<SEC-DOCUMENT>0001019056-20-000315.txt : 20200512
<SEC-HEADER>0001019056-20-000315.hdr.sgml : 20200512
<ACCEPTANCE-DATETIME>20200512132340
ACCESSION NUMBER:		0001019056-20-000315
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200424
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200512
DATE AS OF CHANGE:		20200512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Modular Medical, Inc.
		CENTRAL INDEX KEY:			0001074871
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				870620495
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49671
		FILM NUMBER:		20868395

	BUSINESS ADDRESS:	
		STREET 1:		800 WEST VALLEY PARKWAY
		STREET 2:		SUITE 203
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92025
		BUSINESS PHONE:		949-370-9062

	MAIL ADDRESS:	
		STREET 1:		800 WEST VALLEY PARKWAY
		STREET 2:		SUITE 203
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BEAR LAKE RECREATION INC
		DATE OF NAME CHANGE:	19981208
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>modular_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Washington,
D.C. 20549</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM
8-K</B></FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">Date of report
(Date of earliest event reported):&nbsp; April 24, 2020</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 24pt Times New Roman, Times, Serif"><B>MODULAR
    MEDICAL, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Exact
    name of registrant as specified in its charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Nevada</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>000-49671</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>87-0620495</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(State
        or other jurisdiction</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">of incorporation)</FONT></P></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Commission
    File No.)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(IRS
        Employer</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Identification
        No.)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; width: 48%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16772
    W Bernardo Drive, San Diego, California</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 48%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 3pt; padding-left: 3pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>92127</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address
    of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Zip
    Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>858-800-3500</U></B></FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">800
W. Valley Parkway, Escondido, CA 92025</FONT></TD>
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Former name
or former address, if changed since last report)</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Check the appropriate
box below if the Form&nbsp;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):</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Securities registered pursuant to
Section 12(b) of the Act:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 41%; border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title
    of each class</FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trading
    symbol(s)</FONT></TD>
    <TD STYLE="width: 39%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name
    of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><FONT STYLE="font-size: 10pt">Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule
12b-2 of the Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2 ).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Emerging
growth company&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Wingdings">x</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;</FONT><FONT STYLE="font: 10pt Wingdings">o</FONT></P>

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    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Item 1.01.</B></FONT></td>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Entry into a Material Definitive Agreement.</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">On April 24, 2020,
Modular Medical, Inc. (the &ldquo;Company&rdquo;) received a $368,780 unsecured loan (the &ldquo;PPP Loan&rdquo;) under the Paycheck
Protection Program (the &ldquo;PPP&rdquo;), which was established under the U.S. government&rsquo;s Coronavirus Aid, Relief, and
Economic Security Act (the &ldquo;CARES Act&rdquo;). The PPP Loan to the Company was made through Silicon Valley Bank (the &ldquo;Lender&rdquo;),
and the Company entered into a U.S. Small Business Administration Paycheck Protection Program Note (the &ldquo;Agreement&rdquo;)
with the Lender evidencing the PPP Loan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The term of the PPP Loan
is two years. Interest will accrue on the outstanding principal balance of the PPP Loan at a fixed rate of 1.0%, which shall be
deferred for the first six months of the term of the PPP Loan. Monthly payments will be due and payable beginning in October 2020
and continue each month thereafter until maturity of the PPP Loan. The Company may prepay principal of the PPP Loan at any time
in any amount without penalty. The Agreement contains customary events of default relating to, among other things, payment defaults,
breach of representations and warranties or provisions of the PPP Loan. The occurrence of an event of default may result in the
repayment of all amounts outstanding, collection of all amounts owing from the Company, and/or filing suit and obtaining judgment
against the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The Company may apply to
the Lender for forgiveness of the PPP Loan, and the amount which may be forgiven will be equal to the sum of the payroll and benefit
costs and covered rent and utility payments incurred by the Company during the eight-week period beginning on April 24, 2020,
as calculated in accordance with the terms of the CARES Act. No assurance is provided that the Company will obtain forgiveness
of the PPP Loan in whole or in part, but the Company intends to use the proceeds in accordance with the PPP Loan program.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The foregoing descriptions
of the Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Agreement
attached to this Form 8-K as Exhibit 10.1 and incorporated herein by reference.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Item 2.03.</B></FONT></td>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of the Registrant.</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The disclosure in Item
1.01 and Exhibit 10.1 of this Current Report on Form 8-K are incorporated herein by reference.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Item 9.01.</B></FONT></td>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Financial Statements and
    Exhibits.</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(d)</FONT></td>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Exhibits:</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B><U>Exhibit No.</U></B></FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B><U>Description</U></B></FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.1</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_1.htm"><FONT STYLE="font-size: 10pt">U.S.Small Business Administration Paycheck Protection Program Note dated April 23, 2020</FONT></A></td></tr>
</table>

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Modular
    Medical, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:
    May 12, 2020</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Paul M. DiPerna</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chairman,
Chief Executive Officer, </FONT><BR>
<FONT STYLE="font-size: 10pt">Chief Financial Officer, Secretary and Treasurer</FONT></P></TD></TR>
</TABLE>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><B>Exhibit 10.1</B></P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><U>Silicon
Valley Bank</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>U.S.
Small Business Administration <BR>
Paycheck Protection Program <BR>
Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">SBA
    Loan No.</FONT></td>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">9920647100</FONT></P></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD ROWSPAN="2" STYLE="width: 26%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: top; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">SBA
    Loan Name</FONT></td>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-right: black 1pt solid; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Borrower</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Legal Name</FONT></P></td>
    <TD STYLE="width: 58%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-right: black 1pt solid; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0"><FONT STYLE="font-size: 10pt">Modular Medical,
        Inc.</FONT></P></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">DBA</FONT></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Date</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">4/23/2020</FONT></P></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Loan
    Amount</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">$
    <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">368780</FONT></FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Interest
    Rate</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">1.0%
    per annum</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Borrower</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Modular Medical,
        Inc.</FONT></P></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Operating
    Company</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Lender</FONT></td>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.1pt; text-align: left; vertical-align: middle; padding-top: 5.1pt; padding-bottom: 5.1pt"><FONT STYLE="font-size: 10pt">Silicon
    Valley Bank</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">PROMISE
                                         TO PAY.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">In return for the Loan,
Borrower promises to pay to the order of Lender the amount of $ <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>368780&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>Dollars,
interest on the unpaid principal balance, and all other amounts required by this Note.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">DEFINITIONS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Collateral&rdquo;
means any property taken as security for payment of this Note or any guarantee of this Note.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;CARES Act&rdquo; means the
Coronavirus Aid, Relief, and Economic Security Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Guarantor&rdquo;
means each person or entity that signs a guarantee of payment of this Note.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Loan&rdquo; means
the loan evidenced by this Note.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Loan Documents&rdquo;
means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Paycheck Protection
Program&rdquo; means loan program created by Section 1102 of the CARES Act.</FONT></P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;Per Annum&rdquo;
means for a year deemed to be comprised of 360 days.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&ldquo;SBA&rdquo; means
the Small Business Administration, an Agency of the United States of America.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">PAYMENT
                                         TERMS: Borrower must make all payments at the place Lender designates. The payment terms
                                         for this Note are:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">A.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt"><U>Conditions
                                         Precedent to Disbursement of Loan Proceeds.</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><FONT STYLE="font-size: 10pt">Before the funding of
the Loan, the following conditions must be satisfied:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">Lender
                                         has approved the request for the Loan.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">Lender
                                         has received approval from SBA to fund the Loan.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">B.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>No
                                         Payments During Deferral Period.</U> There shall be no payments due by Borrower during
                                         the six- month period beginning on the date of this Note (the &ldquo;Deferral Period&rdquo;).
                                         However, during the Deferral Period interest will accrue at the Interest Rate on the
                                         unpaid principal balance computed on the basis of the actual number of days elapsed in
                                         a year of 360 days.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">C.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>Principal
                                         and Interest Payments</U>. Commencing one month after the expiration of the Deferral
                                         Period, and continuing on the same day of each month thereafter until the Maturity Date,
                                         Borrower shall pay to Lender monthly payments of principal and interest, each in such
                                         equal amount required to fully amortize the principal amount outstanding on the Note
                                         on the last day of the Deferral Period by the Maturity Date.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">D.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>Maturity
                                         Date</U>. On the date which is twenty-four (24) months from the date of this Note (the
                                         &ldquo;Maturity Date&rdquo;), Borrower shall pay to Lender any and all unpaid principal
                                         plus accrued and unpaid interest plus interest accrued during the Deferral Period. This
                                         Note will mature on the Maturity Date.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>Not
                                         a Business Day</U>. If any payment is due on a date for which there is no numerical equivalent
                                         in a particular calendar month then it shall be due on the last day of such month. If
                                         any payment is due on a day that is a Saturday, Sunday or any other day on which California
                                         chartered banks are authorized to be closed, the payment will be made on the next business
                                         day.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">F.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>Payment
                                         Allocation</U>. Payments shall be allocated among principal and interest at the discretion
                                         of Lender unless otherwise agreed or required by applicable law (including the CARES
                                         Act). Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant
                                         to the Paycheck Protection Program under the federal CARES Act, the amount so forgiven
                                         shall be applied to principal.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">F.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><U>Prepayments</U>.
                                         Borrower may prepay this Note at any time without payment of any penalty or premium.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">G.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt"><U>Borrower
                                         Certifications</U>.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 36pt"><FONT STYLE="font-size: 10pt">Borrower certifies to
Lender as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.95pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Current
                                         economic uncertainty makes this Loan necessary to support the ongoing operations of Borrower.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Loan
                                         funds will be used by Borrower to retain its workers and maintain its payroll or make
                                         its mortgage payments, lease payments, and utility payments.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">For
                                         the period beginning on February 15, 2020 and ending on December 31, 2020, Borrower did
                                         not receive, and agrees it will not apply for or receive, another loan under the Paycheck
                                         Protection Program.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Borrower
                                         was in operation on February 15, 2020 and (i) had employees for whom it paid salaries
                                         and payroll taxes or (ii) paid independent contractors as reported on a 1099-Misc.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Borrower
                                         has reviewed and understands Sections 1102 and 1106 of the CARES Act and the related
                                         guidelines and has completed the Application, including Borrower&rsquo;s eligibility
                                         in conformity with those provisions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Borrower
                                         has taken its &ldquo;affiliates&rdquo; (as defined by the SBA) into account when determining
                                         the number of employees and the total amount of loans permitted under the Paycheck Protection
                                         Program.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">Borrower
                                         is a small business concern or is otherwise eligible to receive a covered loan.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
                                         person who has completed and signed the application, this Note and the Loan Documents
                                         has been validly authorized by Borrower to enter into borrowings on behalf of Borrower.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">H.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt"><U>Agreements.</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.15pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font-size: 10pt">Borrower understands
and agrees, and waives and releases Lender, its affiliates and their respective directors, officers, agents and employees, as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
                                         Loan will be made under the SBA&rsquo;s Paycheck Protection Program. Accordingly, this
                                         Note and the other Loan Documents must be submitted to and approved by the SBA. There
                                         is limited funding available under the Paycheck Protection Program and accordingly, all
                                         applications submitted will not be approved by the SBA.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Lender
                                         is participating in the Payroll Protection Program to help businesses impacted by the
                                         economic impact from COVID-19. However, Lender anticipates high volumes and there may
                                         be processing delays and system failures along with other issues that interfere with
                                         submission of Borrower&rsquo;s application to SBA. Lender does not represent or guarantee
                                         that it will submit the application while SBA funding remains available under the Payroll
                                         Protection Program or at all. Borrower hereby agrees that Lender is not responsible or
                                         liable to Borrower or any of its affiliates (i) if the Lender does not submit Borrower&rsquo;s
                                         application to the SBA until after the date that SBA stops approving applications
under the Paycheck Protection Program, for any reason or (ii) if the application is not processed by Lender. Borrower forever
releases and waives any claims against Lender, its affiliates and their respective directors, officers, agents and employees concerning
failure to obtain the Loan. This release and waiver applies to, but is not limited to, any claims concerning Lender&rsquo;s (i)
pace, manner or systems for processing or prioritizing applications, or (ii) representations by Lender regarding the application
process, the Paycheck Protection Program, or availability of funding. This agreement to release and waiver supersedes any prior
communications, understandings, agreements or communications on the issues set forth herein.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Forgiveness
                                         of the Loan is only available for principal that is used for the limited purposes that
                                         expressly qualify for forgiveness under SBA requirements, and that to obtain forgiveness,
                                         Borrower must request forgiveness from the Lender, provide documentation in accordance
                                         with the SBA requirements, and certify that the amounts Borrower is requesting to be
                                         forgiven qualify under those requirements. Borrower also understands that Borrower shall
                                         remain responsible under the Loan for any amounts not forgiven, and that interest payable
                                         under the Loan will not be forgiven, but that the SBA may pay the Loan interest on forgiven
                                         amounts.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Forgiveness
                                         of the Loan is not automatic and Borrower must request forgiveness of the Loan from Lender.
                                         Borrower is not relying on Lender for its understanding of the requirements for forgiveness
                                         such as eligible expenditures, necessary records/documentation, or possible reductions
                                         due to changes in number of employees or compensation. Borrower agrees that will consult
                                         the SBA&rsquo;s program materials and consult with its own counsel regarding the criteria
                                         forgiveness.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
                                         Loan Documents are subject to review, and Borrower may not receive the Loan. The Loan
                                         also remains subject to availability of funds under the SBA&rsquo;s Payment Protection
                                         Program, and to the SBA issuing an SBA loan number.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Borrower&rsquo;s
                                         liability under this Note will continue with respect to any amounts SBA may pay Bank
                                         based on an SBA guarantee of this Note. Any agreement with Bank under which SBA may guarantee
                                         this Note does not create any third party rights or benefits for Borrower and, if SBA
                                         pays Bank under such an agreement, SBA or Bank may then seek recovery from Borrower of
                                         amounts paid by SBA.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Lender
                                         reserves the right to modify the Note Amount based on documentation received from Borrower.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Borrower&rsquo;s
                                         execution of this Note has been duly authorized by all necessary actions of its governing
                                         body. The person signing this Note is duly authorized to do so on behalf of Borrower.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">This
                                         Note shall not be governed by any existing or future credit agreement or loan agreement
                                         with Lender. The liabilities guaranteed pursuant to any existing or future guaranty in
                                         favor of Lender shall not include this Note. The liabilities secured by any existing
                                         or future security instrument in favor of Lender shall not include the Loan.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 36pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
                                         proceeds of the Loan will be used to retain workers and maintain payroll or make mortgage
                                         interest payments, lease payments, and utility payments, as specified under the Paycheck
                                         Protection Program Rule. Borrower understands that if the funds are knowingly used for
                                         unauthorized purposes, the federal government may hold Borrower legally liable, such
                                         as for charges of fraud.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><U>Electronic Execution
of Loan Documents.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">The
words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature&rdquo; and words of like import in this Note and any Loan
Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be
of the same legal effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping
systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state
law based on the Uniform Electronic Transactions Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify; padding-right: 412.3pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">DEFAULT:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Borrower
is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower or Operating Company:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Fails
                                         to do anything required by this Note and other Loan Documents;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">B.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Defaults
                                         on any other loan with Lender;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">C.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Does
                                         not preserve, or account to Lender&rsquo;s satisfaction for, any of the Collateral or
                                         its proceeds;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">D.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Does
                                         not disclose, or anyone acting on their behalf does not disclose, any material fact to
                                         Lender or SBA;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Makes,
                                         or anyone acting on their behalf makes, a materially false or misleading representation
                                         to Lender or SBA;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">F.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Defaults
                                         on any loan or agreement with another creditor, if Lender believes the default may materially
                                         affect Borrower&rsquo;s ability to pay this Note;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">G.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Fails
                                         to pay any taxes when due;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">H.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Becomes
                                         the subject of a proceeding under any bankruptcy or insolvency law;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">I.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Has
                                         a receiver or liquidator appointed for any part of their business or property;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">J.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Makes
                                         an assignment for the benefit of creditors;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">K.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Has
                                         any adverse change in financial condition or business operation that Lender believes
                                         may materially affect Borrower&rsquo;s ability to pay this Note;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">L.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Reorganizes,
                                         merges, consolidates, or otherwise changes ownership or business structure without Lender&rsquo;s
                                         prior written consent; or</FONT></TD></TR></TABLE>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">M.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Becomes
                                         the subject of a civil or criminal action that Lender believes may materially affect
                                         Borrower&rsquo;s ability to pay this Note.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">LENDER&rsquo;S
                                         RIGHTS IF THERE IS A DEFAULT.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Without
notice or demand and without giving up any of its rights, Lender may:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Require
                                         immediate payment of all amounts owing under this Note;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">B.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Collect
                                         all amounts owing from any Borrower or Guarantor;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">C.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">File
                                         suit and obtain judgment.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">D.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Take
                                         possession of any Collateral; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="padding-right: 35.35pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Sell,
                                         lease, or otherwise dispose of, any Collateral at public or private sale, with or without
                                         advertisement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">LENDER&rsquo;S
                                         GENERAL POWERS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Without
notice and without Borrower&rsquo;s consent, Lender may:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">A.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Bid
                                         on or buy the Collateral at its sale or the sale of another lienholder, at any price
                                         it chooses;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">B.</FONT></TD><TD STYLE="padding-right: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Incur
                                         expenses to collect amounts due under this Note, enforce the terms of this Note or any
                                         other Loan Document, and preserve or dispose of the Collateral. Among other things, the
                                         expenses may include payments for property taxes, prior liens, insurance, appraisals,
                                         environmental remediation costs, and reasonable attorney&rsquo;s fees and costs. If Lender
                                         incurs such expenses, it may demand immediate repayment from Borrower or add the expenses
                                         to the principal balance;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">C.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Release
                                         anyone obligated to pay this Note;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">D.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Compromise,
                                         release, renew, extend or substitute any of the Collateral; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Take
                                         any action necessary to protect the Collateral or collect amounts owing on this Note.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: justify; padding-right: 144.7pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">WHEN
                                         FEDERAL LAW APPLIES; GOVERNING LAW; FORUM SELECTION.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">When
SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may
use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By
using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to
this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA,
or preempt federal law.</FONT></P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
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    <!-- Field: /Page -->



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">SUCCESSORS
                                         AND ASSIGNS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Under this Note, Borrower
and Operating Company includes its successors, and Lender includes its successors and assigns.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">GENERAL
                                         PROVISIONS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.95pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">All
                                         individuals and entities signing this Note are jointly and severally liable.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">B.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Borrower
                                         waives all suretyship defenses.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">C.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Borrower
                                         must sign all documents necessary at any time to comply with the Loan Documents and to
                                         enable Lender to acquire, perfect, or maintain Lender&rsquo;s liens on Collateral.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">D.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Lender
                                         may exercise any of its rights separately or together, as many times and in any order
                                         it chooses. Lender may delay or forgo enforcing any of its rights without giving up any
                                         of them.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; text-align: left; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Borrower may not use an oral
statement of Lender or SBA to contradict or alter the written terms of this Note.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">E.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">If
                                         any part of this Note is unenforceable, all other parts remain in effect.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">F.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">To
                                         the extent allowed by law, Borrower waives all demands and notices in connection with
                                         this Note, including presentment, demand, protest, and notice of dishonor. Borrower also
                                         waives any defenses based upon any claim that Lender did not obtain any guarantee; did
                                         not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did
                                         not obtain the fair market value of Collateral at a sale.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">STATE-SPECIFIC
                                         PROVISIONS:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">If
the SBA is not the holder, this Note shall be governed by and construed in accordance with the laws of the State of
California where the main office of Lender is located. MATTERS REGARDING INTEREST TO BE CHARGED BY LENDER AND THE EXPORTATION
OF INTEREST SHALL BE GOVERNED BY FEDERAL LAW (INCLUDING WITHOUT LIMITATION 12 U.S.C. SECTIONS 85 AND 1831(u) AND THE LAW OF
THE STATE OF CALIFORNIA. Borrower agrees that any legal action or proceeding with respect to any of its obligations under
this Note may be brought by Lender in any state or federal court located in the State of California, as Lender in its sole
discretion may elect. Borrower submits to and accepts in respect of its property, generally and unconditionally, the
non-exclusive jurisdiction of those courts. Borrower waives any claim that the State of California is not a convenient forum
or the proper venue for any such suit, action or proceeding. The extension of credit that is the subject of this Note is
being made by Lender in California.</FONT></P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>

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    <!-- Field: /Page -->



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">BORROWER&rsquo;S
                                         NAME(S) AND SIGNATURE(S).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">BORROWER
CERTIFIES THAT THE INFORMATION PROVIDED IN THIS APPLICATION AND THE INFORMATION PROVIDED IN ALL SUPPORTING DOCUMENTS AND
FORMS IS TRUE AND ACCURATE IN ALL MATERIAL RESPECTS. BORROWER UNDERSTANDS THAT KNOWINGLY MAKING A FALSE STATEMENT TO OBTAIN A
GUARANTEED LOAN FROM SBA IS PUNISHABLE UNDER THE LAW, INCLUDING UNDER 18 USC 1001 AND 3571 BY IMPRISONMENT OF NOT MORE THAN
FIVE YEARS AND/OR A FINE OF UP TO $250,000; UNDER 15 USC 645 BY IMPRISONMENT OF NOT MORE THAN TWO YEARS AND/OR A FINE OF NOT
MORE THAN $5,000; AND, IF SUBMITTED TO A FEDERALLY INSURED INSTITUTION, UNDER 18 USC 1014 BY IMPRISONMENT OF NOT MORE THAN
THIRTY YEARS AND/OR A FINE OF NOT MORE THAN $1,000,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">By
signing below, each individual or entity becomes obligated under this Note as Borrower.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Funds will be
credited to your Deposit</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Account Number ending
in:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-weight: normal; padding: 0; text-indent: 0"></TD><TD STYLE="padding: 0; text-indent: 0; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0; width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><B>BORROWER:</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding: 0 0 1pt; text-indent: 0"></TD><TD STYLE="font-weight: bold; padding: 0 0 1pt; text-indent: 0">By:</TD>
    <TD STYLE="font-weight: bold; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0"><IMG SRC="modular001.jpg" ALT="">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding: 0 0 1pt; text-indent: 0"></TD><TD STYLE="padding: 0 0 1pt; text-indent: 0"><B>Name:</B>&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">paul diperna</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding: 0 0 1pt; text-indent: 0"></TD><TD STYLE="font-weight: bold; padding: 0 0 1pt; text-indent: 0">Title:</TD>
    <TD STYLE="text-align: left; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">Authorized Signer</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0 0 1pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0 0 1pt; text-indent: 0"><B>Date</B>:</TD>
    <TD STYLE="text-align: left; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">4/23/2020</TD></TR>
</TABLE>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; color: #FF8B00"><FONT STYLE="font-size: 10pt">SVB Confidential</FONT></P>


    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>



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