<SEC-DOCUMENT>0001104659-25-023015.txt : 20250312
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<ACCEPTANCE-DATETIME>20250312171403
ACCESSION NUMBER:		0001104659-25-023015
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		19
CONFORMED PERIOD OF REPORT:	20250312
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:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250312
DATE AS OF CHANGE:		20250312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Armata Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0000921114
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				911549568
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37544
		FILM NUMBER:		25732703

	BUSINESS ADDRESS:	
		STREET 1:		5005 MCCONNELL AVE
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90066
		BUSINESS PHONE:		310-665-2928

	MAIL ADDRESS:	
		STREET 1:		5005 MCCONNELL AVE
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90066

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AmpliPhi Biosciences Corp
		DATE OF NAME CHANGE:	20130222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TARGETED GENETICS CORP /WA/
		DATE OF NAME CHANGE:	19940331
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<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, DC 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<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>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section&#160;13 or 15(d) of
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&#8217;s Telephone number)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Check the appropriate box below if the Form 8-K filing is intended
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&#160;</p>

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<tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;
230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167; 240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Emerging growth company&#160;<span style="font-family: Wingdings"><span id="xdx_909_edei--EntityEmergingGrowthCompany_c20250312__20250312_zqTtucu1zVsb"><ix:nonNumeric contextRef="AsOf2025-03-12" format="ixt:booleanfalse" id="Fact000025" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.&#160;<span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b)&#160;of
the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 30%; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><span style="font-size: 10pt">Trading
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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 37%; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><span style="font-size: 10pt">Name
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

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    <td style="font-size: 10pt"><b>Entry into a Material Definitive Agreement.</b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On March 12, 2025, Armata Pharmaceuticals, Inc. (the &#8220;Company&#8221;)
announced in the press release furnished hereto as Exhibit 99.1 that, on March 12, 2025, it had entered into, as borrower, a credit
and security agreement (the &#8220;March 2025 Credit Agreement&#8221;) with Innoviva Strategic Opportunities LLC (&#8220;Innoviva&#8221;),
a wholly owned subsidiary of Innoviva, Inc., a principal shareholder of the Company. The March 2025 Credit Agreement provides for a secured
term loan facility in an aggregate amount of $10 million (the &#8220;Loan&#8221;) at an interest rate of 14.0% per annum, and has a maturity
date of March 12, 2026. Repayment of the Loan is guaranteed by the Company&#8217;s domestic subsidiaries, and the Loan is secured
by substantially all of the assets of the Company and the subsidiary guarantors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The March 2025 Credit Agreement contains customary affirmative and
negative covenants and representations and warranties, including financial reporting obligations and certain limitations on indebtedness,
liens, investments, distributions (including dividends), collateral, investments, mergers or acquisitions and fundamental corporate changes.
The March 2025 Credit Agreement also includes customary events of default, including payment defaults, breaches of provisions under the
loan documents, certain losses or impairment of collateral and related security interests, the occurrence of certain events that could
reasonably be expected to have a &#8220;material adverse effect&#8221; as set forth in the March 2025 Credit Agreement, certain bankruptcy
or insolvency events, and a material deviation from the Company&#8217;s operating budget.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Concurrently with the execution of the March 2025 Credit Agreement,
the Company entered into amendments (together, the &#8220;Amendments&#8221;) to: (i) that certain credit and security agreement (the &#8220;First
Amendment to March 2024 Credit Agreement&#8221;), dated March 4, 2024, by and among the Company, as borrower, Innoviva, as lender, and
certain domestic subsidiaries of the Company, as guarantors; (ii) that certain credit and security agreement (the &#8220;Third Amendment
to July 2023 Credit Agreement&#8221;), dated as of July 10, 2023, by and among the Company, as borrower, Innoviva, as lender, and certain
domestic subsidiaries of the Company, as guarantors; and (iii) that certain secured convertible credit and security agreement (the &#8220;Fourth
Amendment to Convertible Credit Agreement&#8221;), dated as of January 10, 2023, by and among the Company, as borrower, Innoviva, as lender,
and certain domestic subsidiaries of the Company, as guarantors. Pursuant to the Amendments, the parties agreed to extend the maturity
date of each loan to March 12, 2026.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The foregoing descriptions of the March 2025 Credit Agreement, the
First Amendment to March 2024 Credit Agreement, the Third Amendment to July 2023 Credit Agreement, and the Fourth Amendment to Convertible
Credit Agreement are qualified in their entirety by the full text of such documents, which are filed as Exhibit 10.1, Exhibit 10.2, Exhibit
10.3, and Exhibit 10.4, respectively, and are incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 72px; font-size: 10pt"><b>Item 2.03</b></td>
    <td style="font-size: 10pt"><b>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The disclosure set forth under Item 1.01 of this Current Report on
Form 8-K is incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 72px; font-size: 10pt"><b>Item 7.01</b></td>
    <td style="font-size: 10pt"><b>Regulation FD Disclosure.</b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On March 12, 2025, the Company issued a press release announcing
the matters discussed under Item 1.01 of this Current Report on Form 8-K. The full text of the press release issued in connection with
this announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The information in this Item 7.01 and the attached Exhibit 99.1 is
being furnished and shall not be deemed &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that Section. The information in this Item 7.01 and the attached Exhibit 99.1 shall
not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 72px; font-size: 10pt"><b>Item 9.01</b></td>
    <td style="font-size: 10pt; text-align: justify"><b>Financial Statements and Exhibits.</b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; white-space: nowrap; text-align: center"><b>Exhibit<br/>
No.</b></td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: black 1pt solid; white-space: nowrap"><b>Description</b></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center"><a href="tm258929d1_ex10-1.htm">10.1</a></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><a href="tm258929d1_ex10-1.htm">Credit and Security Agreement, dated March 12, 2025.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center"><a href="tm258929d1_ex10-2.htm">10.2</a></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><a href="tm258929d1_ex10-2.htm">First Amendment to March 2024 Credit Agreement.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center"><a href="tm258929d1_ex10-3.htm">10.3</a></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><a href="tm258929d1_ex10-3.htm">Third Amendment to July 2023 Credit Agreement.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center"><a href="tm258929d1_ex10-4.htm">10.4</a></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><a href="tm258929d1_ex10-4.htm">Fourth Amendment to Convertible Credit Agreement.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center"><a href="tm258929d1_ex99-1.htm">99.1</a></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><a href="tm258929d1_ex99-1.htm">Press Release, dated March 12, 2025.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; text-align: center">104</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: justify">Cover Page Interactive Data File (embedded within Inline XBRL document).</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="font-size: 10pt; vertical-align: top"><span style="font-size: 10pt">Date: March 12, 2025</span></td>
    <td colspan="2" style="font-size: 10pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Armata
    Pharmaceuticals,&#160;Inc.</b></span></td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td></tr>
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    <td style="font-size: 10pt; width: 50%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </span></td>
    <td style="border-bottom: black 1pt solid; font-size: 10pt; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    David D. House</span></td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&#160;</span></td>
    <td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David D. House</span></td></tr>
  <tr style="font-size: 10pt">
    <td style="font-size: 10pt; vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="font-size: 10pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Vice President,
    Finance and Principal Financial Officer </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

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<TYPE>EX-10.1
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<FILENAME>tm258929d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Exhibit&nbsp;10.1</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Credit
and Security Agreement, dated as of March&nbsp;12, 2025, by and among Armata Pharmaceuticals,&nbsp;Inc., a Washington corporation (the
 &ldquo;<U>Borrower</U>&rdquo;), each Subsidiary of the Borrower listed as a &ldquo;Guarantor&rdquo; on the signature pages&nbsp;hereto
(together with each other Person that executes a joinder agreement and becomes a &ldquo;Guarantor&rdquo; hereunder or otherwise guarantees
all or any part of the Obligations (as hereinafter defined), each a &ldquo;<U>Guarantor</U>&rdquo; and collectively, the &ldquo;<U>Guarantors</U>&rdquo;)
and Innoviva Strategic Opportunities LLC, a Delaware limited liability company, or an affiliate thereof, as the lender (the &ldquo;<U>Lender</U>&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In
consideration of the premises and the covenants and agreements contained herein, the parties hereto agree as follows:</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DEFINITIONS;
CERTAIN TERMS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Definitions</U>.
As used in this Agreement, the following terms shall have the respective meanings indicated below:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>1934
Act</U>&rdquo; means the Securities Exchange Act of 1934, as amended, now in effect or as amended from time to time and any successor
provisions thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Account
Debtor</U>&rdquo; means, with respect to any Person, each debtor, customer or obligor in any way obligated on or in connection with any
Account Receivable of such Person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Account
Receivable</U>&rdquo; means, with respect to any Person, any and all accounts (as that term is defined in the Uniform Commercial Code),
and any and all rights of such Person to payment for goods sold and/or services rendered, including accounts, general intangibles and
any and all such rights evidenced by chattel paper, instruments or documents, whether due or to become due and whether or not earned
by performance, and whether now or hereafter acquired or arising in the future, and any proceeds arising therefrom or relating thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Action</U>&rdquo;
has the meaning specified therefor in&nbsp;<U>&lrm;Section&nbsp;11.12</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Additional
Amount</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;2.07</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with, such Person. For purposes of this definition, &ldquo;control&rdquo; of a Person means the power,
directly or indirectly, to direct or cause the direction of the management and policies of such Person whether by contract or otherwise.
Notwithstanding anything herein to the contrary, in no event shall the Lender be considered an &ldquo;Affiliate&rdquo; of any Loan Party.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Agreement</U>&rdquo;
means this Credit and Security Agreement, including all amendments, modifications and supplements and any exhibits or schedules to any
of the foregoing, and shall refer to this Agreement as the same may be in effect at the time such reference becomes operative.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Anti-Corruption
Laws</U>&rdquo; means the U.S.&nbsp;Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act and all other anti-bribery
and anti-corruption laws applicable to each Loan Party and its Subsidiaries.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Anti-Terrorism
Laws</U>&rdquo; means any laws relating to terrorism or money laundering, including the USA PATRIOT Act and the laws comprising or implementing
the Bank Secrecy Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Bankruptcy
Code</U>&rdquo; means Title 11 of the United States Code, as amended from time to time and any successor statute or any similar federal
or state law for the relief of debtors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Board</U>&rdquo;
means the Board of Governors of the Federal Reserve System of the United States (or any successor).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Borrower</U>&rdquo;
has the meaning specified therefor in the preamble hereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Borrowing</U>&rdquo;
means the Term Loan made by the Lender pursuant to &lrm;<U>Section&nbsp;2.01</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Business
Day</U>&rdquo; means any day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or
required to close.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Capitalized
Lease</U>&rdquo; means, with respect to any Person, any lease of (or other arrangement conveying the right to use) real or personal property
by such Person as lessee that is required under GAAP to be capitalized on the balance sheet of such Person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Capitalized
Lease Obligations</U>&rdquo; means, with respect to any Person, obligations of such Person and its Subsidiaries under Capitalized Leases,
and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Cash
Equivalents</U>&rdquo; means (a)&nbsp;marketable direct obligations issued or unconditionally guaranteed by the United States Government
or issued by any agency thereof and backed by the full faith and credit of the United States, in each case, maturing within 360 days
from the date of acquisition thereof; (b)&nbsp;commercial paper, maturing not more than 360&nbsp;days after the date of issue rated P<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>1
by Moody&rsquo;s or A<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>1 by Standard&nbsp;&amp; Poor&rsquo;s; (c)&nbsp;certificates
of deposit maturing not more than 360 days after the date of issue, issued by commercial banking institutions and money market or demand
deposit accounts maintained at commercial banking institutions, each of which is a member of the Federal Reserve System and has a combined
capital and surplus and undivided profits of not less than $500,000,000; (d)&nbsp;repurchase agreements having maturities of not more
than 90&nbsp;days from the date of acquisition which are entered into with major money center banks included in the commercial banking
institutions described in clause&nbsp;(c)&nbsp;above and which are secured by readily marketable direct obligations of the United States
Government or any agency thereof; (e)&nbsp;money market accounts maintained with mutual funds having assets in excess of $2,500,000,000,
which assets are primarily comprised of Cash Equivalents described in another clause of this definition; and (f)&nbsp;marketable tax
exempt securities rated A or higher by Moody&rsquo;s or A+ or higher by Standard&nbsp;&amp; Poor&rsquo;s, in each case, maturing within
270 days from the date of acquisition thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Closing
Date Term Loan</U>&rdquo; means a Loan made pursuant to &lrm;<U>Section&nbsp;2.01(a)</U>.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Commitment</U>&rdquo;
means the commitment of the Lender to make the Closing Date Term Loan. The aggregate amount of the Lender&rsquo;s Commitment on the Effective
Date prior to the Borrowing of the Closing Date Term Loan is $10,000,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Collateral</U>&rdquo;
means all of the assets of the Borrower and Guarantors, whether consisting of real, personal, tangible or intangible property, including
accounts, chattel paper (including electronic chattel paper), documents, general intangibles (including contracts, regulatory documentation
and intellectual property), goods and fixtures, instruments, insurance, investment accounts, investment related property, money and deposit
accounts, receivables and receivable records, commercial tort claims, letter-of-credit rights and, to the extent not otherwise included,
all collateral records, collateral support, proceeds, products and supporting obligations, in each case, relating to any of the foregoing,
and including all of the outstanding equity interests of the Borrower&rsquo;s subsidiaries held by any such Person upon which a Lien
is granted or purported to be granted by such Person as security for all or any part of the Obligation, <U>provided</U> that Excluded
Assets shall not constitute Collateral.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Contingent
Indemnity Obligations</U>&rdquo; means any Obligation constituting a contingent, unliquidated indemnification obligation of any Loan
Party, in each case, to the extent (a)&nbsp;such obligation has not accrued and is not yet due and payable and (b)&nbsp;no claim has
been made or is reasonably anticipated to be made with respect thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Contractual
Obligation</U>&rdquo; means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or
other undertaking to which such Person is a party or by which it or any of its property is bound.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Control
Agreement</U>&rdquo; means, with respect to any deposit account, any securities account, commodity account, security entitlement or commodity
contract owned or controlled by the Borrower or any other Loan Party, a springing account control agreement, in form and substance reasonably
satisfactory to the Lender, among the Lender, the financial institution or other Person at which such account is maintained or with which
such entitlement or contract is carried and the Loan Party maintaining such account, effective to grant springing &ldquo;control&rdquo;
(as defined under the applicable UCC) over such account to the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Copyright
License</U>&rdquo; means any written agreement, now or hereafter in effect, granting any right to or from any Loan Party under any Copyright,
and all rights of any Loan Party under any such agreement (including any such rights that such Loan Party has the right to license).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Copyrights</U>&rdquo;
means all of the following: (a)&nbsp;all copyright rights in any work subject to the copyright laws of the United States or any other
country, whether as author, assignee, transferee or otherwise; (b)&nbsp;all registrations and applications for registration thereof in
the United States or any other country, including registrations, supplemental registrations and pending applications for registration
in the United States Copyright Office and the right to obtain all renewals thereof, including those listed on <U>Schedule <I>&lrm;</I>5.01(m)</U>;
(c)&nbsp;all claims for, and rights to sue for, past or future infringements of any of the foregoing; (d)&nbsp;all income, royalties,
damages and payments now or hereafter due and payable with respect to any of the foregoing, including damages and payments for past or
future infringement thereof; and (e)&nbsp;all other rights accruing thereunder or pertaining thereto throughout the world.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Debtor
Relief Law</U>&rdquo; means the Bankruptcy Code and any other liquidation, conservatorship, bankruptcy, general assignment for the benefit
of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief law of the United States
or other applicable jurisdiction from time to time in effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Default</U>&rdquo;
means an event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Default
Interest</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;2.05(b)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Disposition</U>&rdquo;
means (a)&nbsp;any transaction, or series of related transactions, pursuant to which any Person or any of its Subsidiaries sells, assigns,
transfers, leases, licenses (as licensor) or otherwise disposes of any property or assets (whether now owned or hereafter acquired) to
any other Person, in each case, whether or not the consideration therefor consists of cash, securities or other assets owned by the acquiring
Person and (b)&nbsp;any sale or issuance by the Borrower or any of its Subsidiaries of any shares of its Equity Interests. For purposes
of clarification, &ldquo;<U>Disposition</U>&rdquo; shall include (a)&nbsp;the sale or other disposition for value of any contracts or
(b)&nbsp;the early termination or modification of any contract resulting in the receipt by any Loan Party of a cash payment or other
consideration in exchange for such event (other than payments in the ordinary course for accrued and unpaid amounts due through the date
of termination or modification).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Disqualified
Equity Interests</U>&rdquo; means any Equity Interest that, by its terms (or by the terms of any security or other Equity Interest into
which it is convertible or for which it is exchangeable), or upon the happening of any event or condition, (a)&nbsp;matures or is mandatorily
redeemable, pursuant to a sinking fund obligation (except as a result of a change of control or asset sale so long as any rights of the
holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the
Loan and all other Obligations and the termination of the Commitment), (b)&nbsp;is redeemable at the option of the holder thereof, in
whole or in part, (c)&nbsp;provides for the scheduled payments of dividends or distributions in cash, or (d)&nbsp;is convertible into
or exchangeable for (i)&nbsp;Indebtedness or (ii)&nbsp;any other Equity Interests that would constitute Disqualified Equity Interests,
in each case of clauses (a)&nbsp;through (d), prior to the date that is 91 days after the Maturity Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Domestic
Subsidiary</U>&rdquo; means any Subsidiary that is organized under the laws of the United States, any state thereof or the District of
Columbia.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Effective
Date</U>&rdquo; means the date on which all conditions precedent set forth in <U>&lrm;Section&nbsp;4.01</U> have been satisfied.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Employee
Plan</U>&rdquo; means an employee benefit plan (other than a Multiemployer Plan) covered by Title IV of ERISA and maintained for employees
of any Loan Party or any of its ERISA Affiliates at any time during the prior six calendar years.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Environmental
Laws</U>&rdquo; means the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. &sect; 9601, <U>et seq</U>.),
the Hazardous Materials Transportation Act (49 U.S.C. &sect; 1801, <U>et seq</U>.), the Resource Conservation and Recovery Act (42&nbsp;U.S.C.
 &sect;&nbsp;6901, <U>et seq</U>.), the Federal Clean Water Act (33&nbsp;U.S.C. &sect;&nbsp;1251 <U>et seq</U>.), the Clean Air Act (42&nbsp;U.S.C.
 &sect;&nbsp;7401 <U>et seq</U>.), the Toxic Substances Control Act (15&nbsp;U.S.C. &sect;&nbsp;2601 <U>et seq</U>.) and the Occupational
Safety and Health Act (29&nbsp;U.S.C. &sect;&nbsp;651 <U>et seq</U>.), as such laws may be amended or otherwise modified from time to
time, and any other Requirement of Law, permit, license or other binding determination of any Governmental Authority imposing liability
or establishing standards of conduct for protection of the environment or the release of any Hazardous Materials into the environment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Environmental
Liabilities and Costs</U>&rdquo; means all liabilities, monetary obligations, remedial actions, losses, damages, punitive damages, consequential
damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts and consultants
and costs of investigations and feasibility studies), fines, penalties, sanctions and interest incurred as a result of any claim or demand
by any Governmental Authority or any third party, and which relate to any environmental condition on or a release of Hazardous Materials
from or onto (a)&nbsp;any property presently or formerly owned by any Loan Party or any of its Subsidiaries or (b)&nbsp;any facility
which received Hazardous Materials generated by any Loan Party or any of its Subsidiaries.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Environmental
Lien</U>&rdquo; means any Lien in favor of any Governmental Authority for Environmental Liabilities and Costs.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Equity
Interests</U>&rdquo; means (a)&nbsp;all shares of capital stock (whether denominated as common stock or preferred stock), equity interests,
beneficial, partnership or membership interests, joint venture interests, participations or other ownership interests in or equivalents
(regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting and (b)&nbsp;all securities
convertible into or exchangeable for any of the foregoing with respect to such Person and all warrants, options or other rights to purchase,
subscribe for or otherwise acquire any of the foregoing, whether or not presently convertible, exchangeable or exercisable, but, in each
case, excluding (i)&nbsp;any debt security that is convertible into or exchangeable for any such shares (or such other equity interests)
prior to the conversion or exchange and (ii)&nbsp;any stock appreciation rights, interests in phantom equity plans or similar rights
or interests.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>ERISA</U>&rdquo;
means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute of similar import, and regulations thereunder,
in each case, as in effect from time to time. References to sections of ERISA shall be construed also to refer to any successor sections.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>ERISA
Affiliate</U>&rdquo; means, with respect to any Person, any trade or business (whether or not incorporated) which is a member of a group
of which such Person is a member and which would be deemed to be a &ldquo;controlled group&rdquo; within the meaning of Sections 414(b),
(c), (m)&nbsp;and (o)&nbsp;of the Internal Revenue Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Event
of Default</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;7.01</U>.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Excluded
Assets</U>&rdquo; shall mean any of the following: (i)&nbsp;voting stock of any Excluded Subsidiary solely to the extent that such stock
represents more than 65% of the outstanding voting stock of such Excluded Subsidiary and, with respect to any such Excluded Subsidiary
created or acquired after the Effective Date, such pledge of greater than 65% also would have an adverse tax effect (which pledge is
not required to be governed by the laws of the jurisdiction of such Subsidiary so long as such Subsidiary is an Excluded Subsidiary);
(ii)&nbsp;any rights or interest in any contract, lease, permit, license, or license agreement existing on the Effective Date covering
real or personal property of any Loan Party if under the terms of such contract, lease, permit, license, or license agreement, or applicable
Requirements of Law with respect thereto, the grant of a Lien is prohibited as a matter of law or under the terms of such contract, lease,
permit, license, or license agreement; (iii)&nbsp;any United States intent-to-use trademark applications prior to the filing with and
acceptance by the U.S.&nbsp;Patent and Trademark Office of a &ldquo;Statement of Use&rdquo; or an &ldquo;Amendment to Allege Use&rdquo;
with respect thereto, to the extent that , if any, and during the period in which, if any, the grant of a Lien therein would impair the
validity or enforceability of such intent-to-use trademark application or any registration that issues therefrom under applicable federal
law (provided that after such period, such intent-to-use application shall be automatically subject to the security interest granted
herein and deemed to be included in the Collateral); (iv)&nbsp;property owned by any Loan Party that is subject to a purchase money Lien
or a Capitalized Lease permitted hereunder if (and only for so long as) the contractual obligation pursuant to which such Lien is granted
(or in the document providing for such Capital Lease) prohibits or requires the consent of any Person other than a Loan Party or its
Affiliates which has not been obtained as a condition to the creation of any other Lien on such property, including, but not limited
to, the specified Capital Equipment which will be purchased through a lease program; (v)&nbsp;vehicles or other goods which are subject
to a certificate of title law, (vi)&nbsp;any deposit accounts, securities accounts and commodity accounts exclusively used for payroll,
payroll taxes, accrued and unpaid employee compensation payments and other employee wage and benefit payments to or for any Loan Party&rsquo;s
employees and (including salaries, wages, benefits and expense reimbursements, 401(k)&nbsp;and other retirement plans and employee benefits),
(vii)&nbsp;any letter of credit rights (to the extent a security interest therein cannot be perfected by the filing of a UCC-1 financing
statement) with a face value of less than $250,000; (viii)&nbsp;commercial tort claims seeking damages of less than $250,000, and (ix)&nbsp;any
property as to which the Lender and the Borrower agree in writing that the costs or other consequences of obtaining a security interest
therein are excessive in view of the benefits to be obtained by the Lender therefrom.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Excluded
Subsidiary</U>&rdquo; means any Foreign Subsidiary that is an Immaterial Subsidiary.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Excluded
Taxes</U>&rdquo; means any of the following Taxes imposed on or with respect to the Lender or required to be withheld or deducted from
a payment to the Lender, (a)&nbsp;Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits
Taxes, in each case, (i)&nbsp;imposed as a result of the Lender being organized under the laws of, or having its principal office or,
in the case of the Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision
thereof) or (ii)&nbsp;that are Other Connection Taxes, and (b)&nbsp;U.S.&nbsp;federal withholding Taxes imposed on amounts payable to
or for the account of the Lender with respect to an applicable interest in a Loan pursuant to a law in effect on the date on which (i)&nbsp;the
Lender acquires such interest in the Loan or (ii)&nbsp;the Lender changes its lending office, except in each case to the extent that,
pursuant to <U>&lrm;Section&nbsp;2.07</U>, amounts with respect to such Taxes were payable either to the Lender&rsquo;s assignor immediately
before the Lender became a party hereto or to the Lender immediately before it changed its lending office.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Executive
Order No.&nbsp;13224</U>&rdquo; means the Executive Order No.&nbsp;13224 on Terrorist Financing, effective September&nbsp;24, 2001, as
the same has been, or shall hereafter be, renewed, extended, amended or replaced.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Facility</U>&rdquo;
means any real property acquired by the Borrower or any of its Subsidiaries after the Effective Date, including the land on which each
such facility is located, all buildings and other improvements thereon, and all fixtures located thereat or used in connection therewith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>FASB
ASC</U>&rdquo; means the Accounting Standards Codification of the Financial Accounting Standards Board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Financial
Officer</U>&rdquo; means any of the following officers: the chief executive officer, president, vice president of finance and administration,
principal accounting officer, treasurer or controller of the Borrower.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Fiscal
Quarter</U>&rdquo; means, with respect to a particular Fiscal Year, a fiscal quarter corresponding to such Fiscal Year.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Fiscal
Year</U>&rdquo; means the fiscal year of the Borrower and its Subsidiaries ending on December&nbsp;31 of each year.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>FNBO</U>&rdquo;
means First National Bank of Omaha.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Foreign
Subsidiary</U>&rdquo; means any Subsidiary that is not a Domestic Subsidiary.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>GAAP</U>&rdquo;
means generally accepted accounting principles in effect from time to time in the United States, applied on a consistent basis, provided
that for the purpose of <U>&lrm;Section&nbsp;6.02</U> hereof and the definitions used therein, &ldquo;GAAP&rdquo; shall mean generally
accepted accounting principles in effect on the Effective Date and consistent with those used in the preparation of any financial statements,
<U>provided</U>, <U>further</U>, that if there occurs after the date of this Agreement any change in GAAP that affects in any respect
the calculation of any covenant contained in <U>&lrm;Section&nbsp;6.02</U> hereof, the Lender and the Borrower shall negotiate in good
faith amendments to the provisions of this Agreement that relate to the calculation of such covenant with the intent of having the respective
positions of the Lender and the Borrower after such change in GAAP conform as nearly as possible to their respective positions as of
the date of this Agreement and, until any such amendments have been agreed upon, the covenants in <U>&lrm;Section&nbsp;6.02</U> hereof
shall be calculated as if no such change in GAAP has occurred.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Governing
Documents</U>&rdquo; means, (a)&nbsp;with respect to any corporation, the certificate or articles of incorporation and the bylaws (or
equivalent or comparable constitutive documents with respect to any non-U.S.&nbsp;jurisdiction); (b)&nbsp;with respect to any limited
liability company, the certificate or articles of formation or organization, and the operating agreement; (c)&nbsp;with respect to any
partnership, joint venture, trust or other form of business entity, the partnership, joint venture, declaration or other applicable agreement
or documentation evidencing or otherwise relating to its formation or organization, governance and capitalization; and (d)&nbsp;with
respect to any of the entities described above, any other agreement, instrument, filing or notice with respect thereto filed to effectuate
its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Governmental
Authority</U>&rdquo; means any nation or government, any foreign, Federal, state, territory, provincial, city, town, municipality, county,
local or other political subdivision thereof or thereto and any department, commission, board, bureau, instrumentality, agency or other
entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government
(including any supra-national bodies such as the European Union or the European Central Bank).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Guaranteed
Obligations</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;8.01</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Guarantor</U>&rdquo;
means (a)&nbsp;each Subsidiary of the Borrower listed as a &ldquo;Guarantor&rdquo; on the signature pages&nbsp;hereto, and (b)&nbsp;each
other Person (other than an Excluded Subsidiary, so long as such Subsidiary remains an Excluded Subsidiary) which guarantees in writing,
pursuant to <U>&lrm;Section&nbsp;6.01(b)</U>&nbsp;or otherwise, all or any part of the Obligations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Guaranty</U>&rdquo;
means (a)&nbsp;the guaranty of each Guarantor party hereto contained in <U>Article&nbsp;&lrm;VIII</U> hereof and (b)&nbsp;each other
guaranty, in form and substance reasonably satisfactory to the Lender, containing terms and provisions consistent with the provisions
of <U>Article&nbsp;&lrm;VIII</U> hereof, made by any other Guarantor in favor of the Lender guaranteeing all or part of the Obligations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Hazardous
Material</U>&rdquo; means (a)&nbsp;any element, compound or chemical that is defined, listed or otherwise classified as a contaminant,
pollutant, toxic pollutant, toxic or hazardous substance, extremely hazardous substance or chemical, hazardous waste, special waste,
or solid waste under Environmental Laws or that endangers the environment or risk to human health or safety, including any pollutant,
contaminant, hazardous waste or toxic substance which is defined or identified in any Environmental Law and which is present in the environment
in such quantity that it violates any Environmental Law; (b)&nbsp;petroleum and its refined products; (c)&nbsp;polychlorinated biphenyls;
(d)&nbsp;any substance exhibiting a hazardous waste characteristic, including corrosivity, ignitability, toxicity or reactivity as well
as any radioactive or explosive materials; and (e)&nbsp;any asbestos-containing materials.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Immaterial
Subsidiary</U>&rdquo; shall mean, on any date of determination, any Subsidiary that did not have (a)&nbsp;assets with a value in excess
of 5% of the consolidated total assets or (b)&nbsp;revenues representing in excess of 5% of total revenues, in each case, of the Borrower
and the Subsidiaries on a consolidated basis, determined in accordance with GAAP as of the most recent Reporting Date; <U>provided</U>
that in the event total assets or revenues of all Immaterial Subsidiaries taken together with all other Immaterial Subsidiaries as of
such date, have assets with a value in excess of 10% of the consolidated total assets or revenues representing in excess of 10% of total
revenues of the Borrower and the Subsidiaries on a consolidated basis as of such date, the Borrower shall designate one or more Immaterial
Subsidiaries to no longer be Immaterial Subsidiaries so that the foregoing 10% aggregate limit shall not be exceeded, and any such designated
Subsidiary shall thereafter not be deemed to be an Immaterial Subsidiary hereunder.&nbsp; Each Immaterial Subsidiary as of the Effective
Date shall be set forth in <U>Schedule&nbsp;&lrm;1.01(c)</U>, and the Borrower shall update such Schedule&nbsp;on each Reporting Date
as necessary to reflect all Immaterial Subsidiaries at such time (the selection of Subsidiaries to be added to or removed from such Schedule&nbsp;to
be made as the Borrower may determine).&nbsp; Notwithstanding the foregoing, in no event shall any Subsidiary constitute an Immaterial
Subsidiary if such Subsidiary (i)&nbsp;owns any Equity Interests in any Loan Party or (ii)&nbsp;owns or has exclusive rights in any Intellectual
Property that is material to the business of the Borrower and its Subsidiaries.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Indebtedness</U>&rdquo;
means, with respect to any Person, without duplication, (a)&nbsp;all indebtedness of such Person for borrowed money; (b)&nbsp;all obligations
of such Person for the deferred purchase price of property or services (other than trade payables or other accounts payable incurred
in the ordinary course of such Person&rsquo;s business and not outstanding for more than ninety (90) days after the date such payable
was created (or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity
with GAAP have been provided for on the books of such Person), any earn-out, purchase price adjustment or similar obligation until such
obligation appears in the liabilities section of the balance sheet of such Person); (c)&nbsp;all obligations of such Person evidenced
by bonds, debentures, notes or other similar instruments or upon which interest payments are customarily made; (d)&nbsp;all reimbursement,
payment or other obligations and liabilities of such Person created or arising under any conditional sales or other title retention agreement
with respect to property used and/or acquired by such Person, even though the rights and remedies of the lessor, seller and/or lender
thereunder may be limited to repossession or sale of such property; (e)&nbsp;all Capitalized Lease Obligations of such Person; (f)&nbsp;all
obligations and liabilities, contingent or otherwise, of such Person, in respect of letters of credit, acceptances and similar facilities;
(g)&nbsp;all obligations and liabilities, calculated in good faith on a basis in accordance with customary accepted practice, of such
Person under hedging agreements or similar derivative instruments; (h)&nbsp;all monetary obligations under any receivables factoring,
receivables sales or similar transactions and all monetary obligations under any synthetic lease, tax ownership/operating lease, off-balance
sheet financing or similar financing; (i)&nbsp;all obligations and liabilities of others guaranteed by such Person; (j)&nbsp;all Disqualified
Equity Interests; and (k)&nbsp;all obligations referred to in clauses (a)&nbsp;through (i)&nbsp;of this definition of another Person
secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) a Lien upon
property owned by such Person, even though such Person has not assumed or become liable for the payment of such Indebtedness. Notwithstanding
the foregoing, the amount of Indebtedness in which recourse is limited to an identified asset shall be equal to the lesser of (A)&nbsp;the
amount of such obligation and (B)&nbsp;the fair market value of such asset. The Indebtedness of any Person shall include the Indebtedness
of any partnership of or joint venture in which such Person is a general partner or a joint venturer to the extent such Person would
be liable therefor under applicable Requirements of Law or any agreement or instrument by virtue of such Person&rsquo;s ownership interest
in or other relationship with such entity.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Indemnified
Matters</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;11.15(a)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Indemnified
Taxes</U>&rdquo; means (a)&nbsp;Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of
any obligation of any Loan Party under any Loan Document and (b)&nbsp;to the extent not otherwise described in clause (a), Other Taxes.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Indemnitees</U>&rdquo;
has the meaning specified therefor in &lrm;<U>Section&nbsp;11.15(a)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Insolvency
Proceeding</U>&rdquo; means any proceeding commenced by or against any Person under any provision of any Debtor Relief Law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Intellectual
Property</U>&rdquo; means (a)&nbsp;all intellectual property of every kind and nature of any Loan Party, whether now owned or hereafter
acquired by any Loan Party, including, inventions, designs, Patents, Copyrights, Trademarks, Patent Licenses, Copyright Licenses, Trademark
Licenses and other intellectual property licenses, trade secrets, domain names, confidential or proprietary technical and business information,
know-how, show-how or other data or information and all related documentation; (b)&nbsp;all claims for, and rights to sue for, past or
future infringements, misappropriations, dilutions, or other violations of any of the foregoing; (c)&nbsp;all income, royalties, damages
and payments now or hereafter due and payable with respect to any of the foregoing, including damages and payments for past or future
infringement, misappropriation, dilution, or other violations thereof; and (d)&nbsp;all other rights accruing thereunder or pertaining
thereto throughout the world.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Internal
Revenue Code</U>&rdquo; means the Internal Revenue Code of 1986, as amended (or any successor statute thereto) and the regulations thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Investment</U>&rdquo;
means, with respect to any Person, (a)&nbsp;any investment by such Person in any other Person (including Affiliates) in the form of loans,
guarantees, advances or other extensions of credit (excluding Accounts Receivable arising in the ordinary course of business), capital
contributions or acquisitions of Indebtedness (including, any bonds, notes, debentures or other debt securities), Equity Interests, or
all or substantially all of the assets of such other Person (or of any division or business line of such other Person), (b)&nbsp;the
purchase or ownership of any futures contract or liability for the purchase or sale of currency or other commodities at a future date
in the nature of a futures contract, or (c)&nbsp;any investment in any other items that are or would be classified as investments on
a balance sheet of such Person prepared in accordance with GAAP. The amount of any Investment shall be the original cost of such Investment
plus the cost of all additions thereto, less all returns of principal and other cash returns thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Lender</U>&rdquo;
has the meaning specified therefor in the preamble hereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Lender&rsquo;s
Account</U>&rdquo; means an account at a bank designated by the Lender from time to time as the account into which the Loan Parties shall
make all payments to the Lender under this Agreement and the other Loan Documents.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Lien</U>&rdquo;
means any mortgage, deed of trust, pledge, lien (statutory or otherwise), security interest, charge or other encumbrance or security
or preferential arrangement of any nature, including any conditional sale or title retention arrangement, any Capitalized Lease and any
assignment, deposit arrangement or financing lease intended as, or having the effect of, security (other than limitations on the transfer
of Equity Interests imposed by applicable securities laws or any Person&rsquo;s Governing Documents).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Loan</U>&rdquo;
means the loan made to the Borrower pursuant to &lrm;<U>Section&nbsp;2.01</U> hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Loan
Document</U>&rdquo; means this Agreement, any Control Agreement, any Guaranty, any joinder agreement, any Mortgage, the Perfection Certificate,
any landlord waiver, any collateral access agreement and any other agreement, instrument, certificate, report and other document required
to be executed and delivered by a Loan Party pursuant hereto or thereto or otherwise evidencing or securing any Loan or any other Obligation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Loan
Party</U>&rdquo; means the Borrower and any Guarantor.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Material
Adverse Effect</U>&rdquo; means a material adverse effect on any of (a)&nbsp;the operations, assets, liabilities or financial condition
of the Loan Parties taken as a whole, (b)&nbsp;the ability of the Loan Parties taken as a whole to perform any of their obligations under
any Loan Document, (c)&nbsp;the legality, validity or enforceability against a Loan Party of this Agreement or any other Loan Document,
(d)&nbsp;the rights and remedies of the Lender under any Loan Document, or (e)&nbsp;the validity, perfection or priority of a Lien in
favor of the Lender on the Collateral.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Material
Contract</U>&rdquo; means, with respect to any Person, all contracts or agreements as to which the breach, nonperformance, cancellation
or failure to renew by any party thereto could reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Maturity
Date</U>&rdquo; means March&nbsp;12, 2026.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Moody&rsquo;s</U>&rdquo;
means Moody&rsquo;s Investors Service,&nbsp;Inc. and any successor to its rating agency business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Mortgage</U>&rdquo;
means a mortgage, deed of trust or deed to secure debt, in form and substance reasonably satisfactory to the Lender, made by a Loan Party
in favor of the Lender (or any trustee for the benefit of the Lender), securing the Obligations and delivered to the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Multiemployer
Plan</U>&rdquo; means a &ldquo;multiemployer plan&rdquo; as defined in Section&nbsp;4001(a)(3)&nbsp;of ERISA to which any Loan Party
or any of its ERISA Affiliates has contributed, or has been obligated to contribute, to at any time during the preceding 6 years.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Net
Proceeds</U>&rdquo; means, with respect to any event, (a)&nbsp;the cash proceeds received in respect of such event including (i)&nbsp;any
cash received in respect of any non-cash proceeds (including any cash payments received by way of deferred payment of principal pursuant
to a note or installment receivable or purchase price adjustment receivable or otherwise, but excluding any interest payments), but only
as and when received, (ii)&nbsp;in the case of a casualty, insurance proceeds and (iii)&nbsp;in the case of a condemnation or similar
event, condemnation awards and similar payments, minus (b)&nbsp;the sum of (i)&nbsp;all reasonable fees and out-of-pocket expenses paid
to third parties (other than Affiliates) in connection with such event, (ii)&nbsp;in the case of a Disposition of an asset (including
pursuant to a casualty or a condemnation or similar proceeding), the amount of all payments required to be made as a result of such event
to repay Indebtedness (other than the Loan) secured by such asset or otherwise subject to mandatory prepayment as a result of such event
and (iii)&nbsp;the amount of all taxes paid (or reasonably estimated to be payable) and the amount of any reserves established to fund
contingent liabilities reasonably estimated to be payable, in each case during the year that such event occurred or the next succeeding
year and, that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Obligations</U>&rdquo;
means all present and future indebtedness, obligations, and liabilities of each Loan Party to the Lender arising under or in connection
with this Agreement or any other Loan Document, whether or not the right of payment in respect of such claim is reduced to judgment,
liquidated, unliquidated, fixed, contingent, matured, disputed, undisputed, legal, equitable, secured, unsecured, and whether or not
such claim is discharged, stayed or otherwise affected by any proceeding referred to in &lrm;<U>Section&nbsp;7.01</U>. Without limiting
the generality of the foregoing, the Obligations of each Loan Party under the Loan Documents include (a)&nbsp;the obligation (irrespective
of whether a claim therefor is allowed in an Insolvency Proceeding) to pay principal, interest, charges, expenses, fees, attorneys&rsquo;
fees and disbursements, indemnities and other amounts payable by such Person under the Loan Documents, and (b)&nbsp;the obligation of
such Person to reimburse any amount in respect of any of the foregoing that the Lender (in its sole discretion) may elect to pay or advance
on behalf of such Person, to the extent permitted by the terms of the Loan Documents.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>OFAC</U>&rdquo;
means the Office of Foreign Assets Control of the United States Department of the Treasury.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Operating
Budgets</U>&rdquo; means, with respect to any Fiscal Year, a detailed projection of all estimated income, expenses and costs of the Borrower
collectively for each month of such Fiscal Year based on projected operating expenses and other related overhead expenses during such
Fiscal Year, as provided by the Borrower and approved by the Lender pursuant to <U>&lrm;Section&nbsp;6.01(k)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Other
Connection Taxes</U>&rdquo; means, with respect to the Lender, Taxes imposed as a result of a present or former connection between the
Lender and the jurisdiction imposing such Tax (other than connections arising from the Lender having executed, delivered, become a party
to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction
pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or any Loan Document).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Other
Taxes</U>&rdquo; means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from
any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of
a security interest under, or otherwise with respect to, any Loan Document.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Patent
License</U>&rdquo; means any written agreement, now or hereafter in effect, granting to or from any Loan Party any right under any Patent
(including any such rights that such Loan Party has the right to license).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Patents</U>&rdquo;
means all of the following: (a)&nbsp;all patents of the United States or the equivalent thereof in any other country or jurisdiction,
including those listed on <U>Schedule <I>&lrm;</I>5.01(m)</U>, and all applications for patents of the United States or the equivalent
thereof in any other country or jurisdiction, including those listed on <U>Schedule <I>&lrm;</I>5.01(m)</U>, (b)&nbsp;all provisionals,
reissues, extensions, continuations, divisionals, continuations-in-part, reexaminations or revisions thereof, and the inventions or designs
disclosed or claimed therein, including the right to make, use, import and/or sell the inventions disclosed or claimed therein, (c)&nbsp;all
claims for, and rights to sue for, past or future infringements of any of the foregoing, (d)&nbsp;all income, royalties, damages and
payments now or hereafter due and payable with respect to any of the foregoing, including damages and payments for past or future infringement
thereof, and (e)&nbsp;all other rights accruing thereunder or pertaining thereto throughout the world.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Perfection
Certificate</U>&rdquo; means the certificate delivered as provided in <U>Schedule &lrm;6.01(j)</U>&nbsp;providing information with respect
to the property of the Loan Parties.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Borrower Expenses&rdquo;</U> means (a)&nbsp;any expense incurred by the Borrower in connection with research and development plans, including
supporting the development of AP-PA02, AP-SA02, AP-PA03, as well as phage platform activities and other technical operations (solely
to the extent such expense is permitted to be paid in accordance with the most recent Operating Budget provided by the Borrower and approved
by the Lender pursuant to &lrm;<U>Section&nbsp;4.01(b)(x)</U>&nbsp;or &lrm;<U>Section&nbsp;6.01(k)</U>, as the case may be) and (b)&nbsp;any
other expense of the Borrower to which the Lender consents in writing.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Disposition</U>&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;sale
of inventory in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;licensing
or sublicensing, on a non-exclusive basis,&nbsp;Intellectual Property rights in the ordinary course of, and not interfering with, the
business of the Loan Parties or any of their respective Subsidiaries, and solely to the extent not adverse in any material respect to
the interests of the Lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;leasing
or subleasing assets in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(i)&nbsp;the
lapse of Registered Intellectual Property of the Borrower and its Subsidiaries to the extent such item is not material to the conduct
of business of the Loan Parties or any of their respective Subsidiaries and, in the reasonable business judgment of Borrower not economically
desirable in the conduct of their business or (ii)&nbsp;the abandonment of Intellectual Property rights in the ordinary course of business
following the statutory expiration of such Intellectual Property, so long as (in each case under clauses (i)&nbsp;and (ii)), (A)&nbsp;with
respect to copyrights, such copyrights are not material revenue generating copyrights, and (B)&nbsp;such lapse is not adverse in any
material respect to the interests of the Lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
involuntary loss, damage or destruction of property;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition
of use of property;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;transfers
of assets from the Loan Parties or any of their respective Subsidiaries to a Loan Party;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Disposition
of obsolete, surplus, uneconomical, worn-out or not useful property in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;use
and disposition of cash and Cash Equivalents (i)&nbsp;in the ordinary course of business in a manner not otherwise prohibited by this
Agreement or (ii)&nbsp;as consideration for a transaction expressly permitted by this Agreement;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
making of Permitted Investments and Permitted Restricted Payments by any Loan Party, the granting of Permitted Liens by any Loan Party
and the issuance of Equity Interests by any Loan Party to any other Loan Party;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Dispositions
(including discounts, cancellation or forgiveness) of Accounts Receivable in connection with the collection or compromise thereof in
the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Dispositions
in connection with the unwinding of any hedging agreement or similar derivative instrument pursuant to its terms;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
surrender, waiver, settlement, compromise, modification or release of contractual rights, or the settlement, release or surrender of
tort or other claims of any kind, in each case, in the ordinary course of business and solely to the extent not adverse in any material
respect to the interests of the Lender; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Dispositions
not otherwise permitted hereunder; provided that the aggregate book value of all property disposed of pursuant to this clause&nbsp;(n)&nbsp;in
any fiscal year shall not exceed $500,000; provided that (i)&nbsp;at the time of such Disposition, no Default or Event of Default shall
have occurred and been continuing or would result from such Disposition, (ii)&nbsp;the Borrower shall receive not less than 75% of such
consideration in the form of cash or Cash Equivalents (in each case, free and clear of all Liens at the time received), (iii)&nbsp;all
Net Proceeds from such Dispositions shall be reinvested or otherwise applied to prepay the Loan in accordance with <B>&lrm;</B><U>Section&nbsp;2.06(c)</U>&nbsp;and
(iv)&nbsp;such Disposition is for fair market value as reasonably determined by the Borrower in good faith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
FNBO Credit Card Indebtedness</U>&rdquo; means Indebtedness incurred by any Loan Party under the business credit card program with FNBO,
in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Indebtedness</U>&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Indebtedness owing to the Lender under this Agreement and the other Loan Documents;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
purchase money Indebtedness or other Indebtedness consisting of Capitalized Lease Obligations in respect of capital expenditures, permitted
under <B>&lrm;</B><U>Section&nbsp;6.02(f)</U>&nbsp;and entered into by any Company for the purchase or lease of fixed assets (and refinancings
of such loans or Capitalized Lease Obligations) including, but not limited to, the Capital Equipment;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;existing
Indebtedness set forth on <U>Schedule <B>&lrm;</B>1.01(a)</U>;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Permitted
Intercompany Investments;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Indebtedness
incurred in the ordinary course of business under performance, surety, statutory, and appeal bonds or similar obligations or in respect
of worker&rsquo;s compensation claims, and reimbursement obligations in respect of any of the foregoing;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Indebtedness
owed to any Person providing property, casualty, liability, or other insurance to the Loan Parties or their Subsidiaries, so long as
the amount of such Indebtedness is not in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of,
such insurance for the period in which such Indebtedness is incurred and such Indebtedness is outstanding only during such period</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;guarantees
in respect of Indebtedness or other Obligations incurred in the ordinary course of business, in each case permitted to be incurred pursuant
to this definition;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;so
long as, at the time of any incurrence of Indebtedness pursuant to this clause (h), no Default or Event of Default has occurred and is
continuing or would result therefrom, unsecured Indebtedness in an aggregate principal amount not exceeding $50,000, provided that such
Indebtedness is subject to a subordination agreement acceptable to the Lender in its sole discretion;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Indebtedness
representing reasonable deferred compensation owed to the employees of the Loan Parties and their Subsidiaries in the ordinary course
of business in an aggregate principal amount not exceeding $100,000 at any time outstanding;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Indebtedness
incurred in the ordinary course of business with respect to workers compensation claims and health, disability or other employee benefits;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Permitted FNBO Credit Card Indebtedness; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
and all other Indebtedness, in addition to the Indebtedness permitted pursuant to clause (a)&nbsp;above, owing to the Lender (and any
permitted successor or assignee), under any agreement, bond, debenture, note or other similar instrument.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Intercompany Investments</U>&rdquo; means Investments made by (a)&nbsp;a Loan Party to or in another Loan Party and (b)&nbsp;a Subsidiary
that is not a Loan Party to or in another Subsidiary that is not a Loan Party.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Investments</U>&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Investments
in cash and Cash Equivalents;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;existing
Investments set forth on <U>Schedule <B>&lrm;</B>1.01(b)</U>;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Investments
in negotiable instruments deposited or to be deposited for collection in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;advances
made in connection with purchases of goods or services in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Investments
received in settlement of amounts due to any Loan Party or any of its Subsidiaries effected in the ordinary course of business or owing
to any Loan Party or any of its Subsidiaries as a result of Insolvency Proceedings involving an Account Debtor or upon the foreclosure
or enforcement of any Lien in favor of a Loan Party or its Subsidiaries; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Permitted
Intercompany Investments.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Liens</U>&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
securing the Obligations;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
for taxes, assessments and governmental charges the payment of which is not required under <B><U>&lrm;</U></B><U>Section&nbsp;6.01(c)(iii)</U>;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
imposed by law, such as carriers&rsquo;, warehousemen&rsquo;s, mechanics&rsquo;, materialmen&rsquo;s and other similar Liens arising
in the ordinary course of business and securing obligations (other than Indebtedness for borrowed money) that are not overdue by more
than 30&nbsp;days or are being contested in good faith and by appropriate proceedings promptly initiated and diligently conducted, and
a reserve or other appropriate provision, if any, as shall be required by GAAP shall have been made therefor;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
consisting of Capitalized Leases and other Liens securing Indebtedness permitted pursuant to clause (b)&nbsp;of the definition of Permitted
Indebtedness; provided, in each case, that (i)&nbsp;such Liens attach concurrently with or within 90 days after the acquisition, construction,
repair, replacement or improvement (as applicable) of the property subject to such Liens and (ii)&nbsp;such Liens do not at any time
extend to or cover any assets (except for accessions to or proceeds of such assets) other than the assets subject to such Capitalized
Lease Obligations; <U>provided</U>, <U>further</U>, that individual financings of equipment provided by one lender may be cross-collateralized
to other financings of equipment provided by such lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;deposits
and pledges of cash securing (i)&nbsp;obligations incurred in respect of workers&rsquo; compensation, unemployment insurance and other
general liability insurance obligations, other social security laws and regulations or other forms of governmental insurance or benefits,
(ii)&nbsp;the performance of bids, tenders, leases, contracts (other than for the payment of money) and statutory obligations, (iii)&nbsp;obligations
on surety bonds, appeal bonds, performance bonds and other obligations of similar nature but only to the extent such deposits or pledges
are made or otherwise arise in the ordinary course of business and secure obligations not past due or (iv)&nbsp;the Permitted FNBO Credit
Card Indebtedness, provided however that the aggregate amount of cash deposited or pledged to secure the Permitted FNBO Credit Card Indebtedness
shall not exceed $220,000 at any time;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;with
respect to any Facility or other real property, easements, zoning restrictions and similar encumbrances on real property and minor irregularities
in the title thereto that (i)&nbsp;do not secure obligations for the payment of money and (ii)&nbsp;do not materially impair the value
of such property or its use by any Loan Party or any of its Subsidiaries in the normal conduct of such Person&rsquo;s business, in each
case, solely to the extent not adverse in any material respect to the interests of the Lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
of landlords and mortgagees of landlords (i)&nbsp;arising by statute or under any lease or related Contractual Obligation entered into
in the ordinary course of business, (ii)&nbsp;on fixtures and movable tangible property (and, if set forth by statute, other property)
located on the real property leased or subleased from such landlord, or (iii)&nbsp;for amounts not yet due or that are being contested
in good faith by appropriate proceedings diligently conducted and for which adequate reserves or other appropriate provisions are maintained
on the books of such Person in accordance with GAAP;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
title and interest of a licensor, lessor or sublessor in and to property licensed, leased or subleased (other than through a Capitalized
Lease), in each case extending only to such property;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;non-exclusive
licenses of Intellectual Property rights granted in the ordinary course of and not interfering with, the business of the Loan Parties
or any of their Subsidiaries, and solely to the extent not adverse in any material respect to the interests of the Lender;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;judgment
liens (other than for the payment of taxes, assessments or other governmental charges) securing judgments and other proceedings not constituting
an Event of Default under <B><U>&lrm;</U></B><U>Section&nbsp;7.01(j)</U>;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;rights
of set-off or bankers&rsquo; liens or other similar liens upon deposits of cash or Cash Equivalents in favor of banks, other depository
institutions or securities intermediaries, solely to the extent incurred in connection with the maintenance of such deposit accounts
or securities accounts and related cash management services in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
granted in the ordinary course of business on the unearned portion of insurance premiums securing the financing of insurance premiums
to the extent the financing is permitted under the definition of Permitted Indebtedness;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;purported
Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases of personal property entered
into in the ordinary course of business;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
consisting of customary restrictions in agreements for sale of assets pursuant to a Permitted Disposition during an interim period prior
to the closing of the sale of such assets pursuant to a Permitted Disposition; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Liens
securing any and all Indebtedness permitted pursuant to clause (k)&nbsp;of the definition of Permitted Indebtedness.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Restricted Payments</U>&rdquo; means any of the following Restricted Payments made by:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Subsidiary of the Borrower to the Borrower or any other Wholly Owned Subsidiary of the Borrower; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Borrower to pay dividends in the form of Qualified Equity Interests.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Permitted
Specified Liens</U>&rdquo; means Permitted Liens described in clauses (a), (b)&nbsp;and (c)&nbsp;of the definition of Permitted Liens,
and, solely in the case of &lrm;<U>Section&nbsp;6.01(b)(i)</U>, including clauses (f), (g)&nbsp;and (h)&nbsp;of the definition of Permitted
Liens.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Plan</U>&rdquo;
means any Employee Plan or Multiemployer Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Post-Default
Rate</U>&rdquo; means a rate of interest per annum equal to the rate of interest otherwise in effect from time to time pursuant to the
terms of this Agreement plus 3.0%, or, if a rate of interest is not otherwise in effect, interest at the highest rate specified herein
for any Loan then outstanding prior to an Event of Default plus 3.0%.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Prepayment
Event</U>&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Disposition or series of related Dispositions of any property or asset of any Loan Party or any Subsidiary generating Net Proceeds equal
to or greater than $250,000 in the aggregate for such Dispositions in any fiscal year; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any property
or asset of any Loan Party or any Subsidiary; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
incurrence by any Loan Party or any Subsidiary of any Indebtedness, other than Indebtedness permitted under <B><U>&lrm;</U></B><U>Section&nbsp;6.02(b)</U>;
or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
issuance of Equity Interests (other than (i)&nbsp;Equity Interests issued in connection with reasonable and customary director, officer
and employee compensation permitted pursuant to <B><U>&lrm;</U></B><U>Section&nbsp;6.02(i)(vi)</U>, or (ii)&nbsp;warrants, options or
other rights to purchase, subscribe for or otherwise acquire any Equity Interests).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Prepayment
Notice</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;2.06(b)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Projections</U>&rdquo;
has the meaning specified therefor in &lrm;<U>Section&nbsp;6.01(k)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Qualified
Equity Interests</U>&rdquo; means, with respect to any Person, all Equity Interests of such Person that are not Disqualified Equity Interests.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Registered
Intellectual Property</U>&rdquo; means Intellectual Property that is issued, registered, renewed or the subject of a pending application.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Reporting
Date&rdquo;</U> means the twenty-fifth (25th) day following the end of each calendar quarter.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Representatives</U>&rdquo;
means, with respect to any Person, such Person&rsquo;s directors, officers, members, partners, managers, employees, agents, investment
bankers, attorneys, accountants, advisors and other representatives.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Requirements
of Law</U>&rdquo; means, with respect to any Person, collectively, the common law and all federal, state, provincial, local, foreign,
multinational or international laws, statutes, codes, treaties, standards, rules&nbsp;and regulations, guidelines, ordinances, orders,
judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration
thereof by, and other determinations, directives, requirements or requests of, any Governmental Authority, in each case that are applicable
to or binding upon such Person or any of its property or to which such Person or any of its property is subject.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Restricted
Payment</U>&rdquo; means (a)&nbsp;the declaration or payment of any dividend or other distribution, direct or indirect, on account of
any Equity Interests of any Loan Party or any of its Subsidiaries, now or hereafter outstanding, (b)&nbsp;the making of any repurchase,
redemption, retirement, defeasance, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of
any Equity Interests of any Loan Party or any direct or indirect parent of any Loan Party, now or hereafter outstanding, (c)&nbsp;the
making of any payment to retire, or to obtain the surrender of, any outstanding warrants, options or other rights for the purchase or
acquisition of shares of any class of Equity Interests of any Loan Party, now or hereafter outstanding, (d)&nbsp;the return of any capital
contribution or equity investment to any shareholders or other equity holders of any Loan Party or any of its Subsidiaries, or make any
other distribution of property, assets, shares of Equity Interests, warrants, rights, options, obligations or securities thereto as such
or (e)&nbsp;the payment of any management, consulting, monitoring or advisory fees or any other fees or expenses (including the reimbursement
thereof by any Loan Party or any of its Subsidiaries) pursuant to any management, consulting, monitoring, advisory or other services
agreement to any of the shareholders or other equityholders of any Loan Party or any of its Subsidiaries or other Affiliates, or to any
other Subsidiaries or Affiliates of any Loan Party.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Sanctions</U>&rdquo;
means any economic or financial sanction administered or enforced by the United States Government (including the United States Department
of Treasury&rsquo;s Office of Foreign Assets Control and the United States Department of State) or other relevant sanctions authority.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>SEC</U>&rdquo;
means the U.S.&nbsp;Securities and Exchange Commission.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>SEC
Documents</U>&rdquo; means all reports, schedules, forms, proxy statements, statements and other documents required to be filed by the
Borrower with the SEC pursuant to the reporting requirements of the 1934 Act or the Securities Act, which have been filed by the Borrower
since January&nbsp;1, 2018 and all exhibits and appendices included therein and financial statements, notes and schedules thereto and
documents incorporated by reference therein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Senior
Officer</U>&rdquo; means, with respect to any Loan Party, the Chief Executive Officer, the Chief Financial Officer, the President, a
Vice President of Finance or any other officer performing equivalent duties.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Standard&nbsp;&amp;
Poor&rsquo;s</U>&rdquo; means S&amp;P Global Ratings, a business unit of Standard&nbsp;&amp; Poor&rsquo;s Financial Services LLC, a subsidiary
of S&amp;P Global Inc. and any successor to its rating agency business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Subordinated
Indebtedness</U>&rdquo; means Indebtedness of any Loan Party which has been (or which is required by this Agreement to be) subordinated
in right of payment to the prior payment in full of the Obligations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Subsidiary</U>&rdquo;
means, with respect to any Person at any date, any corporation, limited or general partnership, limited liability company, trust, estate,
association, joint venture or other business entity (a)&nbsp;the accounts of which would be consolidated with those of such Person in
such Person&rsquo;s consolidated financial statements if such financial statements were prepared in accordance with GAAP or (b)&nbsp;of
which more than 50% of (i)&nbsp;the outstanding Equity Interests having (in the absence of contingencies) ordinary voting power to elect
a majority of the board of directors (or comparable governing body) of such Person, (ii)&nbsp;in the case of a partnership or limited
liability company, the interest in the capital or profits of such partnership or limited liability company or (iii)&nbsp;in the case
of a trust, estate, association, joint venture or other entity, the beneficial interest in such trust, estate, association or other entity
business is, at the time of determination, owned or controlled directly or indirectly through one or more intermediaries, by such Person.
References to a Subsidiary shall mean a Subsidiary of the Borrower unless the context expressly provides otherwise.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Tax
Withholding Notice</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;2.07(a)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Taxes</U>&rdquo;
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees
or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Termination
Date</U>&rdquo; means the date on which all of the Obligations (other than Contingent Indemnity Obligations) are paid in full in cash
and the Commitment of the Lender is terminated.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Term
Loan</U>&rdquo; means, the Closing Date Term Loan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Trademark
License</U>&rdquo; means any written agreement, now or hereafter in effect, granting to or from any Loan Party any right under any Trademark
(including any such rights that such Loan Party has the right to license).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Trademarks</U>&rdquo;
means all of the following: (a)&nbsp;all trademarks, service marks, corporate names, company names, business names, fictitious business
names, trade names, trade styles, trade dress, logos, other source or business identifiers, designs and general intangibles of like nature,
now existing or hereafter adopted or acquired, all registrations thereof (if any), and all registration and recording applications filed
in connection therewith, including registrations and registration applications in the United States Patent and Trademark Office or any
similar offices in any State of the United States or any other country or any political subdivision thereof, and all renewals thereof,
including those listed on <U>Schedule <I>&lrm;</I>5.01(m)</U>, (b)&nbsp;all goodwill associated with or symbolized by the foregoing,
(c)&nbsp;all claims for, and rights to sue for, past or future infringements, dilutions or other violations of any of the foregoing,
(d)&nbsp;all income, royalties, damages and payments now or hereafter due and payable with respect to any of the foregoing, including
damages and payments for past or future infringement, dilutions or other violations thereof, and (e)&nbsp;all other rights accruing thereunder
or pertaining thereto throughout the world.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Transferee</U>&rdquo;
has the meaning specified therefor in <U>&lrm;Section&nbsp;2.07</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Uniform
Commercial Code</U>&rdquo; or &ldquo;<U>UCC</U>&rdquo; has the meaning specified therefor in &lrm;<U>Section&nbsp;1.03(b)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>USA
PATRIOT Act</U>&rdquo; means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (PATRIOT) Act of 2001 (Title III of Pub. L. 107-56, Oct.&nbsp;26, 2001) as amended by the USA Patriot Improvement and Reauthorization
Act of 2005 (Pub. L. 109-177, March&nbsp;9, 2006) and as the same may have been or may be further renewed, extended, amended, or replaced.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>U.S.&nbsp;Person</U>&rdquo;
means any Person that is a &ldquo;United States Person&rdquo; as defined in Section&nbsp;7701(a)(30) of the Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Wholly
Owned Subsidiary</U>&rdquo; means any Subsidiary of a Person all of the Equity Interests (other than in the case of a corporation, directors&rsquo;
qualifying shares or shares required to be held by a resident of the jurisdiction of organization) are controlled by such Person or one
or more other Subsidiaries of such Person or by such Person and one or more other Subsidiaries of such Person.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Terms
Generally</U>. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the
context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words &ldquo;include&rdquo;,
 &ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation&rdquo;. The
word &ldquo;will&rdquo; shall be construed to have the same meaning and effect as the word &ldquo;shall&rdquo;. Unless the context requires
otherwise, (a)&nbsp;any definition of or reference to any agreement, instrument or other document herein shall be construed as referring
to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions
on such amendments, supplements or modifications set forth herein), (b)&nbsp;any reference herein to any Person shall be construed to
include such Person&rsquo;s successors and assigns, (c)&nbsp;the words &ldquo;herein&rdquo;, &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo;,
and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(d)&nbsp;all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e)&nbsp;the words &ldquo;asset&rdquo; and &ldquo;property&rdquo; shall be construed
to have the same meaning and effect and to refer to any right or interest in or to assets and properties of any kind whatsoever, whether
real, personal or mixed and whether tangible or intangible.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.03.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Accounting
and Other Terms</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Unless
otherwise expressly provided herein, each accounting term used herein shall have the meaning given it under GAAP. Notwithstanding the
foregoing, (i)&nbsp;with respect to the accounting for leases as either operating leases or capital leases and the impact of such accounting
in accordance with FASB ASC 840 (or any other similar promulgation or methodology under GAAP with respect to the same subject matter
as FASB ASC 840) on the definitions and covenants herein, GAAP as in effect on the Effective Date shall be applied and (ii)&nbsp;for
purposes of determining compliance with any covenant contained herein,&nbsp;Indebtedness of the Borrower and its Subsidiaries shall be
deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial
liabilities shall be disregarded.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
terms used in this Agreement which are defined in Article&nbsp;8 or Article&nbsp;9 of the Uniform Commercial Code as in effect from time
to time in the State of New York (the &ldquo;<U>Uniform Commercial Code</U>&rdquo; or the &ldquo;<U>UCC</U>&rdquo;) and which are not
otherwise defined herein shall have the same meanings herein as set forth therein, provided that terms used herein which are defined
in the Uniform Commercial Code as in effect in the State of New York on the Effective Date shall continue to have the same meaning notwithstanding
any replacement or amendment of such statute.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.04.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Time
References</U>. Unless otherwise indicated herein, all references to time of day refer to Eastern Standard Time or Eastern daylight saving
time, as in effect in New York City on such day. For purposes of the computation of a period of time from a specified date to a later
specified date, the word &ldquo;from&rdquo; means &ldquo;from and including&rdquo; and the words &ldquo;to&rdquo; and &ldquo;until&rdquo;
each means &ldquo;to but excluding&rdquo;; <U>provided</U>, <U>however</U>, that with respect to a computation of interest payable to
the Lender, such period shall in any event consist of at least one full day.</FONT></P>

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

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

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Commitment</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Subject
to the terms and conditions set forth herein, the Lender agrees to make a Closing Date Term Loan to the Borrower, on the Effective Date,
in a principal amount not to exceed the Commitment. Amounts prepaid or repaid in respect of Closing Date Term Loan may not be reborrowed.
The Closing Date Term Loan made to the Borrower on the Effective Date shall result in an immediate and permanent reduction in the Commitment.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loan
and Borrowings</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Borrowing shall be made upon the Borrower&rsquo;s irrevocable notice to the Lender. The Borrowing shall be in the amount of the Commitment.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.03.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Advances</U>.
Upon satisfaction of the applicable conditions set forth in <B><I>&lrm;</I></B><U>Section&nbsp;4.02</U> (and, if such Borrowing is requested
on the Effective Date, <B><I>&lrm;</I></B><U>Section&nbsp;4.01</U>), the Lender shall make the requested funds available to the Borrower
by wire transfer of such funds in accordance with the disbursement instructions provided to (and reasonably acceptable to) the Lender
by the Borrower. The Lender may act without liability upon the basis of such borrowing request and disbursement instructions.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.04.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Repayment
of Loan; Evidence of Debt</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
outstanding principal amount of the Loan shall be due and payable on the Maturity Date or, if earlier, on the date on which such Loan
is declared due and payable pursuant to the terms of this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Obligations of the Borrower to the
Lender resulting from the Loan, including the amounts of principal and interest payable and paid to the Lender from time to time hereunder.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
entries made in the accounts maintained pursuant to the provisions above shall be <U>prima facie</U> evidence of the existence and amounts
of the obligations recorded therein (absent manifest error); <U>provided</U> that the failure of the Lender to maintain such accounts
or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loan in accordance with the terms of
this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Lender may request that the Loan made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver
to the Lender a promissory note payable to the order of the Lender (or, if requested by the Lender, to the Lender and its registered
assigns) in a form reasonably acceptable to the Lender (a &ldquo;<U>Note</U>&rdquo;). Thereafter, the Loan evidenced by such Note and
interest thereon shall at all times (including after assignment pursuant to&nbsp;<U>Section&nbsp;11.07</U>) be represented by one or
more Notes in such form payable to the order of the payee named therein (or, if such Note is a registered note, to such payee and its
registered assigns), in each case subject to the terms and conditions of this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.05.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Interest</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loan</U>.
Subject to the terms of this Agreement, the Loan shall bear interest on the principal amount thereof from time to time outstanding, from
the date of such Loan until such Loan is repaid, at a rate <I>per annum</I> equal to 14.00%. Interest on the Loan from the Effective
Date and until the Maturity Date shall accrue on a daily basis, be due and payable pursuant to subsection (c)&nbsp;below.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Default
Interest</U>. To the extent permitted by law and notwithstanding anything to the contrary in this Section, upon the occurrence and during
the continuance of an Event of Default, the principal of, and all accrued and unpaid interest on, the Loan, fees, indemnities or any
other Obligations of the Loan Parties under this Agreement and the other Loan Documents, shall bear interest, from the date such Event
of Default occurred until the date such Event of Default is cured or waived in writing by the Lender in accordance herewith, at a rate
per annum equal at all times to the Post-Default Rate (the &ldquo;<U>Default Interest</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Interest
Payment</U>. Interest on the Loan shall be due and payable, in arrears, on the Maturity Date (whether upon demand, by acceleration or
otherwise and including the Termination Date). Interest at the Post-Default Rate under <B><U>&lrm;</U></B><U>Section&nbsp;2.05<B>&lrm;</B>(b)</U>&nbsp;shall
be payable on demand. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and
before and after the commencement of any proceeding under any Debtor Relief Law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>General</U>.
All interest and fees shall be computed on the basis of a year of 360&nbsp;days for the actual number of days, including the first day
but excluding the last day, elapsed. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall
be due and payable upon demand. Interest shall accrue on the Loan for the day on which the Loan is made, and shall not accrue on a Loan,
or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day
on which it is made shall, subject to this Agreement, bear interest for one day.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.06.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reduction
of Commitment; Prepayment of Loan</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reduction
of Commitment</U>. The Commitment shall terminate on the Effective Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Optional
Prepayment</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loan</U>.
Upon prior written notice to the Lender, the Borrower may at any time or from time to time voluntarily prepay the Loan in whole or in
part without premium or penalty; provided that, unless otherwise agreed by the Lender (A)&nbsp;such notice (a &ldquo;<U>Prepayment Notice</U>&rdquo;)
must be received by the Lender not later than 11:00 a.m., New York City time 10 Business Days prior to any date of prepayment of the
Loan and (B)&nbsp;any prepayment of the Loan shall be in a principal amount of $500,000 or a whole multiple of $50,000 in excess thereof
or any remaining outstanding amount of the loan. Each such Prepayment Notice shall specify the date and amount of such prepayment of
the Loan. The Borrower shall make such prepayment and the payment amount specified in such Prepayment Notice shall be due and payable
on the date specified therein. Each prepayment made pursuant to this <B><U>&lrm;</U></B><U>Section&nbsp;2.06(b)(i)</U>&nbsp;shall be
accompanied by the payment of accrued interest to the date of such payment on the amount prepaid.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Termination
of Agreement</U>. The Borrower may, at any time, upon at least 10 Business Days prior written notice to the Lender (or such shorter period
of time as the Lender may agree to), terminate this Agreement by paying to the Lender the Obligations (other than Contingent Indemnity
Obligations), in full and the termination of the Commitment; <U>provided</U>, that such notice may provide that it is conditioned upon
the consummation of other financing or the consummation of a sale of Equity Interests, in which case, such notice may be revoked or extended
by the Borrower if any such condition is not satisfied prior to the date of termination of this Agreement set forth in such notice. If
the Borrower has sent a notice of termination pursuant to this <B><U>&lrm;</U></B><U>Section&nbsp;2.06<B>&lrm;</B>(b)<B>&lrm;</B>(ii),
</U>then the Borrower shall be obligated to repay the Obligations (other than Contingent Indemnity Obligations), in full, on the date
set forth therein as the date of termination of this Agreement, unless revoked or extended in accordance with the immediately preceding
proviso.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Mandatory
Prepayment</U>. In the event and on each occasion that any Net Proceeds are received by or on behalf of any Loan Party or any Subsidiary
in respect of any Prepayment Event, the Borrower shall, within ten (10)&nbsp;Business Days (and simultaneously with respect to clause
(c)&nbsp;and (d)&nbsp;of the definition of Prepayment Event) of receipt of such Net Proceeds by such Loan Party or Subsidiary, prepay
the Term Loan in an aggregate amount equal to 100% of such Net Proceeds, <U>provided</U> that, in the case of any event described in
clause&nbsp;(a)&nbsp;or (b)&nbsp;of the definition of the term &ldquo;Prepayment Event&rdquo;, if the Borrower shall deliver to the Lender
a certificate of a Financial Officer to the effect that the Loan Parties intend to reinvest the Net Proceeds from such event (or a portion
thereof specified in such certificate), within 270 days after receipt of such Net Proceeds, to acquire (or replace or rebuild) real property,
equipment or other tangible assets (excluding inventory) to be used in the business of the Loan Parties, and certifying that no Event
of Default has occurred and is continuing, then no prepayment shall be required pursuant to this paragraph in respect of the Net Proceeds
specified in such certificate; <U>provided</U>, <U>further</U>, that if at the end of such 270 day period the Net Proceeds have not been
so reinvested, the Borrower shall immediately prepay the Term Loan in an aggregate amount equal to 100% of such Net Proceeds not so reinvested.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Application
of Payments</U>. Each prepayment shall be applied to the outstanding principal amount of the Loan.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Interest</U>.
Any prepayment made pursuant to this <B>&lrm;</B><U>Section&nbsp;2.06</U> shall be accompanied by accrued interest on the principal amount
of the Loan being prepaid to the date of prepayment.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Cumulative
Prepayments</U>. Except as otherwise expressly provided in this <B><U>&lrm;</U></B><U>Section&nbsp;2.06</U>, payments with respect to
any subsection of this <B><U>&lrm;</U></B><U>Section&nbsp;2.06</U> are in addition to payments made or required to be made under any
other subsection of this <B><U>&lrm;</U></B><U>Section&nbsp;2.06</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.07.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Taxes</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
and all payments by or on account of any Loan Party hereunder or under any other Loan Document shall be made free and clear of and without
deduction for any and all Taxes, except as required by applicable Requirements of Law. If any Loan Party shall be required to deduct
any Taxes from or in respect of any sum payable hereunder to the Lender (or any transferee or assignee thereof, including a participation
holder (any such entity, a &ldquo;<U>Transferee</U>&rdquo;)), (i)&nbsp;at least 10 Business Days prior to the date such sum payable to
the Lender or Transferee, as applicable, is required to be paid hereunder, deliver to the Lender or such Transferee a written computation
of the Taxes required to be deducted and a reasonably detailed explanation therefor (the &ldquo;<U>Tax Withholding Notice</U>&rdquo;),
(ii)&nbsp;unless the Lender or Transferee objects in writing to such deduction within five Business Days of receipt of the Tax Withholding
Notice, such Loan Party shall make such deductions, (iii)&nbsp;such Loan Party shall pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable Requirements of Law and (iv)&nbsp;if such Tax is an Indemnified Tax, then the sum payable by
the applicable Loan Party shall be increased by the amount (an &ldquo;<U>Additional Amount</U>&rdquo;) necessary such that after making
all required deductions (including deductions applicable to additions sums payable under this <B>&lrm;</B><U>Section&nbsp;2.07</U>) the
Lender (or such Transferee) receives the amount equal to the sum it would have received had no such deductions been made.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
addition, each Loan Party agrees to pay to the relevant Governmental Authority in accordance with applicable Requirements of Law any
Other Taxes. Each Loan Party shall deliver to the Lender official receipts in respect of any Taxes or Other Taxes payable hereunder promptly
after payment of such Taxes or Other Taxes.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Loan Parties hereby jointly and severally indemnify and agree to hold the Lender harmless from and against Indemnified Taxes and Other
Taxes (including Indemnified Taxes and Other Taxes imposed on any amounts payable under this <B>&lrm;</B><U>Section&nbsp;2.07</U>) paid
by such Person, whether or not such Indemnified Taxes or Other Taxes were correctly or legally asserted. Such indemnification shall be
paid within 10 days from the date on which any such Person makes written demand therefore specifying in reasonable detail the nature
and amount of such Indemnified Taxes or Other Taxes.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Lender (or a Transferee) shall become aware that it is entitled to claim a refund from a Governmental Authority in respect of Taxes
or Other Taxes with respect to which any Loan Party has made an indemnity payment or paid additional amounts, pursuant to this <B><U>&lrm;</U></B><U>Section&nbsp;2.07</U>,
it shall promptly notify the Borrower of the availability of such refund claim and shall, within 30 days after receipt of a request by
the Borrower, make a claim to such Governmental Authority for such refund at the Loan Parties&rsquo; expense. If the Lender (or a Transferee)
receives a refund (including pursuant to a claim for refund made pursuant to the preceding sentence) in respect of any Taxes or Other
Taxes with respect to which any Loan Party has made an indemnity payment or paid additional amounts pursuant to this <B>&lrm;</B><U>Section&nbsp;2.07</U>,
it shall within 30 days from the date of such receipt pay over such refund to the Borrower, net of all out-of-pocket expenses of the
Lender (or Transferee).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
obligations of the Loan Parties under this <B><U>&lrm;</U></B><U>Section&nbsp;2.07</U> shall survive the termination of this Agreement
and the payment of the Loan and all other amounts payable hereunder.</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;3.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Payments;
Computations and Statements</U>. The Borrower will make each payment under this Agreement not later than 3:00&nbsp;p.m.&nbsp;on the day
when due, in immediately available funds, directly to the Lender to the Lender&rsquo;s Account. All payments received by the Lender after
3:00 p.m.&nbsp;on any Business Day will, unless otherwise agreed by the Lender, be credited on the next succeeding Business Day. All
payments shall be made by the Borrower without set-off, counterclaim, recoupment, deduction or other defense to the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;3.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Apportionment
of Payments</U>. Subject to <B><I>&lrm;</I></B><U>Section&nbsp;2.02</U> hereof:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;After
the occurrence and during the continuance of an Event of Default, all payments in respect of any Obligations, including all proceeds
of the Collateral, shall be applied, (i)&nbsp;<U>first</U>, ratably to pay the Obligations in respect of any fees, expense reimbursements,
indemnities and other amounts then due and payable to the Lender until paid in full; (ii)&nbsp;<U>second</U>, ratably to pay interest
then due and payable in respect of the Loan until paid in full; (iii)&nbsp;<U>third</U>, ratably to pay principal of the Loan until paid
in full; and (v)&nbsp;<U>fourth</U>, to the ratable payment of all other Obligations then due and payable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;For
purposes of <B><U>&lrm;</U></B><U>Section&nbsp;3.02(b)</U>, &ldquo;paid in full&rdquo; means payment in cash of all amounts owing under
the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including
interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements,
whether or not the same would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event of a direct conflict between the priority provisions of this <B><U>&lrm;</U></B><U>Section&nbsp;3.02</U> and other provisions
contained in any other Loan Document, it is the intention of the parties hereto that both such priority provisions in such documents
shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable
conflict that cannot be resolved as aforesaid, the terms and provisions of this <B>&lrm;</B><U>Section&nbsp;3.02</U> shall control and
govern.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>CONDITIONS
TO THE LOAN</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;4.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Conditions
Precedent to Effectiveness</U>. The effectiveness of this Agreement and the obligation of the Lender to make the Loan hereunder is subject
to satisfaction of the following conditions precedent in a manner satisfactory to the Lender:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Payment
of Fees, Etc.</U> The Borrower shall have paid&nbsp;on or before the Effective Date all documented fees, costs, expenses and taxes then
payable pursuant to <B>&lrm;</B><U>Section&nbsp;11.04</U>.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Delivery
of Documents</U>. The Lender shall have received on or before the Effective Date the following, each in form and substance reasonably
satisfactory to the Lender and, unless indicated otherwise, dated the Effective Date and, if applicable, duly executed by the Persons
party thereto:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[reserved];</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;evidence
satisfactory to the Lender of the filing of appropriate financing statements on Form&nbsp;UCC<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>1
in such office or offices as may be necessary to perfect the security interests purported to be created hereunder;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[reserved];</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[reserved];</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
certificate of a Senior Officer of each Loan Party, certifying (A)&nbsp;as to copies of the Governing Documents of such Loan Party, together
with all amendments thereto (including a true and complete copy of the charter, certificate of formation, certificate of limited partnership
or other publicly filed Governing Document of each Loan Party certified as of a recent date not more than 30 days prior to the Effective
Date by an appropriate official of the jurisdiction of organization of such Loan Party which shall set forth the same complete name of
such Loan Party as is set forth herein and the organizational number of such Loan Party, if an organizational number is issued in such
jurisdiction), (B)&nbsp;as to a copy of the resolutions or written consents of such Loan Party authorizing (1)&nbsp;the borrowings hereunder
and the transactions contemplated by the Loan Documents to which such Loan Party is or will be a party, and (2)&nbsp;the execution, delivery
and performance by such Loan Party of each Loan Document to which such Loan Party is or will be a party and the execution and delivery
of the other documents to be delivered by such Person in connection herewith and therewith, and (C)&nbsp;the names and true signatures
of the representatives of such Loan Party authorized to sign each Loan Document to which such Loan Party is or will be a party and the
other documents to be executed and delivered by such Loan Party in connection herewith and therewith, together with evidence of the incumbency
of such authorized officers;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(vi)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
certificate of the chief financial officer of the Borrower certifying as to the satisfaction of the conditions set forth in clauses (b)&nbsp;and
(c)&nbsp;of this <B>&lrm;</B><U>Section&nbsp;4.01</U> and <B><U>&lrm;</U></B><U>Section&nbsp;4.02</U>;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(vii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
certificate of the appropriate official(s)&nbsp;of the jurisdiction of organization of each Loan Party certifying as of a date not more
than 30 days prior to the Effective Date as to the subsistence in good standing of such Loan Party in such jurisdictions;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(viii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;an
opinion of Thompson Hine LLP, legal counsel to the Loan Parties, as to such customary matters as the Lender may reasonably request and
in form and substance reasonably satisfactory to the Lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ix)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[reserved];</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(x)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
initial Operating Budget covering the remainder of the Fiscal Year during which the Effective Date occurs (and, if requested by the Lender,
covering each calendar month in the succeeding Fiscal Year); and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(xi)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;such
other agreements, instruments, approvals, opinions and other documents, each reasonably satisfactory to the Lender in form and substance,
as the Lender may reasonably request.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Material
Adverse Effect</U>. No event or development shall have occurred since December&nbsp;31, 2023 which could reasonably be expected to have
a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;4.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Conditions
Precedent to the Loan</U>. The obligation of the Lender to make the Loan hereunder is subject to satisfaction of the following conditions
precedent in a manner satisfactory to the Lender:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Representations
and Warranties; No Default or Event of Default</U>. The following statements shall be true and correct: (i)&nbsp;the representations
and warranties contained in <U>Article&nbsp;<B>&lrm;</B>V</U> and in each other Loan Document are true and correct in all material respects
on and as of such date as though made on and as of such date, except to the extent that any such representation or warranty expressly
relates solely to an earlier date (in which case such representation or warranty shall be true and correct in all material respects on
and as of such earlier date and that any representation or warranty which is subject to any materiality qualifier shall be required to
be true and correct in all respects), (ii)&nbsp;no Default or Event of Default shall have occurred and be continuing or would result
from the Loan and (iii)&nbsp;the Borrower shall be in compliance with any Operating Budgets.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>REPRESENTATIONS
AND WARRANTIES</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;5.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Representations
and Warranties</U>. Except as set forth in the SEC Documents filed with the SEC prior to the Effective Date and publicly available on
the SEC&rsquo;s Electronic Data Gathering Analysis and Retrieval system (but excluding any forward-looking disclosures set forth in any
 &ldquo;risk factors&rdquo; section, any disclosures in any &ldquo;forward-looking statements&rdquo; sections and any other disclosures
included therein to the extent they are predictive or forward-looking in nature), each Loan Party hereby represents and warrants to the
Lender as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Organization,
Good Standing, Etc.</U> Each Loan Party (i)&nbsp;is a corporation, limited liability company or limited partnership, as applicable, duly
organized, validly existing and in good standing under the laws of the state or jurisdiction of its organization, (ii)&nbsp;has all requisite
power and authority to conduct its business as now conducted and as presently contemplated and, in the case of the Borrower, to make
the borrowings hereunder, and to execute and deliver each Loan Document to which it is a party, and to consummate the transactions contemplated
thereby, and (iii)&nbsp;is duly qualified to do business and is in good standing in each jurisdiction other than the state or jurisdiction
of its organization in which the character of the properties owned or leased by it or in which the transaction of its business makes
such qualification necessary, except (solely for the purposes of this subclause (iii)) where the failure to be so qualified and in good
standing could reasonably be expected to have a Material Adverse Effect. The Borrower and its Subsidiaries have obtained, and are in
compliance with, all licenses, permits, approvals and other authorizations necessary for the operation of their business.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Authorization,
Etc</U>. The execution, delivery and performance by each Loan Party of each Loan Document to which it is or will be a party, (i)&nbsp;have
been duly authorized by all necessary action, (ii)&nbsp;do not and will not contravene (A)&nbsp;any of its Governing Documents, (B)&nbsp;any
applicable Requirement of Law or (C)&nbsp;any Contractual Obligation binding on or otherwise affecting it or any of its properties, (iii)&nbsp;do
not and will not result in or require the creation of any Lien (other than pursuant to any Loan Document) upon or with respect to any
of its properties, except, in the case of clause (ii)(C), to the extent where such contravention, default, noncompliance, suspension,
revocation, impairment, forfeiture or nonrenewal could not reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Governmental
Approvals</U>. No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required
in connection with the due execution, delivery and performance by any Loan Party of any Loan Document to which it is or will be a party
other than (i)&nbsp;filings and recordings with respect to Collateral to be made, or otherwise delivered to the Lender for filing or
recordation, on the Effective Date and (ii)&nbsp;any authorization, approval, notice or filing or other action as has been previously
been obtained or taken and remains in full force and effect on the Effective Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Enforceability
of Loan Documents</U>. This Agreement is, and each other Loan Document to which any Loan Party is or will be a party, when delivered
hereunder, will be, a legal, valid and binding obligation of such Person, enforceable against such Person in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors&rsquo; rights generally and by general principles of equity.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Litigation</U>.
There is no pending or, to the knowledge of any Loan Party, threatened action, suit or proceeding affecting any Loan Party or any of
its properties before any court or other Governmental Authority or any arbitrator that (i)&nbsp;could reasonably be expected to have
a Material Adverse Effect or (ii)&nbsp;relates to this Agreement or any other Loan Document or any transaction contemplated hereby or
thereby.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compliance
with Law, Etc.</U> No Loan Party or any of its Subsidiaries is in violation of (i)&nbsp;any of its Governing Documents, (ii)&nbsp;any
Requirement of Law, (iii)&nbsp;any term of any Contractual Obligation (including any Material Contract) binding on or otherwise affecting
it or any of its properties or (iv)&nbsp;any Anti-Corruption Laws, except in the case of clauses (ii)&nbsp;and (iii), where the failure
to so comply could not reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Financial
Statements</U>. All financial statements relating to the Borrower, any Subsidiary or any Affiliate that have been delivered by the Borrower
to the Lender present fairly in all material respects the Borrower&rsquo;s consolidated financial condition as of the date thereof and
the Borrower&rsquo;s consolidated results of operations for the period then ended. Since December&nbsp;31, 2023, no event or development
has occurred that has had or could reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>ERISA</U>.
No Loan Party and no ERISA Affiliate maintains, or is required to make any payment or contribution to, or has at any time during the
past six (6)&nbsp;years maintained, or been required to make any payment or contribution to, any Employee Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Taxes,
Etc</U>. (i)&nbsp;All foreign, Federal and provincial, state and local tax returns and other reports required by applicable Requirements
of Law to be filed by any Loan Party have been filed, or extensions have been obtained (except for such returns in respect of taxes not
exceeding the amount set forth in clause (ii)&nbsp;below), and (ii)&nbsp;all taxes, assessments and other governmental charges imposed
upon any Loan Party or any property of any Loan Party which have become due and payable on or prior to the Effective Date have been paid,
except to the extent contested in good faith by proper proceedings which stay the imposition of any penalty, fine or Lien resulting from
the non-payment thereof and with respect to which adequate reserves have been set aside for the payment thereof on the Borrower&rsquo;s
financial statements in accordance with GAAP.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Insurance</U>.
<U>Schedule <B>&lrm;</B>5.01(j)</U>&nbsp;sets forth a list of all insurance maintained by each Loan Party on the Effective Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Use
of Proceeds</U>. The proceeds of the Loan shall be used in accordance with <B><U>&lrm;</U></B><U>Section&nbsp;6.01(i)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>[Reserved]</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Intellectual
Property</U>. Each Loan Party owns or licenses or otherwise has the right to use all Intellectual Property rights that are used for the
operation of its business, to the knowledge of each Loan Party, without infringement upon or conflict with the rights of any other Person
with respect thereto, except for such failures, infringements and conflicts which, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect. Set forth on <U>Schedule&nbsp;<B>&lrm;</B>5.01(m)</U>&nbsp;is a complete and accurate
list as of the Effective Date of (i)&nbsp;each item of Registered Intellectual Property owned by each Loan Party and (ii)&nbsp;each exclusive
Copyright License for United States Copyrights to which each Loan Party is bound (excluding any nonexclusive licenses granted in the
ordinary course of business). (i)&nbsp;No trademark or other advertising device, product, process, method, substance, part or other material
now employed, or now contemplated to be employed, by any Loan Party infringes upon or conflicts with any rights owned by any other Person,
and (ii)&nbsp;no claim or litigation regarding any of the foregoing is pending or threatened, except for, in each case of clauses (i)&nbsp;and
(ii)&nbsp;above, such infringements and conflicts which could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect. To the knowledge of each Loan Party, no patent, invention, device, application, principle or any statute, law,
rule, regulation, standard or code pertaining to Intellectual Property is pending or proposed, which, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Material
Contracts</U>. Set forth on <U>Schedule&nbsp;<B>&lrm;</B>5.01(n)</U>&nbsp;(as amended from time to time) is a complete and accurate list
of all Material Contracts of each Loan Party. Each such Material Contract (i)&nbsp;is in full force and effect and is binding upon and
enforceable against each Loan Party that is a party thereto and, to the knowledge of such Loan Party, all other parties thereto in accordance
with its terms, (ii)&nbsp;has not been otherwise amended or modified, except as otherwise permitted to be amended and modified in accordance
with this Agreement, and (iii)&nbsp;is not in material default due to the action of any Loan Party or, to the knowledge of any Loan Party,
any other party thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Regulatory
Compliance</U>. Neither the Borrower nor any Subsidiary is an &ldquo;investment company&rdquo; or a company controlled by an &ldquo;investment
company&rdquo; under the Investment Company Act of 1940. The Borrower is not engaged in the business of extending credit for the purpose
of purchasing or carrying margin stock (as defined in Regulation U of the Board) and no proceeds of the Loan will be used to purchase
or carry margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Sanctions,
Etc</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;None
of the Borrower, any of its Subsidiaries or officer, employee, or, to the knowledge of Borrower after due inquiry, any director, agent
or Affiliate of the Borrower or any of its Subsidiaries, is a Person that is, or is owned or controlled by Persons that are, (a)&nbsp;the
subject or target of any Sanctions or (b)&nbsp;located, organized or resident in a country or territory that is, or whose government
is, the subject of Sanctions, currently, Cuba,&nbsp;Iran, North Korea, Syria, the Crimea region of Ukraine, the Donetsk People&rsquo;s
Republic region of Ukraine, and the Luhansk People&rsquo;s Republic region of Ukraine. To the best of the Borrower&rsquo;s knowledge,
as of the Effective Date and at all times throughout the term of this Agreement, including after giving effect to any transfers of interests
permitted pursuant to the Loan Documents, none of the funds of the Borrower, any Subsidiary or of their Affiliates have been (or will
be) derived from any unlawful activity with the result that the investment in the respective party (whether directly or indirectly),
is prohibited by applicable Requirements of Law or the Loan is in violation of applicable Requirements of Law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Borrower will not, directly or indirectly, use the proceeds of the Loan, or lend, contribute or otherwise make available such proceeds
to any Subsidiary, joint venture partner or other Person, (i)&nbsp;to fund any activities or business of or with any Person, or in any
country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions, or (ii)&nbsp;in any other
manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loan, whether as lender,
underwriter, advisor, investor or otherwise). The Lender hereby notifies the Borrower that pursuant to the requirements of Anti-Terrorism
Laws, and the Lender&rsquo;s policies and practices, the Lender is required to obtain, verify and record certain information and documentation
that identifies the Borrower and its principals, which information includes the name and address of the Borrower and its principals and
such other information that will allow the Lender to identify such party in accordance with Anti-Terrorism Laws.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(q)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Full
Disclosure</U>. All reports, financial statements, certificates or other information furnished by or on behalf of any Loan Party to the
Lender (other than forward-looking information, projections and information of a general economic or industry nature, which forward-looking
statements, budgets and other information of a general economic or industry nature have been prepared by the Borrower in good faith based
upon assumptions believed by the Borrower to be reasonable at the time) in connection with this Agreement or delivered hereunder is true,
correct and complete in all material respects and does not contain any material misstatement of fact or omit to state any material fact
necessary to make the statements therein, in the light of the circumstances under which it was made, not misleading.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>COVENANTS
OF THE LOAN PARTIES</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;6.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Affirmative
Covenants</U>. Until the Termination Date, each Loan Party will:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reporting
Requirements</U>. Furnish to the Lender:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;promptly,
and in any event within three Business Days, upon any Senior Officer of the Borrower obtaining knowledge of the occurrence of an Event
of Default or Default or the occurrence of any event or development that has or could reasonably be expected to have a Material Adverse
Effect, the written statement of a Senior Officer of the Borrower setting forth the details of such Event of Default or Default or other
event or development and the action which the affected Loan Party proposes to take with respect thereto;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;promptly
upon request, and in any event within five Business Days, such other information, certification or evidence concerning the condition
or operations, financial or otherwise, of, or compliance with this Agreement and the other Loan Documents by, any Loan Party as the Lender
may from time to time may reasonably request.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Additional
Guarantors and Collateral Security</U>. Cause:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;each
Subsidiary (that is not an Excluded Subsidiary) of any Loan Party (a)&nbsp;not in existence on the Effective Date or (b)&nbsp;that ceases
to be an Excluded Subsidiary, to execute and deliver to the Lender promptly and in any event within 30&nbsp;days (or, in each case, such
longer date as the Lender may agree to) after the formation, acquisition or change in status thereof, (A)&nbsp;a joinder agreement, satisfactory
to the Lender, pursuant to which such Subsidiary shall be made a party to this Agreement as a Guarantor, (B)&nbsp;(1)&nbsp;certificates,
if any, evidencing all of the Equity Interests of any Person owned by such Subsidiary required to be pledged hereunder, (2)&nbsp;undated
stock powers for such Equity Interests executed in blank, (3)&nbsp;any intellectual property security agreements required hereunder (provided
that, to the extent any such Domestic Subsidiary owns any Copyright registered with the United States Copyright Office or is a party
to any exclusive Copyright License for United States Copyrights, such Domestic Subsidiary will execute and deliver to the Lender an intellectual
property security agreement for filing with the United States Copyright Office within 20 days), and (4)&nbsp;such opinions of counsel
as the Lender may reasonably request, (C)&nbsp;to the extent requested by the Lender, one or more Mortgages creating on the fee-owned
real property of such Subsidiary a perfected, first priority Lien (in terms of priority, subject only to Permitted Specified Liens) on
such real property and such other customary real property deliverables as may be reasonably required by the Lender with respect to each
such real property and (D)&nbsp;such other agreements, instruments, approvals or other documents reasonably requested by the Lender to
create, perfect, establish the first priority of or otherwise protect any Lien or Mortgage or otherwise to effect the intent that such
Subsidiary shall become bound by all of the terms, covenants and agreements contained in the Loan Documents and that substantially all
property and assets of such Subsidiary shall become Collateral for the Obligations; and</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;each
owner of the Equity Interests of any such Subsidiary to execute and deliver promptly and in any event within 30 days, or such longer
date as the Lender may agree to, after the formation or acquisition of such Subsidiary a Pledge Amendment, together with (A)&nbsp;certificates,
if any, evidencing all of the Equity Interests of such Subsidiary required to be pledged hereunder, (B)&nbsp;undated stock powers or
other appropriate instruments of assignment for such certificated Equity Interests executed in blank, (C)&nbsp;such opinions of counsel
as the Lender may reasonably request and (D)&nbsp;such other agreements, instruments, approvals or other documents reasonably requested
by the Lender</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;to
the extent requested by the Lender, each owner of any fee simple interest in any Facility to execute and deliver a Mortgage and real
property deliverables; it being understood that no such Facility shall be acquired during the term of this Agreement without the consent
of the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compliance
with Laws; Payment of Taxes</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Comply,
and cause each of its Subsidiaries to comply, with all Requirements of Law, judgments and awards (including any settlement of any claim
that, if breached, could give rise to any of the foregoing), except to the extent the failure to so comply could not reasonably be expected
to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Implement,
maintain in effect and enforce policies and procedures reasonably designed to ensure compliance in all material respects by any Loan
Party, any of its Subsidiaries and their respective directors, officers, employees and agents with applicable Anti-Corruption Laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Pay,
and cause each of its Subsidiaries to pay, in full before delinquency or before the expiration of any extension period, all taxes, assessments
and other related governmental charges imposed upon any Loan Party or any of its Subsidiaries or any property of any Loan Party or any
of its Subsidiaries, except to the extent contested in good faith by proper proceedings which stay the imposition of any penalty, fine
or Lien resulting from the non-payment thereof and with respect to which adequate reserves have been set aside for the payment thereof
in accordance with GAAP.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Preservation
of Existence, Etc.</U> Except as otherwise permitted under <B>&lrm;</B><U>Section&nbsp;6.02(c)</U>, (i)&nbsp;maintain and preserve, and
cause each of its Subsidiaries to maintain and preserve, its existence, rights and privileges and good standing under the laws of its
state or jurisdiction of organization, and (ii)&nbsp;become or remain, and cause each of its Subsidiaries to become or remain, duly qualified
and in good standing in each jurisdiction other than its state or jurisdiction of organization in which the character of the properties
owned or leased by it or in which the transaction of its business makes such qualification necessary, except, solely in the case of this
clause (ii), to the extent that the failure to be so qualified or in good standing could not reasonably be expected to have a Material
Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Maintenance
of Properties, Etc.</U> Maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, all of its material properties
(for the avoidance of doubt, including Intellectual Property) which are necessary or useful in the proper conduct of its business in
good working order and condition, ordinary wear and tear and casualty and condemnation excepted, and comply, and cause each of its Subsidiaries
to comply, at all times with the provisions of all leases to which it is a party as lessee or under which it occupies property, so as
to prevent any loss or forfeiture thereof or thereunder, except to the extent the failure to so maintain and preserve or so comply could
not reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Maintenance
of Insurance</U>. Maintain, and cause each of its Subsidiaries to maintain, insurance with reputable insurance companies or associations
(including commercial general liability, property, worker&rsquo;s compensation and business interruption insurance) with respect to its
properties (including all real properties leased or owned by it) and business, in such amounts, subject to such deductibles and self-insurance
retentions and covering such risks as is required by any Governmental Authority having jurisdiction with respect thereto or as is carried
generally in accordance with sound business practice by companies in similar businesses similarly situated. Each policy of comprehensive
general liability and general property insurance shall, if applicable, (i)&nbsp;name the Lender as an additional insured thereunder as
its interests may appear, and (ii)&nbsp;in the case of each property insurance policy, contain a loss payable clause or endorsement that
names the Lender as the loss payee thereunder and use commercially reasonable efforts to cause such endorsements to provide that the
insurer will provide at least 30 days&rsquo; (or in the case of non-payment, 10 days) prior written notice to the Lender of the exercise
of any right of cancellation. All certificates of insurance are to be delivered to the Lender and the policies are to be premium prepaid,
with the loss payable and additional insured endorsement in favor of the Lender and such other Persons as the Lender may designate from
time to time. If any Loan Party or any of its Subsidiaries fails to maintain such insurance, the Lender may arrange for such insurance,
but at the Borrower&rsquo;s expense and without any responsibility on the Lender&rsquo;s part for obtaining the insurance, the solvency
of the insurance companies, the adequacy of the coverage, or the collection of claims. Upon the occurrence and during the continuance
of an Event of Default, the Lender shall have the sole right, in the name of the Lender, any Loan Party and its Subsidiaries, to file
claims under any insurance policies, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to
execute any and all endorsements, receipts, releases, assignments, reassignments or other documents that may be necessary to effect the
collection, compromise or settlement of any claims under any such insurance policies.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Anti-Bribery
and Anti-Corruption Laws</U>. Maintain, and cause each of its Subsidiaries to maintain, anti-bribery and anti-corruption policies and
procedures that are reasonably designed to ensure compliance with the Anti-Corruption Laws applicable to such Person.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Further
Assurances</U>. Take such action and execute, acknowledge and deliver, and cause each of its Subsidiaries to take such action and execute,
acknowledge and deliver, at its sole cost and expense, such agreements, instruments or other documents as the Lender may reasonably require
from time to time in order (i)&nbsp;to carry out more effectively the purposes of this Agreement and the other Loan Documents, (ii)&nbsp;to
subject to valid and perfected first priority Liens any of the Collateral of any Loan Party (to the extent required by this Agreement
and the other Loan Documents), (iii)&nbsp;to establish and maintain the validity and effectiveness of any of the Loan Documents and the
validity, perfection and priority of the Liens intended to be created thereby and (iv)&nbsp;to better assure, convey, grant, assign,
transfer and confirm unto the Lender the rights now or hereafter intended to be granted to it under this Agreement or any other Loan
Document. In furtherance of the foregoing, to the maximum extent permitted by applicable Requirements of Law, each Loan Party (i)&nbsp;authorizes
the Lender at any time during the continuance of an Event of Default, to execute any such agreements, instruments or other documents
in such Loan Party&rsquo;s name and to file such agreements, instruments or other documents in any appropriate filing office, (ii)&nbsp;authorizes
the Lender to file any financing statement required hereunder or under any other Loan Document, and any continuation statement or amendment
with respect thereto, in any appropriate filing office without the signature of such Loan Party, and (iii)&nbsp;ratifies the filing of
any financing statement, and any continuation statement or amendment with respect thereto, filed without the signature of such Loan Party
prior to the Effective Date. Notwithstanding the foregoing, in no event will any Loan Party or any of its Subsidiaries be required to
take any action in contravention of any other term or agreement in this Agreement or any other Loan Document.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Use
of Proceeds</U>. The Borrower shall use the proceeds of the Borrowing to pay for Permitted Borrower Expenses in accordance with the Operating
Budget payable over the next four Fiscal Quarters.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Post-Closing
Requirements</U>. Not later than the dates set forth on <U>Schedule <B>&lrm;</B>6.01(j)</U>&nbsp;(or such later dates as the Lender shall
agree) or as otherwise required thereunder, the Loan Parties shall take the actions set forth on <U>Schedule <B>&lrm;</B>6.01(j)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Operating
Budget; Projections</U>. As soon as available, but in any event no later than 60 days after to the end of each Fiscal Year, the Borrower
shall deliver to the Lender (i)&nbsp;an Operating Budget for such Fiscal Year, prepared by the management of the Borrower (which shall
include all compensation (including salary, distributions and bonus) intended to be paid to any Loan Party), and which shall be subject
to the Lender&rsquo;s written approval in its reasonable discretion, and (ii)&nbsp;forecasts prepared by the management of the Borrower,
in form satisfactory to the Lender, of projected consolidated balance sheets, income statements, statements of cash flows, projected
changes in financial position, and a description of the underlying assumptions applicable thereto, and as soon as available, significant
revisions, if any, of such forecast with respect to such Fiscal Year (the &ldquo;<U>Projections&rdquo;</U>). The Operating Budget and
Projections shall in each case be accompanied by a certificate of the Controller (or another officer of the Borrower acceptable to the
Lender in its sole reasonable discretion), stating that such Operating Budget and Projections are based on reasonable estimates, information,
and assumptions and that such officer has no reason to believe that such Operating Budget and Projections are incorrect or misleading
in any material respect; provided that the Projections are not to be viewed as facts and that actual results during the period or periods
covered by such Projections may differ from such Projections. The initial Operating Budget is the form of initial Operating Budget previously
circulated to the Lender on or before March&nbsp;10, 2025.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Expenditures
Report</U>. On each Reporting Date, the Borrower shall deliver to the Lender a report summarizing actual expenditures both during the
prior calendar quarter and year to date. Such expenditures will be categorized and aggregated by line items set forth in the Operating
Budget for such Fiscal Year, and shall be delivered in a form that is satisfactory to the Lender. The Expenditures Report shall in each
case be accompanied by a certificate of an officer of the Borrower acceptable to the Lender in its sole reasonable discretion stating
that such officer has no reason to believe that such Expenditures Report is incorrect or misleading in any material respect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compliance
Certificates</U>. On each Reporting Date, the Borrower shall deliver to the Lender a compliance certificate from each Loan Party and
the Financial Officer certifying that (A)&nbsp;each Loan Party has observed and performed all of the covenants and other agreements,
and satisfied every condition contained in this Agreement and the other Loan Documents to which it is a party to be observed, performed
or satisfied by it, (B)&nbsp;such Person has not obtained any knowledge of any Default or Event of Default except as specified in such
certificate; (C)&nbsp;each of the representations and warranties made by the Loan Parties pursuant to the Loan Documents are true and
correct in all material respects (except for those representations and warranties that are conditioned by materiality, which shall be
true and accurate in all respects) on and as of such date as if made on and as of such date, except to the extent such representations
and warranties shall have been true and correct in all material respects, or true and correct in all respects, as the case may be, on,
and as of such earlier date, (D)&nbsp;the Borrower has adhered to the portion of the Operating Budget covering such Fiscal Quarter or
Fiscal Year (as the case may be), and has adequate liquidity for all foreseeable overhead, marketing and general expenses, and (E)&nbsp;a
narrative discussion and analysis of the financial condition and results of operations of the Borrower for the related Fiscal Quarter
or Fiscal Year (as the case may be), as compared to the portion of the Operating Budget and Projections covering such periods and to
the comparable periods of the previous year and (F)&nbsp;the Borrower has used the proceeds of each advance in strict compliance with
the terms of this Agreement (including, where applicable, Permitted Borrower Expenses in strict compliance with the Operating Budget).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Intellectual
Property</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Loan Parties will do or cause to be done all things necessary to preserve, renew, and keep in full force and effect all Intellectual
Property material to the conduct of the business of the Loan Parties. With respect to each item of its material Registered Intellectual
Property, the Loan Parties will take all commercially reasonable steps (including making payments of maintenance fees and taxes; filing
divisionals, continuations, continuations-in-part, reissues, and renewal applications or extensions; and participating in interference,
reexamination, opposition, cancellation, infringement and misappropriation proceedings) to (i)&nbsp;maintain the validity and enforceability
of any such Registered Intellectual Property and (ii)&nbsp;pursue the registration and maintenance of each such registration or application,
now or hereafter included in the Intellectual Property of the Loan Parties. The Loan Parties will not do or permit any act or knowingly
omit to do any act whereby any of their material Intellectual Property may lapse, be terminated, or become invalid or unenforceable or
placed in the public domain (or in case of a trade secret, lose its competitive value). In the event that any Loan Party has reason to
believe that any Intellectual Property material to the conduct of the business of such Loan Party and its Subsidiaries has been or is
likely to be infringed, misappropriated or diluted by a third party, such Loan Party shall, if consistent with its reasonable business
judgment, promptly sue for infringement, misappropriation or dilution and to recover any and all damages for such infringement, misappropriation
or dilution, and take such other actions as appropriate in such Loan Party's reasonable business judgment. No Loan Party shall make any
assignment or agreement in conflict with the security interest in the Intellectual Property of such Loan Party granted to Lender hereunder;
and</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event that any Loan Party develops or acquires an ownership or other interest in any Intellectual Property after the Effective Date
(&ldquo;<U>After Acquired Intellectual Property</U>&rdquo;), (i)&nbsp;the provisions of this Agreement shall automatically apply thereto,
and (ii)&nbsp;any such After-Acquired Intellectual Property shall automatically become part of the Collateral subject to the terms and
conditions of this Agreement. Such Loan Party shall (i)&nbsp;with respect to any United States registered Copyrights or exclusive Copyright
Licenses for United States Copyrights, within ten (10)&nbsp;days of such acquisition, provide the Lender with an updated <U>Schedule
<B><I>&lrm;</I></B>5.01(m)</U>, (ii)&nbsp;with respect to any United States Patents and Trademarks, within sixty (60) days of such acquisition,
provide the Lender with an updated <U>Schedule <B><I>&lrm;</I></B>5.01(m)</U>&nbsp;and (iii)&nbsp;promptly after providing such updates,
execute and deliver to the Lender an appropriate supplement to the applicable intellectual property security agreement to evidence the
Lender&rsquo;s security interest in any After-Acquired Intellectual Property consisting of Registered Intellectual Property. In each
case, such Loan Party will promptly cooperate as reasonably necessary to enable the Lender to make any necessary or advisable recordations
with the United States Patent and Trademark Office and the United States Copyright Office, as applicable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Delivery
of Instruments and Tangible Chattel Paper and Control of Investment Property, Letter-of-Credit Rights and Electronic Chattel Paper</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
any amount in excess of $250,000 payable under or in connection with any Collateral owned by such Guarantor shall be or become evidenced
by an instrument or tangible chattel paper other than such instrument delivered in accordance with <B><U>&lrm;</U></B><U>Section&nbsp;9.11(a)</U>&nbsp;and
in the possession of the Lender, such Guarantor, at the request of the Lender, shall promptly deliver such instrument or tangible chattel
paper to the Guarantor, duly indorsed in a manner satisfactory to the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Such
Guarantor shall not grant &quot;control&quot; (within the meaning of such term under Article&nbsp;9-106 of the UCC) over any investment
property to any Person other than the Lender.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
such Guarantor is or becomes the beneficiary of a letter of credit that is (i)&nbsp;not a supporting obligation of any Collateral and
(ii)&nbsp;in excess of $250,000, such Guarantor shall promptly, and in any event within fifteen (15) Business Days after becoming a beneficiary,
notify the Lender thereof and use commercially reasonable efforts to enter into a contractual obligation with the Lender, the issuer
of such letter of credit or any nominated person with respect to the letter-of-credit rights under such letter of credit. Such contractual
obligation shall assign such letter-of-credit rights to the Lender and such assignment shall be sufficient to grant control for the purposes
of Section&nbsp;9-107 of the UCC (or any similar section under any equivalent UCC). Such contractual obligation shall also direct all
payments thereunder to a deposit account subject to a Control Agreement. The provisions of the contractual obligation shall be in form
and substance reasonably satisfactory to the Lender.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
any amount in excess of $250,000 payable under or in connection with any Collateral owned by such Guarantor shall be or become evidenced
by electronic chattel paper, such Guarantor shall use commercially reasonable efforts to grant the Lender control of all such electronic
chattel paper for the purposes of Section&nbsp;9-105 of the UCC (or any similar section under any equivalent UCC) and all &quot;transferable
records&quot; as defined in each of the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce
Act.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;6.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Negative
Covenants</U>. Until the Termination Date, each Loan Party shall not and shall not permit any of its Subsidiaries to:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Liens,
Etc.</U> Create, incur, assume or suffer to exist any Lien upon or with respect to any of its properties, whether now owned or hereafter
acquired; sign or suffer to exist any security agreement authorizing any secured party thereunder to file such financing statement (or
the equivalent thereof) other than, as to all of the above, Permitted Liens.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Indebtedness</U>.
Create, incur, assume, guarantee or suffer to exist, or otherwise become or remain liable with respect to any Indebtedness other than
Permitted Indebtedness.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Fundamental
Changes; Dispositions</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Wind-up,
liquidate or dissolve, or merge, consolidate or amalgamate with any Person or agree to do any of the foregoing; <U>provided</U>, <U>however</U>,
that</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(A)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Wholly Owned Subsidiary of any Loan Party may be merged into any Loan Party or another Wholly Owned Subsidiary of a Loan Party, or may
consolidate or amalgamate with any Loan Party or another Wholly Owned Subsidiary of a Loan Party, so long as (1)&nbsp;if a Loan Party
is a party to such transaction, then a Loan Party shall be the surviving or continuing entity, (2)&nbsp;such Loan Party gives the Lender
at least 15 days (or such shorter period as the Lender may agree to) prior written notice of such merger, consolidation or amalgamation
accompanied by true, correct and complete copies of all material agreements, documents and instruments relating to such merger, consolidation
or amalgamation, including, but not limited to, the certificate or certificates of merger or amalgamation to be filed with each appropriate
Secretary of State (with a copy as filed promptly after such filing), (3)&nbsp;no Default or Event of Default shall have occurred and
be continuing either before or after giving effect to such transaction, and (4)&nbsp;the Lender&rsquo;s rights in any Collateral, including
the existence, perfection and priority of any Lien thereon, are not adversely affected by such merger, consolidation or amalgamation;</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(B)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Subsidiary of the Borrower that is not a Loan Party may dissolve or liquidate; provided that if in connection with any such dissolution
or liquidation, the dissolving entity transfers its assets to another Person and the transferor in such a transaction is a Loan Party,
then to the extent constituting an Investment, such Investment must be a Permitted Investment;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(C)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Subsidiary of the Borrower that is not a Loan Party may merge, amalgamate or consolidate with or dissolve or liquidate into any other
Person to effect a Permitted Investment;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(D)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;except
in the case of a Loan Party, a merger, dissolution, liquidation or consolidation, the purpose of which is to effect a Permitted Disposition
may be effected;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(E)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Loan Party (other than the Borrower) may merge, amalgamate or consolidate with or liquidate or dissolve into any other Person so long
as a Loan Party is the surviving Person;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(F)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Subsidiary of the Borrower that is not a Loan Party may merge, amalgamate or consolidate with or liquidate or dissolve into any other
Subsidiary of the Borrower that is not a Loan Party; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Make
any Disposition, whether in one transaction or a series of related transactions, of all or any part of its business, property or assets,
whether now owned or hereafter acquired (or agree to do any of the foregoing); <U>provided</U>, <U>however</U>, that any Loan Party and
its Subsidiaries may make Permitted Dispositions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Change
in Nature of Business</U>. Make any change in the nature of its business as and business activities from such business and business activities
conducted on the Effective Date and as reasonably related or incidental thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loans,
Advances,&nbsp;Investments, Etc.</U> Make (or commit or agree to make) any Investment in any other Person except for Permitted Investments.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Capital
Expenditures</U>. Except as provided for in the Operating Budget, make (or commit or agree to make) any capital expenditure (by purchase
or Capitalized Lease) that would cause the aggregate amount of all capital expenditures made by the Loan Parties and their Subsidiaries
in any Fiscal Year to exceed $3,000,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Restricted
Payments</U>. Make any Restricted Payment other than Permitted Restricted Payments.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Regulatory
Compliance</U>. Become an &ldquo;investment company&rdquo; or a company controlled by an &ldquo;investment company&rdquo; under the Investment
Company Act of 1940, or undertake as one of its important activities, extending credit to purchase or carry margin stock (as defined
in Regulation U of the Board), or use the proceeds of the Loan for that purpose.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Transactions
with Affiliates</U>. Enter into, renew, extend or be a party to any transaction or series of related transactions (including the purchase,
sale, lease, transfer or exchange of property or assets of any kind or the rendering of services of any kind) with any Affiliate, except
(i)&nbsp;transactions consummated in the ordinary course of business in a manner and to an extent necessary or desirable for the prudent
operation of its business, for fair consideration and on terms no less favorable to it or its Subsidiaries than would be obtainable in
a comparable arm&rsquo;s length transaction with a Person that is not an Affiliate thereof, and that are fully disclosed to the Lender
prior to the consummation thereof, (ii)&nbsp;transactions with another Loan Party, (iii)&nbsp;transactions permitted by <B><U>&lrm;</U></B><U>Section&nbsp;6.02(c),
<B>&lrm;</B>Section&nbsp;6.02(e)</U>, <B><U>&lrm;</U></B><U>Section&nbsp;6.02(g)</U>&nbsp;and <B><U>&lrm;</U></B><U>Section&nbsp;6.02(l)</U>,
(iv)&nbsp;transactions between or among Subsidiaries of the Borrower which are not Loan Parties, (v)&nbsp;sales of Qualified Equity Interests
of the Borrower to Affiliates of the Borrower not otherwise prohibited by the Loan Documents and the granting of customary rights in
connection therewith, and (vi)&nbsp;reasonable and customary director, officer and employee compensation (including bonuses and stock
option or other equity incentive programs), benefits and indemnification arrangements, in each case approved by the board of directors
or a comparable governing body (or a committee thereof) of such Loan Party or such Subsidiary to the extent required by applicable Requirements
of Law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Limitations
on Dividends and Other Payment Restrictions Affecting Subsidiaries</U>. Create or otherwise cause, incur, assume, suffer or permit to
exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i)&nbsp;to
pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of
its Subsidiaries, (ii)&nbsp;to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii)&nbsp;to
make loans or advances to any Loan Party or any of its Subsidiaries or (iv)&nbsp;to transfer any of its property or assets to any Loan
Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; <U>provided</U>, <U>however</U>, that
nothing in any of clauses (i)&nbsp;through (iv)&nbsp;of this <B><U>&lrm;</U></B><U>Section&nbsp;6.02(j)</U>&nbsp;shall prohibit or restrict
compliance with:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(A)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;this
Agreement and the other Loan Documents;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(B)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
applicable Requirements of Law, rule&nbsp;or regulation (including applicable currency control laws and applicable state corporate statutes
restricting the payment of dividends in certain circumstances);</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(C)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;in
the case of clause (iv), (1)&nbsp;customary restrictions on the subletting, assignment or transfer of any specified property or asset
set forth in a lease, license, asset sale agreement or similar contract for the conveyance of such property or asset and (2)&nbsp;instrument
or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer
of any property or assets subject thereto;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(D)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Permitted
Liens or customary restrictions on dispositions of real property interests in reciprocal easement agreements;</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(E)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;customary
restrictions in agreements for the sale of assets during an interim period prior to the closing of the sale of such assets; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(F)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;customary
restrictions in contracts that prohibit the assignment of such contract.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Limitations
on Negative Pledges</U>. Enter into, incur or permit to exist directly or indirectly, any agreement, instrument, deed, lease or other
arrangement that prohibits, restricts or imposes any condition upon the ability of any Loan Party or any Subsidiary of any Loan Party
to create, incur or permit to exist any Lien upon any of its property or revenues, whether now owned or hereafter acquired, or that requires
the grant of any security for an obligation if security is granted for another obligation, except the following: (i)&nbsp;this Agreement
and the other Loan Documents, (ii)&nbsp;restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted
by <B><U>&lrm;</U></B><U>Section&nbsp;6.02(b)</U>&nbsp;of this Agreement if such restrictions or conditions apply only to the property
or assets securing such Indebtedness, (iii)&nbsp;any customary restrictions and conditions contained in agreements relating to the sale
or other disposition of assets or of a Subsidiary pending such sale or other disposition; <U>provided</U> that such restrictions and
conditions apply only to the assets or Subsidiary to be sold or disposed of and such sale or disposition is permitted hereunder, (iv)&nbsp;customary
restrictions in leases, subleases, licenses or asset sale agreements otherwise permitted hereby so long as such restrictions relate to
the assets subject thereto, and (v)&nbsp;customary provisions regarding confidentiality or restricting assignment, pledges or transfer
of any agreement entered into in the ordinary course of business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Modifications
of Indebtedness, Organizational Documents and Certain Other Agreements; Etc</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Amend,
modify or otherwise change (or permit the amendment, modification or other change in any manner of) any of the provisions of any of its
or its Subsidiaries&rsquo; Indebtedness for borrowed money or of any instrument or agreement (including any purchase agreement, indenture,
loan agreement or security agreement) evidencing or governing any such Indebtedness if such amendment, modification or change would shorten
the final maturity or average life to maturity of, or require any payment to be made earlier than the date originally scheduled on, such
Indebtedness, would increase the interest rate applicable to such Indebtedness, would change the subordination provisions, if any, of
such Indebtedness, or would otherwise be adverse in any material respect to the interests of the Lender or the issuer of such Indebtedness;
<U>provided</U>, that notwithstanding the foregoing, any refinancing in respect of such Indebtedness shall be permitted so long as the
principal amount thereof is not increased and the terms thereof are not modified to impose more burdensome terms upon the Borrower;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(A)&nbsp;make
any voluntary or optional payment (including any payment of interest in cash), prepayment, redemption, defeasance, sinking fund payment
or other acquisition for value of any of its or its Subsidiaries&rsquo; Indebtedness (including by way of depositing money or securities
with the trustee therefor before the date required for the purpose of paying any portion of such Indebtedness when due), (B)&nbsp;refund,
refinance, replace or exchange any other Indebtedness for any such Indebtedness (other than with respect to Indebtedness refinanced in
accordance with the proviso of <B>&lrm;</B><U>Section&nbsp;6.02(l)(i)</U>), (C)&nbsp;make any payment, prepayment, redemption, defeasance,
sinking fund payment or repurchase of any Subordinated Indebtedness in violation of the subordination provisions thereof or any subordination
agreement with respect thereto, or (D)&nbsp;make any payment, prepayment, redemption, defeasance, sinking fund payment or repurchase
of any Indebtedness as a result of any asset sale, change of control, issuance and sale of debt or equity securities or similar event,
or give any notice with respect to any of the foregoing; <U>provided</U>, that this clause (ii)&nbsp;shall not apply to (1)&nbsp;the
Obligations and (2)&nbsp;Permitted Intercompany Investments;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;amend,
modify or otherwise change any of its Governing Documents (including by the filing or modification of any certificate of designation,
or any agreement or arrangement entered into by it) with respect to any of its Equity Interests (including any shareholders&rsquo; agreement),
or enter into any new agreement with respect to any of its Equity Interests, except any such amendments, modifications or changes or
any such new agreements or arrangements pursuant to this clause&nbsp;(iii)&nbsp;that either individually or in the aggregate could be
adverse in any material respect to the interests of the Lender; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;agree
to any amendment, modification or other change to or waiver of any of its rights under any Material Contract if such amendment, modification,
change or waiver would, at the time of such amendment, modification or other change, be (A)&nbsp;adverse in any material respect to the
interests of the Lender or (B)&nbsp;reasonably expected to have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>ERISA</U>.
Maintain or become required to make any payment or contribution to any Plan or permit any ERISA Affiliate to take any of the foregoing
actions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Environmental</U>.
Permit the use, handling, generation, storage, treatment, release or disposal of Hazardous Materials at any property owned or leased
by it or any of its Subsidiaries, except to the extent such actions could not reasonably be expected to have a Material Adverse Effect.</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;7.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Events
of Default</U>. Each of the following events shall constitute an event of default (each, an &ldquo;<U>Event of Default</U>&rdquo;):</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Borrower shall fail to pay, when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), (i)&nbsp;any
interest on the Loan or any fee, indemnity or other amount payable under this Agreement (other than any portion thereof constituting
principal of the Loan) or any other Loan Document, and such failure continues for a period of three Business Days or (ii)&nbsp;all or
any portion of the principal of the Loan;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
representation or warranty made or deemed made by or on behalf of any Loan Party or by any officer of the foregoing under or in connection
with any Loan Document or under or in connection with any certificate or other writing delivered to the Lender pursuant to any Loan Document
shall have been incorrect in any material respect (or in any respect if such representation or warranty is qualified or modified as to
materiality or &ldquo;Material Adverse Effect&rdquo; in the text thereof) when made or deemed made;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Loan Party shall fail to perform or comply with (i)&nbsp;any covenant or agreement contained in <B><U>&lrm;</U></B><U>Section&nbsp;6.01(a)</U>&nbsp;and
such failure shall remain unremedied for 10 days or (ii)&nbsp;any covenant or agreement contained in <B><U>&lrm;</U></B><U>Section&nbsp;6.01(c)</U>,
<B><U>&lrm;</U></B><U>Section&nbsp;6.01(d</U>), <B><U>&lrm;</U></B><U>Section&nbsp;6.01(i)</U>, <B><U>&lrm;</U></B><U>Section&nbsp;6.01(j)</U>&nbsp;or
<B><U>&lrm;</U></B><U>Section&nbsp;6.02</U>;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Loan Party shall fail to perform or comply with any other term, covenant or agreement contained in any Loan Document to be performed
or observed by it and, except as set forth in subsections (a), (b)&nbsp;and (c)&nbsp;of this <B><U>&lrm;</U></B><U>Section&nbsp;7.01</U>,
such failure, if capable of being remedied, shall remain unremedied for 30 days after the earlier of the date a Senior Officer of any
Loan Party has knowledge of such failure and the date written notice of such default shall have been given by the Lender to such Loan
Party;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Borrower or any of its Subsidiaries shall fail to pay when due (whether by scheduled maturity, required prepayment, acceleration, demand
or otherwise) any principal, interest or other amount payable in respect of Indebtedness (excluding Indebtedness evidenced by this Agreement)
having an aggregate principal amount outstanding in excess of $500,000, and such failure shall continue after the applicable grace period,
if any, specified in the agreement or instrument relating to such Indebtedness, or any other default under any agreement or instrument
relating to any such Indebtedness, or any other event, shall occur and shall continue after the applicable grace or cure period, if any,
specified in such agreement or instrument, if the effect of such default or event is to accelerate, or to permit the acceleration of,
the maturity of such Indebtedness; or any such Indebtedness shall be declared to be due and payable, or required to be prepaid (other
than by a regularly scheduled required prepayment), redeemed, purchased or defeased or an offer to prepay, redeem, purchase or defease
such Indebtedness shall be required to be made, in each case, prior to the stated maturity thereof;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
of the Borrower or any of its Subsidiaries, shall (i)&nbsp;institute any proceeding or voluntary case seeking to adjudicate it a bankrupt
or insolvent, or seeking dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition
of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking the entry of an
order for relief or the appointment of a receiver, trustee, custodian or other similar official for any such Person or for any substantial
part of its property, (ii)&nbsp;be generally not paying its debts as such debts become due or shall admit in writing its inability to
pay its debts generally, (iii)&nbsp;make a general assignment for the benefit of creditors, or (iv)&nbsp;be the subject of any action
of the board of directors (or comparable governing body) of such Person to authorize or effect any of the actions set forth above in
this subsection (f);</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
proceeding shall be instituted against the Borrower or any of its Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking
dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief of debtors, or seeking the entry of
an order for relief or the appointment of a receiver, trustee, custodian or other similar official for any such Person or for any substantial
part of its property, and either such proceeding shall remain undismissed or unstayed for a period of 60 days or any of the actions sought
in such proceeding (including the entry of an order for relief against any such Person or the appointment of a receiver, trustee, custodian
or other similar official for it or for any substantial part of its property) shall occur;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
material provision of any Loan Document shall at any time for any reason (other than pursuant to the express terms thereof) cease to
be valid and binding on or enforceable against any Loan Party intended to be a party thereto, or the validity or enforceability thereof
shall be contested by any party thereto, or a proceeding shall be commenced by any Loan Party or any Governmental Authority having jurisdiction
over any of them, seeking to establish the invalidity or unenforceability thereof, or any Loan Party shall deny in writing that it has
any liability or obligation purported to be created under any Loan Document;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Lender shall not have or shall cease to have a valid and perfected and, except to the extent permitted by the terms hereof or thereof,
first priority Lien (subject to Permitted Liens or Permitted Specified Liens, as applicable) in favor of the Lender on any material portion
of the Collateral;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;one
or more judgments, orders or awards (or any settlement of any litigation or other proceeding that, if breached, could result in a judgment,
order or award) for the payment of money exceeding $500,000 in the aggregate shall be rendered against the Borrower or any of its Subsidiaries
and remain unsatisfied and (i)&nbsp;enforcement proceedings shall have been commenced by any creditor upon any such judgment, order,
award or settlement or (ii)&nbsp;there shall be a period of 30 consecutive days after entry thereof during which (A)&nbsp;a stay of enforcement
thereof is not in effect or (B)&nbsp;the same is not vacated, discharged, stayed or bonded pending appeal;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Borrower or any of its Subsidiaries is enjoined, restrained or in any way prevented by the order of any court or any Governmental Authority
from conducting, or otherwise ceases to conduct for any reason whatsoever, all or substantially all of its business for more than 30
consecutive days;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
loss, suspension or revocation of, or failure to renew, any license or permit now held or hereafter acquired by the Borrower or any of
its Subsidiaries, if such loss, suspension, revocation or failure to renew could reasonably be expected to have a Material Adverse Effect;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Lender, in its sole reasonable discretion, determines that a material deviation from the Operating Budget has occurred; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
Material Adverse Effect shall have occurred with respect to the Collateral or any Loan Party;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">then, and in any
such event, the Lender may, by notice to the Borrower, (i)&nbsp;declare all or any portion of the Loan then outstanding to be accelerated
and due and payable, whereupon all or such portion of the aggregate principal of all Loan, all accrued and unpaid interest thereon, all
fees and all other amounts payable under this Agreement and the other Loan Documents shall become due and payable immediately, without
presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by each Loan Party and (ii)&nbsp;exercise
any and all of its other rights and remedies under applicable Requirements of Law, hereunder and under the other Loan Documents; <U>provided</U>,
<U>however</U>, that upon the occurrence of any Event of Default described in subsection (f)&nbsp;or (g)&nbsp;of this &lrm;<U>Section&nbsp;7.01
</U>with respect to the Borrower or any of its Subsidiaries, without any notice to any Loan Party or any other Person or any act by the
Lender, the Loan then outstanding, together with all accrued and unpaid interest thereon, all fees and all other amounts due under this
Agreement and the other Loan Documents shall be accelerated and become due and payable automatically and immediately, without presentment,
demand, protest or notice of any kind, all of which are expressly waived by each Loan Party.</FONT></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;8.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Guaranty</U>.
Each Guarantor hereby jointly and severally and unconditionally and irrevocably guarantees the punctual payment when due, whether at
stated maturity, by acceleration or otherwise, of all Obligations of the Borrower now or hereafter existing under any Loan Document,
whether for principal, interest (including all interest that accrues after the commencement of any Insolvency Proceeding of the Borrower,
whether or not a claim for post-filing interest is allowed in such Insolvency Proceeding), fees, commissions, expense reimbursements,
indemnifications or otherwise (such obligations, to the extent not paid by the Borrower, being the &ldquo;<U>Guaranteed Obligations</U>&rdquo;),
and agrees to pay any and all expenses (including reasonable counsel fees and expenses) incurred by the Lender in enforcing any rights
under the guaranty set forth in this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U>, subject to <B><I>&lrm;</I></B><U>Section&nbsp;11.04</U>.
Without limiting the generality of the foregoing, each Guarantor&rsquo;s liability shall extend to all amounts that constitute part of
the Guaranteed Obligations and would be owed by the Borrower to the Lender under any Loan Document but for the fact that they are unenforceable
or not allowable due to the existence of an Insolvency Proceeding involving the Borrower. In no event shall the obligation of any Guarantor
hereunder exceed the maximum amount such Guarantor could guarantee under any Debtor Relief Law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;8.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Guaranty
Absolute</U>. Each Guarantor jointly and severally guarantees that the Guaranteed Obligations will be paid strictly in accordance with
the terms of the Loan Documents, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting
any of such terms or the rights of the Lender with respect thereto. Each Guarantor agrees that this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII
</U>constitutes a guaranty of payment when due and not of collection and waives any right to require that any resort be made by the Lender
to any Collateral. The obligations of each Guarantor under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> are independent of the Guaranteed
Obligations, and a separate action or actions may be brought and prosecuted against each Guarantor to enforce such obligations, irrespective
of whether any action is brought against any Loan Party or whether any Loan Party is joined in any such action or actions. The liability
of each Guarantor under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> shall be, until the Termination Date, irrevocable, absolute
and unconditional irrespective of, and each Guarantor hereby irrevocably waives any defenses it may now or hereafter have in any way
relating to, any or all of the following:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
lack of validity or enforceability of any Loan Document or any agreement or instrument relating thereto;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations, or any other amendment
or waiver of or any consent to departure from any Loan Document, including any increase in the Guaranteed Obligations resulting from
the extension of additional credit to any Loan Party or otherwise;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
taking, exchange, release or non-perfection of any Collateral, or any taking, release or amendment or waiver of or consent to departure
from any other guaranty, for all or any of the Guaranteed Obligations;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
existence of any claim, set-off, defense or other right that any Guarantor may have at any time against any Person, including the Lender;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
change, restructuring or termination of the corporate, limited liability company or partnership structure or existence of any Loan Party;
or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
other circumstance (including any statute of limitations) or any existence of or reliance on any representation by the Lender that might
otherwise constitute a defense available to, or a discharge of, any Loan Party or any other guarantor or surety (other than the cash
payment in full of the Obligations (other than Contingent Indemnity Obligations)).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This
<U>Article&nbsp;&lrm;VIII</U> shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any
of the Guaranteed Obligations is rescinded or must otherwise be returned by The Lender or any other Person upon the insolvency, bankruptcy
or reorganization of the Borrower or otherwise, all as though such payment had not been made.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;8.03.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Waiver</U>.
Each Guarantor hereby waives (i)&nbsp;promptness and diligence, (ii)&nbsp;notice of acceptance and any other notice with respect to any
of the Guaranteed Obligations and this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> and any requirement that the Lender exhaust any right
or take any action against any Loan Party or any other Person or any Collateral, (iii)&nbsp;any right to compel or direct the Lender
to seek payment or recovery of any amounts owed under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> from any one particular fund or
source or to exhaust any right or take any action against any other Loan Party, any other Person or any Collateral, (iv)&nbsp;any requirement
that the Lender protect, secure, perfect or insure any security interest or Lien on any property subject thereto or exhaust any right
to take any action against any Loan Party, any other Person or any Collateral, (v)&nbsp;the existence of any claim, setoff or other rights
which the Guarantor may have at any time against the Lender or the Borrower, and (vi)&nbsp;any other defense available to any Guarantor.
Each Guarantor agrees that the Lender shall have no obligation to marshal any assets in favor of any Guarantor or against, or in payment
of, any or all of the Obligations. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated herein and that the waiver set forth in this <B><I>&lrm;</I></B><U>Section&nbsp;8.03</U> is knowingly made in contemplation
of such benefits. Each Guarantor hereby waives any right to revoke this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U>, and acknowledges
that this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> is continuing in nature and applies to all Guaranteed Obligations, whether existing
now or in the future.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;8.04.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Continuing
Guaranty; Assignments</U>. This <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> is a continuing guaranty and shall (a)&nbsp;remain in full
force and effect until the later of the cash payment in full of the Guaranteed Obligations (other than Contingent Indemnity Obligations)
and all other amounts payable under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> and the Termination Date, (b)&nbsp;be binding upon
each Guarantor, its successors and assigns and (c)&nbsp;inure to the benefit of and be enforceable by the Lender and their successors,
pledgees, transferees and assigns.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;8.05.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Subrogation</U>.
No Guarantor will exercise any rights that it may now or hereafter acquire against any Loan Party or any other guarantor that arise from
the existence, payment, performance or enforcement of such Guarantor&rsquo;s obligations under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U>,
including any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim
or remedy of the Lender against any Loan Party or any other guarantor or any Collateral, whether or not such claim, remedy or right arises
in equity or under contract, statute or common law, including the right to take or receive from any Loan Party or any other guarantor,
directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security solely on account of such
claim, remedy or right, unless and until the Termination Date occurs. If any amount shall be paid to any Guarantor in violation of the
immediately preceding sentence at any time prior to the Termination Date, such amount shall be held in trust for the benefit of the Lender
and shall forthwith be paid to the Lender to be credited and applied to the Guaranteed Obligations and all other amounts payable under
this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U>, whether matured or unmatured, in accordance with the terms of this Agreement, or to
be held as Collateral for any Guaranteed Obligations or other amounts payable under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U>
thereafter arising. If (i)&nbsp;any Guarantor shall make payment to the Lender of all or any part of the Guaranteed Obligations, (ii)&nbsp;all
of the Guaranteed Obligations and all other amounts payable under this <U>Article&nbsp;<B><I>&lrm;</I></B>VIII</U> shall be paid in full
in cash and (iii)&nbsp;the Termination Date shall have occurred, the Lender will, at such Guarantor&rsquo;s request and expense, execute
and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the
transfer by subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment by such Guarantor.</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Grant
of Security Interest</U>. In order to secure the full and punctual observance and performance when due of the obligations of each Loan
Party under the Agreement, including, but not limited to, payments of principal and interest and all other Obligations, each Loan Party
hereby grants to the Lender a security interest in and continuing lien on all of such Loan Party&rsquo;s right, title and interest in,
to and under the Collateral wheresoever located.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Continuing
Security Interest</U>. This Agreement (a)&nbsp;creates a continuing security interest in the Collateral and shall remain in full force
and effect until the payment in full of all Obligations, (b)&nbsp;is binding upon each Loan Party, its successors and assigns, and (c)&nbsp;inures,
together with the rights and remedies of the Lender hereunder, to the benefit of the Lender and each of its permitted successors, transferees
and assigns.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.03.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loan
Parties Remain Liable</U>. Notwithstanding anything herein to the contrary:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;each
Loan Party shall remain liable for all its obligations under the Collateral and nothing contained herein is intended or shall be a delegation
of duties to the Lender;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;each
Loan Party shall remain liable under each of the agreements included in the Collateral to perform all of the obligations undertaken by
it thereunder all in accordance with and pursuant to the terms and provisions thereof, and the Lender shall have no obligation or liability
under any of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the Lender
have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take
any action to collect or enforce any rights under any agreement included in the Collateral; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
exercise by the Lender of any of its rights hereunder shall not release the Loan Parties from any of their duties or obligations under
any contract or agreement that is included in the Collateral.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.04.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Authorization
to File UCC Statements</U>. Each Loan Party hereby authorizes the Lender to file a financing statement in the appropriate filing offices
naming such Loan Party as &ldquo;debtor&rdquo; and the Lender as &ldquo;secured party&rdquo; and describing the Collateral in the appropriate
filing offices, which financing statements may describe the Collateral in the same manner as described herein or may contain an indication
or description of collateral that describes such property in any other manner as the Lender may determine, in its sole discretion, is
necessary, advisable or prudent to ensure the perfection of the security interest in the Collateral granted to the Lender herein, including
describing such property as &ldquo;all assets&rdquo; or &ldquo;all personal property, whether now owned or hereafter acquired&rdquo;
and, in addition, specifically identifying any commercial tort claim. Each Loan Party hereby further authorizes the Lender to file and
record any intellectual property security agreement covering Collateral consisting of Registered Intellectual Property with the United
States Patent and Trademark Office and the United States Copyright Office, as applicable, and such other documents as may be necessary
or reasonably advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Lender&rsquo;s security interest
in such Collateral.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.05.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Account
Control Agreements</U>. Each Loan Party will enter into a Control Agreement with respect to each deposit, securities or commodities account
maintained by such Loan Party (i)&nbsp;in the case of any such account in existence on the Effective Date, within 90 days (or such longer
period as the Lender may reasonably agree) after the Effective Date, or (ii)&nbsp;in the case of any such account opened after the Effective
Date, within 90 days (or such longer period as the Lender may reasonably agree) after the date that such Loan Party opens such account</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.06.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Loan
Party Information and Status</U>. Without limiting any prohibitions or restrictions on mergers or other transactions set forth in this
Agreement, each Loan Party shall not change its name, identity, corporate structure (e.g. by merger, consolidation, change in corporate
form or otherwise), sole place of business, chief executive office, type of organization or jurisdiction of organization or establish
any trade names unless it has (a)&nbsp;notified the Lender in writing at least thirty (30) days (or such shorter period as the Lender
may agree) prior to any such change or establishment, identifying such new proposed name, identity, corporate structure, sole place of
business, chief executive office, jurisdiction of organization or trade name and providing such other information in connection therewith
as the Lender may reasonably request, and (b)&nbsp;taken all actions necessary or advisable to maintain the continuous validity, perfection
and the same priority of the Lender&rsquo;s security interest in the Collateral granted or intended to be granted and agreed to hereby.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.07.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Maintenance
of Security Interest</U>. Each Loan Party shall maintain the security interest of the Lender hereunder in all Collateral as a valid,
perfected, first priority Lien, subject only to Permitted Liens. In furtherance of the foregoing, each Loan Party shall furnish to the
Lender the Perfection Certificate as provided in <U>Schedule <B><I>&lrm;</I></B>6.01(j),</U> and (i)&nbsp;upon the Lender&rsquo;s reasonable
request, but no more than once quarterly, statements and schedules further identifying and describing the Collateral and (ii)&nbsp;from
time to time, such other documents in connection with the Collateral as contemplated by <B><I>&lrm;</I></B><U>Section&nbsp;6.01(h)</U>.
Such Loan Party further agrees that, if it shall acquire any interest in any commercial tort claim (whether from another Person or because
such commercial tort claim shall have come into existence) with an amount in controversy in excess of $250,000, (i)&nbsp;such Loan Party
shall promptly after upon such acquisition, deliver to the Lender, in each case in form and substance satisfactory to the Lender, a notice
of the existence and nature of such commercial tort claim and a supplement to the Perfection Certificate containing a specific description
of such commercial tort claim.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.08.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Power
of Attorney</U>. Each Loan Party hereby irrevocably appoints the Lender (such appointment being coupled with an interest) as such Loan
Party&rsquo;s attorney-in-fact, with full authority in the place and stead of such Loan Party and in the name of such Loan Party, the
Lender or otherwise, from time to time in the Lender&rsquo;s discretion to take any action and to execute any instrument that the Lender
may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, in each case, after the occurrence and during
the continuance of an Event of Default, including the following:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;to
take or cause to be taken all actions necessary to perform or comply or cause performance or compliance with the terms of this Agreement,
including access to pay or discharge taxes or Liens (other than Permitted Liens) levied or placed upon or threatened against the Collateral,
the legality or validity thereof and the amounts necessary to discharge the same to be determined by the Lender in its sole discretion,
any such payments made by the Lender to become obligations of the Loan Parties to the Lender, due and payable immediately without demand;
and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(i)&nbsp;to
ask for, demand, collect, sue for, recover, compound, receive and give acquittance and receipts for moneys due and to become due under
or in respect of any of the Collateral, and to receive, endorse and collect any drafts or other instruments, documents and chattel paper
in connection therewith; (ii)&nbsp;to file any claims or take any action or institute any proceedings that the Lender may deem necessary
or desirable for the collection of any of the Collateral or otherwise to enforce the rights of the Lender with respect to any of the
Collateral; and (iii)&nbsp;generally to sell, transfer, lease, license, sublicense, pledge, make any agreement with respect to or otherwise
deal with any of the Collateral as fully and completely as though the Lender were the absolute owner thereof for all purposes, and to
do, at the Lender&rsquo;s option and at such Loan Party&rsquo;s expense, at any time or from time to time, all acts and things that the
Lender deems reasonably necessary to protect, preserve or realize upon the Collateral and the Lender&rsquo;s security interest therein
in order to effect the intent of this Agreement, all as fully and effectively as such Loan Party might do.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.09.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Duty</U>. The powers conferred on the Lender pursuant to <B><I><U>&lrm;</U></I></B><U>Section&nbsp;9.08</U> are solely to protect the
interests of the Lender in the Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall
be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Lender nor any of its
officers, directors, employees or agents shall be responsible to the Loan Parties for any act or failure to act hereunder, except for
their own bad faith, gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable
decision.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Remedies</U>.
Upon the occurrence of any Event of Default and at any time thereafter during the continuance thereof:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Lender may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein, or otherwise available
to it, all the rights and remedies of a secured party on default under the UCC or any other applicable Requirements of Law. Without limiting
the generality of the foregoing, each Loan Party expressly agrees that, in any such event, the Lender without demand of performance or
other demand, advertisement or notice of any kind (except a notice specified below of time and place of public or private sale) to or
upon such Loan Party or any other Person (all and each of which demands, advertisements and notices are hereby expressly waived to the
maximum extent permitted by the UCC or any other applicable Requirements of Law), may take immediate possession of all or any portion
of the Collateral and (i)&nbsp;each Loan Party hereby agrees that it will at its own expense and upon written request of the Lender forthwith,
assemble all or part of the Collateral as directed by the Lender and make it available to the Lender, and (ii)&nbsp;without notice except
as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any of the Lender&rsquo;s
offices or elsewhere, for cash, on credit, and upon such other terms as the Lender may deem commercially reasonable. Each Loan Party
agrees that, to the extent notification of sale shall be required by law, at least ten (10)&nbsp;days prior notification to such Loan
Party of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification
and specifically such notification shall constitute a reasonable &ldquo;authenticated notification of disposition&rdquo; within the meaning
of Section&nbsp;9-611 of the UCC. The Lender shall not be obligated to make any sale of Collateral regardless of notification of sale
having been given. The Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor,
and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Loan Party agrees that (A)&nbsp;the
internet shall constitute a &ldquo;place&rdquo; for purposes of Section&nbsp;9-610(b)&nbsp;of the UCC and (B)&nbsp;to the extent notification
of sale shall be required by law, notification of the URL where a sale will occur and the time when a sale will commence at least ten
(10)&nbsp;days prior to the sale shall constitute a reasonable notification for purposes of Section&nbsp;9-611(b)&nbsp;of the UCC. Each
Loan Party agrees that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and such
Loan Party is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning
of Section&nbsp;9-610 of the UCC;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Lender may, in addition to other rights and remedies provided for herein or otherwise available to it under applicable Requirements of
Law, and without the requirement of notice to or upon the Loan Parties or any other Person except as otherwise required by the UCC or
any other applicable Requirements of Law (which notice is hereby expressly waived to the maximum extent permitted by the UCC or any other
applicable Requirements of Law), (x)&nbsp;with respect to any deposit accounts in which the security interest of the Lender hereunder
are perfected by control under Section&nbsp;9-104 of the UCC, instruct the bank maintaining such deposit account for such Loan Party
to pay the balance of such deposit account to or for the benefit of the Lender, and (y)&nbsp;with respect to any securities accounts
or commodity accounts in which the security interest of the Lender hereunder are perfected by control under Section&nbsp;9-106 of the
UCC, instruct the securities intermediary or commodities intermediary, as the case may be, maintaining such securities account or commodity
account for such Loan Party to (A)&nbsp;transfer any cash in such securities account or commodity account to or for the benefit of the
Lender, or (B)&nbsp;liquidate any financial assets in such securities account or commodity account that are customarily sold on a recognized
market and transfer the cash proceeds thereof to or for the benefit of the Lender; and</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;solely
for the purpose of enabling the Lender to exercise rights and remedies under this Agreement and at such time as the Lender shall be lawfully
entitled to exercise such rights and remedies and solely upon the occurrence and during the continuation of an Event of Default, each
Loan Party hereby grants to the Lender, to the extent it has the right to do so, an irrevocable, nonexclusive license (exercisable without
payment of royalty or other compensation to such Loan Party), subject, in the case of Trademarks, to sufficient rights to quality control
and inspection in favor of the Loan Party to avoid the risk of invalidation of said Trademarks, to use, manufacture, make, have made,
sell, offer for sale, operate under, license or sublicense any Intellectual Property now owned or hereafter acquired by such Loan Party,
and wherever the same may be located.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Delivery
of the Pledged Collateral</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
Guarantor agrees promptly to deliver or cause to be delivered to the Lender, for the benefit of the Lender as secured party, any and
all (i)&nbsp;Equity Interests in Subsidiaries of such Guarantor that constitute certificated securities or (ii)&nbsp;in the case of promissory
notes or other instruments evidencing Indebtedness, are required to be delivered pursuant to paragraph (b)&nbsp;of this <B><U>&lrm;</U></B><U>Section&nbsp;9.11</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
the extent any Indebtedness for borrowed money constituting Collateral (other than (i)&nbsp;intercompany current liabilities incurred
in the ordinary course of business in connection with the cash management operations of the Borrower and its Subsidiaries and (ii)&nbsp;to
the extent that a pledge of such promissory note or instrument would violate applicable law) owed to any Guarantor is evidenced by a
promissory note in an amount in excess of $250,000, such Guarantor shall promptly cause such promissory note to be pledged and delivered
to the Lender, for the benefit of the Lender as secured party, pursuant to the terms hereof. To the extent any such promissory note is
a demand note, each Guarantor party thereto agrees, if requested by the Lender, to immediately demand payment thereunder upon an Event
of Default specified under <B><U>&lrm;</U></B><U>Section&nbsp;7.01(a)</U>, <U>(f)</U>, <U>(g)</U>&nbsp;or <U>(l)</U>&nbsp;of the Agreement,
unless such demand would not be commercially reasonable or would otherwise expose such Guarantor to liability to the maker.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
delivery to the Lender, (i)&nbsp;any Collateral required to be delivered pursuant to the foregoing paragraphs (a)&nbsp;and (b)&nbsp;of
this <B>&lrm;</B><U>Section&nbsp;9.11</U> shall be accompanied by stock powers or note powers, as applicable, duly executed in blank
or other instruments of transfer reasonably satisfactory to the Lender, and by such other instruments and documents as the Lender may
reasonably request and (ii)&nbsp;all other property comprising part of such Collateral delivered pursuant to the terms of this Agreement
shall be accompanied to the extent necessary to perfect the security interest in or allow realization on such Collateral by proper instruments
of assignment duly executed by the applicable Guarantor and such other instruments or documents (including issuer acknowledgments in
respect of uncertificated securities) as the Lender may reasonably request. Each delivery of Collateral shall be accompanied by a schedule
describing the securities, which schedule shall be attached hereto as <U>Schedule <B><I>&lrm;</I></B>9.11</U> (or a supplement to <U>Schedule
<B><I>&lrm;</I></B>9.11</U>, as applicable) and made a part hereof; <U>provided</U> that failure to attach any such schedule hereto shall
not affect the validity of such pledge of such Collateral. Each schedule so delivered shall supplement any prior schedules so delivered.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;9.12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Security
Document Acknowledgment</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Each
Loan Party hereby acknowledges that (i)&nbsp;any Loan Document evidencing a Lien on the Collateral or securing the Loans and other Obligations
under this Agreement with or in favor of the Lender in connection with any and all Indebtedness owing to the Lender securing such Indebtedness
also secures the Loans and other Obligations under this Agreement and (ii)&nbsp;any requirements of a Loan Party with respect to any
Collateral when delivered to, deposited with, assigned to, or otherwise afforded control over to the Lender shall be so complied with
in respect of all Indebtedness owing to the Lender including the Loans and other Obligations under this Agreement.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>[RESERVED]</B></FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.01.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices,
Etc</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices
Generally</U>. All notices and other communications provided for hereunder shall be in writing and shall be delivered by hand, sent by
registered or certified mail (postage prepaid, return receipt requested), overnight courier, or telecopier. In the case of notices or
other communications to the Borrower, any other Loan Party or the Lender, as the case may be, they shall be sent to the respective address
set forth below (or, as to each party, at such other address as shall be designated by such party in a written notice to the other parties
complying as to delivery with the terms of this <B>&lrm;</B><U>Section&nbsp;11.01</U>):</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 100%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">if to the Borrower or any other Loan
    Party:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Armata Pharmaceuticals,&nbsp;Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">5005 McConnell Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90066</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Attention: Chief Executive Officer; Senior Vice President of Finance</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: dbirx@armatapharma.com; dhouse@armatapharma.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>with a copy (which shall not constitute notice) to:</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Thompson Hine LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">300 Madison Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">27th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">New York, New York&nbsp;&nbsp;10017-6232</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Attention: Faith L. Charles; Thomas R. Butchko</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: faith.charles@thompsonhine.com; thomas.butchko@thompsonhine.com</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt; width: 100%"><FONT STYLE="font-size: 10pt">if to the Lender, to it at the following address:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Innoviva Strategic Opportunities LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">1350 Old Bayshore Hwy</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Suite&nbsp;400</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Burlingame, CA&nbsp;&nbsp;94010</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Attention:&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: pavel.raifeld@inva.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>with a copy (which shall not constitute notice) to:</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Willkie Farr&nbsp;&amp; Gallagher LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">787 Seventh Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">New York, New York&nbsp;&nbsp;10019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Attention: Jared Fertman; Morgan McDevitt</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: jfertman@willkie.com; mmcdevitt@willkie.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">All
notices or other communications sent in accordance with this &lrm;<U>Section&nbsp;11.01</U>, shall be deemed received on the earlier
of the date of actual receipt or 3 Business Days after the deposit thereof in the mail; <U>provided</U>, that (i)&nbsp;notices sent by
overnight courier service shall be deemed to have been given when received, and (ii)&nbsp;notices sent by email shall be deemed to have
been given when sent, unless the sender receives an error message in respect of such email.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.02.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Amendments,
Etc</U>. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any
Loan Party therefrom, shall in any event be effective unless the same shall be in writing and signed by the Lender and the Borrower,
and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Notwithstanding
the foregoing, (I)&nbsp;the consent of the Borrower shall not be required to (i)&nbsp;change any order of priority set forth in <U>&lrm;Section&nbsp;2.06(c)</U>,
and (ii)&nbsp;amend, modify or supplement this Agreement or any other Loan Document to cure any ambiguity, omission, mistake, defect
or inconsistency as reasonably determined by the Lender and (II)&nbsp;the Borrower may supplement <U>Schedule &lrm;5.01(n)</U>&nbsp;from
time to time and such schedule shall be, on the Business Day that is five Business Days after the date such updated schedule is distributed
to the Lender, deemed effective without the consent of any Loan Party or the Lender.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.03.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Waiver; Remedies, Etc.</U> No failure on the part of the Lender to exercise, and no delay in exercising, any right hereunder or under
any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right under any Loan Document
preclude any other or further exercise thereof or the exercise of any other right. The rights and remedies of the Lender provided herein
and in the other Loan Documents are cumulative and are in addition to, and not exclusive of, any rights or remedies provided by law.
The rights of the Lender under any Loan Document against any party thereto are not conditional or contingent on any attempt by the Lender
to exercise any of their rights under any other Loan Document against such party or against any other Person.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.04.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Expenses;
Taxes; Attorneys&rsquo; Fees</U>. The Borrower agrees to pay (a)&nbsp;on the Effective Date and (b)&nbsp;after the Effective Date, within
five Business Days after receipt of an invoice that sets forth such costs and expenses in reasonable detail, all reasonable and documented
out-of-pocket costs and expenses incurred by or on behalf of the Lender, regardless of whether the transactions contemplated hereby are
consummated, including reasonable and documented fees, costs, client charges and expenses of counsel (but limited in each case of this
 &lrm;<U>Section&nbsp;11.04</U> with respect to counsel, to (i)&nbsp;one primary counsel for the Lender, (ii)&nbsp;one local counsel in
each relevant jurisdiction or a single special counsel acting in multiple jurisdictions for the Lender, and (iii)&nbsp;with respect to
reasonable and documented fees, costs, client charges and expenses of counsel incurred on or before the Effective Date, the Lender shall
be responsible for its own fees, costs, client charges and expenses of counsel) due diligence, physical counts, investigations, searches
and filings, monitoring of assets, appraisals of Collateral, the rating of the Loan, reasonable title searches and reviewing environmental
assessments, miscellaneous disbursements, examination, travel, lodging and meals, arising from or relating to: (a)&nbsp;the negotiation,
preparation, execution, delivery, performance and administration of this Agreement and the other Loan Documents (including the preparation
of any additional Loan Documents pursuant to <B><I>&lrm;</I></B><U>Section&nbsp;6.01(b)</U>&nbsp;or the review of any of the agreements,
instruments and documents), (b)&nbsp;any requested amendments, waivers or consents to this Agreement or the other Loan Documents whether
or not such documents become effective or are given, (c)&nbsp;the preservation and protection of any of the Lender&rsquo;s rights under
this Agreement or the other Loan Documents, (d)&nbsp;the defense of any claim or action asserted or brought against the Lender by any
Person that arises from or relates to this Agreement, any other Loan Document, the Lender&rsquo;s claims against any Loan Party, or any
and all matters in connection therewith, (e)&nbsp;the commencement or defense of, or intervention in, any court proceeding arising from
or related to this Agreement or any other Loan Document, (f)&nbsp;the filing of any petition, complaint, answer, motion or other pleading
by the Lender, or the taking of any action in respect of the Collateral or other security, in connection with this Agreement or any other
Loan Document, (g)&nbsp;the protection, collection, lease, sale, taking possession of or liquidation of, any Collateral or other security
in accordance with this Agreement or any other Loan Document, (h)&nbsp;any attempt to enforce any Lien or security interest in any Collateral
or other security in accordance with this Agreement or any other Loan Document, (i)&nbsp;any attempt to collect from any Loan Party in
accordance with this Agreement or any other Loan Document, (j)&nbsp;all liabilities and costs arising from or in connection with the
past, present or future operations of any Loan Party involving any damage to real or personal property or natural resources or harm or
injury alleged to have resulted from any release of Hazardous Materials on, upon or into such property, (k)&nbsp;any Environmental Liabilities
and Costs incurred in connection with the investigation, removal, cleanup and/or remediation of any Hazardous Materials present or arising
out of the operations of any Facility of any Loan Party, (l)&nbsp;any Environmental Liabilities and Costs incurred in connection with
any Environmental Lien or any Facility of a Loan Party or (m)&nbsp;the receipt by the Lender of any advice from professionals with respect
to any of the foregoing. Without limitation of the foregoing or any other provision of any Loan Document: (x)&nbsp;the Borrower agree
to pay all stamp, document, transfer, recording or filing taxes or fees and similar impositions now or hereafter reasonably determined
by the Lender to be payable in connection with this Agreement or any other Loan Document, and the Borrower agrees to save the Lender
and hold the Lender harmless from and against any and all present or future claims, liabilities or losses with respect to or resulting
from any omission to pay or delay in paying any such taxes, fees or impositions, (y)&nbsp;the Borrower agrees to pay all broker fees
with respect to any broker engaged by any Loan Party that may become due in connection with the transactions contemplated by this Agreement
and the other Loan Documents, and (z)&nbsp;if the Borrower fails to perform any covenant or agreement contained herein or in any other
Loan Document, the Lender may itself perform or cause performance of such covenant or agreement, and the expenses of the Lender incurred
in connection therewith shall be reimbursed on demand by the Borrower. The obligations of the Borrower under this <B><I>&lrm;</I></B><U>Section&nbsp;11.04
</U>shall survive the repayment of the Obligations and discharge of any Liens granted under the Loan Documents. The Lender shall have
the right, while it holds the Loan, to make all selections of counsel or other types of professionals or advisors.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.05.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Right
of Set-off</U>. Upon the occurrence and during the continuance of any Event of Default, the Lender may, and is hereby authorized to,
at any time and from time to time, without notice to any Loan Party (any such notice being expressly waived by the Loan Parties) and
to the fullest extent permitted by law, set off and apply any and all deposits (general or special, time or demand, provisional or final)
at any time held and other Indebtedness at any time owing by the Lender or any of its Affiliates to or for the credit or the account
of any Loan Party against any and all obligations of the Loan Parties either now or hereafter existing under any Loan Document, irrespective
of whether or not the Lender shall have made any demand hereunder or thereunder and although such obligations may be contingent or unmatured.
The Lender agrees to notify such Loan Party promptly after any such set-off and application made by the Lender or any of its Affiliates
provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Lender
under this&nbsp;<B><I><U>&lrm;</U></I></B><U>Section&nbsp;11.05</U> are in addition to the other rights and remedies (including other
rights of set-off) which the Lender may have under this Agreement or any other Loan Documents of law or otherwise.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.06.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Severability</U>.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.07.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Assignments
and Participations</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement and the other Loan Documents shall be binding upon and inure to the benefit of each Loan Party and the Lender and their respective
successors and permitted assigns; <U>provided</U>, <U>however</U>, that none of the Loan Parties may assign or transfer any of its rights
hereunder or under the other Loan Documents without the prior written consent of the Lender and any such assignment without the Lender&rsquo;s
prior written consent shall be null and void.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Lender shall have the right with, so long as no Event of Default exists, the prior written consent of the Borrower (which consents shall
not be unreasonably withheld, conditioned or delayed and shall not be required for an assignment by the Lender to an Affiliate of the
Lender), to sell, assign, transfer, assign, negotiate, or grant participations in all or any part of, or any interest in the Lender&rsquo;s
rights and benefits hereunder; provided that, the Borrower shall be deemed to have granted its consent to any assignment requiring its
consent hereunder unless Borrower has expressly objected to such assignment within five (5)&nbsp;Business Days after notice thereof.
The Lender may disclose the Loan Documents and any other financial or other information relating to the Borrower to any potential participant
or assignee of the Loan; provided that such participant or assignee agrees for the benefit of the Borrower to protect the confidentiality
of such documents and information using the same measures that it uses to protect its own confidential information.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.08.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Counterparts;
Electronic Signatures</U>. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts,
each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. Delivery
of an executed counterpart of this Agreement by telecopier or electronic mail shall be equally as effective as delivery of an original
executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telecopier or electronic mail
also shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall
not affect the validity, enforceability, and binding effect of this Agreement. The words &ldquo;execution&rdquo;, &ldquo;execute&rdquo;,
 &ldquo;signed&rdquo;, &ldquo;signature&rdquo; and words of like import in or related to this Agreement or any other document to be signed
in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic
matching of assignment terms and contract formations on electronic platforms approved by the Lender, or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based
on the Uniform Electronic Transactions Act; <U>provided</U> that notwithstanding anything contained herein to the contrary the Lender
is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Lender
pursuant to procedures approved by it. The foregoing shall apply to each other Loan Document <I>mutatis mutandis</I>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.09.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>GOVERNING
LAW</U>. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN RESPECT OF
SUCH OTHER LOAN DOCUMENT) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>CONSENT
TO JURISDICTION; SERVICE OF PROCESS AND VENUE</U>. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
MAY&nbsp;BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY HEREBY IRREVOCABLY ACCEPTS IN RESPECT OF ITS
PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH LOAN PARTY HEREBY IRREVOCABLY CONSENTS TO THE
SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS AND IN ANY SUCH ACTION OR PROCEEDING BY ANY MEANS PERMITTED BY APPLICABLE
LAW,&nbsp;INCLUDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE BORROWER AT ITS ADDRESS
FOR NOTICES AS SET FORTH IN <B><I><U>&lrm;</U></I></B><U>SECTION&nbsp;11.01</U>, SUCH SERVICE TO BECOME EFFECTIVE 10 DAYS AFTER SUCH
MAILING. THE LOAN PARTIES AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY&nbsp;BE ENFORCED IN
OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE LENDER
TO SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY LOAN PARTY
IN ANY OTHER JURISDICTION. EACH LOAN PARTY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
WHICH IT MAY&nbsp;NOW OR HEREAFTER HAVE TO THE JURISDICTION OR LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED
TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY LOAN PARTY HAS OR HEREAFTER
MAY&nbsp;ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT
PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, EACH LOAN PARTY HEREBY IRREVOCABLY
WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>WAIVER
OF JURY TRIAL,&nbsp;ETC</U>. EACH LOAN PARTY AND THE LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
CONCERNING ANY RIGHTS UNDER THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS, OR UNDER ANY AMENDMENT, WAIVER, CONSENT,&nbsp;INSTRUMENT, DOCUMENT
OR OTHER AGREEMENT DELIVERED OR WHICH IN THE FUTURE MAY&nbsp;BE DELIVERED IN CONNECTION THEREWITH, OR ARISING FROM ANY FINANCING RELATIONSHIP
EXISTING IN CONNECTION WITH THIS AGREEMENT, AND AGREES THAT ANY SUCH ACTION, PROCEEDINGS OR COUNTERCLAIM SHALL BE TRIED BEFORE A COURT
AND NOT BEFORE A JURY. EACH LOAN PARTY CERTIFIES THAT NO OFFICER, REPRESENTATIVE, AGENT OR ATTORNEY OF THE LENDER HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT THE LENDER WOULD NOT,&nbsp;IN THE EVENT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM, SEEK TO ENFORCE THE FOREGOING WAIVERS.
EACH LOAN PARTY HEREBY ACKNOWLEDGES THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDER ENTERING INTO THIS AGREEMENT.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Consent
by the Lender</U>. Except as otherwise expressly set forth herein or in any other Loan Document to the contrary (including to the extent
any Action (as defined below) is qualified by &ldquo;reasonableness&rdquo;), if the consent, approval, satisfaction, determination, judgment,
acceptance or similar action (an &ldquo;<U>Action</U>&rdquo;) of the Lender shall be permitted or required pursuant to any provision
hereof or any provision of any other agreement to which any Loan Party is a party and to which the Lender has succeeded thereto, such
Action shall be required to be in writing and may be withheld or denied by the Lender, in its sole discretion, with or without any reason,
and without being subject to question or challenge on the grounds that such Action was not taken in good faith.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.13.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Party Deemed Drafter</U>. Each of the parties hereto agrees that no party hereto shall be deemed to be the drafter of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.14.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reinstatement;
Certain Payments</U>. If any claim is ever made upon the Lender for repayment or recovery of any amount or amounts received by the Lender
in payment or on account of any of the Obligations, the Lender shall give prompt notice of such claim to the Borrower, and if the Lender
repays all or part of such amount by reason of (i)&nbsp;any judgment, decree or order of any court or administrative body having jurisdiction
over the Lender or any of its property, or (ii)&nbsp;any good faith settlement or compromise of any such claim effected by the Lender
with any such claimant, then and in such event each Loan Party agrees that (A)&nbsp;any such judgment, decree, order, settlement or compromise
shall be binding upon it notwithstanding the cancellation of any Indebtedness hereunder or under the other Loan Documents or the termination
of this Agreement or the other Loan Documents, and (B)&nbsp;it shall be and remain liable to the Lender hereunder for the amount so repaid
or recovered to the same extent as if such amount had never originally been received by the Lender.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.15.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Indemnification;
Limitation of Liability for Certain Damages</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
addition to each Loan Party&rsquo;s other Obligations under this Agreement, each Loan Party agrees to, jointly and severally, defend,
protect, indemnify and hold harmless the Lender and all of its Affiliates, officers, directors, employees, attorneys, consultants and
agents (collectively called the&nbsp;&ldquo;<U>Indemnitees</U>&rdquo;) from and against any and all losses, damages, liabilities, obligations,
penalties, fees, reasonable costs and expenses (including reasonable attorneys&rsquo; fees, costs and expenses) incurred by such Indemnitees,
whether prior to or from and after the Effective Date, whether direct, indirect or consequential, as a result of or arising from or relating
to or in connection with any of the following: (i)&nbsp;the negotiation, preparation, execution or performance or enforcement of this
Agreement, any other Loan Document or of any other document executed in connection with the transactions contemplated by this Agreement,
(ii)&nbsp;the Lender&rsquo;s furnishing of funds to the Borrower under this Agreement or the other Loan Documents, including the management
of the Loan or the Borrower&rsquo;s use of the proceeds thereof, (iii)&nbsp;the Lender relying on any instructions of the Borrower or
the handling of Collateral as herein provided, (iv)&nbsp;any matter relating to the financing transactions contemplated by this Agreement
or the other Loan Documents or by any document executed in connection with the transactions contemplated by this Agreement or the other
Loan Documents, (v)&nbsp;any actual or alleged presence or release of hazardous materials on or from any property owned or operated by
the Borrower or any of its subsidiaries, or any environmental liability resulting from the handling of hazardous materials or violation
of environmental laws, related in any way to the Borrower or any of its subsidiaries or (vi)&nbsp;any claim, litigation, investigation
or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (collectively, the &ldquo;<U>Indemnified
Matters</U>&rdquo;); <U>provided</U>, <U>however</U>, that the Loan Parties shall not have any obligation to any Indemnitee under this
subsection (a)&nbsp;for any Indemnified Matter caused by, as determined by a final non-appealable judgment of a court of competent jurisdiction,
(y)&nbsp;the bad faith, gross negligence or willful misconduct of such Indemnitee or (z)&nbsp;a material breach by an Indemnitee of any
of their obligations under this Agreement or any other Loan Document.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
indemnification for all of the foregoing losses, damages, fees, costs and expenses of the Indemnitees set forth in this <B>&lrm;</B><U>Section&nbsp;11.15
</U>are required to be paid by a Loan Party within 5 Business Days following receipt in writing of a request for the payment and a reasonably
detailed schedule of all amounts claimed. To the extent that the undertaking to indemnify, pay and hold harmless set forth in this <B><U>&lrm;</U></B><U>Section&nbsp;11.15
</U>may be unenforceable because it is violative of any law or public policy, each Loan Party shall, jointly and severally, contribute
the maximum portion which it is permitted to pay and satisfy under applicable Requirements of Law, to the payment and satisfaction of
all Indemnified Matters incurred by the Indemnitees.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No
Loan Party shall assert, and each Loan Party hereby waives, any claim against the Indemnitees, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract,
tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of, or in any way related to,
this Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein,
the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring
in connection therewith, and each Loan Party hereby waives, releases and agrees not to sue upon any such claim or seek any such damages,
whether or not accrued and whether or not known or suspected to exist in its favor.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
indemnities and waivers set forth in this <B><U>&lrm;</U></B><U>Section&nbsp;11.15</U> shall survive the repayment of the Obligations
and discharge of any Liens granted under the Loan Documents.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.16.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Records</U>.
The unpaid principal of and interest on the Loan, the interest rate or rates applicable to such unpaid principal and interest, the duration
of such applicability, and the accrued and unpaid fees payable pursuant to this Agreement, shall at all times be ascertained from the
records of the Lender, which shall be conclusive and binding absent manifest error.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.17.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Binding
Effect</U>. This Agreement shall become effective when it shall have been executed by each Loan Party, the Lender and when the conditions
precedent set forth in <B><I>&lrm;</I></B><U>Section&nbsp;4.01</U> hereof have been satisfied or waived in writing by the Lender, and
thereafter shall be binding upon and inure to the benefit of each Loan Party, the Lender, and their respective successors and assigns,
except that the Loan Parties shall not have the right to assign their rights hereunder or any interest herein without the prior written
consent of the Lender, and any assignment by the Lender shall be governed by <B><I>&lrm;</I></B><U>Section&nbsp;11.07</U> hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.18.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Integration</U>.
This Agreement, together with the other Loan Documents, reflects the entire understanding of the parties with respect to the transactions
contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the Effective Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.19.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>USA
PATRIOT Act</U>. The Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required to
obtain, verify and record information that identifies the entities composing the Loan Parties, which information includes the name and
address of each such entity and other information that will allow the Lender to identify the entities composing the Loan Parties in accordance
with the USA PATRIOT Act. Each Loan Party agrees to take such action and execute, acknowledge and deliver at its sole cost and expense,
such instruments and documents as the Lender may reasonably require from time to time in order to enable the Lender to comply with the
USA PATRIOT Act.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&nbsp;11.20.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>ORAL
AGREEMENTS</U>. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE
NOT ENFORCEABLE UNDER WASHINGTON LAW.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>[REMAINDER OF
THIS PAGE INTENTIONALLY LEFT BLANK]</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized,
as of the date first above written.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B><U>BORROWER</U></B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ARMATA
    PHARMACEUTICALS,&nbsp;INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/ Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B><U>GUARANTORS</U></B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">C3J
    THERAPEUTICS,&nbsp;INC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">C3
    JIAN, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">[Signature Page&nbsp;to
Credit and Security Agreement &ndash; March&nbsp;2025]</FONT></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B><U>LENDER</U></B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">INNOVIVA
    STRATEGIC OPPORTUNITIES LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:
    Innoviva,&nbsp;Inc. (its managing member)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/ Pavel Raifeld</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:
    Pavel Raifeld</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:
    Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">[Signature Page&nbsp;to
Credit and Security Agreement &ndash; March&nbsp;2025]</FONT></P>

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

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

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm258929d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase"><B>Exhibit&nbsp;10.2</B></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; text-align: center"><B>FIRST AMENDMENT TO</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">FIRST AMENDMENT TO CREDIT AND
SECURITY AGREEMENT, dated as of March&nbsp;12, 2025 (this &ldquo;<U>Amendment</U>&rdquo;), by and among Armata Pharmaceuticals,&nbsp;Inc.,
a Washington corporation (the &ldquo;<U>Borrower</U>&rdquo;), each Guarantor from time to time party to the Credit Agreement (as defined
below) (the &ldquo;<U>Guarantors</U>&rdquo; and, together with the Borrower, the &ldquo;<U>Loan Parties</U>&rdquo;) and Innoviva Strategic
Opportunities LLC, a Delaware limited liability company, or an affiliate thereof (the &ldquo;<U>Lender</U>&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; text-align: center"><U>W I T N E S S E T H:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Loan Parties and
the Lender have entered into that certain Credit and Security Agreement, dated as of March&nbsp;4, 2024 (as the same may be amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the &ldquo;<U>Credit Agreement</U>&rdquo;) (capitalized terms
not otherwise defined in this Amendment have the same meanings assigned thereto in the Credit 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-align: justify; text-indent: 1in">WHEREAS, the Borrower and the
Lender have agreed to amend the Credit Agreement, pursuant to, and in accordance with, Section&nbsp;11.02 of the Credit Agreement in order
to effect the amendments set forth herein, to be deemed effective on the Amendment Effective Date (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of all of which is hereby acknowledged, the
parties hereto hereby agree 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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;1.
</FONT><U>Amendment to Credit Agreement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
definition of &ldquo;Maturity Date&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated in its entirety
to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;&ldquo;<U>Maturity
Date</U>&rdquo; means March&nbsp;12, 2026.&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(b)&nbsp;of the definition of &ldquo;Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations of such Person for the deferred purchase price of property or services (other than trade payables or other accounts payable
incurred in the ordinary course of such Person&rsquo;s business and not outstanding for more than ninety (90) days after the date such
payable was created (or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves
in conformity with GAAP have been provided for on the books of such Person), any earn-out, purchase price adjustment or similar obligation
until such obligation appears in the liabilities section of the balance sheet of such Person);&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(k)&nbsp;of the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Permitted FNBO Credit Card Indebtedness; and&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
following Clause (l)&nbsp;is added to the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(l)&nbsp;any
and all other Indebtedness, in addition to the Indebtedness permitted pursuant to clause (a)&nbsp;above, owing to the Lender (and any
permitted successor or assignee), under any agreement, bond, debenture, note or other similar instrument.&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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(e)&nbsp;of the definition of &ldquo;Permitted Liens&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(e)&nbsp;deposits
and pledges of cash securing (i)&nbsp;obligations incurred in respect of workers&rsquo; compensation, unemployment insurance and other
general liability insurance obligations, other social security laws and regulations or other forms of governmental insurance or benefits,
(ii)&nbsp;the performance of bids, tenders, leases, contracts (other than for the payment of money) and statutory obligations, (iii)&nbsp;obligations
on surety bonds, appeal bonds, performance bonds and other obligations of similar nature but only to the extent such deposits or pledges
are made or otherwise arise in the ordinary course of business and secure obligations not past due or (iv)&nbsp;the Permitted FNBO Credit
Card Indebtedness, provided however that the aggregate amount of cash deposited or pledged to secure the Permitted FNBO Credit Card Indebtedness
shall not exceed $220,000 at any time;&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Section&nbsp;1.01
of the Credit Agreement is hereby amended by adding the following definitions:</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; text-indent: 1in">&ldquo;&ldquo;<U>FNBO</U>&rdquo; means First National
Bank of Omaha.&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; text-align: justify; margin: 0pt 0 0pt 1in; text-indent: 0in">&ldquo;&ldquo;<U>Permitted FNBO Credit Card
Indebtedness</U>&rdquo; means Indebtedness incurred by any Loan Party under the business credit card program with FNBO, in an aggregate
amount not to exceed One Hundred Thousand Dollars ($100,000).&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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;2.
</FONT><U>Representations and Warranties</U>. Each of the Loan Parties hereby represents and warrants on the Amendment Effective Date
that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Loan Parties (i)&nbsp;is a corporation, limited liability company or limited partnership, as applicable, duly organized, validly
existing and in good standing under the laws of the state or jurisdiction of its organization, (ii)&nbsp;has all requisite power and authority
to conduct its business as now conducted and as presently contemplated and, in the case of the Borrower, to make the borrowings hereunder,
and to execute and deliver this Amendment, and to consummate the transactions contemplated thereby, and (iii)&nbsp;is duly qualified to
do business and is in good standing in each jurisdiction other than the state or jurisdiction of its organization in which the character
of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary, except (solely
for the purposes of this subclause (iii)) where the failure to be so qualified and in good standing could reasonably be expected to have
a Material Adverse Effect. The Borrower and its Subsidiaries have obtained, and are in compliance with, all licenses, permits, approvals
and other authorizations necessary for the operation of their business</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and performance by each Loan Party of this Amendment, (i)&nbsp;has been duly authorized by all necessary action, (ii)&nbsp;does
not and will not contravene (A)&nbsp;any of its Governing Documents, (B)&nbsp;any applicable Requirement of Law or (C)&nbsp;any Contractual
Obligation binding on or otherwise affecting it or any of its properties, (iii)&nbsp;does not and will not result in or require the creation
of any Lien (other than pursuant to this Amendment) upon or with respect to any of its properties, except, in the case of clause (ii)(C),
to the extent where such contravention, default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal could not
reasonably be expected to have a Material Adverse Effect.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required in connection with
the due execution, delivery and performance by any Loan Party of this Amendment other than any authorization, approval, notice or filing
or other action as has been previously been obtained or taken and remains in full force and effect on the Amendment Effective Date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment is a legal, valid and binding obligation of each Loan Party, enforceable against each, such Loan Party in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors&rsquo; rights generally and by general principles of equity.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
representations and warranties of the Borrower and each other Loan Party contained in <U>Article&nbsp;V</U> of the Credit Agreement and
any other Loan Document are true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct in all material respects (and in all respects if any such representation
or warranty is already qualified by materiality) as of such earlier date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;3.
</FONT><U>Conditions of Effectiveness of this Amendment</U>. This Amendment shall become effective as of the date on which the following
conditions shall have been satisfied (or waived) (the &ldquo;<U>Amendment Effective Date</U>&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Lender (or its counsel) shall have received counterparts to this Amendment, duly executed by the Borrower and the other Loan Parties;
and</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Borrower shall have paid or shall pay on the Amendment Effective Date all costs, fees and expenses required to be paid pursuant to <U>Section&nbsp;7</U>
hereof and Section&nbsp;11.04 of the Credit Agreement, including, without limitation, fees and expenses of Willkie Farr&nbsp;&amp; Gallagher
LLP, counsel to the Lender.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;4.
</FONT><U>Reference to and Effect on the Credit Agreement and the other Loan Documents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
and after the Amendment Effective Date, each reference in the Credit Agreement to &ldquo;this Agreement,&rdquo; &ldquo;hereunder,&rdquo;
 &ldquo;hereof&rdquo; or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended by this Amendment.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Credit Agreement, as specifically amended by this Amendment, and each of the other Loan Documents are and shall continue to be in full
force and effect and are hereby in all respects ratified and confirmed.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of the Lender under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.
On and after the Amendment Effective Date, this Amendment shall for all purposes constitute a Loan Document.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment shall not extinguish the Loans or any other Obligations outstanding under the Credit Agreement. Nothing contained herein shall
be construed as a substitution or novation of the Loans or any other Obligations outstanding under the Credit Agreement, which shall remain
outstanding after the Amendment Effective Date as modified hereby.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Loan Parties expressly acknowledge and agree that (i)&nbsp;there has not been, and this Amendment does not constitute or establish, a
novation with respect to the Credit Agreement or any other Loan Document, or a mutual departure from the strict terms, provisions, and
conditions thereof and (ii)&nbsp;nothing in this Amendment shall affect or limit the Lender&rsquo;s right to demand payment of liabilities
owing from the Loan Parties to the Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit
Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan
Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence and continuance
of an Event of Default under the Credit Agreement or the other Loan Documents.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;5.
</FONT><U>Reaffirmation</U>. Each Loan Party hereby reaffirms its obligations under the Credit Agreement and each other Loan Document
to which it is a party, in each case as amended by this Amendment and acknowledges and agrees that the grants of security interests by
and the guarantees of the Loan Parties contained in the Loan Documents are, and shall remain, in full force and effect immediately after
giving effect to this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;6.
</FONT><U>Execution in Counterparts; Electronic Signatures</U>. This Amendment may be executed by one or more of the parties to this Amendment
on any number of separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page&nbsp;of this Amendment by facsimile
or other electronic transmission (e.g. &ldquo;pdf&rdquo; or &ldquo;tif&rdquo; format) shall be effective as delivery of a manually executed
counterpart hereof. The words &ldquo;execution&rdquo;, &ldquo;execute&rdquo;, &ldquo;signed&rdquo;, &ldquo;signature&rdquo; and words
of like import in or related to this Amendment or any other document to be signed in connection with this Amendment and the transactions
contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations
on electronic platforms approved by the Lender, or the keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may
be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions
Act; <U>provided</U> that notwithstanding anything contained herein to the contrary the Lender is under no obligation to agree to accept
electronic signatures in any form or in any format unless expressly agreed to by the Lender pursuant to procedures approved by it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;7.
</FONT><U>Costs and Expenses</U>. The Borrower agrees to reimburse the Lender for its reasonable out of pocket expenses in connection
with this Amendment, including the reasonable fees, charges and disbursements of Willkie Farr&nbsp;&amp; Gallagher LLP, counsel for the
Lender, in each case, to the extent that an invoice that sets forth such costs and expense in reasonable detail has been provided to the
Borrower in accordance with Section&nbsp;11.04 of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;8.
</FONT><U>Governing Law; Consent to Jurisdiction; Service of Process and Venue; Waiver of Jury Trial, Etc</U>. The provisions of Sections
11.09 (<I>GOVERNING LAW</I>), 11.10 (<I>CONSENT TO JURISDICTION; SERVICE OF PROCESS AND VENUE</I>) and 11.11 (<I>WAIVER OF JURY TRIAL,&nbsp;ETC.</I>)
of the Credit Agreement are hereby incorporated in this Amendment, <I>mutatis mutandis</I>, and shall have the same effect as if this
Amendment were a part of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;9.
</FONT><U>Headings</U>. The section headings used in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose, be given any substantive effect, affect the construction hereof or be taken
into consideration in the interpretation 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; text-align: center">[<I>Signature Pages&nbsp;Follow</I>]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed by their respective signatories thereunto duly authorized, as of the date first above
written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>ARMATA PHARMACEUTICALS,&nbsp;INC.,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Borrower</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/ Deborah Birx</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&#8239;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3J THERAPEUTICS,&nbsp;INC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&#8239;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3 JIAN, LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Deborah Birx</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&#8239;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to First Amendment to Credit
and 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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>INNOVIVA STRATEGIC OPPORTUNITIES LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Lender</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: Innoviva,&nbsp;Inc. (its managing member)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/ Pavel Raifeld&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Pavel Raifeld</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to First Amendment to Credit
and Security Agreement]</P>

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

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tm258929d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase"><B>Exhibit&nbsp;10.3</B></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; text-align: center"><B>THIRD AMENDMENT TO</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIRD AMENDMENT TO CREDIT AND
SECURITY AGREEMENT, dated as of March&nbsp;12, 2025 (this &ldquo;<U>Amendment</U>&rdquo;), by and among Armata Pharmaceuticals,&nbsp;Inc.,
a Washington corporation (the &ldquo;<U>Borrower</U>&rdquo;), each Guarantor from time to time party to the Credit Agreement (as defined
below) (the &ldquo;<U>Guarantors</U>&rdquo; and, together with the Borrower, the &ldquo;<U>Loan Parties</U>&rdquo;) and Innoviva Strategic
Opportunities LLC, a Delaware limited liability company, or an affiliate thereof (the &ldquo;<U>Lender</U>&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; text-align: center"><U>W I T N E S S E T H:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Loan Parties and
the Lender have entered into that certain Credit and Security Agreement, dated as of July&nbsp;10, 2023 (as the same may be amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the &ldquo;<U>Credit Agreement</U>&rdquo;) (capitalized terms
not otherwise defined in this Amendment have the same meanings assigned thereto in the Credit 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-align: justify; text-indent: 1in">WHEREAS, the Borrower and the
Lender have agreed to amend the Credit Agreement, pursuant to, and in accordance with, Section&nbsp;11.02 of the Credit Agreement in order
to effect the amendments set forth herein, to be deemed effective on the Amendment Effective Date (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of all of which is hereby acknowledged, the
parties hereto hereby agree 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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;1.
</FONT><U>Amendment to Credit Agreement</U>.</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: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
definition of &ldquo;Maturity Date&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated in its entirety
to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;&ldquo;<U>Maturity
Date</U>&rdquo; means March&nbsp;12, 2026.&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(b)&nbsp;of the definition of &ldquo;Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations of such Person for the deferred purchase price of property or services (other than trade payables or other accounts payable
incurred in the ordinary course of such Person&rsquo;s business and not outstanding for more than ninety (90) days after the date such
payable was created (or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves
in conformity with GAAP have been provided for on the books of such Person), any earn-out, purchase price adjustment or similar obligation
until such obligation appears in the liabilities section of the balance sheet of such Person);&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(k)&nbsp;of the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Permitted FNBO Credit Card Indebtedness; and&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
following Clause (l)&nbsp;is added to the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(l)&nbsp;any
and all other Indebtedness, in addition to the Indebtedness permitted pursuant to clause (a)&nbsp;above, owing to the Lender (and any
permitted successor or assignee), under any agreement, bond, debenture, note or other similar instrument.&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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(e)&nbsp;of the definition of &ldquo;Permitted Liens&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(e)&nbsp;deposits
and pledges of cash securing (i)&nbsp;obligations incurred in respect of workers&rsquo; compensation, unemployment insurance and other
general liability insurance obligations, other social security laws and regulations or other forms of governmental insurance or benefits,
(ii)&nbsp;the performance of bids, tenders, leases, contracts (other than for the payment of money) and statutory obligations, (iii)&nbsp;obligations
on surety bonds, appeal bonds, performance bonds and other obligations of similar nature but only to the extent such deposits or pledges
are made or otherwise arise in the ordinary course of business and secure obligations not past due or (iv)&nbsp;the Permitted FNBO Credit
Card Indebtedness, provided however that the aggregate amount of cash deposited or pledged to secure the Permitted FNBO Credit Card Indebtedness
shall not exceed $220,000 at any time;&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Section&nbsp;1.01
of the Credit Agreement is hereby amended by adding the following definitions:</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; text-indent: 1in">&ldquo;&ldquo;<U>FNBO</U>&rdquo; means First National
Bank of Omaha.&rdquo;</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&ldquo;&ldquo;<U>Permitted FNBO Credit Card
Indebtedness</U>&rdquo; means Indebtedness incurred by any Loan Party under the business credit card program with FNBO, in an aggregate
amount not to exceed One Hundred Thousand Dollars ($100,000).&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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;2.
</FONT><U>Representations and Warranties</U>. Each of the Loan Parties hereby represents and warrants on the Amendment Effective Date
that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Loan Parties (i)&nbsp;is a corporation, limited liability company or limited partnership, as applicable, duly organized, validly
existing and in good standing under the laws of the state or jurisdiction of its organization, (ii)&nbsp;has all requisite power and authority
to conduct its business as now conducted and as presently contemplated and, in the case of the Borrower, to make the borrowings hereunder,
and to execute and deliver this Amendment, and to consummate the transactions contemplated thereby, and (iii)&nbsp;is duly qualified to
do business and is in good standing in each jurisdiction other than the state or jurisdiction of its organization in which the character
of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary, except (solely
for the purposes of this subclause (iii)) where the failure to be so qualified and in good standing could reasonably be expected to have
a Material Adverse Effect. The Borrower and its Subsidiaries have obtained, and are in compliance with, all licenses, permits, approvals
and other authorizations necessary for the operation of their business</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and performance by each Loan Party of this Amendment, (i)&nbsp;has been duly authorized by all necessary action, (ii)&nbsp;does
not and will not contravene (A)&nbsp;any of its Governing Documents, (B)&nbsp;any applicable Requirement of Law or (C)&nbsp;any Contractual
Obligation binding on or otherwise affecting it or any of its properties, (iii)&nbsp;does not and will not result in or require the creation
of any Lien (other than pursuant to this Amendment) upon or with respect to any of its properties, except, in the case of clause (ii)(C),
to the extent where such contravention, default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal could not
reasonably be expected to have a Material Adverse Effect.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required in connection with
the due execution, delivery and performance by any Loan Party of this Amendment other than any authorization, approval, notice or filing
or other action as has been previously been obtained or taken and remains in full force and effect on the Amendment Effective Date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment is a legal, valid and binding obligation of each Loan Party, enforceable against each, such Loan Party in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors&rsquo; rights generally and by general principles of equity.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
representations and warranties of the Borrower and each other Loan Party contained in <U>Article&nbsp;V</U> of the Credit Agreement and
any other Loan Document are true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct in all material respects (and in all respects if any such representation
or warranty is already qualified by materiality) as of such earlier date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;3.
</FONT><U>Conditions of Effectiveness of this Amendment</U>. This Amendment shall become effective as of the date on which the following
conditions shall have been satisfied (or waived) (the &ldquo;<U>Amendment Effective Date</U>&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Lender (or its counsel) shall have received counterparts to this Amendment, duly executed by the Borrower and the other Loan Parties;
and</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Borrower shall have paid or shall pay on the Amendment Effective Date all costs, fees and expenses required to be paid pursuant to <U>Section&nbsp;7</U>
hereof and Section&nbsp;11.04 of the Credit Agreement, including, without limitation, fees and expenses of Willkie Farr&nbsp;&amp; Gallagher
LLP, counsel to the Lender.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;4.
</FONT><U>Reference to and Effect on the Credit Agreement and the other Loan Documents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
and after the Amendment Effective Date, each reference in the Credit Agreement to &ldquo;this Agreement,&rdquo; &ldquo;hereunder,&rdquo;
 &ldquo;hereof&rdquo; or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended by this Amendment.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Credit Agreement, as specifically amended by this Amendment, and each of the other Loan Documents are and shall continue to be in full
force and effect and are hereby in all respects ratified and confirmed.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of the Lender under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.
On and after the Amendment Effective Date, this Amendment shall for all purposes constitute a Loan Document.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment shall not extinguish the Loans or any other Obligations outstanding under the Credit Agreement. Nothing contained herein shall
be construed as a substitution or novation of the Loans or any other Obligations outstanding under the Credit Agreement, which shall remain
outstanding after the Amendment Effective Date as modified hereby.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Loan Parties expressly acknowledge and agree that (i)&nbsp;there has not been, and this Amendment does not constitute or establish, a
novation with respect to the Credit Agreement or any other Loan Document, or a mutual departure from the strict terms, provisions, and
conditions thereof and (ii)&nbsp;nothing in this Amendment shall affect or limit the Lender&rsquo;s right to demand payment of liabilities
owing from the Loan Parties to the Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit
Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan
Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence and continuance
of an Event of Default under the Credit Agreement or the other Loan Documents.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;5.
</FONT><U>Reaffirmation</U>. Each Loan Party hereby reaffirms its obligations under the Credit Agreement and each other Loan Document
to which it is a party, in each case as amended by this Amendment and acknowledges and agrees that the grants of security interests by
and the guarantees of the Loan Parties contained in the Loan Documents are, and shall remain, in full force and effect immediately after
giving effect to this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;6.
</FONT><U>Execution in Counterparts; Electronic Signatures</U>. This Amendment may be executed by one or more of the parties to this Amendment
on any number of separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page&nbsp;of this Amendment by facsimile
or other electronic transmission (e.g. &ldquo;pdf&rdquo; or &ldquo;tif&rdquo; format) shall be effective as delivery of a manually executed
counterpart hereof. The words &ldquo;execution&rdquo;, &ldquo;execute&rdquo;, &ldquo;signed&rdquo;, &ldquo;signature&rdquo; and words
of like import in or related to this Amendment or any other document to be signed in connection with this Amendment and the transactions
contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations
on electronic platforms approved by the Lender, or the keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may
be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions
Act; <U>provided</U> that notwithstanding anything contained herein to the contrary the Lender is under no obligation to agree to accept
electronic signatures in any form or in any format unless expressly agreed to by the Lender pursuant to procedures approved by it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;7.
</FONT><U>Costs and Expenses</U>. The Borrower agrees to reimburse the Lender for its reasonable out of pocket expenses in connection
with this Amendment, including the reasonable fees, charges and disbursements of Willkie Farr&nbsp;&amp; Gallagher LLP, counsel for the
Lender, in each case, to the extent that an invoice that sets forth such costs and expense in reasonable detail has been provided to the
Borrower in accordance with Section&nbsp;11.04 of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;8.
</FONT><U>Governing Law; Consent to Jurisdiction; Service of Process and Venue; Waiver of Jury Trial, Etc</U>. The provisions of Sections
11.09 (<I>GOVERNING LAW</I>), 11.10 (<I>CONSENT TO JURISDICTION; SERVICE OF PROCESS AND VENUE</I>) and 11.11 (<I>WAIVER OF JURY TRIAL,&nbsp;ETC.</I>)
of the Credit Agreement are hereby incorporated in this Amendment, <I>mutatis mutandis</I>, and shall have the same effect as if this
Amendment were a part of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">SECTION&nbsp;9.
</FONT><U>Headings</U>. The section headings used in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose, be given any substantive effect, affect the construction hereof or be taken
into consideration in the interpretation 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; text-align: center">[<I>Signature Pages&nbsp;Follow</I>]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed by their respective signatories thereunto duly authorized, as of the date first above
written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>ARMATA PHARMACEUTICALS,&nbsp;INC.,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Borrower</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%"><I>/s/ Deborah Birx</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3J THERAPEUTICS,&nbsp;INC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><I>/s/ Deborah Birx</I>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3 JIAN, LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><I>/s/ Deborah Birx</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Third Amendment to Credit
and 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"></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="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>INNOVIVA STRATEGIC OPPORTUNITIES LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Lender</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: Innoviva,&nbsp;Inc. (its managing member)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%"><I>/s/ Pavel Raifeld&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Pavel Raifeld</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Third Amendment to Credit
and Security Agreement]</P>

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

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

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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>tm258929d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase"><B>Exhibit&nbsp;10.4</B></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; text-align: center"><B>FOURTH AMENDMENT TO SECURED CONVERTIBLE</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">FOURTH AMENDMENT TO SECURED
CONVERTIBLE CREDIT AND SECURITY AGREEMENT, dated as of March&nbsp;12, 2025 (this &ldquo;<U>Amendment</U>&rdquo;), by and among Armata
Pharmaceuticals,&nbsp;Inc., a Washington corporation (the &ldquo;<U>Borrower</U>&rdquo;), each Guarantor from time to time party to the
Credit Agreement (as defined below) (the &ldquo;<U>Guarantors</U>&rdquo; and, together with the Borrower, the &ldquo;<U>Loan Parties</U>&rdquo;)
and Innoviva Strategic Opportunities LLC, a Delaware limited liability company, or an affiliate thereof (the &ldquo;<U>Lender</U>&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; text-align: center"><U>W I T N E S S E T H:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Loan Parties and
the Lender have entered into that certain Secured Convertible Credit and Security Agreement, dated as of January&nbsp;10, 2023 (as the
same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the &ldquo;<U>Credit Agreement</U>&rdquo;)
(capitalized terms not otherwise defined in this Amendment have the same meanings assigned thereto in the Credit 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-align: justify; text-indent: 1in">WHEREAS, the Borrower and the
Lender have agreed to amend the Credit Agreement, pursuant to, and in accordance with, Section&nbsp;11.02 of the Credit Agreement in order
to effect the amendments set forth herein, to be deemed effective on the Amendment Effective Date (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of all of which is hereby acknowledged, the
parties hereto hereby agree 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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;1.
</B></FONT><U>Amendment to Credit Agreement</U>.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
definition of &ldquo;Maturity Date&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated in its entirety
to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;&ldquo;<U>Maturity
Date</U>&rdquo; means March&nbsp;12, 2026.&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(b)&nbsp;of the definition of &ldquo;Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations of such Person for the deferred purchase price of property or services (other than trade payables or other accounts payable
incurred in the ordinary course of such Person&rsquo;s business and not outstanding for more than ninety (90) days after the date such
payable was created (or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves
in conformity with GAAP have been provided for on the books of such Person), any earn-out, purchase price adjustment or similar obligation
until such obligation appears in the liabilities section of the balance sheet of such Person);&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(k)&nbsp;of the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Permitted FNBO Credit Card Indebtedness; and&rdquo;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
following Clause (l)&nbsp;is added to the definition of &ldquo;Permitted Indebtedness&rdquo; in Section&nbsp;1.01 of the Credit Agreement:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(l)&nbsp;any
and all other Indebtedness, in addition to the Indebtedness permitted pursuant to clause (a)&nbsp;above, owing to the Lender (and any
permitted successor or assignee), under any agreement, bond, debenture, note or other similar instrument.&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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Clause
(e)&nbsp;of the definition of &ldquo;Permitted Liens&rdquo; in Section&nbsp;1.01 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:</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 0pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;(e)&nbsp;deposits
and pledges of cash securing (i)&nbsp;obligations incurred in respect of workers&rsquo; compensation, unemployment insurance and other
general liability insurance obligations, other social security laws and regulations or other forms of governmental insurance or benefits,
(ii)&nbsp;the performance of bids, tenders, leases, contracts (other than for the payment of money) and statutory obligations, (iii)&nbsp;obligations
on surety bonds, appeal bonds, performance bonds and other obligations of similar nature but only to the extent such deposits or pledges
are made or otherwise arise in the ordinary course of business and secure obligations not past due or (iv)&nbsp;the Permitted FNBO Credit
Card Indebtedness, provided however that the aggregate amount of cash deposited or pledged to secure the Permitted FNBO Credit Card Indebtedness
shall not exceed $220,000 at any time;&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Section&nbsp;1.01
of the Credit Agreement is hereby amended by adding the following definitions:</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; text-indent: 1in">&ldquo;&ldquo;<U>FNBO</U>&rdquo; means First National
Bank of Omaha.&rdquo;</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&ldquo;&ldquo;<U>Permitted FNBO Credit Card
Indebtedness</U>&rdquo; means Indebtedness incurred by any Loan Party under the business credit card program with FNBO, in an aggregate
amount not to exceed One Hundred Thousand Dollars ($100,000).&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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;2.
</B></FONT><U>Representations and Warranties</U>. Each of the Loan Parties hereby represents and warrants on the Amendment Effective Date
that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Loan Parties (i)&nbsp;is a corporation, limited liability company or limited partnership, as applicable, duly organized, validly
existing and in good standing under the laws of the state or jurisdiction of its organization, (ii)&nbsp;has all requisite power and authority
to conduct its business as now conducted and as presently contemplated and, in the case of the Borrower, to make the borrowings hereunder,
and to execute and deliver this Amendment, and to consummate the transactions contemplated thereby, and (iii)&nbsp;is duly qualified to
do business and is in good standing in each jurisdiction other than the state or jurisdiction of its organization in which the character
of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary, except (solely
for the purposes of this subclause (iii)) where the failure to be so qualified and in good standing could reasonably be expected to have
a Material Adverse Effect. The Borrower and its Subsidiaries have obtained, and are in compliance with, all licenses, permits, approvals
and other authorizations necessary for the operation of their business</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and performance by each Loan Party of this Amendment, (i)&nbsp;has been duly authorized by all necessary action, (ii)&nbsp;does
not and will not contravene (A)&nbsp;any of its Governing Documents, (B)&nbsp;any applicable Requirement of Law or (C)&nbsp;any Contractual
Obligation binding on or otherwise affecting it or any of its properties, (iii)&nbsp;does not and will not result in or require the creation
of any Lien (other than pursuant to this Amendment) upon or with respect to any of its properties, except, in the case of clause (ii)(C),
to the extent where such contravention, default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal could not
reasonably be expected to have a Material Adverse Effect.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required in connection with
the due execution, delivery and performance by any Loan Party of this Amendment other than any authorization, approval, notice or filing
or other action as has been previously been obtained or taken and remains in full force and effect on the Amendment Effective Date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment is a legal, valid and binding obligation of each Loan Party, enforceable against each, such Loan Party in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors&rsquo; rights generally and by general principles of equity.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
representations and warranties of the Borrower and each other Loan Party contained in <U>Article&nbsp;V</U> of the Credit Agreement and
any other Loan Document are true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct in all material respects (and in all respects if any such representation
or warranty is already qualified by materiality) as of such earlier date.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;3.
</B></FONT><U>Conditions of Effectiveness of this Amendment</U>. This Amendment shall become effective as of the date on which the following
conditions shall have been satisfied (or waived) (the &ldquo;<U>Amendment Effective Date</U>&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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Lender (or its counsel) shall have received counterparts to this Amendment, duly executed by the Borrower and the other Loan Parties;
and</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Borrower shall have paid or shall pay on the Amendment Effective Date all costs, fees and expenses required to be paid pursuant to <U>Section&nbsp;7</U>
hereof and Section&nbsp;11.04 of the Credit Agreement, including, without limitation, fees and expenses of Willkie Farr&nbsp;&amp; Gallagher
LLP, counsel to the Lender.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;4.
</B></FONT><U>Reference to and Effect on the Credit Agreement and the other Loan Documents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
and after the Amendment Effective Date, each reference in the Credit Agreement to &ldquo;this Agreement,&rdquo; &ldquo;hereunder,&rdquo;
 &ldquo;hereof&rdquo; or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended by this Amendment.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Credit Agreement, as specifically amended by this Amendment, and each of the other Loan Documents are and shall continue to be in full
force and effect and are hereby in all respects ratified and confirmed.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of the Lender under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.
On and after the Amendment Effective Date, this Amendment shall for all purposes constitute a Loan Document.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">This
Amendment shall not extinguish the Loans or any other Obligations outstanding under the Credit Agreement. Nothing contained herein shall
be construed as a substitution or novation of the Loans or any other Obligations outstanding under the Credit Agreement, which shall remain
outstanding after the Amendment Effective Date as modified hereby.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Loan Parties expressly acknowledge and agree that (i)&nbsp;there has not been, and this Amendment does not constitute or establish, a
novation with respect to the Credit Agreement or any other Loan Document, or a mutual departure from the strict terms, provisions, and
conditions thereof and (ii)&nbsp;nothing in this Amendment shall affect or limit the Lender&rsquo;s right to demand payment of liabilities
owing from the Loan Parties to the Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit
Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan
Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence and continuance
of an Event of Default under the Credit Agreement or the other Loan Documents.</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; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;5.
</B></FONT><U>Reaffirmation</U>. Each Loan Party hereby reaffirms its obligations under the Credit Agreement and each other Loan Document
to which it is a party, in each case as amended by this Amendment and acknowledges and agrees that the grants of security interests by
and the guarantees of the Loan Parties contained in the Loan Documents are, and shall remain, in full force and effect immediately after
giving effect to this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;6.
</B></FONT><U>Execution in Counterparts; Electronic Signatures</U>. This Amendment may be executed by one or more of the parties to this
Amendment on any number of separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts
taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page&nbsp;of this Amendment
by facsimile or other electronic transmission (e.g. &ldquo;pdf&rdquo; or &ldquo;tif&rdquo; format) shall be effective as delivery of a
manually executed counterpart hereof. The words &ldquo;execution&rdquo;, &ldquo;execute&rdquo;, &ldquo;signed&rdquo;, &ldquo;signature&rdquo;
and words of like import in or related to this Amendment or any other document to be signed in connection with this Amendment and the
transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract
formations on electronic platforms approved by the Lender, or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the
case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act; <U>provided</U> that notwithstanding anything contained herein to the contrary the Lender is under no obligation to
agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Lender pursuant to procedures approved
by it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;7.
</B></FONT><U>Costs and Expenses</U>. The Borrower agrees to reimburse the Lender for its reasonable out of pocket expenses in connection
with this Amendment, including the reasonable fees, charges and disbursements of Willkie Farr&nbsp;&amp; Gallagher LLP, counsel for the
Lender, in each case, to the extent that an invoice that sets forth such costs and expense in reasonable detail has been provided to the
Borrower in accordance with Section&nbsp;11.04 of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;8.
</B></FONT><U>Governing Law; Consent to Jurisdiction; Service of Process and Venue; Waiver of Jury Trial, Etc</U>. The provisions of Sections
11.09 (<I>GOVERNING LAW</I>), 11.10 (<I>CONSENT TO JURISDICTION; SERVICE OF PROCESS AND VENUE</I>) and 11.11 (<I>WAIVER OF JURY TRIAL,&nbsp;ETC.</I>)
of the Credit Agreement are hereby incorporated in this Amendment, <I>mutatis mutandis</I>, and shall have the same effect as if this
Amendment were a part of the Credit 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-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><B>SECTION&nbsp;9.
</B></FONT><U>Headings</U>. The section headings used in this Amendment are included herein for convenience of reference only and shall
not constitute a part of this Amendment for any other purpose, be given any substantive effect, affect the construction hereof or be taken
into consideration in the interpretation 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; text-align: center">[<I>Signature Pages&nbsp;Follow</I>]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed by their respective signatories thereunto duly authorized, as of the date first above
written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>ARMATA PHARMACEUTICALS,&nbsp;INC.,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Borrower</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/
    Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3J THERAPEUTICS,&nbsp;INC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/
    Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>C3 JIAN, LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Guarantor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/
    Deborah Birx&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&#8239;Deborah Birx, M.D.&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#8239;Chief Executive Officer&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Fourth Amendment to Secured
Convertible Credit and 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"></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="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>INNOVIVA STRATEGIC OPPORTUNITIES LLC,</B></FONT><FONT STYLE="font-size: 10pt"><BR>
as Lender</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: Innoviva,&nbsp;Inc. (its managing member)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%">/s/
    Pavel Raifeld&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Pavel Raifeld</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Fourth Amendment to Secured
Convertible Credit and Security Agreement]</P>

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

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

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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase"><B>Exhibit&nbsp;99.1</B></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; text-align: center"><B>Armata Pharmaceuticals Announces $10 Million
Secured Credit Agreement with Innoviva</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: center"><I>Proceeds to be used to continue to advance development
of Armata&rsquo;s phage product candidates</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LOS ANGELES, Calif., March&nbsp;12, 2025 -- Armata
Pharmaceuticals,&nbsp;Inc. (NYSE American: ARMP) (&ldquo;Armata&rdquo; or the &ldquo;Company&rdquo;), a clinical-stage biotechnology company
focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat
bacterial infections, today announced that it has entered into a secured credit agreement with Innoviva Strategic Opportunities LLC, a
wholly-owned subsidiary of Innoviva,&nbsp;Inc. (Nasdaq: INVA) (collectively, &ldquo;Innoviva&rdquo;), Armata&rsquo;s largest shareholder.
The gross proceeds to be received by the Company at closing are $10 million before deducting transaction-related expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Proceeds from the new financing transaction will
be used to advance the Company&rsquo;s lead therapeutic phage candidates, including AP-PA02 and AP-SA02, which target infections caused
by <I>Pseudomonas aeruginosa</I> and <I>Staphylococcus aureus</I>, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Innoviva continues to be an instrumental
partner to Armata in support of our mission, the clinical development of our two lead phage cocktails, AP-PA02 and AP-SA02, and our committed
team,&rdquo; stated Dr.&nbsp;Deborah Birx, Chief Executive Officer of Armata. &ldquo;This financing will enable Armata to readout its
Phase 1b/2a trial in acute <I>Staphylococcus aureus </I>bacteremia, which represents the first clinical trial for AP-SA02, and to prepare
the Company for an end-of-Phase 2 meeting with the FDA in support of further clinical inquiry including a potential pivotal trial. I would
like to thank the Innoviva team for their continued support. We are continuing to pursue additional sources of funding, including non-dilutive
sources, to support our late-stage clinical trials.&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; text-align: justify">The secured credit agreement provides for a secured
term loan facility in an aggregate amount of $10 million at an interest rate of 14.0% per annum with a maturity date of March&nbsp;12,
2026.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and Innoviva also entered into amendments
to the three credit and security agreements previously entered into, in order to, among other things, extend the maturity dates under
such agreements to March&nbsp;12, 2026.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Armata Pharmaceuticals,&nbsp;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; text-align: justify">Armata is a clinical-stage biotechnology company
focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat
bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural
and synthetic phage candidates, including clinical candidates for <I>Pseudomonas aeruginosa</I>, <I>Staphylococcus aureus</I>, and other
pathogens. Armata is committed to advancing phage therapy with drug development expertise that spans bench to clinic including in-house
phage-specific cGMP manufacturing to support full commercialization.</P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm258929d1_ex99-1img001.jpg" ALT=""></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication contains &ldquo;forward-looking&rdquo;
statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events, results or to
Armata&rsquo;s future financial performance and involve known and unknown risks, uncertainties and other factors which may cause Armata&rsquo;s
actual results, performance or events to be materially different from any future results, performance or events expressed or implied by
the forward-looking statements. In some cases, you can identify these statements by terms such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;could,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo;
 &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; &ldquo;would&rdquo; or the negative of those terms,
and similar expressions. These forward-looking statements reflect management&rsquo;s beliefs and views with respect to future events and
are based on estimates and assumptions as of the date of this communication and are subject to risks and uncertainties including risks
related to Armata&rsquo;s development of bacteriophage-based therapies; ability to staff and maintain its production facilities under
fully compliant current Good Manufacturing Practices; ability to meet anticipated milestones in the development and testing of the relevant
product; ability to be a leader in the development of phage-based therapeutics; ability to achieve its vision, including improvements
through engineering and success of clinical trials; ability to successfully complete preclinical and clinical development of, and obtain
regulatory approval of its product candidates and commercialize any approved products on its expected timeframes or at all; and Armata&rsquo;s
estimates regarding anticipated operating losses, capital requirements and needs for additional funds. Additional risks and uncertainties
relating to Armata and its business can be found under the caption &ldquo;Risk Factors&rdquo; and elsewhere in Armata&rsquo;s filings
and reports with the SEC, including in Armata&rsquo;s Annual Report on Form&nbsp;10-K, filed with the SEC on March&nbsp;21, 2024, and
in its subsequent filings with the SEC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Armata expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Armata&rsquo;s
expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.</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>Media Contacts:</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"><B>At Armata:</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ir@armatapharma.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">310-665-2928 x234</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>Investor Relations:</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">jallaire@lifesciadvisors.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">212-915-2569</P>

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

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

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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>9
<FILENAME>armp-20250312_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.0.1</span><table class="report" border="0" cellspacing="2" id="idm45755528130512">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Mar. 12, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar. 12,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-37544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ARMATA PHARMACEUTICALS, INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000921114<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">91-1549568<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">WA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">5005 McConnell Avenue,<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Los Angeles<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">90066<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">310<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">655-2928<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ARMP<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSEAMER<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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