<SEC-DOCUMENT>0001171843-20-008795.txt : 20201229
<SEC-HEADER>0001171843-20-008795.hdr.sgml : 20201229
<ACCEPTANCE-DATETIME>20201229170511
ACCESSION NUMBER:		0001171843-20-008795
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20201221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201229
DATE AS OF CHANGE:		20201229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTHERN TECHNOLOGIES INTERNATIONAL CORP
		CENTRAL INDEX KEY:			0000875582
		STANDARD INDUSTRIAL CLASSIFICATION:	COATING, ENGRAVING & ALLIED SERVICES [3470]
		IRS NUMBER:				410857886
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11038
		FILM NUMBER:		201423155

	BUSINESS ADDRESS:	
		STREET 1:		4201 WOODLAND ROAD
		STREET 2:		PO BOX 69
		CITY:			CIRCLE PINES
		STATE:			MN
		ZIP:			55014
		BUSINESS PHONE:		(763) 225-6601

	MAIL ADDRESS:	
		STREET 1:		4201 WOODLAND ROAD
		STREET 2:		PO BOX 69
		CITY:			CIRCLE PINES
		STATE:			MN
		ZIP:			55014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTHERN INSTRUMENTS CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_122920.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="text-underline-style: double"><B><U>&#9;</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: none"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">__________________</P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><B>FORM 8-K</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><B>CURRENT REPORT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Pursuant to Section 13 OR 15(d) of The Securities Exchange Act
of 1934</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">__________________</P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Date of Report (Date of earliest event reported): <B>December 21,
2020</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">___________________</P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; text-transform: uppercase; text-align: center; margin: 0pt 0"><B>NORTHERN TECHNOLOGIES INTERNATIONAL
CORPORATION</B></P>

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 33%"><B>Delaware</B></TD>
    <TD STYLE="text-align: center; width: 34%"><B>001-11038</B></TD>
    <TD STYLE="text-align: center; width: 33%"><B>41-0857886</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="text-align: center">(Commission</TD>
    <TD STYLE="text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">of incorporation)</TD>
    <TD STYLE="text-align: center">File Number)</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 50%"><P STYLE="margin-top: 0; margin-bottom: 0"><B>4201 Woodland Road</B></P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0"><B>P.O. Box 69</B></P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0"><B>Circle Pines, Minnesota</B></P></TD>
    <TD STYLE="text-align: center; width: 50%"><P STYLE="margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0"><B>55014</B></P></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B>(763) 225-6600</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Registrant&rsquo;s telephone number, including area code)</P>

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Not Applicable</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Former name or former address, if changed since last report.)</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&#9744; <FONT STYLE="font-size: 10pt">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&#9744; <FONT STYLE="font-size: 10pt">Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&#9744;<FONT STYLE="font-size: 10pt"> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&#9744; <FONT STYLE="font-size: 10pt">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 42%; border: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 38%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Common stock, par value $0.02 per share</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">NTIC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Nasdaq Global Market</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (&sect;240.12b-2 of this chapter).</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">Emerging growth company &#9744;</FONT></P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-size: 10pt">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. &#9744;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 7in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 7in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 7in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">On December 21, 2020, Northern Technologies
International Corporation (the &ldquo;Company&rdquo;) and PNC Bank, National Association (&ldquo;PNC Bank&rdquo;) entered into
an amendment (the &ldquo;Amendment&rdquo;) to the loan agreement dated as of January 10, 2011 between the Company and PNC Bank,
as amended (as amended, the &ldquo;Loan Agreement&rdquo;) relating to the Company&rsquo;s $3,000,000 revolving line of credit with
PNC Bank (the &ldquo;Line of Credit&rdquo;) and the Company issued an amended and restated promissory note thereunder (the &ldquo;Amended
Note&rdquo;). Pursuant to these amendments:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the rate at which amounts outstanding under the Line of Credit bear interest was revised to equal
(i)(A) a per annum rate equal to the London Interbank Offered Rate (&ldquo;LIBOR&rdquo;) for a one month period determined and
applied each business day until the next business date, or if greater (B) 75 basis points (0.75%), plus (ii) 325 basis points (3.25%);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a provision was added to include a mechanism for determining an alternative rate of interest
                                                               in the event LIBOR is no longer available or in certain other circumstances which are determined to make using an alternative
                                                               rate desirable;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the maturity date of the Line of Credit was extended to January 7, 2022;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the fixed charge coverage ratio financial covenant was revised to be required to be maintained
only as of the end of each fiscal year at a ratio of 1.10:1.0, the same ratio as previously in effect. The definition of &ldquo;Fixed
Charge Coverage Ratio&rdquo; was amended to delete the effects of changes to paid-in capital on stockholders&rsquo; equity and
delete references to payments under all capital leases. The related definition of &ldquo;EBITDA&rdquo; was amended to delete the
effect of non-cash reductions or increases in net income and the related definition of &ldquo;Current Maturities&rdquo; was amended
to delete the reference to the phrase &ldquo;as current maturities&rdquo;; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the automatic sweep by PNC Bank of the Company&rsquo;s checking account and the automatic advance
from the Line of Credit to the Company&rsquo;s checking account were terminated.</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">Except as described above, the other material
terms of the Line of Credit and Loan Agreement with PNC Bank and other related documents were not affected by the foregoing described
amendments.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The foregoing description is qualified in its
entirety by reference to the Amendment and Amended Note, copies of which are filed as exhibits to this Current Report on Form 8-K
and incorporated by reference herein.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2.03</B></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
of a Registrant.</B></TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">The information set forth above in Item 1.01
is incorporated by reference herein.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits</I>.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">
        <P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>Exhibit No.</B></P></TD>
    <TD STYLE="width: 90%">
        <P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; text-indent: 0in"><A HREF="exh_101.htm">10.1</A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="exh_101.htm">Amendment to Loan Documents dated as of December 21, 2020 by and between Northern Technologies International Corporation and PNC Bank, National Association (filed herewith)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; text-indent: 0in"><A HREF="exh_102.htm">10.2</A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="exh_102.htm">Amended and Restated Revolving Line of Credit Note dated as of December 21, 2020 issued by Northern Technologies International Corporation to PNC Bank, National Association (filed herewith)</A></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font-size: 10pt; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2"><B>NORTHERN TECHNOLOGIES</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2"><B>INTERNATIONAL CORPORATION</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Matthew C. Wolsfeld</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Matthew C. Wolsfeld</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><I>&nbsp;</I></TD>
    <TD><I>&nbsp;</I></TD>
    <TD COLSPAN="2"><I>Chief Financial Officer and Corporate Secretary</I></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Date: December 29, 2020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

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

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 78%"><P STYLE="font-size: 18pt; text-align: justify; margin: 0pt 0"><B>Amendment
to Loan Documents</B></P>

</TD>
    <TD STYLE="text-align: right; width: 22%"><IMG SRC="pnc.jpg" ALT="" STYLE="height: 51px; width: 150px"></TD></TR>
</TABLE>

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

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><FONT STYLE="font-size: 18pt"></FONT></B></P>

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

<P STYLE="font-size: 18pt; margin: 0pt 0"></P>

<P STYLE="text-align: right; font-size: 18pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>THIS AMENDMENT TO LOAN DOCUMENTS</B> (this
&ldquo;<B>Amendment</B>&rdquo;) is made as of December 21, 2020, by and between <B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B>
(the &ldquo;<B>Borrower</B>&rdquo;) (the &ldquo;<B>Borrower</B>&rdquo;), and PNC BANK, NATIONAL ASSOCIATION (the &ldquo;<B>Bank</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; margin: 0pt 0">BACKGROUND</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Borrower or another obligor has executed and delivered to the Bank (or a predecessor which is now known by the Bank&rsquo;s
name as set forth above), one or more promissory notes, letter agreements, loan agreements, security agreements, mortgages, pledge
agreements, collateral assignments, and other agreements, instruments, certificates and documents, some or all of which are more
fully described on attached Exhibit A, which is made a part of this Amendment (collectively as amended from time to time, the &ldquo;<B>Loan
Documents</B>&rdquo;) which evidence or secure some or all of the indebtedness and other obligations of the Borrower to the Bank
for one or more loans or other extensions of credit (as used herein, collectively, together with the Obligations, if and as defined
in the Loan Documents, the &ldquo;<B>Obligations</B>&rdquo;). Any initially capitalized terms used in this Amendment without definition
shall have the meanings assigned to those terms in the Loan Documents.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Borrower and the Bank desire to amend the Loan Documents as provided for in this Amendment.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>NOW, THEREFORE</B>, in consideration of the
mutual covenants herein contained and intending to be legally bound hereby, the parties hereto agree as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Certain of the Loan Documents are amended as set forth in Exhibit A. Any and all references to any Loan Document in any
other Loan Document shall be deemed to refer to such Loan Document as amended by this Amendment. This Amendment is deemed incorporated
into each of the Loan Documents. To the extent that any term or provision of this Amendment is or may be inconsistent with any
term or provision in any Loan Document, the terms and provisions of this Amendment shall control.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Borrower hereby certifies that: (a) all of its representations and warranties in the Loan Documents, as amended by this
Amendment, are, except as may otherwise be stated in this Amendment: (i) true and correct as of the date of this Amendment, (ii)
ratified and confirmed without condition as if made anew, and (iii) incorporated into this Amendment by reference, (b) no Event
of Default or event which, with the passage of time or the giving of notice or both, would constitute an Event of Default, exists
under any Loan Document which will not be cured by the execution and effectiveness of this Amendment, (c) no consent, approval,
order or authorization of, or registration or filing with, any third party is required in connection with the execution, delivery
and carrying out of this Amendment or, if required, has been obtained, and (d) this Amendment has been duly authorized, executed
and delivered so that it constitutes the legal, valid and binding obligation of the Borrower, enforceable in accordance with its
terms. The Borrower confirms that the Obligations remain outstanding without defense, set off, counterclaim, discount or charge
of any kind as of the date of this Amendment.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Borrower hereby confirms that any collateral for the Obligations, including liens, security interests, mortgages, and
pledges granted by the Borrower or third parties (if applicable), shall continue unimpaired and in full force and effect, and shall
cover and secure all of the Borrower&rsquo;s existing and future Obligations to the Bank, as modified by this Amendment.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As a condition precedent to the effectiveness of this Amendment, the Borrower shall comply with the terms and conditions
(if any) specified in Exhibit A.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To induce the Bank to enter into this Amendment, the Borrower waives and releases and forever discharges the Bank and its
officers, directors, attorneys, agents, and employees from any liability, damage, claim, loss or expense of any kind that it may
have against the Bank or any of them arising out of or relating to the Obligations. The Borrower further agrees to indemnify and
hold the Bank and its officers, directors, attorneys, agents and employees harmless from any loss, damage, judgment, liability
or expense (including attorneys&rsquo; fees) suffered by or rendered against the Bank or any of them on account of any claims arising
out of or relating to the Obligations. The Borrower further states that it has carefully read the foregoing release and indemnity,
knows the contents thereof and grants the same as its own free act and deed.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Amendment may be signed in any number of counterpart copies and by the parties to this Amendment on separate counterparts,
but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this
Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart. Upon written request by
the other party (which may be made by electronic mail), any party so executing this Amendment by facsimile transmission shall promptly
deliver a manually executed counterpart, provided that any failure to do so shall not affect the validity of the counterpart executed
by facsimile transmission.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any other provision herein or in the other Loan Documents, the Borrower agrees that this Amendment, the
Loan Documents, any other amendments thereto and any other information, notice, signature card, agreement or authorization related
thereto (each, a &ldquo;<B>Communication</B>&rdquo;) may, at the Bank&rsquo;s option, be in the form of an electronic record. Any
Communication may, at the Bank&rsquo;s option, be signed or executed using electronic signatures. For the avoidance of doubt, the
authorization under this paragraph may include, without limitation, use or acceptance by the Bank of a manually signed paper Communication
which has been converted into electronic form (such as scanned into PDF format) for transmission, delivery and/or retention. The
Borrower and the Bank acknowledge and agree that the methods for delivering Communications, including notices, under the Loan Documents
include electronic transmittal to any electronic address provided by either party to the other party from time to time.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Bank may modify this Amendment for the purposes of completing missing content or correcting erroneous content, without
the need for a written amendment, provided that the Bank shall send a copy of any such modification to the Borrower (which notice
may be given by electronic mail).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Amendment will be binding upon and inure to the benefit of the Borrower and the Bank and their respective heirs, executors,
administrators, successors and assigns.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Amendment will be interpreted and the rights and liabilities of the parties hereto determined in accordance with the
laws of the State identified in and governing the Loan Documents that are being amended hereby (the &ldquo;<B>State</B>&rdquo;),
excluding its conflict of laws rules, including without limitation the Electronic Transactions Act (or equivalent) in such State
(or, to the extent controlling, the laws of the United States of America, including without limitation the Electronic Signatures
in Global and National Commerce Act). This Amendment has been delivered to and accepted by the Bank and will be deemed to be made
in the State.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as amended hereby, the terms and provisions of the Loan Documents remain unchanged, are and shall remain in full
force and effect unless and until modified or amended in writing in accordance with their terms, and are hereby ratified and confirmed.
Except as expressly provided herein, this Amendment shall not constitute an amendment, waiver, consent or release with respect
to any provision of any Loan Document, a waiver of any default or Event of Default under any Loan Document, or a waiver or release
of any of the Bank&rsquo;s rights and remedies (all of which are hereby reserved). <B>The Borrower expressly ratifies and confirms
the confession of judgment (if applicable) and dispute resolution, waiver of jury trial or arbitration provisions, as applicable,
contained in the Loan Documents, all of which are incorporated herein by reference.</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>The Borrower hereby irrevocably authorizes any attorney-at-law, including an attorney employed by or retained and paid
by the Bank, to appear in any court of record in or of the State of Ohio, or in any other state or territory of the United States,
at any time after the indebtedness evidenced by the Loan Documents becomes due, whether by acceleration or otherwise, to waive
the issuing and service of process and to confess a judgment against the Borrower in favor of the Bank, and/or any assignee or
holder thereof for the amount of principal and interest and expenses then appearing due from the Borrower under the Loan Documents,
together with costs of suit and thereupon to release all errors and waive all right of appeal or stays of execution in any court
of record. The Borrower hereby expressly (i) waives any conflict of interest of the attorney(s) retained by the Bank to confess
judgment against the Borrower upon the Loan Documents, and (ii) consents to the receipt by such attorney(s) of a reasonable legal
fee from the Bank for legal services rendered for confessing judgment against the Borrower upon the Loan Documents. A copy of this
Amendment, certified by the Bank, may be filed in each such proceeding in place of filing the original as a warrant of attorney</B>.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P><P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B></B></P><P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Form 17A &ndash; Multistate Rev. 11/20</B></P><P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">&nbsp;</P><P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right"><B></B></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>WITNESS</B> the due execution of this Amendment
as a document under seal as of the date first written above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt; border: Black 1.5pt double">

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><U>WARNING&mdash;BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT
TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND
THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED
GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE</U>.</B></P>

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

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

</DIV>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4"><P STYLE="margin: 0pt 0; font-size: 10pt"><B>NORTHERN TECHNOLOGIES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>INTERNATIONAL CORPORATION</B></P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Matthew Wolsfeld</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Matthew Wolsfeld, Chief Financial Officer</TD>
    <TD>(SEAL)</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-size: 10pt"><B>PNC BANK, NATIONAL ASSOCIATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Yelena Spadafora</TD>
    <TD STYLE="border-bottom: Black 1pt solid">(SEAL)</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-size: 10pt">Yelena Spadafora, Senior Vice President</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">EXHIBIT A TO</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">AMENDMENT TO LOAN DOCUMENTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">DATED AS OF DECEMBER 21, 2020</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify"><B><U>Loan Documents</U></B>. The &ldquo;Loan Documents&rdquo; that are the subject of this Amendment
include the following (as each of such documents has been amended, modified or otherwise supplemented previously):</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">$3,000,000.00 Amended and Restated Committed Line of Credit Note, dated January 10, 2011, executed
and delivered to the Bank by the Borrower (the &ldquo;<B>Existing Note</B>&rdquo;)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Working Cash&reg;, Line of Credit, Investment Sweep Rider, dated January 10, 2011, between the
Borrower and the Bank (the &ldquo;<B>Sweep Rider</B>&rdquo;)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Loan Agreement, dated January 10, 2011, between the Borrower and the Bank (the &ldquo;<B>Loan Agreement</B>&rdquo;)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Amendment to Loan Documents, dated January 6, 2016, between the Borrower and the Bank</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">All other documents, instruments, agreements, and certificates executed and delivered in connection
with the Loan Documents listed in this Section A.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify"><B><U>Amendment(s)</U></B>. The Loan Documents are amended as follows:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><B><U>Restated Note</U></B>. Concurrently with the execution and delivery of this Amendment, the
Borrower shall execute and deliver to the Bank an amended and restated note (the &ldquo;<B>Restated Note</B>&rdquo;) evidencing
the line of credit in the original principal amount of $3,000,000.00, in form and substance satisfactory to the Bank. Upon receipt
by the Bank of the Restated Note, the Existing Note shall be canceled; the loan evidenced by the Existing Note (the &ldquo;<B>Existing
Loan</B>&rdquo;) and all accrued and unpaid interest on the Existing Note shall thereafter be evidenced by the Restated Note; and
all references to the promissory note evidencing the Existing Loan in any documents relating thereto, howsoever named, shall thereafter
be deemed to refer to the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no
way extinguish the Borrower&rsquo;s unconditional obligation to repay all indebtedness, including accrued and unpaid interest,
evidenced by the Existing Note.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Bank hereby notifies the Borrower that, pursuant to Section 8 of the Line of Credit Investment
Sweep Rider (the &ldquo;<B>Sweep Rider</B>&rdquo;), the Bank has elected to terminate the Sweep Rider effective as of the date
of this Amendment. As a result of such termination, the Bank will no longer automatically sweep any available balance in your checking
account number 4600132128 into the investment vehicle. Further, the Line of Credit will not automatically be activated to advance
funds to your checking account, and any checks written in excess of available funds are subject to being returned. In furtherance
of the foregoing, Section 1.1.1 of the Loan Agreement is hereby deleted in its entirety.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Section (1) of the Financial Covenants section of the Addendum to the Loan Agreement is hereby
amended and restated in its entirety to read as follows:</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&ldquo;(1)&#9;The Borrower will maintain as of the end of
each fiscal year, a Fixed Charge Coverage Ratio of at least 1.10 to 1.00.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">As used herein:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&ldquo;<B>Current Maturities</B>&rdquo; means the scheduled
payments of principal on all indebtedness for borrowed money having an original term of more than one year (including but not limited
to amortization of capital or finance lease obligations), as shown on the Borrower&rsquo;s Financial Statements as of one year
prior to the date of determination.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&ldquo;<B>EBITDA</B>&rdquo; means net income <U>plus</U>
interest expense <U>plus</U> income tax expense <U>plus</U> depreciation plus amortization.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&ldquo;<B>Fixed Charge Coverage Ratio</B>&rdquo; means (i)
EBITDA, <U>divided by</U> (ii) the sum of Current Maturities <U>plus</U> interest expense <U>plus</U> cash taxes paid <U>plus</U>
dividends plus Unfunded Capital Expenditures.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&ldquo;<B>Unfunded Capital Expenditures</B>&rdquo; means
capital expenditures made from the Borrower&rsquo;s funds other than funds borrowed as term debt to finance such capital expenditures.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">The following two provisions are hereby added to the Loan Agreement:</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&ldquo;<B><U>Beneficial Owners</U></B>.
If the Borrower is or was required to execute and deliver to the Bank a Certification of Beneficial Owner(s) (individually and
collectively, as updated from time to time, the &ldquo;<B>Certification of Beneficial Owners</B>&rdquo;), the Borrower hereby represents
and warrants that the information in the Certification of Beneficial Owners, as updated from time to time in accordance with this
Agreement, is true, complete and correct as of the date thereof, as of the date hereof and as of the date any such update is delivered
to the Bank. The Borrower acknowledges and agrees that the Certification of Beneficial Owners is a Loan Document.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&ldquo;<B><U>Certification of Beneficial
Owners and Other Additional Information</U></B>. The Borrower agrees that until all Obligations have been paid in full and any
commitments of the Bank to the Borrower have been terminated, the Borrower will provide: (i) such information and documentation
as may reasonably be requested by the Bank from time to time for purposes of compliance by the Bank with applicable laws (including
without limitation the USA Patriot Act and other &ldquo;know your customer&rdquo; and anti-money laundering rules and regulations),
and any policy or procedure implemented by the Bank to comply therewith and (ii) if the Borrower is or was required to deliver
a Certification of Beneficial Owners to the Bank, (a) confirmation of the accuracy of the information set forth in the most recent
Certification of Beneficial Owners provided to the Bank, as and when requested by the Bank; and (b) a new Certification of Beneficial
Owners in form and substance acceptable to the Bank when the individual(s) identified as a controlling party and/or a direct or
indirect individual owner on the most recent Certification of Beneficial Owners provided to the Bank have changed.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 1in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0 0pt 1in; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">C.</TD><TD STYLE="text-align: justify"><B><U>Conditions to Effectiveness of Amendment</U></B>. The Bank&rsquo;s willingness to agree to
the amendments set forth in this Amendment is subject to the prior satisfaction of the following conditions:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Execution by all parties and delivery to the Bank of this Amendment, including the Restated Note.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Payment by the Borrower to the Bank of all fees and expenses required by the Bank in connection
with this Amendment, including without limitation those fees set forth in the Loan Fee Authorization.</TD></TR></TABLE>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">-7-</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Form 17A &ndash; Multistate Rev. 11/20</B></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"></P>

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

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exh_102.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 78%"><P STYLE="font-size: 18pt; text-align: justify; margin: 0pt 0"><B>Amended and Restated</B></P>

<P STYLE="margin: 0pt 0; font-size: 18pt; text-align: justify"><B>Revolving Line of Credit Note</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>(Daily LIBOR)</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

</TD>
    <TD STYLE="text-align: right; width: 22%"><IMG SRC="pnc.jpg" ALT="" STYLE="height: 51px; width: 150px"></TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 18pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left">$3,000,000.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 47%; font-size: 10pt; text-align: right">December 21, 2020</TD></TR>
</TABLE>


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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>FOR VALUE RECEIVED, NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
</B>(the <B>&ldquo;Borrower&rdquo;), </B>with an address at 4201 WOODLAND ROAD, CIRCLE PINES, MINNESOTA 55014-1794, promises to
pay to the order of <B>PNC BANK, NATIONAL ASSOCIATION </B>(the <B>&ldquo;Bank&rdquo;), </B>in lawful money of the United States
of America in immediately available funds at its offices located at 1900 E 9th St, Cleveland, Ohio 44114, or at such other location
as the Bank may designate from time to time, the principal sum of <B>$3,000,000.00 </B>(the <B>&ldquo;Facility&rdquo;) </B>or such
lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding
principal balance from the date hereof, all as provided below.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Revolving Line of Credit Advances.</U></B> This Note evidences a revolving line of credit. The Borrower may borrow,
repay and reborrow hereunder and the Bank may advance and readvance under this Note from time to time (each an &ldquo;advance&rdquo;
and together the &ldquo;advances&rdquo;) until the Expiration Date, subject to the terms and conditions of this Note and the Loan
Documents (as defined below). The <B>&ldquo;Expiration Date&rdquo; </B>shall mean January 07, 2022, or such later date as may be
designated by the Bank by written notice from the Bank to the Borrower. The Borrower acknowledges and agrees that in no event will
the Bank be under any obligation to extend or renew the Facility or this Note beyond the Expiration Date. In no event shall the
aggregate unpaid principal amount of advances under this Note exceed the face amount of this Note.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Interest Rate and Payments.</U></B> Amounts outstanding under this Note will bear interest at a rate per annum which
is at all times equal to the sum of (A) the Daily LIBOR Rate (as defined below) <U>plus</U> (B) 325 basis points (3.25%). Accrued
interest will be due and payable on the 10th day of each month, beginning with the payment due on January 10, 2021. The outstanding
principal balance and any accrued but unpaid interest shall be due and payable on the Expiration Date.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Definitions.</U></B> If the following terms are used in this Note, such terms shall have the meanings set
forth below:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Alternate Rate&rdquo; </B>shall mean the Base
Rate.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Base Rate&rdquo; </B>shall mean the higher of
(A) the Prime Rate, and (B) the sum of the Overnight Bank Funding Rate <U>plus</U> 50 basis points (0.50%). If and when the Base
Rate (or any component thereof) changes, the rate of interest with respect to any amounts hereunder to which the Base Rate applies
will change automatically without notice to the Borrower, effective on the date of any such change.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Business Day&rdquo;</B> shall mean any day other
than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required by law to be closed for business
in Pittsburgh, Pennsylvania.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Daily LIBOR Rate&rdquo;</B> shall mean, for
any day, the rate per annum determined by the Bank by dividing (A) the Published Rate by (B) a number equal to 1.00 <U>minus</U>
the percentage prescribed by the Federal Reserve for determining the maximum reserve requirements with respect to any eurocurrency
fundings by banks on such day; <U>provided, however,</U> if the Daily LIBOR Rate determined as provided above would be less than
75 basis points, then such rate shall be deemed to be 75 basis points. The rate of interest will be adjusted automatically as of
each Business Day based on changes in the Daily LIBOR Rate without notice to the Borrower.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Default Rate&rdquo;</B> shall mean the rate
per annum (based on the actual number of days that principal is outstanding over a year of 360 days) equal to the lesser of (A)
the sum of 3% <U>plus</U> the interest rate otherwise in effect from time to time under this Note and (B) the Maximum Rate.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Maximum Rate&rdquo;</B> shall mean the maximum
rate of interest allowed by applicable law.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Overnight Bank Funding Rate&rdquo;</B> shall
mean, for any day, the rate comprised of both overnight federal funds and overnight Eurocurrency borrowings by U.S.-managed banking
offices of depository institutions, as such composite rate shall be determined by the Federal Reserve Bank of New York <B>(&ldquo;NYFRB&rdquo;),
</B>as set forth on its public website from time to time, and as published on the next succeeding Business Day as the overnight
bank funding rate by the NYFRB (or by such other recognized electronic source (such as Bloomberg) selected by the Bank for the
purpose of displaying such rate); provided, that if such day is not a Business Day, the Overnight Bank Funding Rate for such day
shall be such rate on the immediately preceding Business Day; provided, further, that if such rate shall at any time, for any reason,
no longer exist, a comparable replacement rate determined by the Bank at such time (which determination shall be conclusive absent
manifest error). If the Overnight Bank Funding Rate determined as above would be less than zero, then such rate shall be deemed
to be zero. The rate of interest charged shall be adjusted as of each Business Day based on changes in the Overnight Bank Funding
Rate without notice to the Borrower.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Prime Rate&rdquo;</B> shall mean the rate publicly
announced by the Bank from time to time as its prime rate. The Prime Rate is determined from time to time by the Bank as a means
of pricing some loans to its borrowers. The Prime Rate is not tied to any external rate of interest or index, and does not necessarily
reflect the lowest rate of interest actually charged by the Bank to any particular class or category of customers.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Published Rate&rdquo;</B> shall mean the rate
of interest published each Business Day in the Wall Street Journal &ldquo;Money Rates&rdquo; listing under the caption &ldquo;London
Interbank Offered Rates&rdquo; for a one month period (or, if no such rate is published therein for any reason, then the Published
Rate shall be the eurodollar rate for a one month period as published in another publication selected by the Bank).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Advance Procedures</U>.</B> If permitted by the Bank, a request for advance may be made by telephone or electronic
mail, or delivered in accordance with the Bank&rsquo;s security procedures through any automated platform or electronic service
provided by the Bank, with such confirmation or verification (if any) as the Bank may require in its discretion from time to time.
A request for advance by any Borrower shall be binding upon Borrower, jointly and severally. The Borrower authorizes the Bank to
accept telephonic, email, automated and electronic requests for advances, and the Bank shall be entitled to rely upon the authority
of any person providing such instructions. The Borrower hereby indemnifies and holds the Bank harmless from and against any and
all damages, losses, liabilities, costs and expenses (including reasonable attorneys&rsquo; fees and expenses) which may arise
or be created by the acceptance of such telephonic, email, automated and electronic requests or by the making of such advances.
The Bank will enter on its books and records, which entry when made will be presumed correct, the date and amount of each advance,
as well as the date and amount of each payment made by the Borrower.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Interest Calculation; Maximum Rate</U>.</B> Interest will be calculated based on the actual number of days that principal
is outstanding over a year of 360 days. In no event will the rate of interest hereunder exceed the Maximum Rate. Regardless of
any other provision of this Note or the other Loan Documents, if for any reason the effective interest rate should exceed the Maximum
Rate, the effective interest rate shall be deemed reduced to, and shall be, the Maximum Rate, and (i) the amount which would be
excessive interest shall be deemed applied to the reduction of the principal balance of this Note and not to the payment of interest,
and (ii) if the loan evidenced by this Note has been or is thereby paid in full, the excess shall be returned to the party paying
same, such application to the principal balance of this Note or the refunding of such excess to be a complete settlement and acquittance
thereof.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Alternate LIBOR Rate Provisions</U>.</B> If the Bank determines (which determination shall be final and conclusive)
that, by reason of circumstances affecting the eurodollar market generally, deposits in dollars (in the applicable amounts) are
not being offered to banks in the eurodollar market for the selected term, or adequate means do not exist for ascertaining the
Daily LIBOR Rate, then the Bank shall give notice thereof to the Borrower. Thereafter, until the Bank notifies the Borrower that
the circumstances giving rise to such suspension no longer exist, the interest rate for all amounts outstanding under this Note
shall be equal to the Alternate Rate.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In addition, if, after the date of this Note, the Bank shall determine
(which determination shall be final and conclusive) that any enactment, promulgation or adoption of or any change in any applicable
law, rule or regulation, or any change in the interpretation or administration thereof by a governmental authority, central bank
or comparable agency charged with the interpretation or administration thereof, or compliance by the Bank with any guideline, request
or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful
or impossible for the Bank to make or maintain or fund loans based on the Daily LIBOR Rate, the Bank shall notify the Borrower.
Thereafter, until the Bank notifies the Borrower that the circumstances giving rise to such determination no longer apply, the
interest rate on all amounts outstanding under this Note shall be the Alternate Rate.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The LIBOR Replacement Rider attached to this Note and incorporated
herein by this reference provides a mechanism for determining an alternative rate of interest in the event that the London interbank
offered rate is no longer available or in certain other circumstances. The Bank does not warrant or accept any responsibility for
and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank
offered rate or other rates in the definition of &ldquo;LIBOR&rdquo; or with respect to any alternative or successor rate thereto,
or replacement rate therefor. To the extent that any term or provision of the LIBOR Replacement Rider is or may be inconsistent
with any term or provision in the remainder of this Note or any other Loan Document, the terms and provisions of the LIBOR Replacement
Rider shall control.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Other Payment Terms</U>.</B> If any payment under this Note shall become due on a day other than a Business Day, such
payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest in
connection with such payment. The Borrower hereby authorizes the Bank to charge the Borrower&rsquo;s deposit account at the Bank
for any payment when due under this Note or any other Loan Document. Payments received will be applied to charges, fees and expenses
(including attorneys&rsquo; fees), accrued interest and principal in any order the Bank may choose, in its sole discretion.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 0.05in; font-size: 10pt; text-align: justify; text-indent: 0in">8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Late Payments; Default Rate</U>.</B> If the Borrower fails to make any payment of principal, interest or other amount
coming due pursuant to the provisions of this Note within 15 calendar days of the date due and payable, the Borrower also shall
pay to the Bank a late charge equal to the lesser of 5% of the amount of such payment or $100.00 (the <B>&ldquo;Late Charge&rdquo;).
</B>Such 15-day period shall not be construed in any way to extend the due date of any such payment. Upon maturity, whether by
acceleration, demand or otherwise, and at the Bank&rsquo;s option upon the occurrence of any Event of Default (as hereinafter defined)
and during the continuance thereof, amounts outstanding under this Note shall bear interest at the Default Rate. The Default Rate
shall continue to apply whether or not judgment shall be entered on this Note. Both the Late Charge and the Default Rate are imposed
as liquidated damages for the purpose of defraying the Bank&rsquo;s expenses incident to the handling of delinquent payments, but
are in addition to, and not in lieu of, the Bank&rsquo;s exercise of any rights and remedies hereunder, under the other Loan Documents
or under applicable law, and any fees and expenses of any agents or attorneys which the Bank may employ. In addition, the Default
Rate reflects the increased credit risk to the Bank of carrying a loan that is in default. The Borrower agrees that the Late Charge
and Default Rate are reasonable forecasts of just compensation for anticipated and actual harm incurred by the Bank, and that the
actual harm incurred by the Bank cannot be estimated with certainty and without difficulty.</P>

<P STYLE="margin: 0pt 0 0pt 0.05in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Prepayment</U>.</B> The indebtedness evidenced by this Note may be prepaid in whole or in part at any time without
penalty.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">10.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Increased Costs; Yield Protection</U>.</B> On written demand, together with written evidence of the justification
therefor, the Borrower agrees to pay the Bank all direct costs incurred, any losses suffered or payments made by the Bank as a
result of any Change in Law (hereinafter defined), imposing any reserve, deposit, allocation of capital or similar requirement
(including without limitation, Regulation D of the Board of Governors of the Federal Reserve System) on the Bank, its holding company
or any of their respective assets relative to the Facility. <B>&ldquo;Change in Law&rdquo; </B>means the occurrence, after the
date of this Note, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any governmental
authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by
any governmental authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform
and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on
Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case
pursuant to Basel <B>DI, </B>shall in each case be deemed to be a &ldquo;Change in Law&rdquo;, regardless of the date enacted,
adopted or issued.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">11.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Other Loan Documents</U>.</B> This Note is issued in connection with a letter agreement or loan agreement between
the Borrower and the Bank, dated on or before the date hereof, and the other agreements and documents executed and/or delivered
in connection therewith or referred to therein, the terms of which are incorporated herein by reference (as amended, modified or
renewed from time to time, collectively the <B>&ldquo;Loan Documents&rdquo;), </B>and is secured by the property (if any) described
in the Loan Documents and by any and all mortgages, security agreements, assignments, loan agreements, pledge agreements and other
documents or instruments evidencing a security interest or other lien in favor of the Bank and delivered by the Borrower or by
any third party with reference to indebtedness of the Borrower, whether such documents were previously or are hereafter executed,
and whether given expressly as security for payment of this Note or generally as security for any and all indebtedness of the Borrower
to the Bank. Such documents may be executed contemporaneously with the execution of this Note, or they may be executed and delivered
at another time. Collateral securing other obligations of the Borrower to the Bank may also secure this Note.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">12.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Events of Default</U>.</B> The occurrence of any of the following events will be deemed to be an <B>&ldquo;Event of
Default&rdquo; </B>under this Note: (i) the nonpayment of any principal, interest or other indebtedness under this Note when due;
(ii) the occurrence of any event of default or any default and the lapse of any notice or cure period, or any Obligor&rsquo;s failure
to observe or perform any covenant or other agreement, under or contained in any Loan Document or any other document now or in
the future evidencing or securing any debt, liability or obligation of any Obligor to the Bank; (iii) the filing by or against
any Obligor of any proceeding in bankruptcy, receivership, insolvency, reorganization, liquidation, conservatorship or similar
proceeding (and, in the case of any such proceeding instituted against any Obligor, such proceeding is not dismissed or stayed
within 30 days of the commencement thereof, provided that the Bank shall not be obligated to advance additional funds hereunder
during such period); (iv) any assignment by any Obligor for the benefit of creditors, or any levy, garnishment, attachment or similar
proceeding is instituted against any property of any Obligor held by or deposited with the Bank; (v) a default with respect to
any other indebtedness of any Obligor for borrowed money, if the effect of such default is to cause or permit the acceleration
of such debt; (vi) the commencement of any foreclosure or forfeiture proceeding, execution or attachment against any collateral
securing the obligations of any Obligor to the Bank; (vii) the entry of a final judgment against any Obligor and the failure of
such Obligor to discharge the judgment within 10 days of the entry thereof; (viii)&nbsp;any change in any Obligor&rsquo;s business,
assets, operations, financial condition or results of operations that has or could reasonably be expected to have any material
adverse effect on any Obligor; (ix) any Obligor ceases doing business as a going concern; (x) any representation or warranty made
by any Obligor to the Bank in any Loan Document or any other documents now or in the future evidencing or securing the obligations
of any Obligor to the Bank, is false, erroneous or misleading in any material respect; (xi) if this Note or any guarantee executed
by any Obligor is secured, the failure of any Obligor to provide the Bank with additional collateral if in the Bank&rsquo;s opinion
at any time or times, the market value of any of the collateral securing this Note or any guarantee has depreciated below that
required pursuant to the Loan Documents or, if no specific value is so required, then in an amount deemed material by the Bank;
(xii) the revocation or attempted revocation, in whole or in part, of any guarantee by any Obligor; or (xiii) the death, incarceration,
indictment or legal incompetency of any individual Obligor or, if any Obligor is a partnership or limited liability company, the
death, incarceration, indictment or legal incompetency of any individual general partner or member. As used herein, the term <B>&ldquo;Obligor&rdquo;
</B>means any Borrower and any guarantor of, or any pledgor, mortgagor or other person or entity providing collateral support for,
the Borrower&rsquo;s obligations to the Bank existing on the date of this Note or arising in the future.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Upon the occurrence of an Event of Default: (a) the Bank shall be
under no further obligation to make advances hereunder; (b) if an Event of Default specified in clause (iii) or (iv) above shall
occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder
shall be immediately due and payable without demand or notice of any kind; (c) if any other Event of Default shall occur, the outstanding
principal balance and accrued interest hereunder together with any additional amounts payable hereunder, at the Bank&rsquo;s option
and without demand or notice of any kind, may be accelerated and become immediately due and payable; (d) at the Bank&rsquo;s option,
this Note will bear interest at the Default Rate from the date of the occurrence of the Event of Default; and (e) the Bank may
exercise from time to time any of the rights and remedies available under the Loan Documents or under applicable law.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">13.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Right of Setoff</U>.</B> In addition to all liens upon and rights of setoff against the Borrower&rsquo;s money, securities
or other property given to the Bank by law, the Bank shall have, with respect to the Borrower&rsquo;s obligations to the Bank under
this Note and to the extent permitted by law, a contractual possessory security interest in and a contractual right of setoff against,
and the Borrower hereby grants the Bank a security interest in, and hereby assigns, conveys, delivers, pledges and transfers to
the Bank, all of the Borrower&rsquo;s right, title and interest in and to, all of the Borrower&rsquo;s deposits, moneys, securities
and other property now or hereafter in the possession of or on deposit with, or in transit to, the Bank or any other direct or
indirect subsidiary of The PNC Financial Services Group, Inc., whether held in a general or special account or deposit, whether
held jointly with someone else, or whether held for safekeeping or otherwise, excluding, however, all IRA, Keogh, and trust accounts.
Every such security interest and right of setoff may be exercised without demand upon or notice to the Borrower. Every such right
of setoff shall be deemed to have been exercised immediately upon the occurrence of an Event of Default hereunder without any action
of the Bank, although the Bank may enter such setoff on its books and records at a later time.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">14.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Anti-Money Laundering/International Trade Law Compliance</U>.</B> The Borrower represents, warrants and covenants
to the Bank, as of the date hereof, the date of each advance of proceeds under the Facility, the date of any renewal, extension
or modification of the Facility, and at all times until the Facility has been terminated and all amounts thereunder have been indefeasibly
paid in full, that: (a) no Covered Entity (i) is a Sanctioned Person; (ii) has any of its assets in a Sanctioned Jurisdiction or
in the possession, custody or control of a Sanctioned Person; or (iii) does business in or with, or derives any of its operating
income from investments in or transactions with, any Sanctioned Jurisdiction or Sanctioned Person; (b) the proceeds of the Facility
will not be used to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Jurisdiction
or Sanctioned Person; (c) the funds used to repay the Facility are not derived from any unlawful activity; (d) each Covered Entity
is in compliance with, and no Covered Entity engages in any dealings or transactions prohibited by, any laws of the United States,
including but not limited to any Anti-Terrorism Laws; and (e) no Collateral is or will become Embargoed Property. The Borrower
covenants and agrees that (a) it shall immediately notify the Bank in writing upon the occurrence of a Reportable Compliance Event;
and (b) if, at any time, any Collateral becomes Embargoed Property, in addition to all other rights and remedies available to the
Bank, upon request by the Bank, the Borrower shall provide substitute Collateral acceptable to the Bank that is not Embargoed Property.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">As used herein: <B>&ldquo;Anti-Terrorism Laws&rdquo; </B>means any
laws relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering, or bribery, all
as amended, supplemented or replaced from time to time; <B>&ldquo;Collateral&rdquo; </B>means any collateral securing any debt,
liabilities or other obligations of any Obligor to the Bank; <B>&ldquo;Compliance Authority&rdquo; </B>means each and all of the
(a) U.S. Treasury Department/Office of Foreign Assets Control, (b) U.S. Treasury Department/Financial Crimes Enforcement Network,
(c) U.S. State Department/Directorate of Defense Trade Controls, (d) U.S. Commerce Department/Bureau of Industry and Security,
(e) U.S. Internal Revenue Service, (f) U.S. Justice Department, and (g) U.S. Securities and Exchange Commission; <B>&ldquo;Covered
Entity&rdquo; </B>means the Borrower, its affiliates and subsidiaries, all guarantors, pledgors of collateral, all owners of the
foregoing, and all brokers or other agents of the Borrower acting in any capacity in connection with the Facility; <B>&ldquo;Embargoed
Property&rdquo; </B>means any property (a) in which a Sanctioned Person holds an interest; (b) beneficially owned, directly or
indirectly, by a Sanctioned Person; (c) that is due to or from a Sanctioned Person; (d) that is located in a Sanctioned Jurisdiction;
or (e) that would otherwise cause any actual or possible violation by the Bank of any applicable Anti-Terrorism Law if the Bank
were to obtain an encumbrance on, lien on, pledge of or security interest in such property or provide services in consideration
of such property; <B>&ldquo;Reportable Compliance Event&rdquo; </B>means (1) any Covered Entity becomes a Sanctioned Person, or
is indicted, arraigned, investigated or custodially detained, or receives an inquiry from regulatory or law enforcement officials,
in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or self-discovers facts or circumstances
implicating any aspect of its operations with the actual or possible violation of any Anti-Terrorism Law; (2) any Covered Entity
engages in a transaction that has caused or may cause the Bank to be in violation of any Anti-Terrorism Laws, including a Covered
Entity&rsquo;s use of any proceeds of the Facility to fund any operations in, finance any investments or activities in, or, make
any payments to, directly or indirectly, a Sanctioned Jurisdiction or Sanctioned Person; or (3) any Collateral becomes Embargoed
Property; <B>&ldquo;Sanctioned Jurisdiction&rdquo; </B>means a country subject to a sanctions program maintained by any Compliance
Authority; and <B>&ldquo;Sanctioned Person&rdquo; </B>means any individual person, group, regime, entity or thing listed or otherwise
recognized as a specially designated, prohibited, sanctioned or debarred person or entity, or subject to any limitations or prohibitions
(including but not limited to the blocking of property or rejection of transactions), under any order or directive of any Compliance
Authority or otherwise subject to, or specially designated under, any sanctions program maintained by any Compliance Authority.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">15.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Indemnity</U>.</B> The Borrower agrees to indemnify each of the Bank, each legal entity, if any, who controls, is
controlled by or is under common control with the Bank, and each of their respective directors, officers and employees (the <B>&ldquo;Indemnified
Parties&rdquo;), </B>and to defend and hold each Indemnified Party harmless from and against any and all claims, damages, losses,
liabilities and expenses (including all fees and charges of internal or external counsel with whom any Indemnified Party may consult
and all expenses of litigation and preparation therefor) (each, a <B>&ldquo;Claim&rdquo;) </B>which any Indemnified Party may incur
or which may be asserted against any Indemnified Party by any person, entity or governmental authority (including any person or
entity claiming derivatively on behalf of the Borrower), in connection with or arising out of or relating to the matters referred
to in this Note or in the other Loan Documents or the use of any advance hereunder, whether (a) arising from or incurred in connection
with any breach of a representation, warranty or covenant by the Borrower, or (b) arising out of or resulting from any suit, action,
claim, proceeding or governmental investigation, pending or threatened, whether based on statute, regulation or order, or tort,
or contract or otherwise, before any court or governmental authority; <U>provided</U>, <U>however</U>, that the foregoing indemnity
agreement shall not apply to any Claim that is determined by a court of competent jurisdiction in a final, non-appealable judgment
to have been solely attributable to an Indemnified Party&rsquo;s gross negligence or willful misconduct. The indemnity agreement
contained in this paragraph shall survive the termination of this Note, payment of any advance hereunder and the assignment of
any rights hereunder. The Borrower may participate at its expense in the defense of any such action or claim.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">16.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Miscellaneous</U>.</B> All notices, demands, requests, consents, approvals and other communications required or permitted
hereunder <B>(&ldquo;Notices&rdquo;) </B>must be in writing (except as may be agreed otherwise above with respect to borrowing
requests or as otherwise provided in this Note) and will be effective upon receipt. Notices may be given in any manner to which
the parties may agree. Without limiting the foregoing, first-class mail, postage prepaid, facsimile transmission and commercial
courier service are hereby agreed to as acceptable methods for giving Notices. In addition, the parties agree that Notices may
be sent electronically to any electronic address provided by a party from time to time. Notices may be sent to a party&rsquo;s
address as set forth above or to such other address as any party may give to the other for such purpose in accordance with this
paragraph. No delay or omission on the Bank&rsquo;s part to exercise any right or power arising hereunder will impair any such
right or power or be considered a waiver of any such right or power, nor will the Bank&rsquo;s action or inaction impair any such
right or power. The Bank&rsquo;s rights and remedies hereunder are cumulative and not exclusive of any other rights or remedies
which the Bank may have under other agreements, at law or in equity. No modification, amendment or waiver of, or consent to any
departure by the Borrower from, any provision of this Note will be effective unless made in a writing signed by the Bank, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Notwithstanding the
foregoing, the Bank may modify this Note for the purposes of completing missing content or correcting erroneous content, without
the need for a written amendment, provided that the Bank shall send a copy of any such modification to the Borrower (which notice
may be given by electronic mail). The Borrower agrees to pay on demand, to the extent permitted by law, all costs and expenses
incurred by the Bank in the enforcement of its rights in this Note and in any security therefor, including without limitation reasonable
fees and expenses of the Bank&rsquo;s counsel. If any provision of this Note is found to be invalid, illegal or unenforceable in
any respect by a court, all the other provisions of this Note will remain in full force and effect. The Borrower and all other
makers and indorsers of this Note hereby forever waive presentment, protest, notice of dishonor, notice of non-payment, notice
of intent to accelerate and notice of acceleration, and any other notice of any kind. The Borrower also waives all defenses based
on suretyship or impairment of collateral. If this Note is executed by more than one Borrower, the obligations of such persons
or entities hereunder will be joint and several. This Note shall bind the Borrower and its heirs, executors, administrators, successors
and assigns, and the benefits hereof shall inure to the benefit of the Bank and its successors and assigns; <U>provided</U>, <U>however</U>,
that the Borrower may not assign this Note in whole or in part without the Bank&rsquo;s written consent and the Bank at any time
may assign this Note in whole or in part.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">17.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Governing Law and Venue</U>.</B> This Note has been delivered to and accepted by the Bank and will be deemed to be
made in the State where the Bank&rsquo;s office indicated above is located (the <B>&ldquo;State&rdquo;). THIS NOTE WILL BE INTERPRETED
AND THE RIGHTS AND LIABILITIES OF THE BANK AND THE BORROWER DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE, EXCLUDING ITS
CONFLICT OF LAWS RULES, INCLUDING WITHOUT LIMITATION THE ELECTRONIC TRANSACTIONS ACT (OR EQUIVALENT) IN EFFECT IN THE STATE (OR,
TO THE EXTENT CONTROLLING, THE LAWS OF THE UNITED STATES OF AMERICA, INCLUDING WITHOUT LIMITATION THE ELECTRONIC SIGNATURES IN
GLOBAL AND NATIONAL COMMERCE ACT). </B>The Borrower hereby irrevocably consents to the exclusive jurisdiction of any state or federal
court in the county or judicial district where the Bank&rsquo;s office indicated above is located; provided that nothing contained
in this Note will prevent the Bank from bringing any action, enforcing any award or judgment or exercising any rights against the
Borrower individually, against any security or against any property of the Borrower within any other county, state or other foreign
or domestic jurisdiction. The Borrower acknowledges and agrees that the venue provided above is the most convenient forum for both
the Bank and the Borrower. The Borrower waives any objection to venue and any objection based on a more convenient forum in any
action instituted under this Note.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">18.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Commercial Purpose</U>.</B> The Borrower represents that the indebtedness evidenced by this Note is being incurred
by the Borrower solely for the purpose of acquiring or carrying on a business, professional or commercial activity, and not for
personal, family or household purposes.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">19.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>USA PATRIOT Act Notice</U>.</B> To help the government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify and record information that identifies each Borrower that opens
an account. What this means: when the Borrower opens an account, the Bank will ask for the business name, business address, taxpayer
identifying number and other information that will allow the Bank to identify the Borrower, such as organizational documents. For
some businesses and organizations, the Bank may also need to ask for identifying information and documentation relating to certain
individuals associated with the business or organization.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">20.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Representation by Counsel</U>.</B> The Borrower hereby represents that it has been represented by competent counsel
of its choice, or has knowingly waived its right to use and retain counsel, in the negotiation and execution of this Note and the
other Loan Documents; that it has read and fully understood the terms hereof; that the Borrower and any retained counsel have been
afforded an opportunity to review, negotiate and modify the terms of this Note and the other Loan Documents; and that it intends
to be bound hereby. In accordance with the foregoing, the general rule of construction to the effect that any ambiguities in a
contract are to be resolved against the party drafting the contract shall not be employed in the construction and interpretation
of this Note or any other Loan Document.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">21.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Authorization to Obtain Credit Reports</U>.</B> By signing below, each person, who is signing in his or her individual
capacity, requests and provides written authorization to the Bank or its designee (and any assignee or potential assignee hereof)
to obtain such individual&rsquo;s personal credit profile from one or more national credit bureaus. This authorization extends
to obtaining a credit profile in (i) considering an application for credit that is evidenced, guaranteed or secured by this document,
(ii) assessing creditworthiness and (iii) considering extensions of credit, including on an ongoing basis, as necessary for the
purposes of (a) update, renewal or extension of such credit or additional credit, (b) reviewing, administering or collecting the
resulting account and (c) reporting on the repayment and satisfaction of such credit obligations. By signing below, such individual
further ratifies and confirms his or her prior requests and authorizations with respect to the matters set forth herein. For the
avoidance of doubt, this provision does not apply to persons signing below in their capacities as officers or other authorized
representatives of entities, organizations or governmental bodies.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">22.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Counterparts; Electronic Signatures and Records</U>.</B> This Note and any other Loan Document may be signed in any
number of counterpart copies and by the parties hereto on separate counterparts, but all such copies shall constitute one and the
same instrument. Notwithstanding any other provision herein, the Borrower agrees that this Note, the Loan Documents, any amendments
thereto, and any other information, notice, signature card, agreement or authorization related thereto (each, a <B>&ldquo;Communication&rdquo;)
</B>may, at the Bank&rsquo;s option, be in the form of an electronic record. Any Communication may, at the Bank&rsquo;s option,
be signed or executed using electronic signatures. For the avoidance of doubt, the authorization under this paragraph may include,
without limitation, use or acceptance by the Bank of a manually signed paper Communication which has been converted into electronic
form (such as scanned into PDF format) for transmission, delivery and/or retention.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">23.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Automatic Payment</U>.</B> If due to any act or omission of the Borrower or another Obligor the Bank cannot automatically
deduct payments required under this Note or the other Loan Documents from a deposit account with the Bank (including due to the
Borrower&rsquo;s revocation of its authorization to do so or failure to maintain such deposit account with the Bank or otherwise),
the Bank may, at its option, upon 30 days&rsquo; notice to the Borrower, increase the interest rate payable by the Borrower under
this Note by 25 basis points (0.25%).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">24.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Depository</U>.</B> The Borrower will establish and maintain with the Bank the Borrower&rsquo;s primary depository
accounts. If the Borrower fails to establish and/or maintain its primary depository accounts with the Bank, the Bank may, at its
option, upon 30 days&rsquo; notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to
100 basis points (1.00%). The Bank&rsquo;s right to increase the interest rate pursuant to this paragraph shall be in addition
to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a
waiver, release or limitation upon the Bank&rsquo;s exercise of any such rights or remedies.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">25.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Amendment and Restatement</U>.</B> This Note amends and restates, and is in substitution for, that certain Amended
and Restated Committed Line of Credit Note in the original principal amount of $3,000,000.00 payable to the order of the Bank and
dated January 10, 2011 (the <B>&ldquo;Existing Note&rdquo;). </B>However, without duplication, this Note shall in no way extinguish,
cancel or satisfy Borrower&rsquo;s unconditional obligation to repay all indebtedness evidenced by the Existing Note or constitute
a novation of the Existing Note. Nothing herein is intended to extinguish, cancel or impair the lien priority or effect of any
security agreement, pledge agreement or mortgage with respect to any Obligor&rsquo;s obligations hereunder and under any other
document relating hereto.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">26.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>State-Specific Provisions</U></B>.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Power to Confess Judgment</U>. The Borrower hereby irrevocably authorizes any attorney-at-law, including an attorney
employed by or retained and paid by the Bank, to appear in any court of record in or of the State of Ohio, or in any other state
or territory of the United States, at any time after the indebtedness evidenced by this Note becomes due, whether by acceleration
or otherwise, to waive the issuing and service of process and to confess a judgment against the Borrower in favor of the Bank,
and/or any assignee or holder hereof for the amount of principal and interest and expenses then appearing due from the Borrower
under this Note, together with costs of suit and thereupon to release all errors and waive all right of appeal or stays of execution
in any court of record. The Borrower hereby expressly (i) waives any conflict of interest of the attorney(s) retained by the Bank
to confess judgment against the Borrower upon this Note, and (ii) consents to the receipt by such attorney(s) of a reasonable legal
fee from the Bank for legal services rendered for confessing judgment against the Borrower upon this Note. A copy of this Note,
certified by the Bank, may be filed in each such proceeding in place of filing the original as a warrant of attorney</B>.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">27.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>WAIVER OF JURY TRIAL</U>. <FONT STYLE="text-transform: uppercase">THE BORROWER IRREVOCABLY WAIVES ANY AND ALL
RIGHTS THE BORROWER MAY HAVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS NOTE, ANY DOCUMENTS
EXECUTED IN CONNECTION WITH THIS NOTE OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER ACKNOWLEDGES THAT
THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>The Borrower acknowledges that it has read and understands all
the provisions of this Note, including the confession of judgment and waiver of jury trial, and has been advised by counsel as
necessary or appropriate.</B></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>WITNESS </B>the due execution hereof as a document under seal,
as of the date first written above, with the intent to be legally bound hereby.</P>

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

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

<DIV STYLE="padding: 1pt 4pt; border: Black 1.5pt double">

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><U>WARNING-BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE
AND COURT TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS
OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS,
FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE</U>.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

</DIV>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 10 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><B></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><P STYLE="margin: 0pt 0; font-size: 10pt"><B>NORTHERN TECHNOLOGIES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>INTERNATIONAL CORPORATION</B></P>

</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Matthew Wolsfeld</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Its:</TD>
    <TD>Chief Financial Officer</TD>
    <TD>(SEAL)</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><U>LIBOR REPLACEMENT RIDER</U></B></P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Benchmark Replacement.</U></B> Notwithstanding anything to the contrary herein or in any other Loan Document, if a
Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred
in respect of any setting of the then-current Benchmark, then, (x) if the Benchmark Replacement is determined in accordance with
clause (1) or (2) of the definition of &ldquo;Benchmark Replacement&rdquo; on the Benchmark Replacement Date, such Benchmark Replacement
will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent
Benchmark settings without any amendment or further action or consent of any other party hereto or to any other Loan Document;
and (y) if a Benchmark Replacement is determined in accordance with clause (3) of the definition of &ldquo;Benchmark Replacement&rdquo;
on the Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under
any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (Eastern time) on the fifth (5th) Business Day after
the date notice of such Benchmark Replacement is provided to the Borrower without any amendment hereto or to any other Loan Document,
or further action or consent of the Borrower.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Benchmark Replacement Conforming Changes.</U></B> In connection with the implementation of a Benchmark Replacement,
the Bank will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to
the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will
become effective without any further action or consent of the Borrower.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Notices; Standards for Decisions and Determinations.</U></B> The Bank will promptly notify the Borrower of (i) any
occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related
Benchmark Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement
Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision
or election that may be made by the Bank pursuant to this Rider, including any determination with respect to a rate or adjustment
or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action
or any selection, will be conclusive and binding absent manifest error and may be made in its sole discretion and without consent
from the Borrower.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Benchmark Unavailability Period.</U></B> Upon the Borrower&rsquo;s receipt of notice of the commencement of a Benchmark
Unavailability Period, amounts outstanding hereunder automatically will bear interest at the Fallback Rate. During any Benchmark
Unavailability Period, the component of the Fallback Rate based upon the then-current Benchmark, if any, will not be used in any
determination of the Fallback Rate.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Secondary Term SOFR Conversion.</U></B> Notwithstanding anything to the contrary herein or in any other Loan Document
and subject to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date
have occurred in respect of any setting of the then-current Benchmark, then (i) the applicable Benchmark Replacement will replace
the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting (the <B>&ldquo;Secondary
Term SOFR Conversion Date&rdquo;) </B>and subsequent Benchmark settings, without any amendment or further action or consent of
any other party hereto or to any other Loan Document; and (ii) loans outstanding on the Secondary Term SOFR Conversion Date bearing
interest based on the then-current Benchmark shall be deemed to have been converted to loans bearing interest at the Benchmark
Replacement with a tenor approximately the same length as the interest payment period of the then-current Benchmark; provided that,
(A) this paragraph (e) shall not be effective unless the Bank has delivered to the Borrower a Term SOFR Notice and (B) this paragraph
(e) shall not be effective with respect to the Facility if (I) the Borrower has outstanding an interest rate swap with the Bank
to hedge, in whole or part, the floating rate risk under the Facility on the Secondary Term SOFR Conversion Date, and <B>(II) </B>such
swap incorporates LIBOR fallback provisions with a Daily Simple SOFR rate as the primary alternative fallback rate for USD LIBOR.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Defined Terms</U></B>. As used in this Rider:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Available Tenor&rdquo; </B>means,
as of any date of determination and with respect to the then-current Benchmark, as applicable, one month.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark&rdquo; </B>means, initially,
USD LIBOR; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable,
and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then &ldquo;Benchmark&rdquo;
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate
pursuant to paragraph (a) of this Rider.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0.1in"><B>&ldquo;Benchmark Replacement&rdquo; </B>means
for the Available Tenor the first alternative set forth in the order below that can be determined by the Bank on the applicable
Benchmark Replacement Date; provided, however, if (i) the Borrower has outstanding an interest rate swap with the Bank on the Benchmark
Replacement Date to hedge, in whole or part, the floating rate risk under the Facility, and (ii) such swap incorporates LIBOR fallback
provisions with a Daily Simple SOFR rate as the primary alternative fallback rate for USD LIBOR, then the Benchmark Replacement
alternative set forth in clause (1) below shall not apply to the Facility and the alternative set forth below in clause (2) shall
be the first alternative:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0.1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">the sum of: (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">the sum of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">the sum of: (a) the alternate benchmark rate that has been selected by the Bank as the replacement
for the then-current Benchmark, giving due consideration to (i) any selection or recommendation of a replacement benchmark rate
or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention
for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar-denominated syndicated or bilateral
credit facilities at such time, and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>provided</U> that, in the case of clause (1), such Unadjusted
Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected
by the Bank in its reasonable discretion; <U>provided</U>, <U>further</U>, that, with respect to a Term SOFR Transition Event,
on the applicable Benchmark Replacement Date, the &ldquo;Benchmark Replacement&rdquo; shall revert to and shall be determined as
set forth in clause (1) of this definition, all in accordance with paragraph (e) (Secondary Term SOFR Conversion) above. If the
Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement
will be deemed to be the Floor for the purposes hereof and of the other Loan Documents.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark Replacement Adjustment&rdquo;
</B>means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any setting
of such Unadjusted Benchmark Replacement:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">for purposes of clauses (1) and (2) of the definition of &ldquo;Benchmark Replacement,&rdquo; the
first alternative set forth in the order below that can be determined by the Bank:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the spread adjustment, or method for calculating or determining such spread adjustment, (which
may be a positive or negative value or zero) as of the time such Benchmark Replacement is first set for such Available Tenor that
has been selected or recommended by the Relevant Governmental Body for the replacement of such Available Tenor of such Benchmark
with the applicable Unadjusted Benchmark Replacement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the spread adjustment (which may be a positive or negative value or zero) as of the time such Benchmark
Replacement is first set for such Available Tenor that would apply to the fallback rate for a derivative transaction referencing
the ISDA Definitions to be effective upon an index cessation event with respect to such Available Tenor of such Benchmark; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">for purposes of clause (3) of the definition of &ldquo;Benchmark Replacement,&rdquo; the spread
adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero)
that has been selected by the Bank, giving due consideration to (i) any selection or recommendation of a spread adjustment, or
method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with
the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date
or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated syndicated or bilateral credit facilities;</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>provided</U> that, in the case of clause (1) above, such adjustment
is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as
selected by the Bank in its reasonable discretion.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark Replacement Conforming Changes&rdquo;
</B>means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to
the definition of &ldquo;Base Rate,&rdquo; the definition of &ldquo;Business Day,&rdquo; the timing and frequency of determining
rates and making payments of interest, timing of borrowing requests or prepayment, length of lookback periods, the applicability
of breakage provisions and other technical, administrative or operational matters) that the Bank decides may be appropriate to
reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Bank in a
manner substantially consistent with market practice (or, if the Bank decides that adoption of any portion of such market practice
is not administratively feasible or if the Bank determines that no market practice for the administration of such Benchmark Replacement
exists, in such other manner of administration as the Bank decides is reasonably necessary in connection with the administration
of the Facility and the Loan Documents).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark Replacement Date&rdquo;
</B>means the earliest to occur of the following events with respect to the then-current Benchmark:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">in the case of clause (1) or (2) of the definition of &ldquo;Benchmark Transition Event,&rdquo;
the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the
administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases
to provide the Available Tenor of such Benchmark (or such component thereof);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">in the case of clause (3) of the definition of &ldquo;Benchmark Transition Event,&rdquo; the date
determined by the Bank, which date shall promptly follow the date of the public statement or publication of information referenced
therein;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">in the case of a Term SOFR Transition Event, the date that is set forth in the Term SOFR Notice
provided to the Borrower pursuant to this Rider, which date shall be at least 30 days from the date of the Term SOFR Notice; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of
such Early Opt-in Election is provided to the Borrower.</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark Transition Event&rdquo;
</B>means the occurrence of one or more of the following events with respect to the then-current Benchmark:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">a public statement or publication of information by or on behalf of the administrator of such Benchmark
(or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide
the Available Tenor of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such
statement or publication, there is no successor administrator that will continue to provide the Available Tenor of such Benchmark
(or such component thereof);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">a public statement or publication of information by a Governmental Authority having jurisdiction
over the Bank, the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation
thereof), the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with
jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator
for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator
for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or
will cease to provide the Available Tenor of such Benchmark (or such component thereof) permanently or indefinitely, provided that,
at the time of such statement or publication, there is no successor administrator that will continue to provide such Available
Tenor of such Benchmark (or such component thereof); or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">a public statement or publication of information by the regulatory supervisor for the administrator
of such Benchmark (or the published component used in the calculation thereof) or a Governmental Authority having jurisdiction
over the Bank announcing that the Available Tenor of such Benchmark (or such component thereof) is no longer representative.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->-</P><P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Form 8C (COJ) &ndash; OH Rev. 11/20</B></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Benchmark Unavailability Period&rdquo;
</B>means the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that
definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder
and under any Loan Document in accordance with this Rider, and (y) ending at the time that a Benchmark Replacement has replaced
the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with this Rider.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Daily Simple SOFR&rdquo; </B>means,
for any day, SOFR, with the conventions for this rate (which may include a lookback) being established by the Bank in accordance
with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining &ldquo;Daily Simple
SOFR&rdquo; for business loans; provided, that if the Bank decides that any such convention is not administratively feasible for
the Bank, then the Bank may establish another convention in its reasonable discretion.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Early Opt-in Election&rdquo; </B>means,
if the then-current Benchmark is USD LIBOR, the occurrence of:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">a determination by the Bank that at least five (5) currently outstanding U.S. dollar-denominated
syndicated or bilateral credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based
rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate, and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">the election by the Bank to trigger a fallback from USD LIBOR and the provision by the Bank of
written notice of such election to the Borrower.</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Fallback Rate&rdquo; </B>means the
alternative rate of interest that would have been applicable under the terms of the Facility (absent this Rider) if the Bank had
given notice that USD LIBOR had become unavailable or, if no such alternative rate is specified, the Base Rate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Floor&rdquo; </B>means the minimum
rate of interest, if any, provided under the terms of the Facility with respect to USD LIBOR or, if no minimum rate of interest
is specified, zero.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Governmental Authority&rdquo; </B>means
the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local,
and any agency, authority, instrumentality, regulatory body, court, central bank 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).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;ISDA Definitions&rdquo; </B>means
the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended
or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time
by the International Swaps and Derivatives Association, Inc. or such successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Relevant Governmental Body&rdquo;
</B>means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially
endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor
thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;SOFR&rdquo; </B>means, with respect
to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR
Administrator on the SOFR Administrator&rsquo;s Website on the immediately succeeding Business Day.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->-</P><P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Form 8C (COJ) &ndash; OH Rev. 11/20</B></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;SOFR Administrator&rdquo; </B>means
the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;SOFR Administrator&rsquo;s Website&rdquo;
</B>means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source
for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Term SOFR&rdquo; </B>means, for the
applicable Available Tenor, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental
Body.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Term SOFR Notice&rdquo; </B>means
a notification by the Bank to the Borrower of the occurrence of a Term SOFR Transition Event.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Term SOFR Transition Event&rdquo;
</B>means the determination by the Bank that (1) Term SOFR has been recommended for use by the Relevant Governmental Body, and
is determinable for the Available Tenor, (2) the administration of Term SOFR is administratively feasible for the Bank and (3)
a Benchmark Transition Event has previously occurred resulting in a Benchmark Replacement in accordance with this Rider that is
not Term SOFR.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Unadjusted Benchmark Replacement&rdquo;
</B>means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;USD LIBOR&rdquo; </B>means, for purposes
of this Rider only, any interest rate that is based on the London interbank offered rate for U.S. dollars.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0 0pt 0.1in">LBR 15 (Bilat STD 2020-11 - HW)<BR>
Streamlined</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0 0pt 0.1in">&nbsp;</P>
<P STYLE="margin: 0; text-align: left"><B></B></P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">-17-</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Form 8C (COJ) &ndash; OH Rev. 11/20</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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