed of the reversion and shall remain
upon trust to assign and dispose of it to any third party as the Bank shall direct.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All the Borrower&rsquo;s consumer goods are excepted
out of the Security Interests.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD><B>ATTACHMENT</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Value or consideration has flowed between you and
the Bank and the Security Interests in your personal property are complete once you sign this Security Agreement.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower agrees that the Security Interests
attach upon the signing of this Security Agreement (or in the case of after acquired property, upon the date of acquisition), that
value has been given, and that the Borrower has (or in the case of after acquired property, will have upon the date of acquisition)
rights in the Collateral and the Borrower confirms that there has been no agreement between the Borrower and the Bank to postpone
the time for attachment of the Security Interests and that it is the Borrower's understanding that the Bank intends the Security
Interests to attach at the same time.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PURCHASE MONEY SECURITY INTEREST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(To the extent that the Bank helps you acquire an
interest in any personal property, you grant a special security interest to the Bank over that personal property. The special security
interest is known as a &quot;Purchase Money Security Interest&quot;.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower acknowledges and agrees that
the Security Interests constitute and are intended to create Purchase Money Security Interests in Collateral to the extent that
moneys advanced by the Bank, including all future advances and re-advances, are used or are to be used, in whole or in part, to
purchase or otherwise to acquire rights in Collateral.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OBLIGATIONS SECURED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(The Security Interests and charges you have granted
to the Bank secure all indebtedness and all obligations to the Bank.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Security Agreement is in addition to
and not in substitution for any other security interest or charge now or in the future held by the Bank from the Borrower or from
any other person and shall be general and continuing security for the payment and performance of all indebtedness, liabilities
and obligations of the Borrower to the Bank (including interest thereon), whether incurred prior to, at the time of or after the
signing of this Security Agreement including extensions and renewals, and all other liabilities of the Borrower to the Bank, present
and future, absolute or contingent, joint or several, direct or indirect, matured or not, extended or renewed, wherever and however
incurred, including all advances on current or running account, future advances and re-advances of any loans or credit by the Bank
and the Borrower&rsquo;s obligation and liability under any contract or guarantee now or in the future in existence whereby the
Borrower guarantees payment of the debts, liabilities and/or obligations of a third party to the Bank, and for the performance
of all obligations of the Borrower to the Bank, whether or not contained in this Security Agreement (all of which indebtedness,
liabilities and obligations are collectively called the &quot;Obligations&quot;).</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You state that you are able to legally grant this
Security Agreement to the Bank, it will be binding and the Collateral is not subject to any encumbrances that have not been approved
by the Bank. You own the Collateral and nothing prevents you from granting the Security Interests and charges in favour of the
Bank. The Bank will rely on all of the following representations and warranties.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower represents and warrants to the Bank that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>if a corporation, it is a corporation incorporated and organised and validly existing and in good standing under the laws of
the jurisdiction of its incorporation; it has the corporate power to own or lease its property and to carry on the business conducted
by it; it is qualified as a corporation to carry on the business conducted by it and to own or lease its property and is in good
standing under the laws of each jurisdiction in which the nature of its business or the property owned or leased by it makes such
qualification necessary; and the execution, delivery and performance of this Security Agreement are within its corporate powers,
have been authorised and do not contravene, violate or conflict with any law or the terms and provisions of its constating documents
or its by-laws or any shareholders agreement or any other agreement, indenture or undertaking to which the Borrower is a party
or by which it is bound;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>if it is a corporation, its name as set forth on page 1 of this Security Agreement is its full, true and correct name as stated
in its constating documents and if such name is in English, it does not have or use a French language form of its name or a combined
English language and French language form of its name and vice versa, and the Borrower has provided a written memorandum to the
Bank accurately setting forth all prior names under which the Borrower has operated;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>if it is a partnership, its name as set forth on page 1 is its full, true and correct, and where required or voluntarily registered
its registered, name; it is a partnership validly created and organised and validly existing under the laws of the jurisdiction
of its creation; it has the power to carry on the business conducted by it; it is qualified as a partnership to carry on the business
conducted by it and is in good standing under the laws of each jurisdiction in which the nature of its business makes such qualification
necessary; and the execution, delivery and performance of this Agreement are within its powers, have been authorised, and do not
contravene, violate or conflict with any law or the terms of its partnership agreement or any other agreement, indenture or undertaking
to which the Borrower is a party or by which it is bound, and a complete list of the names, addresses and (if individuals) the
dates of birth of the partners of the partnership are set forth on a Schedule attached to this Security Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>if the Borrower is an individual, that individual's full name and address provided to the Bank are the individual's full and
correct name and address and the individual's date of birth as described on the individual's birth certificate a true copy of which
has been provided to the Bank or, if no birth certificate issued from any jurisdiction in Canada exists, as described on the documents
provided to the Bank is the individual's correct birth date;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(e)</TD><TD>there is no litigation or governmental proceedings commenced or pending against or affecting the Collateral or the Borrower,
in which a decision adverse to the Borrower would constitute or result in a material adverse change in the business, operations,
properties or assets or in the condition, financial or otherwise, of the Borrower; and the Borrower agrees to promptly notify the
Bank of any such future litigation or governmental proceeding;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(f)</TD><TD>it does not have any information or knowledge of any facts relating to its business, operations, property or assets or to its
condition, financial or otherwise, which it has not disclosed to the Bank in writing and which, if known to the Bank, might reasonably
be expected to deter the Bank from extending credit or advancing funds to the Borrower;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(g)</TD><TD>it has good title and lawfully owns and possesses all presently held Collateral, free from all security interests, charges,
encumbrances, liens and claims, save only the Security Interests and the charges or security interests consented to in writing
by the Bank, and it has not granted any licenses in or of its Intellectual Property other than as disclosed and consented to by
the Bank;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(h)</TD><TD>to the extent that any of the Collateral includes serial numbered goods and motor vehicles which require serial number registration
by virtue of the Act and its regulations including motor vehicles, trailers, manufactured homes, mobile homes, boats, outboard
motors for boats or aircraft, the Borrower has given the full and correct serial numbers and any Ministry of Transport designation
marks or other relevant licensing authority marks of all such Collateral to the Bank;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>the Collateral is and/or will be located at the place(s) described in Schedule &ldquo;A&rdquo; and will not be removed from
such location(s) without the prior written consent of the Bank;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(j)</TD><TD>this Security Agreement is granted in accordance with resolutions of the directors (and of the shareholders as applicable)
of the Borrower, if the Borrower is a corporation, or, if the Borrower is a partnership, of the partners of the Borrower, and all
other requirements have been fulfilled to authorise and make the execution and delivery of this Security Agreement, and the performance
of the Borrower's obligations valid and there is no restriction contained in the constating documents of the Borrower or in any
shareholders agreement or partnership agreement which restricts the powers of the authorised signatories of the Borrower to borrow
money or give security; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(k)</TD><TD>the Borrower's place(s) of business and chief executive office have been correctly provided to the Bank.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COVENANTS OF THE BORROWER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(The Security Interests and the Collateral must be
protected while the Security Agreement remains in effect. These covenants are your promises to the Bank describing how the Bank's
Security Interests will be attended to. You will also covenant to maintain accurate books and records and allow the Bank's inspection.
Your promises are found in the Security Agreement and Schedules.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower covenants with the Bank that while this
Security Agreement remains in effect the Borrower will:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>promptly pay and satisfy the Obligations as they become due or are demanded;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>defend the title to the Collateral for the Bank&rsquo;s benefit, against the claims and demands of all persons;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>fully and effectually maintain and ensure that the Security Interests are and continue to be valid and effective;</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>


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


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    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>maintain the Collateral in good condition and repair and provide adequate storage facilities to protect the Collateral and
not permit the value of the Collateral to be impaired;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(e)</TD><TD>observe and conform to all valid requirements of any governmental authority relative to any of the Collateral and all covenants,
terms and conditions upon or under which the Collateral is held;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(f)</TD><TD>forthwith pay and satisfy:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>all taxes, assessments, rates, duties, levies, government fees, claims and dues lawfully levied, assessed or imposed upon it
or the Collateral when due, unless the Borrower shall in good faith contest its obligations so to pay and shall furnish to the
Bank such security as the Bank may require;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>all security interests, charges, encumbrances, liens and claims which rank or could rank in priority to, or on an equal basis
with, any of the Security Interests; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iii)</TD><TD>all fees from time to time chargeable by the Bank arising out of any term of the commitment letter between the Bank and the
Borrower including, without limitation, inspection, administration and returned cheque handling fees;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(g)</TD><TD>forthwith pay and satisfy all costs, charges, expenses and legal fees and disbursements (on a solicitor and its own client
basis) which may be incurred by the Bank in connection with granting loans or credit to the Borrower, including for:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>inspecting the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>negotiating, preparing, perfecting, registering or renewing the registration of this Security Agreement and the Security Interests,
any Financing or Financing Change Statement, any modification or amending agreement and other documents relating to the Borrower's
obligations, whether or not relating to this Security Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iii)</TD><TD>complying with any disclosure requirements under the Act;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iv)</TD><TD>investigating title to the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(v)</TD><TD>taking, recovering, keeping possession and disposing of the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(vi)</TD><TD>maintaining the Collateral in good repair, storing the Collateral and preparing the Collateral for disposition;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(vii)</TD><TD>any inspection, appraisal, investigation or environmental audit of the Collateral and the cost of any environmental rehabilitation,
treatment, removal or repair necessary to protect, preserve or remedy the Collateral including any fine or penalty the Bank becomes
obligated to pay by reason of any statute, order or direction of competent authority;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(viii)</TD><TD>all other actions and proceedings taken to preserve the Collateral, enforce this Security Agreement and of any other security
interest held by the Bank as security for the Obligations, protect the Bank from liability in connection with the Security Interests
or assist the Bank in its loan and credit granting or realization of the Security Interest, including any actions under the <I><U>Bankruptcy
and Insolvency Act</U></I> (Canada) and all remuneration of any Receiver (as defined in Article 15 hereof) or appointed pursuant
to the <I><U>Bankruptcy and Insolvency Act</U></I> (Canada);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ix)</TD><TD>any sums the Bank pays as fines, or as clean up costs because of contamination of or from your assets. Further, you will indemnify
the Bank and its employees and agents from any liability or costs incurred including legal defense costs. Your obligation under
this paragraph continues even after the Obligations are repaid and this agreement is terminated.</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>


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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(h)</TD><TD>at the Bank's request, execute and deliver further documents and instruments and do all acts as the Bank in its absolute discretion
requires to confirm, register and perfect, and maintain the registration and perfection of, the Security Interests;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>notify the Bank promptly of:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>any change in the information contained in this Security Agreement relating to the Borrower, its business or the Collateral,
including, without limitation, any change of name or address (including any change of trade name, proprietor or partner) and any
change in the present location of any Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>the details of any material acquisition of Collateral, including the acquisition of any motor vehicles, trailers, manufactured
homes, boats or aircraft;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iii)</TD><TD>any material loss or damage to the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iv)</TD><TD>any material default by any account debtor in the payment or other performance of its obligations to the Borrower respecting
any Accounts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(v)</TD><TD>any claims against the Borrower including claims in respect of the Intellectual Property or of any actions taken by the Borrower
to defend the registration of or the validity of or any infringement of the Intellectual Property;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(vi)</TD><TD>the return to or repossession by the Borrower of Collateral that was disposed of by the Borrower; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(vii)</TD><TD>all additional places of business and any changes in its place(s) of business or chief executive office;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(j)</TD><TD>prevent the Collateral, other than Inventory sold, leased, or otherwise disposed of as permitted by this Security Agreement,
from being or becoming an accession to property not covered by this Security Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(k)</TD><TD>carry on and conduct its business and undertaking in a proper and businesslike manner so as to preserve and protect the Collateral
and the earnings, income, rents, issues and profits of the Collateral, including maintenance of proper and accurate books of account
and records;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(l)</TD><TD>permit the Bank and its representatives, at all reasonable times, access to the Collateral including all of the Borrower's
property, assets and undertakings and to all its books of account and records for the purpose of inspection and the taking of extracts
and copies, whether at the Borrower&rsquo;s premises or otherwise, and the Borrower will render all assistance necessary;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(m)</TD><TD>observe and perform all its obligations under:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>leases, licences, undertakings, and any other agreements to which it is a party;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>any statute or regulation, federal, provincial, territorial, or municipal, to which it is subject;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(n)</TD><TD>deliver to the Bank from time to time promptly upon request:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>any documents of title, instruments, securities and chattel paper constituting, representing or relating to the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>all books of account and all records, ledgers, reports, correspondence, schedules, documents, statements, lists and other writings
relating to the Collateral to allow the Bank to inspect, audit or copy them;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iii)</TD><TD>all financial statements prepared by or for the Borrower regarding the Borrower's business;</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(iv)</TD><TD>such information concerning the Collateral, the Borrower and the Borrower's business and affairs as the Bank may reasonably
require;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(o)</TD><TD>with respect to the Intellectual Property, take all necessary steps and initiate all necessary proceedings, to maintain the
registration or recording of the Intellectual Property, to defend the Intellectual Property from infringement and to prevent any
licensed or permitted user from doing anything that may invalidate or otherwise impair the Intellectual Property;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(p)</TD><TD>with respect to copyright forming part of the Intellectual Property, provide to the Bank waivers of the moral rights thereto
executed by all contributors or authors of the copyrighted work;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(q)</TD><TD>receive and hold in trust on behalf of and for the benefit of the Bank all proceeds from the sale or other disposition of any
Collateral;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(r)</TD><TD>consent to the Bank contacting and making enquiries of the Borrower&rsquo;s lessors, as well as municipal or other government
officials or assessors; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(s)</TD><TD>observe and perform the additional covenants and agreements set out in any schedules to this Security Agreement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any amounts required to be paid to the Bank by the Borrower
under this Clause 7 shall be immediately payable with interest at the highest rate borne by any of the Obligations until all amounts
have been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Security Agreement shall remain in effect until
it has been terminated by the Bank by notice of termination to the Borrower and all registrations relating to the Security Agreement
have been discharged.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INSURANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(It is your obligation to thoroughly insure the Collateral
in order to protect your interests and those of the Bank. You will follow the specific requirements of the insurance coverage described
in this Clause.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower covenants that while this Security Agreement
is in effect the Borrower shall:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>maintain or cause to be maintained insurance on the Collateral with a reputable insurer, of kinds, for amounts and payable
to such person or persons, all as the Bank may require, and in particular maintain insurance on the Collateral to its full insurable
value against loss or damage by fire and all other risks of damage, including an extended coverage endorsement and in the case
of motor vehicles, insurance against theft;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>cause the insurance policy or policies required by this Security Agreement to be assigned to the Bank, including a standard
mortgage clause or a mortgage endorsement, as the Bank may require;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>pay all premiums respecting such insurance, and deliver all policies to the Bank, if it so requires.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If proceeds of any required insurance becomes payable,
the Bank may, in its absolute discretion, apply these proceeds to the Obligations as the Bank sees fit or release any insurance
proceeds to the Borrower to repair, replace or rebuild, but any release of insurance proceeds to the Borrower shall not operate
as a payment on account of the Obligations or in any way affect this Security Agreement or the Security Interests.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will forthwith, on the happening of loss
or damage to the Collateral, notify the Bank and furnish to the Bank at the Borrower's expense any necessary proof and do any necessary
act to enable the Bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">to obtain payment of the insurance proceeds, but nothing shall
limit the Bank's right to submit to the insurer a proof of loss on its own behalf.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower hereby authorizes and directs the insurer
under any required policy of insurance to include the name of the Bank as loss payee on any policy of insurance and on any cheque
or draft which may be issued respecting a claim settlement under and by virtue of such insurance, and the production by the Bank
to any insurer of a notarial or certified copy of this Security Agreement (notarized or certified by a notary public or solicitor)
shall be the insurer's complete authority for so doing.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower fails to maintain insurance as required,
the Bank may, but shall not be obliged to, maintain or effect such insurance coverage, or so much insurance coverage as the Bank
may wish to maintain.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER PROHIBITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You agree to not encumber your property so as to
interfere with the security interests or charges granted to the Bank and you will not dispose of any of the Collateral except inventory
disposed of in the ordinary course of your business.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without the prior written consent of the
Bank the Borrower will not:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>create or permit to exist any security interest in, charge, encumbrance or lien over, or claim against any of its property,
assets, undertakings including without limitation the Collateral which ranks or could in any event rank in priority to or on an
equal basis with any of the Security Interests created by this Security Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>grant, sell, or otherwise assign any of its chattel paper or any of the Collateral except only Inventory that is disposed of
in accordance with Clause 10.2; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>where the Borrower is a corporation</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 153.35pt; text-indent: -1.25in">(i) repay or reduce any shareholders
loans or other debts due to its shareholders; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 126.7pt; text-indent: -63.35pt">(ii)change its name, merge
with or amalgamate with any other entity;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIONS ON SALE OR DISPOSAL OF COLLATERAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You will preserve and protect all of the Collateral
and not dispose of it without the consent of the Bank. Any sales or other disposition will result in you holding the proceeds in
trust for the Bank. Your responsibilities towards the Collateral and any trust proceeds are important to the Bank.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as provided by this Security Agreement, without
the Bank&rsquo;s prior written consent the Borrower will not:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>sell, lease, license or otherwise dispose of the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>release, surrender or abandon possession of the Collateral; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>move or transfer the Collateral from the jurisdictions in which the Security Interests have been perfected.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provided that the Borrower is not in default under this
Security Agreement, the Borrower may lease, sell, license, consign or otherwise deal with items of Inventory only in the ordinary
course of its business and for the purposes of carrying on its business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any disposition of any Collateral, excepting sales of
Inventory in the ordinary course, shall result in the Borrower holding the proceeds in trust for and on behalf of the Bank and
subject to the Bank&rsquo;s exclusive direction and control. Nothing restricts the Bank&rsquo;s rights to attach, seize or otherwise
enforce its Security Interests in any Collateral sold or disposed, unless it is sold or disposed with the Bank&rsquo;s prior written
consent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PERFORMANCE OF OBLIGATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(If you do not strictly do all those things that you
have agreed to do in this Security Agreement, the Bank may perform those obligations but you will be required to pay for them.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Borrower fails to perform its covenants
and agreements under this Security Agreement, the Bank may, but shall not be obliged to, perform any or all of such covenants and
agreements without prejudice to any other rights and remedies of the Bank, and any payments made and any costs, charges, expenses
and legal fees and disbursements (on a solicitor and its own client basis) incurred by the Bank shall be immediately payable by
the Borrower to the Bank with interest at the highest rate borne by any of the Obligations and shall be secured by the Security
Interests, until all such amounts have been paid.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Any dealing with the Collateral that results in an
account being created, or proceeds arising, is of particular importance to the Bank. The account, or proceeds, acts in substitution
for the Collateral that has been sold, usually inventory. You will protect the account or proceeds in favour of the Bank.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of this
Security Agreement, the Bank may collect, realize, sell or otherwise deal with all or a portion of the Accounts in such manner,
upon such terms and conditions and at any time, whether before or after default, as may seem to it advisable, and without notice
to the Borrower, except in the case of disposition after default and then subject to the applicable provisions of the Act, if any.
All forms of payment received by the Borrower in payment of any Account, or as proceeds, shall be subject to the Security Interests
and shall be received and held by the Borrower in trust for the Bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APPROPRIATION OF PAYMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(The Bank has the right to determine how funds it
receives will be applied in relation to your loan facility.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any and all payments made respecting the
Obligations and monies realized from any Security Interests (including monies collected in accordance with or realized on any enforcement
of this Security Agreement) may be applied to such part or parts of the Obligations as the Bank sees fit, and the Bank may at any
time change any appropriation as the Bank sees fit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFAULT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You must comply with the payment and other obligations
that you have made in favour of the Bank. You must also strictly satisfy the covenants and agreements that you have made in this
Security Agreement. Failure to do so will be considered a default and the Bank will consider its legal remedies and possibly pursue
them. This Clause defines the defaults and outlines your obligations.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless waived by the Bank, the Borrower shall be in
default under this Security Agreement and shall be deemed to be in default under all other agreements between the Borrower and
the Bank in any of the following events:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>the Borrower defaults, or threatens to default, in payments when due of any of the Obligations; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>the Borrower is in breach of, or threatens to breach, any term, condition, obligation or covenant made by it to or with the
Bank, or any representation or warranty of the Borrower to the Bank is untrue or ceases to be accurate, whether or not contained
in this Security Agreement; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>the Borrower or a guarantor of the Borrower declares itself to be insolvent or admits in writing its inability to pay its debts
generally as they become due, or makes an assignment for the benefit of its creditors, is declared bankrupt, makes a proposal or
otherwise takes advantage of any provisions for relief under the <I><U>Bankruptcy and Insolvency Act</U></I> (Canada), the <I><U>Companies
Creditors' Arrangement Act</U></I> (Canada) or similar legislation in any jurisdiction, or makes an authorized assignment; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>a receiver, manager, receiver and manager or receiver-manager of all or a part of the Collateral is appointed; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(e)</TD><TD>an order is made or a resolution is passed for the winding up of the Borrower or a guarantor of the Borrower; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(f)</TD><TD>the Borrower or a guarantor of the Borrower ceases or threatens to cease to carry on all or a substantial part of its business
or makes or threatens to make a sale of all or substantially all of its assets; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(g)</TD><TD>distress or execution is levied or issued against all or any part of the Collateral; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(h)</TD><TD>if the Borrower is a corporation and any member or shareholder:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>commences an action against the Borrower; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>gives a notice of dissent to the Borrower in accordance with the provisions of any governing legislation; or</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>if the Borrower is a corporation and its voting control changes without the Bank's prior written consent; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(j)</TD><TD>the Borrower uses any monies advanced to it by the Bank for any purpose other than as agreed upon by the Bank; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(k)</TD><TD>without the Bank&rsquo;s prior written consent, the Borrower creates or permits to exist any security interest, charge, encumbrance,
lien or claim against any of the Collateral which ranks or could in any event rank in priority to or on an equal basis with any
of the Security Interests; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(l)</TD><TD>the holder of any other security interest, charge, encumbrance, lien or claim against any of the Collateral does anything to
enforce or realize on such security interest, charge, encumbrance, lien or claim; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(m)</TD><TD>the Borrower enters into an amalgamation, a merger or other similar arrangement with any other person without the Bank's prior
written consent or, if the Borrower is a corporation, it is continued or registered in a different jurisdiction without the Bank's
prior written consent; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(n)</TD><TD>the Bank in good faith and on commercially reasonable grounds believes that the prospect of payment or performance of any of
the Obligations is impaired or that any of the Collateral is or is about to be placed in jeopardy or removed from the jurisdiction
in which this Security Agreement has been registered; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(o)</TD><TD>the lessor under any lease to the Borrower of any real or personal property takes any steps to or threatens to terminate such
lease or otherwise exercise any of its remedies under such lease as a result of any default by the Borrower; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(p)</TD><TD>the Borrower causes or allows hazardous materials to be brought upon any lands or premises occupied by the Borrower or to be
incorporated into any of its assets, or the Borrower causes, permits, or fails to remedy any environmental contamination upon,
in or under any of its lands or assets, or fails to comply with any abatement or remediation order given by a responsible authority;
or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(q)</TD><TD>any permit, license, certification, quota or order granted to or held by the Borrower is cancelled, revoked or reduced, as
the case may be, or any order against the Borrower is enforced, preventing the business of the Borrower from being carried on for
more than 5 days or materially adversely changing the condition (financial or otherwise) of the Borrower&rsquo;s business; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(r)</TD><TD>if an individual, the Borrower dies or is declared incompetent by a court of competent jurisdiction.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ENFORCEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(If a default occurs, the Bank has numerous remedies
and legal rights, including enforcement of the Security Agreement according to this Clause. You also have rights, provided by the
<I>Personal Property Security Act</I> and the common law in your jurisdiction.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any default under this Security Agreement the Bank
may declare any or all of the Obligations whether or not payable on demand to become immediately due and payable and the Security
Interests will immediately become enforceable. To enforce and realize on the Security Interests the Bank may take any action permitted
by law or in equity as it may deem expedient and in particular, without limitation, the Bank may do any of the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>appoint by instrument a receiver, manager, receiver and manager or receiver-manager (the &quot;Receiver&quot;) of all or any
part of the Collateral, with or without bond as the Bank may determine, and in its absolute discretion remove such Receiver and
appoint another in its stead;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>enter upon any of the Borrower&rsquo;s premises at any time and take possession of the Collateral with power to exclude the
Borrower, its agents and its servants, without becoming liable as a mortgagee in possession;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>preserve, protect and maintain the Collateral and make such replacements and repairs and additions to the Collateral as the
Bank deems advisable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(d)</TD><TD>dispose of all or part of the Collateral, whether by public or private sale or lease or otherwise, in such manner, at such
price as can be reasonably obtained and on such terms as to credit and with such conditions of sale and stipulations as to title
or conveyance or evidence of title or otherwise as to the Bank may seem reasonable, provided that if any sale, lease or other disposition
is on credit the Borrower will not be entitled to be credited with the proceeds of any such sale, lease or other disposition until
the monies are actually received;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(e)</TD><TD>register assignments of the Intellectual Property, and use sell, assign, license or sub-license any of the Intellectual Property;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(f)</TD><TD>exercise all of the rights and remedies of a secured party under the Act and any other applicable laws.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Receiver appointed pursuant to this Security Agreement
insofar as responsibility for its actions is concerned shall be the agent of the Borrower and not of the Bank and, to the extent
permitted by law or to such lesser extent permitted by its appointment, shall have all the powers of the Bank under this Security
Agreement, and in addition shall have power to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>carry on the Borrower&rsquo;s business and for such purpose from time to time to borrow money either secured or unsecured,
and if secured by granting a security interest on the Collateral, such security interest may rank before or on an equal basis with
or behind any of the Security Interests and if it does not so specify such security interest shall rank in priority to the Security
Interests; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>make an assignment for the benefit of the Borrower's creditors or a proposal on behalf of the Borrower under the <I><U>Bankruptcy
and Insolvency Act</U></I> (Canada); and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>commence, continue or defend proceedings in the name of the Receiver or in the name of the Borrower for the purpose of protecting,
seizing, collecting, realizing or obtaining possession of or payment for the Collateral; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>make any arrangement or compromise that the Receiver deems expedient.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">15.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the claims, if any, of the creditors of the
Borrower ranking in priority to this Security Agreement, all amounts realized from the disposition of the Collateral pursuant to
this Security Agreement will be applied as the Bank, in its absolute discretion and to the full extent permitted by law, may direct
as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>in payment of all costs, charges and expenses (including legal fees and disbursements on a solicitor and its own client basis)
incurred by the Bank respecting or incidental to:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(i)</TD><TD>the exercise by the Bank of the rights and powers granted to it by this Security Agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 27.35pt">(ii)</TD><TD>the appointment of the Receiver and the exercise by the Receiver of the powers granted to it by this Security Agreement, including
the Receiver's reasonable remuneration and all outgoings properly payable by the Receiver;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>in or toward payment to the Bank of all principal and other monies (except interest) due in respect of the Obligations;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>in or toward payment to the Bank of all interest remaining unpaid respecting the Obligations; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>in payment to those parties entitled thereto under the Act.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS PROTECTING THE BANK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(You have granted this Security Agreement to the Bank
in consideration by the Bank advancing funds or providing credit or a credit facility to you. The Bank will not be responsible
for debts or liabilities that may arise except to the extent that it agrees to be responsible or liable in this Security Agreement.
If enforcement becomes necessary, the Bank will act in good faith and in a commercially reasonable manner.)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the full extent permitted by law, the Bank shall
not be liable for any debts contracted by it during enforcement of this Security Agreement, for damages to persons or property
or for salaries or non-fulfilment of contracts during any period when the Bank shall manage the Collateral upon entry or seizure,
nor shall the Bank be liable to account as a mortgagee in possession or for anything except actual receipts or be liable for any
loss on realization or for any default or omission for which a mortgagee in possession may be liable. The Bank shall not be bound
to do, observe or perform or to see to the observance or performance by the Borrower of any obligations or covenants imposed upon
the Borrower nor shall the Bank, in the case of securities, instruments or chattel paper, be obliged to preserve rights against
other persons, nor shall the Bank be obliged to keep any of the Collateral identifiable. To the full extent permitted by law, the
Borrower waives any provision of law permitted to be waived by it which imposes greater obligations upon the Bank than described
above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Bank nor any Receiver appointed by it shall
be liable or accountable for any failure to seize, collect, realize, sell or obtain payments for the Collateral nor shall they
be bound to institute proceedings for the purposes of seizing, collecting, realizing or obtaining payment or possession of the
Collateral or the preserving of any right of the Bank, the Borrower or any other party respecting the Collateral. The Bank shall
also not be liable for any misconduct, negligence, misfeasance by the Bank, the Receiver or any employee or agent of the Bank or
the Receiver, or for the exercise of the rights and remedies conferred upon the Bank or the Receiver by this Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank or any Receiver appointed by it may grant extensions
of time and other indulgences, take and give securities, accept compromises, grant releases and discharges, release any part of
the Collateral to third parties and otherwise deal with the debtors of the Borrower, co-obligants, guarantors and others and with
the Collateral and other securities as the Bank may see fit without liability to the Bank and without prejudice to the Bank&rsquo;s
rights respecting the Obligations or the Bank's right to hold and realize the Collateral.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank in its sole discretion may realize upon any
other security provided by the Borrower in any order or concurrently with the realization under this Security Agreement whether
such security is held by it at the date of this Security Agreement or is provided at any time in the future. No realization or
exercise of any power or right under this Security Agreement or under any other security shall prejudice any further realization
or exercise until all Obligations have been fully paid and satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any right of the Bank and any obligation of the Borrower
arising under any other agreements between the Bank and the Borrower shall survive the signing, registration and advancement of
any money under this Security Agreement, and no merger respecting any such right or obligation shall occur by reason of this Security
Agreement. The obligation, if any, of the Borrower to pay legal fees, a commitment fee, a standby fee or administration fees, under
the terms of the Bank's commitment letter with the Borrower shall survive the signing and registration of this Security Agreement
and the Bank&rsquo;s advancement of any money to the Borrower and any legal fees, commitment fees, standby fees or administration
fees owing by the Borrower shall be secured by the Collateral.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event that the Bank registers a notice of assignment
of Intellectual Property the Borrower shall be responsible for and shall indemnify the Bank against all maintenance and renewal
costs in respect thereof, and any costs of initiating or defending litigation, together with all costs, liabilities and damages
related thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any taking of possession of the Collateral,
or any other action which the Bank or the Receiver may take, the Borrower now covenants and agrees with the Bank that if the money
realized upon any disposition of the Collateral is insufficient to pay and satisfy the whole of the Obligations due to the Bank
at the time of such disposition, the Borrower shall immediately pay to the Bank an amount equal to the deficiency between the amount
of the Obligations and the sum of money realized upon the disposition of the Collateral, and the Borrower agrees that the Bank
may bring action against the Borrower for payment of the deficiency, notwithstanding any defects or irregularities of the Bank
or the Receiver in enforcing its rights under this Security Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>17.</B></TD><TD><B>APPOINTMENT OF ATTORNEY</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">(You appoint the Bank your attorney
for specific matters.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower hereby irrevocably appoints
the Bank or the Receiver, as the case may be, with full power of substitution, as the attorney of the Borrower for and in the name
of the Borrower to do, make, sign, endorse or execute under seal or otherwise all deeds, documents, transfers, cheques, instruments,
demands, assignments, assurances or consents that the Borrower is obliged to sign, endorse or execute and generally to use the
name of the Borrower and to do everything necessary or incidental to the exercise of all or any of the powers conferred on the
Bank, or the Receiver, as the case may be, pursuant to this Security Agreement. This grant and authority shall continue and survive
any mental infirmity or legal incapacity of the Borrower subsequent to the execution hereof.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONSOLIDATION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Should you wish to redeem the Security Interest,
the Bank may require you to also pay other obligations to it before discharging its Security Interests.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the purposes of the laws of all jurisdictions
in Canada, the doctrine of consolidation applies to this Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NO OBLIGATION TO ADVANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(The Bank determines, in the end, whether any advances
or further advances under the loan facility will be made.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neither the preparation and execution of
this Security Agreement nor the perfection of the Security Interests or the advance of any monies by the Bank shall bind the Bank
to make any advance or loan or further advance or loan, or extend any time for payment of any indebtedness or liability of the
Borrower to the Bank.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>20.</B></TD><TD><B>WAIVER</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">(Indulgences granted by the Bank
should not be taken for granted.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Bank may permit the Borrower to remedy
any default without waiving the default so remedied. The Bank may from time to time and at any time partially or completely waive
any right, benefit or default under this Security Agreement but such waiver shall not be a bar to or a waiver of any such right,
benefit or default thereafter, or of any other right, benefit or default under this Security Agreement. No waiver shall be effective
unless it is in writing and signed by the Bank. No delay or omission on the part of the Bank in exercising any right shall operate
as a waiver of such right or any other right.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(This Clause describes how the various notices referred
to in this Security Agreement may be given.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notice may be given to either party by prepaid
mail or delivered to the party for whom it is intended, at the principal address of such party provided in this Security Agreement
or at such other address as may be given in writing by one party to the other, and any notice if mailed shall be deemed to have
been given at the expiration of three business days after mailing and if delivered, on delivery.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>22.</B></TD><TD><B>EXTENSIONS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Your duties and responsibilities to the Bank remain
in place regardless of any concerns you may have about the loan facility or the Bank's actions.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Bank may grant extensions of time and
other indulgences, take and give up security, accept compositions, compound, compromise, settle, grant releases and discharges,
refrain from perfecting or maintaining perfection of security interests, and otherwise deal with the Borrower, the Borrower&rsquo;s
account debtors, sureties and others and with the Collateral and other security interests as the Bank may see fit without prejudice
to the Borrower&rsquo;s liability or the Bank's right to hold and realize on the Security Interests.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>23.</B></TD><TD STYLE="text-align: justify"><B>NO MERGER</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Except as agreed upon in the Security Agreement or
another contract specifically discussing this point, this Security Agreement is an independent obligation on your part.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Security Agreement shall not create
any merger or discharge of any of the Obligations, or any assignment, transfer, guarantee, lien, contract, promissory note, bill
of exchange or security interest of any form held or which may be held by the Bank now or in the future from the Borrower or from
any other person. The taking of a judgement respecting any of the Obligations will not operate as a merger of any of the covenants
contained in this Security Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>24.</B></TD><TD STYLE="text-align: justify"><B>RIGHTS CUMULATIVE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(This Agreement describes some rights and remedies
of the Bank. The Bank also is entitled to rely on all other rights and remedies available to it in law and in any other agreements
it has entered into with you.)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Bank&rsquo;s rights and remedies set
out in this Security Agreement, and in any other security agreement held by the Bank from the Borrower or any other person to secure
payment and performance of the Obligations, are cumulative and no right or remedy contained in this Security Agreement or any other
security agreements is intended to be exclusive but each will be in addition to every other right or remedy now or hereafter existing
at law, in equity or by statute, or pursuant to any other agreement between the Borrower and the Bank that may be in effect from
time to time.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>25.</B></TD><TD STYLE="text-align: justify"><B>ASSIGNMENT</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Should the Bank assign or transfer or otherwise deal
with this Security Agreement on its own behalf, you agree that the Security Agreement shall remain binding and effective upon you.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Bank may, without notice to the Borrower,
at any time assign or transfer, or grant a security interest in, all or any of the Obligations, this Security Agreement and the
Security Interests. The Borrower agrees that the assignee, transferee or secured party, as the case may be, shall have all of the
Bank's rights and remedies under this Security Agreement and the Borrower will not assert as a defence, counterclaim, right of
set-off or otherwise any claim which it now has or may acquire in the future against the Bank in respect of any claim made or any
action commenced by such assignee, transferee or secured party, as the case may be, and will pay the assigned Obligations to the
assignee, transferee or secured party, as the case may be, as the said Obligations become due.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>26.</B></TD><TD STYLE="text-align: justify"><B>SATISFACTION AND DISCHARGE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(Until this Security Agreement is terminated and any
registrations relating to it are discharged, the Security Agreement will remain effective even though the indebtedness to the Bank
may have been paid.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any partial payment or satisfaction of the
Obligations, or any ceasing by the Borrower to be indebted to the Bank shall not be a redemption or discharge of this Security
Agreement. The Borrower shall be entitled to a release and discharge of this Security Agreement upon full payment and satisfaction
of all Obligations, and upon written request by the Borrower and, subject to applicable law, payment to the Bank of an administrative
fee to be fixed by the Bank and payment of all costs, charges, expenses and legal fees and disbursements (on a solicitor and his
own client basis) incurred by the Bank in connection with the Obligations and such release and discharge. The Borrower shall, subject
to applicable law, pay an administrative fee, to be fixed by the Bank, for the preparation or execution of any full or partial
release or discharge by the Bank of any security it holds, of the Borrower, or of any guarantor or covenantor with respect to any
Obligations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>27.</B></TD><TD STYLE="text-align: justify"><B>ENVIRONMENT</B></TD>
</TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>it operates and will continue to operate in conformity with all applicable environmental laws, regulations, standards, codes,
ordinances and other requirements of any jurisdiction in which it carries on business and will ensure its staff is trained as required
for that purpose;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>it has an environmental emergency response plan and all officers and employees are familiar with that plan and their duties
under it;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(c)</TD><TD>it possesses and will maintain all environmental licences, permits and other governmental approvals as may be necessary to
conduct its business and maintain the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(d)</TD><TD>there has been no complaint, prosecution, investigation or proceeding, environmental or otherwise, respecting the Borrower's
business or assets including without limitation the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(f)</TD><TD>it will advise the Bank immediately upon becoming aware of any environmental problems relating to its business or the Collateral;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(g)</TD><TD>it will provide the Bank with copies of all communications with environmental officials and all environmental studies or assessments
prepared for the Borrower and it consents to the Bank contacting and making enquiries of environmental officials or assessors;</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(h)</TD><TD>it will from time to time when requested by the Bank provide to the Bank evidence of its full compliance with the Borrower's
obligations in this Clause 27.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>28.</B></TD><TD STYLE="text-align: justify"><B>ENUREMENT</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Security Agreement shall enure to the
benefit of the Bank and its successors and assigns, and shall be binding upon the Borrowers and its heirs, executors, administrators,
successors and any assigns permitted by the Bank, as the case may be.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>29.</B></TD><TD STYLE="text-align: justify"><B>INTERPRETATION</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">29.1</TD><TD STYLE="text-align: justify">In this Security Agreement:</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>&quot;Collateral&quot; has the meaning set out in Clause 1 and any reference to the Collateral shall, unless the context otherwise
requires, be deemed to be a reference to the Collateral in whole or in part;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>&quot;the Act&quot; means the <I>Personal Property Security Act</I> of the province in which the branch of the Bank is located,
as described on page 1 of this Security Agreement, and all regulations under the Act, as amended from time to time.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Words and expressions used in this Security Agreement
that have been defined in the Act shall be interpreted in accordance with their respective meanings given in the Act unless otherwise
defined in this Security Agreement or unless the context otherwise requires.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The invalidity or unenforceability of the whole or any
part of any clause of this Security Agreement shall not affect the validity or enforceability of any other clause or the remainder
of such clause of this Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The headings used in this Security Agreement have been
inserted for convenience of reference only and shall not define, limit, alter or enlarge the meaning of any provision of this Security
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Security Agreement shall be governed by the laws
of the province referred to in subclause 29.1(b). For enforcement purposes, the Borrower hereby attorns to the jurisdiction of
the courts and laws of any province, state, territory or country in which the Bank enforces its rights and remedies hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COPY OF AGREEMENT AND FINANCING STATEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.35pt; text-indent: -27.35pt">The Borrower:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(a)</TD><TD>acknowledges receiving a copy of this Security Agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27.35pt">(b)</TD><TD>if the Act so permits, waives all rights to receive from the Bank a copy of any financing statement or financing change statement
filed, or any verification statement or other document received at any time respecting this Security Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>31.</B></TD><TD STYLE="text-align: justify"><B>TIME</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Time shall in all respects be of the essence.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>32.</B></TD><TD STYLE="text-align: justify"><B>INDEPENDENT ADVICE</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower acknowledges having received,
or having had the opportunity to receive, independent legal and accounting advice respecting this Security Agreement and its effect.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>33.</B></TD><TD STYLE="text-align: justify"><B>PARENTHETICAL COMMENTS</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower acknowledges and agrees that
the comments in parentheses are intended to provide a brief but not thorough indication of the intent of the legal provisions that
follow in each subsequent clause, and do not form part of this Security Agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>34.</B></TD><TD STYLE="text-align: justify"><B>THE COMMITMENT LETTER</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Bank has extended an offer of financing
or a commitment letter to the Borrower relating to the loan facilities secured by this Security Agreement. The Borrower acknowledges
and agrees that in the event of any discrepancy between any term of this Security Agreement and any term of the commitment letter,
the terms of the commitment letter shall apply and take precedence over the terms of this Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN WITNESS WHEREOF</B> the Borrower has hereunto set his
hand and seal or has affixed its corporate seal duly attested by the hand(s) of its proper officer(s) in that behalf, on the day
and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">LAKELAND PROTECTIVE REAL ESTATE INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Witness)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Borrower)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Per:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">/s/ Gary Pokrassa</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gary Pokrassa, CFO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">I have authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Subclause 1.1(a)</U>:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.</TD><TD>the following specific items, even though they may be included within the descriptions of Collateral (insert description by
item or kind):</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.</TD><TD>the following serial numbered goods:</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="width: 64%; text-indent: 0in; padding-left: -0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Serial No. (re&nbsp;&nbsp;motor vehicles &amp; trailers, etc.)</B></FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Year</B></FONT></TD>
    <TD STYLE="width: 23%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Make and Model</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.</TD><TD>Location(s) of the Collateral:</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">59 Bury Court, Brantford, Ontario N3S 0A9</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rev. May, 2008</P>

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


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





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