<SEC-DOCUMENT>0000950159-16-000425.txt : 20160125
<SEC-HEADER>0000950159-16-000425.hdr.sgml : 20160125
<ACCEPTANCE-DATETIME>20160122191347
ACCESSION NUMBER:		0000950159-16-000425
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160122
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160125
DATE AS OF CHANGE:		20160122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHPRECISION CORP
		CENTRAL INDEX KEY:			0001328792
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED STRUCTURAL METAL PRODUCTS [3440]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51378
		FILM NUMBER:		161357245

	BUSINESS ADDRESS:	
		STREET 1:		992 OLD EAGLE SCHOOL ROAD
		STREET 2:		SUITE 909
		CITY:			WAYNE
		STATE:			PA
		ZIP:			19087
		BUSINESS PHONE:		484-693-1700

	MAIL ADDRESS:	
		STREET 1:		992 OLD EAGLE SCHOOL ROAD
		STREET 2:		SUITE 909
		CITY:			WAYNE
		STATE:			PA
		ZIP:			19087

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Techprecision CORP
		DATE OF NAME CHANGE:	20060309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOUNSBERRY HOLDINGS II INC
		DATE OF NAME CHANGE:	20050531
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tpcs8k.htm
<DESCRIPTION>TECHPRECISION CORPORATION FORM 8-K
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Washington, DC 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM 8-K</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported): <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">January 22, 2016</font></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TECHPRECISION CORPORATION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Exact Name of Registrant as Specified in Charter)</div>

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<div style="TEXT-ALIGN: center"><u>Delaware</u></div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">of Incorporation or Organization)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">992 Old Eagle School Road, Suite 909</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wayne, PA 19087</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Registrant's telephone number, including area code: <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(484) 693-1700</font></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Copies to:</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Scott R. Jones</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pepper Hamilton LLP</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3000 Two Logan Square</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">18<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> and Arch Streets</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Philadelphia, PA 19103-2799</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Phone: (215) 981-4000</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fax: (215) 981-4750</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">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 (see General Instruction A.2. below):</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Entry into a Material Definitive Agreement.</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On January 22, 2016, TechPrecision Corporation (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Company</u></font>") and its wholly owned subsidiary, Ranor, Inc. ("<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Ranor</u></font>"), entered into the Note and Other Loan Documents Modification Agreement No. 2 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Amendment</u></font>") with Revere High Yield Fund, LP ("<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Revere</u></font>"), which amends that certain Term Loan and Security Agreement, dated December 22, 2014 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>TLSA</u></font>") between Ranor and Revere pursuant to which Revere agreed to loan an aggregate of $2.25 million to Ranor.&#160; In connection with the Amendment, Ranor entered into an Amended and Restated Term Loan Note in the aggregate principal amount of $1.5 million (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Note A</u></font>") and an Amended and Restated Term Loan Note in the aggregate principal amount of $750,000 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Note B</u></font>" and together with the Note A, the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Notes</u></font>"), each in favor of Revere and each dated January 22, 2016.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Amendment (a) extends the maturity date of the term loans made pursuant to the TLSA to January 22, 2018, (b) amends the amortization schedule such that payments under the TLSA and Notes are due as follows: (i) payments of interest only on advanced principal on a monthly basis on the first day of each month from March 1, 2016 until January 1, 2017 and (ii) payments of $9,375 in principal plus accrued interest on a monthly basis on the first day of each month from February 1, 2017 until January 22, 2018, (c) reduces the annual interest rate on the unpaid principal balance of the loans to 10% per annum (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Interest Rate</u></font>") from 12% per annum, (d) amends the definition of the "Minimum Guaranteed Interest" payable by Ranor to Revere on the earlier of prepayment in full of the loans or payment in full of the loans on the maturity date to the greater of (i) twelve (12) months interest at the Interest Rate on the amount outstanding on the loans or (ii) interest due on any amount advanced under the TLSA at the Interest Rate, (e) adds a restrictive covenant whereby Ranor must maintain monthly minimum cash balances, with failure to comply with such restrictive covenant an event of default pursuant to which Revere may accelerate the repayment of the loans, and (f) includes a reaffirmation of the Company's guarantee of Ranor's obligations under the TLSA and the Notes pursuant to a Guaranty Agreement between the Company and Revere.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The descriptions of the Amendment and the Notes are qualified in their entirety by reference to the full text of the Amendment and the Notes, copies of which are attached hereto as Exhibits 10.1, 10.2, and 10.3, respectively, and are incorporated by reference herein.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financial Statements and Exhibits.</div>
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<div style="TEXT-ALIGN: left"><u>Exhibits</u></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160; &#160; &#160; &#160; &#160; &#160;&#160; 10.1</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-1.htm">Note and Other Loan Documents Modification Agreement No. 2 dated January 22, 2016 by and between Revere High Yield Fund, LP, Ranor, Inc. and TechPrecision Corporation.</a></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-2.htm">Amended and Restated Term Note in the original principal amount of $1,500,000 in the name of Revere High Yield Fund, LP, dated January 22, 2016.</a></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-3.htm">Amended and Restated Term Note in the original principal amount of $750,000 in the name of Revere High Yield Fund, LP, dated January 22, 2016.</a></div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 27pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">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.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Date: January 22, 2016</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
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<td style="BORDER-BOTTOM: black 2px solid; WIDTH: 33.62%; VERTICAL-ALIGN: top">&#160;/s/ Thomas Sammons</td>
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<td style="BORDER-BOTTOM-COLOR: ; WIDTH: 10.33%; VERTICAL-ALIGN: top">&#160;Name: </td>
<td style="BORDER-BOTTOM-COLOR: ; WIDTH: 33.62%; VERTICAL-ALIGN: top">&#160;Thomas Sammons</td>
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<td style="BORDER-BOTTOM-COLOR: ; WIDTH: 10.33%; VERTICAL-ALIGN: top">&#160;Title: </td>
<td style="BORDER-BOTTOM-COLOR: ; WIDTH: 33.62%; VERTICAL-ALIGN: top">&#160;Chief Financial Officer</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-1.htm">Note and Other Loan Documents Modification Agreement No. 2 dated January 22, 2016 by and between Revere High Yield Fund, LP, Ranor, Inc. and TechPrecision Corporation.</a></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-2.htm">Amended and Restated Term Note in the original principal amount of $1,500,000 in the name of Revere High Yield Fund, LP, dated January 22, 2016.</a></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10-3.htm">Amended and Restated Term Note in the original principal amount of $750,000 in the name of Revere High Yield Fund, LP, dated January 22, 2016.</a></div>
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<TYPE>EX-10.1
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<div style="TEXT-ALIGN: right; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Exhibit 10.1</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>NOTE AND OTHER LOAN DOCUMENTS MODIFICATION AGREEMENT NO. 2</u></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">THIS NOTE AND OTHER LOAN DOCUMENTS MODIFICATION AGREEMENT No. 2 </font>(this "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Agreement</font>") made effective as of the 22nd day of January, 2016 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective Date</font>"), among <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REVERE HIGH YIELD FUND, LP</font>,<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>a Delaware limited partnership having an address of 2000 McKinney Avenue, Suite 2125, Dallas, Texas 75201 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lender</font>"), <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RANOR, INC.</font>, a Delaware corporation having an address of 1 Bella Drive, Westminster, Massachusetts 01473 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Borrower</font>") and <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TECHPRECISION CORPORATION, </font>a Delaware corporation having an address of 992 Old Eagle School Road, Suite 909, Wayne, PA 19087 <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(</font>the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Guarantor</font>").</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WHEREAS</font>, Lender made a loan to Borrower (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note A Loan</font>") in the original principal amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($1,500,000.00)</font>, which Note A Loan is evidenced by a Term Note in the amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($1,500,000.00) </font>from Borrower to Lender dated as of December 22, 2014 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note A</font>");</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WHEREAS</font>, Lender made a loan to Borrower (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note B Loan</font>"; the Note B Loan and the Note A Loan are collectively referred to herein as the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Loan"</font>) in the original principal amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SEVEN </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($750,000.00)</font>, which Note B Loan is evidenced by a Term Note in the amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SEVEN </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HUNDRED FIFTY</font>&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">THOUSAND AND 00/100 DOLLARS ($750,000.00)</font> from Borrower to Lender dated as of December 22, 2014 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note B</font>"; Note B and Note A are collectively referred to herein as the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Note"</font>);</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WHEREAS,</font> the Note was executed in connection with and secured by, among other things, (i) that certain Term Loan and Security Agreement dated as of December 22, 2014 by and between Borrower and Lender (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan</font>&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Agreement</font>"); (ii) the Guaranty; (iii) the Mortgage; (iv) the Assignment of Leases and Rents; (v) the Environmental Indemnity; and (vi) all other loan documents executed by Borrower in favor of Lender in connection with the Loan (all of the foregoing subparagraphs (i) through (vi), collectively, the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan Documents</font>");</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WHEREAS,</font> on December 31, 2015, the Lender, Borrower and Guarantor entered into that certain Note and Other Documents Modification Agreement to extend the Maturity Date to January 22, 2016;</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WHEREAS</font>, all terms defined in the Loan Agreement are used herein with their defined meanings unless otherwise provided;</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOW, THEREFORE</font>, in consideration of One Dollar ($1.00) and other valuable consideration, each to the other in hand paid, receipt thereof being hereby acknowledged, and in consideration of the mutual covenants herein contained, the parties hereto hereby agree as follows:</div>

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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">1.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Simultaneously with this Agreement, Borrower has executed and delivered to Lender, (i) that certain Amended and Restated Term Note dated as of the date hereof in the amount of </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($1,500,000.00) </font>(<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"New Note A"</font>) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">which </font>New Note A <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">amends and restates </font>Note A in its entirety and copy of which is attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibit A</u></font>; and (ii) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">that certain Amended and Restated Term Note dated as of the date hereof in the original principal amount of </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SEVEN </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($750,000.00) </font>(<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"New Note B"</font>; New Note B and New Note A are collectively referred to herein as the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"New Note"</font>) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">which New Note B amends and restates </font>Note B in its entirety and&#160; a copy of which is attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibit B</u></font>.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">From and after the Effective Date, the Loan Agreement is hereby modified as follows:</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All references to the term "Note", "Note A," and "Note B" shall be deemed to mean the "New Note", "New Note A," and "New Note B", respectively.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The term "Loan Documents" shall be deemed to mean and include New Note A, New Note B, the Mortgage as modified by the Mortgage Modification (as hereinafter defined), and all other Loan Documents as modified by this Agreement.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Note A Loan is deemed to be evidenced by the New Note A and </font>the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Note B Loan is deemed to be evidenced by the New Note B.</font></td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">All references to the term "Mortgage" shall be deemed to mean the Mortgage as modified by the Mortgage Modification (as defined below), and all references to the "Guaranty" shall be deemed to mean the Guaranty as modified hereby.</div>
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">e.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The definition of "Default Rate" set forth in Section 1.01 (Definitions) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt">"<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Default Rate</font>" shall mean the lesser of twenty percent (20%) per annum, or (ii) the highest rate of interest permitted under the laws of the State of Massachusetts."</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">f.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The definition of "Interest Rate" set forth in Section 1.01 (Definitions) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 4.5pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 67.5pt; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Interest Rate"</font> shall mean a rate equal to ten percent (10%)<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>per annum computed on the basis of the actual days elapsed on the assumption that each month contains thirty (30) days and each year contains three hundred sixty (360) days."</div>

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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">g.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The definition of "Minimum Guaranteed Interest" set forth in Section 1.01 (Definitions) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 67.5pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Minimum Guaranteed Interest" </font>shall mean an amount equal to the greater of (i) twelve (12) months interest at the Interest Rate on the amount outstanding on the Loan, or (ii) interest due on any amount Advanced under this agreement at the Interest Rate."</div>

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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">h.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The following definitions of "Anniversary Fee" and "Effective Date" are hereby added to Section 1.01 (Definitions) of the Loan Agreement in the appropriate alphabetical order:</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">"<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Anniversary Fee</font>" shall mean a fee of five percent (5%) of the principal amount of the Loan outstanding on January 22, 2017."</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">"<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective Date</font>" shall mean January 22, 2016."</div>

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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">i.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The definition of "Note A Exit Fee" and of "Note B Exit Fee" set forth in Section 1.01 (Definitions) of the Loan Agreement are hereby deleted in their entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note A Exit Fee"</font> means $75,000.00."</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">j.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.01 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">SECTION 2.01. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Term Loan</u></font>. The Lender agreed, upon the terms and subject to the conditions hereof, to make to Borrower the Note A Loan and the Note B Loan, each of which had a twelve (12) month term, which terms were subsequently extended pursuant to that certain Note and Other Loan Documents Modification Agreement among the Borrower, Lender and Guarantor, dated as of December 31, 2015, to January 22, 2016, and were&#160; further extended pursuant to that certain Note and Other Documents Modification Agreement No. 2 among the Borrower, Lender and Guarantor, dated as of the Effective Date ("<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Modification Agreement No. 2</font>"), for an additional twenty-four (24) month term with a Maturity Date of January 22, 2018. The Note A Loan and the Note B Loan shall be collectively referred to herein as the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Term Loan" </font>or the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Loan"</font>. The Term Loan was fully advanced to Borrower on the Closing Date.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">k.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.02 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">SECTION&#160;2.02. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>The Note</u></font>. The Term Loan was evidenced by Note A and Note B, in the forms attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit A-1 and Exhibit A-2</font>,&#160; respectively, appropriately completed, payable to the order of the Lender, duly executed and delivered on behalf of the Borrower, and dated as of December 22,2014, which Note A and Note B were amended and restated in the forms attached as Exhibit A and Exhibit B to the Modification Agreement No.2, appropriately completed, payable to the order of the Lender, duly executed and delivered on behalf of the Borrower, dated as of the Effective Date The Note shall be with interest accruing at the Interest Rate and payable on the first day of each month (a <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Payment Date"</font>), commencing on <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">March 1, 2016 </font>until and including the Maturity Date with a final payment of the principal balance plus accrued and unpaid interest due and payable on the Maturity Date.&#160; Note A shall be secured by the Mortgage on the Property and a perfected security interest in Borrower's Equipment, subject only to the Permitted Liens.&#160; Note B shall be secured by a perfected first priority UCC-1 security interest in Borrower's Accounts and Inventory and by a perfected security interest in Borrower's Equipment, subject only to the Permitted Liens.</div>
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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">l.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.03 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"SECTION&#160;2.03.&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Maturity Date</u></font>. The maturity date of the Term Loan is January 22, 2018 (the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Maturity Date"</font>)."</div>
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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">m.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.04 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"SECTION&#160;2.04.&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Interest and Principal Payments on the Term Loan.</u></font> On each Payment Date, commencing on <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">March 1,</font>&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</font> until and including the Maturity Date, Borrower shall pay interest in arrears on the principal balance of the Loan from time to time outstanding at a per annum rate equal to the Interest Rate.&#160; Further, on each Payment Date commencing on <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">February 1, 2017 </font>until and including the Maturity Date,<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>Borrower shall make principal payments of $6,250.00 on Note A and principal payments of $3,125.00 on Note B.&#160; The outstanding principal balance of the Loan plus accrued and unpaid interest shall be due and payable on the Maturity Date. In addition to such monthly payments of interest and principal, on the earlier to occur of (i) prepayment of the Loan in accordance with Section 2.05 below or otherwise, and (ii) the Maturity Date, Borrower shall pay to Lender the Minimum Guaranteed Interest net of the monthly interest payments made by Borrower pursuant to this section."</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">n.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.05 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"SECTION 2.05.&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Prepayment of the Term Loan</u></font>.&#160; Borrower may prepay the Term Loan in whole but not in part, at any time, but only after advance written notice to Lender of at least forty-five (45) days provided that no Default or Event of Default shall have occurred and be continuing. If the Loan is prepaid anytime during the term of the Loan, Borrower shall pay to Lender the Minimum Guaranteed Interest net of any interest payments made by Borrower pursuant to Section 2.04.&#160; Lender's acceptance of any prepayment under this Section 2.05 shall not waive any of Lender's rights and remedies under the Loan Documents arising pursuant to an Event of Default."</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">o.</div>
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<div style="TEXT-ALIGN: left; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.11 is hereby added to the Loan Agreement as follows:</div>
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<tr style="HEIGHT: 30px; VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
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<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"SECTION&#160;2.11. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Anniversary Fee.</u></font></div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On January 22, 2017, Borrower shall pay the Anniversary Fee to Lender."</div>
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<td style="WIDTH: 36pt">&#160;</td>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">p.</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 2.12 is hereby added to the Loan Agreement as follows:</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">&#160;</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">SECTION&#160;2.12.&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Collateral Monitoring Fee</u></font>.&#160; On each Payment Date, the Borrower shall pay to Lender a Collateral Monitoring Fee equal to the greater of (a) $350.00 per month or (b) the quotient of one-quarter percent (.25%) of the outstanding principal balance of the Loan divided by twelve (12).</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">q.</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 5.06 is hereby amended by deleting "and" at the end of clause (iv), replacing "." with "; and" at the end of clause (v), and adding the following new clause (vi):</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 36pt">(vi) on each Payment Date, a report of the Borrower's cash balance compared to the minimum required cash balance in accordance with <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Section 5.16</u></font>.</div>
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<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="ef64e3258798438e8a03f639ae74d664" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">r.</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 5.16 is hereby added to the Loan Agreement as follows:</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"SECTION 5.16. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Cash Balance Covenant</u></font>. Borrower shall maintain monthly minimum cash balances as set forth on <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibit C</u></font> hereto."</div>
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<div>
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<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">s.</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Section 10.01 (a) and Section 10.01(b), respectively, of the Loan Agreement are hereby deleted in their entirety and replaced with the following:</div>
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<div style="MARGIN-TOP: 12pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="3d465f536f4d436ca884d801699750c5" border="0" cellspacing="0" cellpadding="0">
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"(a) if to Lender, at</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">c/o Revere High Yield Fund, LP</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2000 McKinney Avenue, Suite 2125</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Dallas, Texas 75201</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Clark Briner</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">with a copy to</font>:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Rogin Nassau LLC<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>CityPlace I<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>185 Asylum Street<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> Hartford, Connecticut 06103</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Katherine F. Troy</div>
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<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 171pt; FONT-SIZE: 10pt">" (b) if to the Borrower, in the name of Borrower at:</div>
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<div>&#160;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Ranor, Inc.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1 Bella Drive</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Westminster, MA 01473</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Tom Sammons, CFO</div>
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<div style="MARGIN-LEFT: 171pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">with a copy to</font>:</div>
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<div>&#160;</div>
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<div>&#160;</div>
</td>
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<div>&#160;</div>
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<div>&#160;</div>
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<div>&#160;</div>
</td>
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<div>&#160;</div>
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<div>&#160;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pepper Hamilton LLP</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">301 Carnegie Center, Suite 400</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Princeton, NJ 08543-5276</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Delia C. Donahue"</div>
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<div>&#160;</div>
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<div>&#160;</div>
</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 108pt; FONT-SIZE: 10pt">&#160;</div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="DSPFPageNumberArea">5</div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
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<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="15eb222225764dfe8e36ccb2ff8c0ee7" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">t.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Exhibits A-1 and A-2 are hereby deleted in their entirety and replaced with the forms attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibits A</u></font> and <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>B</u></font>, respectively.</div>
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<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="0c1fbea2d82f4195ad8a89675acffba1" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 12px; VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div>u.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div>Exhibit C is hereby added to the Loan Agreement in the form attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibit C</u></font>.</div>
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<div style="MARGIN-TOP: 12pt"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><br>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="739c72410b3c4fba9623b96ada60caf6" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">3.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">From and after the Effective Date, the other Loan Documents are hereby modified as follows:</td>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="daa3979c9c7140bd9c7a9f20fa812134" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">a.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All references to the term "Note", "Note A," and "Note B" shall be deemed to mean the "New Note", "New Note A," and "New Note B", respectively.</td>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="cb44301365594858a56d14478526b596" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">b.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The term "Loan Documents" shall be deemed to mean and include the Note, the Mortgage as modified by the Mortgage Modification, and all other Loan Documents as modified by this Agreement.</td>
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</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="DSPFPageNumberArea">6</div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="2648e39f54b1477fb95844529fd443bc" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">c.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The Mortgage is hereby modified in the form attached hereto as <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibit D</u></font> (the "Mortgage Modification"), and all references to the term "Mortgage" shall be deemed to mean the Mortgage as modified by the Mortgage Modification.</td>
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<div style="TEXT-ALIGN: justify; MARGIN-TOP: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="1a9eaa94e9924693a062a6893b49add7" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">d.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The Guaranty is hereby modified by deleting the notice address of the Guarantor set forth in Section 4.9 thereof in its entirety and replacing such address as follows:</td>
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<div>&#160;</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="9ec32867b84e4eb285f019a76477fe1b" border="0" cellspacing="0" cellpadding="0">
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">"Address:</div>
</td>
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<td style="WIDTH: 68%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">TechPrecision Corporation</div>
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<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 68%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">992 Old Eagle School Road, Suite 909</div>
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<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 68%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Wayne, PA 19087</div>
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<tr style="HEIGHT: 16px">
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<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 68%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Tom Sammons, CFO</div>
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<td style="WIDTH: 28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 68%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Telephone: 978-883-5109</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fax: 978-874-2748</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Email: <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">sammonst@ranor.com</font></div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">with a copy to:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pepper Hamilton LLP</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">301 Carnegie Center, Suite 400</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Princeton, NJ&#160; 08543-5276</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attention: Delia C. Donahue</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Telephone: 609.951.4149</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Email: donahudc@pepperlaw.com"</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt">and all references to the term "Guaranty" shall be deemed to mean the Guaranty as modified hereby.</div>

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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">4.</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All of the other terms and conditions of the Loan Documents shall remain the same and in full force and effect, except as specifically amended herein. Borrower hereby reaffirms the Note, the Mortgage, the Loan Agreement and the other Loan Documents, and acknowledges that Borrower has no setoffs, counterclaims or defenses to any of the Loan Documents.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Any default by Borrower in any of the covenants herein made shall, at the option of Lender, or its successors and assigns, constitute an Event of Default under the Loan Documents entitling Lender, or its successors or assigns, to any or all of the other remedies it or they may have thereunder.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All of the Borrower Collateral (as defined in the Loan Agreement) and the Collateral (as defined in the Mortgage) shall remain in all respects subject to the lien, charge and encumbrance of the Loan Agreement and Mortgage, as the case may be, and nothing herein contained and nothing done pursuant hereto, shall affect or be construed to affect the lien, charge or encumbrance of the Loan Agreement and Mortgage, as the case may be or the priority thereof over all liens, charges or encumbrances, except as expressly provided herein.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">This Agreement shall be binding upon Borrower and any subsequent owner of the Collateral or any part thereof (provided, however, that any provisions against sale or transfer contained in the Mortgage shall remain in full force and effect) and shall be binding and inure to the benefit of Lender, its successors and assigns, including any subsequent holder of the Mortgage.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">BORROWER, AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION MAKER, EACH HEREBY WAIVE PRESENTMENT, DEMAND FOR PAYMENT AND NOTICE OF DISHONOR, TOGETHER WITH ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION WITH RESPECT TO THE NOTE, THE MORTGAGE, THE OTHER LOAN DOCUMENTS OR THIS AGREEMENT AND AS TO ANY ISSUES ARISING RELATING TO THE NOTE, THE MORTGAGE, THE OTHER LOAN DOCUMENTS OR THIS AGREEMENT.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Guarantor hereby consents to the terms of this Agreement and <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">reaffirms its obligations under Guaranty and the Indemnity,</font> agrees that such Guaranty and such <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indemnity </font>continue to be binding and enforceable obligations of the Guarantor, and acknowledges that Borrower has no setoffs, counterclaims or defenses to any of the Guaranty or the Indemnity.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same Agreement.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">This Agreement shall be governed and construed by and interpreted in accordance with the laws of the&#160;Commonwealth of Massachusetts, without regard to conflict of law provisions thereof.</td>
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<td style="WIDTH: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">12.</td>
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<div style="TEXT-ALIGN: left"><u>LENDER:</u></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REVERE HIGH YIELD FUND, LP,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">a Delaware limited partnership</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">By:&#160; Revere GP, LLC, its General Partner</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Name:&#160; Clark Briner</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Its:&#160; Manager</div>
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<div style="TEXT-ALIGN: left"><u><font style="FONT-WEIGHT: bold">BORROWER</font>:</u></div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SIGNATURE PAGE TO NOTE AND OTHER LOAN DOCUMENTS MODIFICATION NO. 2 AGREEMENT</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">AMENDED AND RESTATED TERM NOTE</div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;January<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</font>22, 2016</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">FOR VALUE RECEIVED, the undersigned, <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RANOR, INC.</font>, a Delaware corporation with an address of Bella Drive, Westminster, Massachusetts 01473 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Borrower</font>"), DOES HEREBY PROMISE to pay to the order of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REVERE HIGH YIELD FUND, LP, </font>a Delaware limited partnership (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lender</font>"), at the office of the Lender at 2000 McKinney Avenue, Suite 2125, Dallas, Texas 75201, in lawful money of the United States of America, in immediately available funds, the maximum principal amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ONE MILLION </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FIVE HUNDRED THOUSAND 00/100 DOLLARS </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">(</font>$1,500,000.00) or so much thereof as may be advanced to Borrower pursuant to this Amended and Restated Term Note (this "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Term Note</font>") and the Agreement (as hereinafter defined) payable as follows:&#160; (i) payments of interest only on advanced principal on the first day of each month (a <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Payment Date"</font>), commencing <font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">March 1, 2016 </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">until and including </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">January 1, 2017</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">; (ii) payments of interest together with principal payments of $6,250.00 on each Payment Date commencing </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">February 1, 2017</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt"> until and including the Payment Date immediately prior to the Maturity Date; and (iii) a balloon payment of the then outstanding principal balance plus any accrued and unpaid interest on </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">January</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">22, 2018 </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">(t</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">he "Maturity Date</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">").&#160; Interest hereunder shall accrue from the date hereof on the unpaid principal amount&#160; at a rate equal to ten percent (10%) per annum on the basis of the actual days elapsed on the assumption that each month contains thirty (30) days and each year contains three hundred sixty (360) days, multiplied by the actual number of days elapsed, in like money, at said office, as more specifically set forth in Article II of that certain Term Loan and Security Agreement dated as of December 22, 2014, as amended pursuant to the Note and Other Loan Documents Modification Agreement dated as of December 31, 2015, and as further amended pursuant to the Note and Other Documents Modification Agreement No. 2 dated the date hereof (as so amended, and as may be further amended, restated supplemented and/or modified from time to time, the "</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Agreement</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">") and, upon a default, at a rate of the lesser of: (A) twenty percent (20%) per annum, or (B) the highest rate of interest permitted under the laws of the Commonwealth of Massachusetts</font>.</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 13.35pt; TEXT-INDENT: 32.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">This Term Note amends and restates in its entirety that certain Term Note dated December 22, 2014 made by the Borrower in the original principal amount of $1,500,000.00 payable to the order of Lender (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Original Note</font>"). Borrower intends, and Lender, by its acceptance of this Term Note agrees, that the indebtedness previously evidenced by the Original Note remains outstanding, but such indebtedness shall henceforth be evidenced by this Term Note, and the terms and conditions of Borrower's obligations to repay said indebtedness and interest thereon shall be governed by the terms of this Term Note. Neither the execution, delivery or acceptance of this Term Note, nor any of the terms and provisions set forth in this Term Note, shall be deemed or construed to effect a novation or to cause all or any part of the aforesaid indebtedness, or the liability of any person with respect therefor, to be, or to be deemed to have been, paid, satisfied or discharged.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Term Note is given to evidence an actual loan (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan</font>") in the maximum principal amount of $1,500,000.00, and is the Term Note referred to as "Note A" in Section&#160;2.02 of the Agreement, and is subject to prepayment and acceleration of maturity as set forth in the Agreement. This Term Note is secured by, among other things, the Mortgage (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Security Instrument</font>").&#160; All terms defined in the Agreement are used herein with their defined meanings unless otherwise provided.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Term Note shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts and any applicable laws of the United States of America.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Lender shall have the absolute right to sell and/or assign this Term Note and the Security Instrument, in whole or in part, and/or to enter into one or more participation agreements concerning this Term Note and the Security Instrument.&#160; If Lender gives written notice of any such sale(s), assignment(s) and/or participation(s) to Borrower, Borrower shall make, or cause to be made, payments to such subsequent holder(s) or participant(s), as the case may be.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">If any term of this Term Note, or the applications hereof to any person or set of circumstances, shall to any extent be invalid, illegal, or unenforceable, the remainder of this Term Note, or the application of such provision or part thereof to persons or circumstances other than those as to which it is invalid, illegal, or unenforceable, shall not be affected thereby, and each term of this Term Note shall be valid and enforceable to the fullest extent consistent with applicable law and this Term Note shall be interpreted and construed as though such invalid, illegal, or unenforceable term or provision (or any portion thereof) were not contained in this Term Note.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">Borrower and all other parties liable hereunder, whether as principal, endorser or otherwise, hereby severally waive presentment, demand for payment, protest and notice of dishonor and waive recourse to defenses generally, including extensions of time, release of security or other indulgences that may be granted by Lender to Borrower or any other party liable hereon, and also agree to pay all costs of collection, including reasonable attorneys' fees incurred by Lender in connection with enforcement of any of Lender's rights hereunder or under any other document in connection with, securing or evidencing this Term Note.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION BORROWER WAIVE PRESENTMENT, DEMAND FOR PAYMENT AND NOTICE OF DISHONOR, TOGETHER WITH ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS TERM NOTE OR UNDER ANY AGREEMENT, INSTRUMENT OR OTHER DOCUMENT CONTEMPLATED HEREBY OR RELATED HERETO AND IN ANY ACTION DIRECTLY OR INDIRECTLY RELATED TO OR CONNECTED WITH THE OBLIGATIONS PROVIDED FOR HEREIN, OR ANY CONDUCT RELATING TO THE ADMINISTRATION OR ENFORCEMENT OF SUCH OBLIGATIONS OR ARISING FROM THE DEBTOR/CREDITOR RELATIONSHIP OF THE PARTIES HERETO.&#160; BORROWER ACKNOWLEDGES THAT THIS WAIVER MAY DEPRIVE IT OF AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS WILLINGLY, KNOWINGLY AND VOLUNTARILY BEEN AGREED TO BY BORROWER.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE COMMONWEALTH OF MASSACHUSETTS AND WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON BORROWER, AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS BE MADE BY REGISTERED MAIL DIRECTED TO BORROWER AT THE ADDRESS AS SET FORTH IN THIS TERM NOTE AND SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT THEREOF.&#160; BORROWER WAIVES ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER AND WILLINGLY, KNOWINGLY AND VOLUNTARILY CONSENTS TO THE GRANTING OF ANY SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY THE COURT.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER ACKNOWLEDGES AND REPRESENTS THAT THE LOAN EVIDENCED BY THIS TERM NOTE IS A COMMERCIAL TRANSACTION AND THAT THE PROCEEDS OF THE LOAN SHALL NOT BE USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES.&#160; BORROWER AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION BORROWER HEREBY WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVE (TO THE MAXIMUM EXTENT PERMITTED BY LAW) ANY RIGHTS TO NOTICE OR HEARING OR AS OTHERWISE REQUIRED BY ANY LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE HOLDER MAY ELECT TO USE OR WHICH IT MAY AVAIL ITSELF.&#160; BORROWER FURTHER WAIVES, TO THE GREATEST EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL PRESENT AND FUTURE VALUATION, APPRAISEMENT, EXEMPTION, STAY, REDEMPTION AND MORATORIUM LAWS.&#160; BORROWER FURTHER WAIVES ANY REQUIREMENTS THAT HOLDER OBTAIN A BOND OR ANY SIMILAR DEVICE IN CONNECTION WITH THE EXERCISE OF ANY REMEDY OR THE ENFORCEMENT OF ANY RIGHT HEREUNDER OR PERTAINING TO THE LOAN.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER HEREBY EXPRESSLY AND UNCONDITIONALLY, WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVES, IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING BROUGHT BY OR ON BEHALF OF LENDER ON THIS TERM NOTE, ANY AND EVERY RIGHT BORROWER MAY HAVE TO (I) INJUNCTIVE RELIEF, (II) INTERPOSE ANY COUNTERCLAIM THEREIN (OTHER THAN COMPULSORY COUNTERCLAIMS), AND (III) HAVE THE SAME CONSOLIDATED WITH ANY OTHER OR SEPARATE SUIT, ACTION OR PROCEEDING.&#160; NOTHING HEREIN CONTAINED SHALL PREVENT OR PROHIBIT BORROWER FROM INSTITUTING OR MAINTAINING A SEPARATE ACTION AGAINST LENDER WITH RESPECT TO ANY ASSERTED CLAIM.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXCEPT AS PROHIBITED BY LAW, BORROWER HEREBY WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVES ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES.&#160; BORROWER CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF PAYEE HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT PAYEE WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.&#160; THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR PAYEE TO ACCEPT THIS TERM NOTE AND MAKE THE LOAN.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">It is the intention of Borrower and Lender to conform strictly to the usury laws now or hereafter in force in the Commonwealth of Massachusetts, and any interest payable under this Term Note or any other documents evidencing or securing the Loan (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan Documents</font>") shall be subject to reduction to an amount not to exceed the maximum non-usurious amount for commercial loans allowed under the usury laws of the state or commonwealth in which the Property is located as now or hereafter construed by the courts having jurisdiction over such matters.&#160; In the event such interest (whether designated as interest, service charges, points, or otherwise) does exceed the maximum legal rate, it shall be (i) cancelled automatically to the extent that such interest exceeds the maximum legal rate; (ii) if already paid, at the option of the Lender, either be rebated to Borrower or credited on the principal amount of the Term Note; or (iii) if the Term Note has been prepaid in full, then such excess shall be rebated to Borrower.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">It is further agreed, without limitation of the foregoing, that all calculations of the rate of interest (whether designed as interest, service charges, points, or otherwise) contracted for, charged, or received under this Term Note, or under any instrument evidencing or securing the loan evidenced hereby, that are made for the purpose of determining whether such rate exceeds the maximum legal rate, shall be made, to the extent permitted by applicable law, by amortizing, prorating, allocating, and spreading throughout the full stated term of this Term Note (and any extensions of the term hereof that may be hereafter granted) all such interest at any time contracted for, charged, or received from the Borrower or otherwise by the Lender so that the rate of interest on account of the indebtedness evidenced by this Term Note, as so calculated, is uniform throughout the term hereof.&#160; If the Borrower is exempt or hereafter becomes exempt from applicable usury statutes or for any other reason the rate of interest to be charged on this Term Note is not limited by law, none of the provisions of this paragraph shall be construed so as to limit or reduce the interest or other consideration payable under this Term Note or any other Loan Documents.&#160; The terms and provisions of this paragraph </div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Exhibit 10.3</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">AMENDED AND RESTATED TERM NOTE</div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;January<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</font>22, 2016</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">FOR VALUE RECEIVED, the undersigned, <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RANOR, INC.</font>, a Delaware corporation with an address of Bella Drive, Westminster, Massachusetts 01473 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Borrower</font>"), DOES HEREBY PROMISE to pay to the order of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REVERE HIGH YIELD FUND, LP, </font>a Delaware limited partnership (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lender</font>"), at the office of the Lender at 2000 McKinney Avenue, Suite 2125, Dallas, Texas 75201, in lawful money of the United States of America, in immediately available funds, the maximum principal amount of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SEVEN </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HUNDRED FIFTY THOUSAND 00/100 DOLLARS </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">(</font>$750,000.00) or so much thereof as may be advanced to Borrower pursuant to this Amended and Restated Term Note (this "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Term Note</font>") and the Agreement (as hereinafter defined) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>payable as follows:&#160; (i) payments of interest only on advanced principal on the first day of each month (a <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">"Payment Date"</font>), commencing <font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">March 1, 2016 </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">until and including </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">January 1, 2017</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">; (ii) payments of interest together with principal payments of $3,125.00 on each Payment Date commencing </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">February 1, 2017</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt"> until and including the Payment Date immediately prior to the Maturity Date; and (iii) a balloon payment of the then outstanding principal balance plus any accrued and unpaid interest on </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">January</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">22, 2018</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt"> (the "</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maturity Date</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">").&#160; Interest hereunder shall accrue from the date hereof on the unpaid principal amount&#160; at a rate equal to ten percent (10%) per annum on the basis of the actual days elapsed on the assumption that each month contains thirty (30) days and each year contains three hundred sixty (360) days, multiplied by the actual number of days elapsed, in like money, at said office, as more specifically set forth in Article II of that certain Term Loan and Security Agreement dated as of December 22, 2014, as amended pursuant to the Note and Other Loan Documents Modification Agreement dated as of December 31, 2015, and as further amended pursuant to the Note and Other Documents Modification Agreement No. 2 dated the date hereof (as so amended, and as may be further amended, restated, supplemented and/or modified, from time to time, the "</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Agreement</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">") and, upon a default, at a rate of the lesser of: (A) twenty percent (20%) per annum, or (B) the highest rate of interest permitted under the laws of the Commonwealth of Massachusetts</font>.</div>

<div style="TEXT-ALIGN: justify; MARGIN-TOP: 13.35pt; TEXT-INDENT: 32.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt">This Term Note amends and restates in its entirety that certain Term Note dated December 22, 2014 made by the Borrower in the original principal amount of $750,000.00 payable to the order of Lender (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Original Note</font>"). Borrower intends, and Lender, by its acceptance of this Term Note agrees, that the indebtedness previously evidenced by the Original Note remains outstanding, but such indebtedness shall henceforth be evidenced by this Term Note, and the terms and conditions of Borrower's obligations to repay said indebtedness and interest thereon shall be governed by the terms of this Term Note. Neither the execution, delivery or acceptance of this Term Note, nor any of the terms and provisions set forth in this Term Note, shall be deemed or construed to effect a novation or to cause all or any part of the aforesaid indebtedness, or the liability of any person with respect therefor, to be, or to be deemed to have been, paid, satisfied or discharged.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Term Note is given to evidence an actual loan (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan</font>") in the maximum principal amount of $750,000.00, and is the Term Note referred to as "Note B" in Section&#160;2.02 of the Agreement, and is subject to prepayment and acceleration of maturity as set forth in the Agreement. This Term Note is secured by, among other things, the Agreement.&#160; All terms defined in the Agreement are used herein with their defined meanings unless otherwise provided.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Term Note shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts and any applicable laws of the United States of America.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Lender shall have the absolute right to sell and/or assign this Term Note and the Agreement, in whole or in part, and/or to enter into one or more participation agreements concerning this Term Note and the Agreement.&#160; If Lender gives written notice of any such sale(s), assignment(s) and/or participation(s) to Borrower, Borrower shall make, or cause to be made, payments to such subsequent holder(s) or participant(s), as the case may be.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">If any term of this Term Note, or the applications hereof to any person or set of circumstances, shall to any extent be invalid, illegal, or unenforceable, the remainder of this Term Note, or the application of such provision or part thereof to persons or circumstances other than those as to which it is invalid, illegal, or unenforceable, shall not be affected thereby, and each term of this Term Note shall be valid and enforceable to the fullest extent consistent with applicable law and this Term Note shall be interpreted and construed as though such invalid, illegal, or unenforceable term or provision (or any portion thereof) were not contained in this Term Note.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">Borrower and all other parties liable hereunder, whether as principal, endorser or otherwise, hereby severally waive presentment, demand for payment, protest and notice of dishonor and waive recourse to defenses generally, including extensions of time, release of security or other indulgences that may be granted by Lender to Borrower or any other party liable hereon, and also agree to pay all costs of collection, including reasonable attorneys' fees incurred by Lender in connection with enforcement of any of Lender's rights hereunder or under any other document in connection with, securing or evidencing this Term Note.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION BORROWER WAIVE PRESENTMENT, DEMAND FOR PAYMENT AND NOTICE OF DISHONOR, TOGETHER WITH ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS TERM NOTE OR UNDER ANY AGREEMENT, INSTRUMENT OR OTHER DOCUMENT CONTEMPLATED HEREBY OR RELATED HERETO AND IN ANY ACTION DIRECTLY OR INDIRECTLY RELATED TO OR CONNECTED WITH THE OBLIGATIONS PROVIDED FOR HEREIN, OR ANY CONDUCT RELATING TO THE ADMINISTRATION OR ENFORCEMENT OF SUCH OBLIGATIONS OR ARISING FROM THE DEBTOR/CREDITOR RELATIONSHIP OF THE PARTIES HERETO.&#160; BORROWER ACKNOWLEDGES THAT THIS WAIVER MAY DEPRIVE IT OF AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS WILLINGLY, KNOWINGLY AND VOLUNTARILY BEEN AGREED TO BY BORROWER.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER ACKNOWLEDGES AND REPRESENTS THAT THE LOAN EVIDENCED BY THIS TERM NOTE IS A COMMERCIAL TRANSACTION AND THAT THE PROCEEDS OF THE LOAN SHALL NOT BE USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES.&#160; BORROWER AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION BORROWER HEREBY WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVE (TO THE MAXIMUM EXTENT PERMITTED BY LAW) ANY RIGHTS TO NOTICE OR HEARING OR AS OTHERWISE REQUIRED BY ANY LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE HOLDER MAY ELECT TO USE OR WHICH IT MAY AVAIL ITSELF.&#160; BORROWER FURTHER WAIVES, TO THE GREATEST EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL PRESENT AND FUTURE VALUATION, APPRAISEMENT, EXEMPTION, STAY, REDEMPTION AND MORATORIUM LAWS.&#160; BORROWER FURTHER WAIVES ANY REQUIREMENTS THAT HOLDER OBTAIN A BOND OR ANY SIMILAR DEVICE IN CONNECTION WITH THE EXERCISE OF ANY REMEDY OR THE ENFORCEMENT OF ANY RIGHT HEREUNDER OR PERTAINING TO THE LOAN.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BORROWER HEREBY EXPRESSLY AND UNCONDITIONALLY, WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVES, IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING BROUGHT BY OR ON BEHALF OF LENDER ON THIS TERM NOTE, ANY AND EVERY RIGHT BORROWER MAY HAVE TO (I) INJUNCTIVE RELIEF, (II) INTERPOSE ANY COUNTERCLAIM THEREIN (OTHER THAN COMPULSORY COUNTERCLAIMS), AND (III) HAVE THE SAME CONSOLIDATED WITH ANY OTHER OR SEPARATE SUIT, ACTION OR PROCEEDING.&#160; NOTHING HEREIN CONTAINED SHALL PREVENT OR PROHIBIT BORROWER FROM INSTITUTING OR MAINTAINING A SEPARATE ACTION AGAINST LENDER WITH RESPECT TO ANY ASSERTED CLAIM.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXCEPT AS PROHIBITED BY LAW, BORROWER HEREBY WILLINGLY, KNOWINGLY AND VOLUNTARILY WAIVES ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES.&#160; BORROWER CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF PAYEE HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT PAYEE WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.&#160; THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR PAYEE TO ACCEPT THIS TERM NOTE AND MAKE THE LOAN.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">It is the intention of Borrower and Lender to conform strictly to the usury laws now or hereafter in force in the Commonwealth of Massachusetts, and any interest payable under this Term Note or any other documents evidencing or securing the Loan (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan Documents</font>") shall be subject to reduction to an amount not to exceed the maximum non-usurious amount for commercial loans allowed under the usury laws of the state or commonwealth in which the Property is located as now or hereafter construed by the courts having jurisdiction over such matters.&#160; In the event such interest (whether designated as interest, service charges, points, or otherwise) does exceed the maximum legal rate, it shall be (i) cancelled automatically to the extent that such interest exceeds the maximum legal rate; (ii) if already paid, at the option of the Lender, either be rebated to Borrower or credited on the principal amount of the Term Note; or (iii) if the Term Note has been prepaid in full, then such excess shall be rebated to Borrower.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">It is further agreed, without limitation of the foregoing, that all calculations of the rate of interest (whether designed as interest, service charges, points, or otherwise) contracted for, charged, or received under this Term Note, or under any instrument evidencing or securing the loan evidenced hereby, that are made for the purpose of determining whether such rate exceeds the maximum legal rate, shall be made, to the extent permitted by applicable law, by amortizing, prorating, allocating, and spreading throughout the full stated term of this Term Note (and any extensions of the term hereof that may be hereafter granted) all such interest at any time contracted for, charged, or received from the Borrower or otherwise by the Lender so that the rate of interest on account of the indebtedness evidenced by this Term Note, as so calculated, is uniform throughout the term hereof.&#160; If the Borrower is exempt or hereafter becomes exempt from applicable usury statutes or for any other reason the rate of interest to be charged on this Term Note is not limited by law, none of the provisions of this paragraph shall be construed so as to limit or reduce the interest or other consideration payable under this Term Note or any other Loan Documents.&#160; The terms and provisions of this paragraph </div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">shall control and supersede every other provision of all agreements between the parties hereto.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">IN WITNESS WHEREOF, the Borrower has executed this Term Note as of the day and year first above written.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;/s/ Alexander Shen</div>
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