<SEC-DOCUMENT>0001387131-18-001815.txt : 20180427
<SEC-HEADER>0001387131-18-001815.hdr.sgml : 20180427
<ACCEPTANCE-DATETIME>20180427170453
ACCESSION NUMBER:		0001387131-18-001815
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180625
FILED AS OF DATE:		20180427
DATE AS OF CHANGE:		20180427
EFFECTIVENESS DATE:		20180427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TherapeuticsMD, Inc.
		CENTRAL INDEX KEY:			0000025743
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				870233535
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00100
		FILM NUMBER:		18785343

	BUSINESS ADDRESS:	
		STREET 1:		6800 BROKEN SOUND PARKWAY NW
		STREET 2:		THIRD FLOOR
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
		BUSINESS PHONE:		561-961-1911

	MAIL ADDRESS:	
		STREET 1:		6800 BROKEN SOUND PARKWAY NW
		STREET 2:		THIRD FLOOR
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMHN, Inc.
		DATE OF NAME CHANGE:	20090930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF ENTERPRISES INC
		DATE OF NAME CHANGE:	19970915

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF OIL CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>txmd-def14a_062518.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
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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 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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STATES</B></P>

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AND EXCHANGE COMMISSION</B></P>

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DC 20549</B></P>

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14A</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 12pt; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>Proxy
Statement Pursuant to Section 14(a) of the</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>Securities
Exchange Act of 1934</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>(Amendment
No.&nbsp;&nbsp;&nbsp;&nbsp; )</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="line-height: 6pt; margin-top: 0; margin-bottom: 2pt">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 12pt; margin-bottom: 0; background-color: rgb(255, 255, 255)">Filed
by the Registrant&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Filed by a party other than the Registrant&nbsp;&nbsp;&#9744;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 12pt; margin-bottom: 0; background-color: rgb(255, 255, 255)">Check
the appropriate box:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 96%">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Preliminary Proxy Statement</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9746;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Definitive Proxy Statement</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Definitive Additional Materials</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Soliciting Material Pursuant to &sect;240.14a-12</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 18pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 18pt; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>TherapeuticsMD,
Inc.</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>(Name
of Registrant as Specified in its Charter)</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 18pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)"><B>(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 18pt; margin-bottom: 0; background-color: rgb(255, 255, 255)">Payment
of Filing Fee (Check the appropriate box):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; background-color: rgb(255, 255, 255); border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9746;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top">No fee required.</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Title of each class of securities to which
        transaction applies:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Aggregate number of securities to which transaction
        applies:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Per unit price or other underlying value of
        transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how
        it was determined):</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Proposed maximum aggregate value of transaction:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">5)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Total fee paid:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top">Fee paid previously with preliminary materials.</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top">&#9744;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Amount previously paid:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Form, Schedule or Registration Statement No.:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Filing party:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Date Filed:</P>
        <P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; margin-top: 0; margin-bottom: 0; background-color: rgb(255, 255, 255)">&nbsp;<FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>
<P STYLE="margin: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="txmd001.jpg" ALT="">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS<BR>
TO BE HELD ON JUNE 25, 2018</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An Annual Meeting of
Stockholders of TherapeuticsMD, Inc., a Nevada corporation, will be held at 8:00&nbsp;a.m., local time, on Monday, June 25, 2018,
at the Renaissance Boca Raton Hotel, 2000 NW 19th Street, Boca Raton, Florida 33431, for the following purposes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
elect directors to serve until our next annual meeting of stockholders or until their successors are duly elected and qualified;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
approve, on a non-binding advisory basis, the compensation of our named executive officers for the fiscal year ended December 31,
2017 (&ldquo;say-on-pay&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
ratify the appointment of Grant Thornton LLP, or Grant Thornton, an independent registered public accounting firm, as the independent
auditor of our company for the fiscal year ending December&nbsp;31, 2018; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
transact such other business as may properly come before the meeting or any adjournment thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing items
of business are more fully described in the proxy statement accompanying this notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Only stockholders of
record at the close of business on April 26, 2018 are entitled to notice of and to vote at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All stockholders are
cordially invited to attend the meeting and vote in person. To assure your representation at the meeting, however, we urge you
to vote by proxy as promptly as possible over the Internet or by telephone as instructed in the Notice of Internet Availability
of Proxy Materials or, if you receive paper copies of the proxy materials by mail, you can also vote by mail by following the instructions
on the proxy card. You may revoke your proxy and vote in person at the meeting even if you have previously returned a proxy.</P>

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

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By Order of the Board of Directors,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>/s/ John C.K. Milligan, IV</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JOHN C.K. MILLIGAN, IV</P>

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

</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 27, 2018</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>Page</U></B></P>

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda001">VOTING AND OTHER MATTERS</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">3</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda002">PROPOSAL ONE&nbsp; ELECTION OF DIRECTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">7</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda003">CORPORATE GOVERNANCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda004">COMPENSATION DISCUSSION AND ANALYSIS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda005">EXECUTIVE COMPENSATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda006">EQUITY COMPENSATION PLAN INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda007">CERTAIN TRANSACTIONS AND RELATIONSHIPS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">39</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda008">COMPENSATION COMMITTEE REPORT</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">40</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda009">DIRECTOR COMPENSATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">41</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda010">REPORT OF THE AUDIT COMMITTEE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">42</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda011">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">43</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda012">SECURITY OWNERSHIP OF PRINCIPAL STOCKHOLDERS, DIRECTORS, AND OFFICERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">44</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda013">PROPOSAL TWO&nbsp; ADVISORY VOTE ON EXECUTIVE COMPENSATION (&ldquo;SAY-ON-PAY&rdquo;)</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda014">PROPOSAL THREE&nbsp; RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda015">DEADLINE FOR RECEIPT OF STOCKHOLDER PROPOSALS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda016">HOUSEHOLDING OF PROXY MATERIALS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -12.25pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt"><A HREF="#txmda017">OTHER MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">50</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="txmd001.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>6800 Broken Sound Parkway NW, Third Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Boca Raton, Florida 33487</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 8pt; padding-bottom: 8pt; text-align: center"><B>PROXY STATEMENT</B></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="txmda001"></A>VOTING AND OTHER MATTERS</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The accompanying proxy
is solicited on behalf of TherapeuticsMD, Inc., a Nevada corporation, by our Board of Directors for use at our Annual Meeting of
Stockholders to be held at 8:00 a.m., local time, on Monday, June 25, 2018, or at any adjournment thereof, for the purposes set
forth in this proxy statement and in the accompanying notice. The meeting will be held at the Renaissance Boca Raton Hotel located
at 2000 NW 19<SUP>th</SUP> Street, Boca Raton, Florida&nbsp;33431.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with
rules adopted by the Securities and Exchange Commission, or the SEC, that allow companies to furnish their proxy materials over
the Internet, we are mailing a Notice of Internet Availability of Proxy Materials instead of a paper copy of our proxy statement
and our 2017 Annual Report to most of our stockholders. The Notice of Internet Availability of Proxy Materials contains instructions
on how to access those documents and vote over the Internet. The Notice of Internet Availability of Proxy Materials also contains
instructions on how to request a paper copy of our proxy materials, including our proxy statement, our 2017 Annual Report, and
a proxy card. We believe this process will allow us to provide our stockholders the information they need in a more timely manner,
while reducing the environmental impact and lowering our costs of printing and delivering the proxy materials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These proxy solicitation
materials were first distributed on or about May 4, 2018 to all stockholders entitled to vote at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Important Notice
Regarding the Availability of Proxy Materials for the Stockholder Meeting To Be Held on June 25, 2018</B>. These proxy materials,
which include the notice of annual meeting, this proxy statement, and our 2017 Annual Report for the fiscal year ended December
31, 2017, are available at <I>www.proxyvote.com</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Record Date and Outstanding Shares</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stockholders of
record at the close of business on April 26, 2018 are entitled to notice of and to vote at the meeting. On the record date,
there were issued and outstanding 216,584,274 shares of our common stock. Each holder of common stock voting at the meeting,
either in person or by proxy, may cast one vote per share of common stock held on all matters to be voted on at the
meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If, at the close of
business on April 26, 2018, your shares were registered directly in your name with our transfer agent, Computershare Trust Company,
N.A., then you are a stockholder of record. As a stockholder of record, you may vote in person at the meeting. However, whether
or not you plan to attend the meeting, we urge you to vote by proxy over the Internet or by telephone as instructed on the Notice
of Internet Availability of Proxy Materials, or to fill out and return the proxy card to ensure your vote is counted. Even if you
have submitted a proxy before the meeting, you may still attend the meeting, revoke your proxy and vote in person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If, at the close of
business on April 26, 2018, your shares were held in an account at a brokerage firm, bank, or similar organization, then you are
the beneficial owner of shares held in &ldquo;street name&rdquo; and these proxy materials are being forwarded to you by that organization.
The organization holding your account is considered the stockholder of record for purposes of voting at the meeting. As a beneficial
owner, you have the right to direct your broker, bank, or other nominee on how to vote the shares in your account. You should have
received voting instructions with these proxy materials from that organization rather than from us. You should follow the instructions
provided by that organization to submit your vote. You are also invited to attend the meeting in person. However, since you are
not the stockholder of record, you may not vote your shares in person at the meeting unless you obtain a &ldquo;legal proxy&rdquo;
from the broker, bank, or other nominee that holds your shares giving you the right to vote the shares at the meeting.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The presence, in person
or by proxy, of the holders of a majority of the total number of shares entitled to vote constitutes a quorum for the transaction
of business at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Required Votes</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assuming that a quorum
is present, the ten persons receiving the largest number of &ldquo;for&rdquo; votes of our common stock present in person or by
proxy at the meeting and entitled to vote (a plurality) will be elected directors. Stockholders do not have the right to cumulate
their votes in the election of directors. We have adopted a majority voting policy as part of our Corporate Governance Guidelines.
The majority voting policy is applicable solely to uncontested elections, which are those elections in which the number of nominees
for election is less than or equal to the number of directors to be elected. Under the majority voting policy, any nominee for
director who receives more &ldquo;withheld&rdquo; votes than &ldquo;for&rdquo; votes in an uncontested election must submit a written
offer to resign as director. Any such resignation will be reviewed by the Nominating and Corporate Governance Committee and, within
90 days after the election, the independent members of our Board of Directors will determine whether to accept, reject or take
other appropriate action with respect to, the resignation, in furtherance of the best interests of TherapeuticsMD and our stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assuming that a quorum
is present, the affirmative vote of a majority of the votes cast will be required to ratify the appointment of Grant Thornton as
the independent auditor of our company for the fiscal year ending December 31, 2018. The advisory vote on the compensation of our
named executive officers for the fiscal year ended December 31, 2017 (&ldquo;say-on-pay&rdquo;) is non-binding, but our Board of
Directors and our Compensation Committee of the Board of Directors, or the Compensation Committee, will consider the input of stockholders
based on a majority of votes cast.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Votes cast by proxy
or in person at the meeting will be tabulated by the election inspector appointed for the meeting who will determine whether a
quorum is present. The election inspector will treat abstentions as shares that are present and entitled to vote for purposes of
determining the presence of a quorum, but as unvoted for purposes of determining the approval of any matter submitted to the stockholders
for a vote. If a brokerage firm, bank, or similar organization indicates on the proxy that it does not have discretionary authority
as to certain shares to vote on a particular matter, those shares will not be considered as present and entitled to vote with respect
to that matter.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When a proxy is properly
executed and returned, the shares it represents will be voted at the meeting as directed. If no specification is indicated, the
shares will be voted (1) &ldquo;for&rdquo; the election of each of the ten nominees for director set forth in this proxy statement,
(2) &ldquo;for&rdquo; the approval of the compensation of our named executive officers for the fiscal year ended December 31, 2017,
(3) &ldquo;for&rdquo; the ratification of the appointment of Grant Thornton, an independent registered public accounting firm,
as the independent auditor of our company for the fiscal year ending December 31, 2018, and (4) as the persons specified in the
proxy deem advisable on such other matters as may come before the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Broker Non-Votes and Abstentions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Brokers, banks, or
other nominees that hold shares of common stock in &ldquo;street name&rdquo; for a beneficial owner of those shares typically have
the authority to vote in their discretion if permitted by the stock exchange or other organization of which they are members. Brokers,
banks, and other nominees are permitted to vote the beneficial owner&rsquo;s proxy in their own discretion as to certain &ldquo;routine&rdquo;
proposals when they have not received instructions from the beneficial owner, such as the ratification of the appointment of Grant
Thornton as the independent auditor of our company for the fiscal year ending December 31, 2018. If a broker, bank, or other nominee
votes such &ldquo;uninstructed&rdquo; shares for or against a &ldquo;routine&rdquo; proposal, those shares will be counted towards
determining whether or not a quorum is present and are considered entitled to vote on the &ldquo;routine&rdquo; proposals. However,
where a proposal is &ldquo;non-routine,&rdquo; a broker, bank, or other nominee is not permitted to exercise its voting discretion
on that proposal without specific instructions from the beneficial owner. These non-voted shares are referred to as &ldquo;broker
non-votes&rdquo; when the nominee has voted on other non-routine matters with authorization or voted on routine matters. These
shares will be counted towards determining whether or not a quorum is present, but will not be considered entitled to vote on the
&ldquo;non-routine&rdquo; proposals.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Please note that
brokers, banks, and other nominees may not use discretionary authority to vote shares on the election of directors or the approval
of the compensation of our named executive officers if they have not received specific instructions from their clients. For your
vote to be counted in the above, you now will need to communicate your voting decisions to your broker, bank, or other nominee
before the date of the meeting.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As provided in our
bylaws, as amended, a majority of the votes cast means that the number of votes cast &ldquo;for&rdquo; a proposal exceeds the number
of votes cast &ldquo;against&rdquo; that proposal. Because abstentions and broker non-votes do not represent votes cast &ldquo;for&rdquo;
or &ldquo;against&rdquo; a proposal, broker non-votes and abstentions will have no effect on the proposal to elect directors, the
say-on-pay proposal, or the proposal to ratify the appointment of Grant Thornton as the independent auditor of our company for
the fiscal year ending December 31, 2018, as each such proposal is determined by reference to the votes actually cast by the shares
present or represented by proxy and entitled to vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Revocability of Proxies</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any stockholder giving
a proxy may revoke the proxy at any time before its use by furnishing to us either a written notice of revocation or a duly executed
proxy bearing a later date, or by attending the meeting and voting in person. Attendance at the meeting will not cause your previously
granted proxy to be revoked unless you specifically so request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Election Inspector</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Votes cast by proxy
or in person at the meeting will be tabulated by the election inspector appointed for the meeting, who will determine whether a
quorum is present. The election inspector will treat broker non-votes and abstentions as shares that are present and entitled to
vote for purposes of determining the presence of a quorum, and as described in the &ldquo;Broker Non-Votes and Abstentions&rdquo;
section of this proxy statement for purposes of determining the approval of any matter submitted to the stockholders for a vote.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will bear the cost
of this solicitation. In addition, we may reimburse brokerage firms and other persons representing beneficial owners of shares
for expenses incurred in forwarding solicitation materials to such beneficial owners. Proxies also may be solicited by certain
of our directors and officers, personally or by telephone or e-mail, without additional compensation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Annual Report and Other Matters</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our 2017 Annual Report
on Form 10-K, which was made available to stockholders with or preceding this proxy statement, contains financial and other information
about our company, but, except as indicated therein, is not incorporated into this proxy statement and is not to be considered
a part of these proxy materials or subject to Regulations 14A or 14C or to the liabilities of Section 18 of the Securities Exchange
Act of 1934, as amended, or the Exchange Act. The information contained in the &ldquo;Compensation Committee Report&rdquo; and
the &ldquo;Report of the Audit Committee&rdquo; shall not be deemed &ldquo;filed&rdquo; with the SEC or subject to Regulations
14A or 14C or to the liabilities of Section 18 of the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Through our website,
<I>www.therapeuticsmd.com</I>, we make available free of charge all of our SEC filings, including our proxy statements, our annual
reports on Form 10-K, our quarterly reports on Form 10-Q, and our current reports on Form 8-K, as well as Form 3, Form 4, and Form
5 reports of our directors, officers, and principal stockholders, together with amendments to these reports filed or furnished
pursuant to Sections 13(a), 15(d), or 16 of the Exchange Act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>We will provide,
without charge, a printed copy of our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 as filed with the
SEC to each stockholder that requests a copy in writing. Any exhibits listed in the Form 10-K report also will be furnished upon
request at the actual expense incurred by us in furnishing such exhibits. Any such requests should be directed to our company&rsquo;s
secretary at our executive offices set forth in this proxy statement.</B></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U><A NAME="txmda002"></A>PROPOSAL ONE</U><BR>
<BR>
ELECTION OF DIRECTORS</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
articles of incorporation and bylaws, each as amended, provide that the number of directors shall be fixed from time to time by
resolution of our Board of Directors. Presently, the number of directors is fixed at ten. Our bylaws, as amended, provide that
all directors are elected at each annual meeting of our stockholders for a term of one year and hold office until their successors
are elected and qualified.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A board of ten directors
is to be elected at this meeting. Unless otherwise instructed, the proxy holders will vote the proxies received by them &ldquo;for&rdquo;
each of the nominees named below. All of the nominees currently are directors of our company. In the event that any nominee is
unable or declines to serve as a director at the time of the meeting, the proxies will be voted for any nominee designated by our
current Board of Directors to fill the vacancy. It is not expected that any nominee will be unable or will decline to serve as
a director.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assuming that a quorum
is present, the ten persons receiving the largest number of &ldquo;for&rdquo; votes of our common stock present in person or by
proxy at the meeting and entitled to vote (a plurality) will be elected directors, subject to the majority voting policy in our
Corporate Governance Guidelines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THE BOARD OF DIRECTORS
UNANIMOUSLY RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE NOMINEES LISTED BELOW.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth certain information regarding the nominees for directors of our company.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 94%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-right: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Name</B></P></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Age</B></P></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Position</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Tommy G. Thompson </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">76</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chairman of the Board <SUP>(1)(2)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Robert G. Finizio </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">48</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">John C.K. Milligan, IV </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">55</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">President, Secretary and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Brian Bernick, M.D. </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">49</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chief Clinical Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Jane F. Barlow, M.D., M.B.A, M.P.H. </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">57</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">J. Martin Carroll </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">68</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director <SUP>(1)(2)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Cooper C. Collins </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">39</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director <SUP>(2)(3)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Robert V. LaPenta, Jr. </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">49</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director <SUP>(1)(3)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Jules A. Musing </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">70</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Angus C. Russell </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">62</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director <SUP>(3)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Nicholas Segal </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">35</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Director <SUP>(3)</SUP></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Member of Nominating and Corporate Governance Committee.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Member of the Compensation Committee.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Member of the Audit Committee.</TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Tommy G. Thompson</I>
has served as the Chairman of the Board of Directors of our company since May&nbsp;2012. Mr. Thompson currently serves as the Chief
Executive Officer of Thompson Holdings, a consulting firm. As the Governor of Wisconsin from January 1987 to February 2001, Secretary
Thompson was perhaps best known for his efforts to revitalize the Wisconsin economy, for his national leadership on welfare reform,
and for his work toward expanding health care access across all segments of society. As the former Secretary of the U.S.&nbsp;Department
of Health &amp; Human Services, or HHS, from February 2001 to January 2005, Secretary Thompson served as the nation&rsquo;s leading
advocate for the health and welfare of all Americans. Secretary Thompson was a partner in the law firm of Akin Gump Strauss Hauer
&amp; Feld LLP, or Akin Gump, from March 2005 to January 2012, when he resigned to run for the United States Senate. Secretary
Thompson served as an Independent Chairman of the Deloitte Center for Health Solutions, a health care consulting company, from
March&nbsp;2005 to May 2009. At the Deloitte Center for Health Solutions and at Akin Gump, Secretary Thompson built on his efforts
at HHS to work toward developing solutions to the health care challenges facing American families, businesses, communities, states,
and the nation as a whole. Secretary Thompson has also served as the President of Logistics Health, Inc., a provider of medical
readiness and homeland security solutions, from February 2005 to January 2011. Secretary Thompson has served as a Senior Fellow
for the Bipartisan Policy Center, a non-profit organization focused on bipartisan advocacy and policymaking, since July 2013. Secretary
Thompson also serves as a member of the board of directors for the following public companies: Centene Corporation [NYSE: CNC],
United Therapeutics Corporation [NASDAQ: UTHR] and Physicians Realty Trust [NYSE: DOC]. Secretary Thompson also served as a member
of the boards of directors of C. R. Bard, Inc. [NYSE: BCR] from August 2005 to January 2018, Cytori Therapeutics, Inc. [NASDAQ:&nbsp;CYTX]
from April 2011 to May 2016, CareView Communications, Inc. [OTCQB:&nbsp;CRVW] from July 2005 to January 2014, Cancer Genetics,
Inc. [NASDAQ:&nbsp;CGIX] from 2008 to January 2014, Pure Bioscience, Inc. [NASDAQ: PURE] from February 2006 to August 2009, SpectraScience,
Inc. [OTCBB: SCIE] from September&nbsp;2007 to December 2009, AGA Medical Holdings, Inc. [NASDAQ: AGAM] from August 2005 to November
2010, CNS Response, Inc. [OTCBB:&nbsp;CNSO.OB] from August 2009 to March 2010, and Tyme Technologies, Inc. [OTCMKTS: TYMI] from
May 2016 to February 2017. We believe Secretary Thompson&rsquo;s experience in public service, particularly his services and knowledge
related to the health care industry as a whole, makes him well suited to serve on our Board of Directors. Secretary Thompson received
both his B.S.&nbsp;and J.D. from the University of Wisconsin-Madison.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Robert G. Finizio</I>
has served as Chief Executive Officer and a director of our company since October 2011. As co-founder of VitaMedMD, LLC, or VitaMed,
our wholly owned subsidiary, Mr. Finizio served as its Chief Executive Officer and a director from April 2008 to October 2011.
Mr. Finizio has 16 years of successful early stage company development experience in the health care industry. Mr. Finizio co-founded
and served from August&nbsp;2001 to February 2008 as President of Care Fusion, LLC and then as Chief Executive Officer of CareFusion,&nbsp;Inc.,
a clinical technology vendor, which was acquired by Cardinal Health, Inc. Mr. Finizio&rsquo;s early business experience was with
Omnicell, Inc. (formerly known as Omnicell Technologies, Inc.), a provider of pharmaceutical supply chain management systems and
services, and Endoscopy Specialists, Inc. in the health care IT and surgical space. We believe Mr. Finizio&rsquo;s intimate knowledge
and experience with all aspects of the business, operations, opportunities, and challenges of our company and experience with early
stage company development in the health care industry provide the requisite qualifications, skills, perspectives, and experience
that make him well qualified to serve on our Board of Directors. Mr. Finizio earned a B.A. from the University of Miami.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>John C.K. Milligan,
IV</I> has served as President, Secretary, and a director of our company since October&nbsp;2011. From December 2008 to October
2011, Mr. Milligan served as President and director of VitaMed. Prior to VitaMed, Mr. Milligan co-founded CareFusion, LLC, serving
as President and General Manager from August 2001 to February 2008, and then as President and Chief Operating Officer of CareFusion,
Inc. From 1997 to 2001, Mr.&nbsp;Milligan was Vice President, Sales and Operations for Omnicell, Inc. Prior to Omnicell, Mr. Milligan
also held executive management positions at Serving Software Inc. and HBO &amp; Co., a health care information systems company,
both of which were subsequently acquired by McKesson Corporation. We believe Mr.&nbsp;Milligan&rsquo;s significant experience in
creating, developing and guiding growth-oriented health care companies and knowledge of our business provide the requisite qualifications,
skills, perspectives, and experience that make him well qualified to serve on our Board of Directors. Mr. Milligan is a graduate
of the U.S. Naval Academy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dr. Brian Bernick</I>
has served as a director of our company since October 2011. Dr. Bernick also has served as the Chief Clinical Officer of our company
since November 2013, and as the Chief Medical Officer of our company from February 2012 until November 2013. As co-founder of VitaMed,
Dr. Bernick served as a director of VitaMed from April 2008 to October 2011. Dr. Bernick is a board- certified obstetrician/gynecologist
with over 20 years of clinical medical experience. Dr. Bernick was the Department Chair of Obstetrics and Gynecology at Boca Raton
Regional Hospital and served on that hospital&rsquo;s Medical Executive Board as well as the Board of Directors of the Palm Beach
Medical Society and VitalMD Group Holding, LLC, one of the largest physician-owned and -managed obstetricians/gynecologists groups
in Florida. Dr. Bernick has served on the American College of Obstetricians and Gynecologists&rsquo; (ACOG) national committee
on Professional Liability. Dr. Bernick is the recipient of several national and regional awards, including recognition by his peers
as one of the top doctor&rsquo;s in his specialty by Castle Connolly as well as the recipient of the American Medical Association
Foundation&rsquo;s Leadership Award. Dr. Bernick has numerous publications in peer-reviewed journals and has presented original
research at numerous medical conferences. Dr. Bernick is an affiliate associate professor of obstetrics and gynecology at Florida
Atlantic University College of Medicine. Dr. Bernick holds a B.A. in Economics from Northwestern University, received his Doctorate
in Medicine from the Chicago Medical School, and completed his residency at the University of Pennsylvania.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dr. Jane
F. Barlow</I> has served as a director of our company since March 2018. Dr. Barlow is currently the Chief Executive Officer
of Jane Barlow &amp; Associates, LLC, a consulting firm focused on pharmaceuticals, diagnostics, devices and health
services. She is also the Executive Vice President and Chief Clinical Officer of Real Endpoints, a data, analytics, and
advisory firm, and is a Senior Advisor to the MIT Center for Biomedical Innovation Project on Financing of Curative Therapies
in the U.S. Before starting her own firm, Dr. Barlow served as Associate Chief Medical Officer for CVS Health from 2013 to
2016 and served as Vice President, Clinical Innovation at Medco Health Solutions, Inc. from 2011 to 2012, Vice President,
Medical Strategy &amp; Precision Health Solutions from 2009 to 2011 and Vice President, Medical Strategy &amp; Clinical
Quality from 2007 to 2009. From 2000 to 2007, Dr. Barlow was a senior health management leader at IBM. Dr. Barlow has
previously served on the board of directors for a number of organizations, including SilverScript Insurance Company,
Pennsylvania Life Insurance Company, and Accendo Insurance Company. We believe Dr. Barlow&rsquo;s healthcare industry
knowledge and executive experience provide the requisite qualifications, skills, perspectives, and experience that make her
well qualified to serve on our Board of Directors. Dr. Barlow attended medical school at Creighton University and completed
her residency training in occupational medicine at Johns Hopkins University. She holds masters&rsquo; degrees in business
administration and public health and is a Certified Physician Executive with a certificate in Health Information Technology
from the American Association of Physician Leaders. Dr. Barlow is board-certified in occupational medicine and is a fellow of
both the American College of Occupational and Environmental Medicine and the American College of Preventive Medicine.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>J. Martin Carroll</I>
has served as a director of our company since March 2015. Mr. Carroll previously served as President and Chief Executive Officer
of Boehringer Ingelheim Corp. (U.S.) from 2003 until 2011. He also served as global head of strategy and development for Boehringer
Ingelheim (Germany) from 2009 through 2012 and served as Chairman of the Board for a number of Boehringer Ingelheim companies.
Previously, Mr. Carroll held positions of increasing responsibility with Merck &amp; Co. Inc. from 1976 to 2001, including manufacturing,
international (Japan) and marketing and sales. He left Merck serving as its Executive Vice President for Customer Marketing and
Sales of the U.S. Human Health Division. From 1972 to 1976, Mr. Carroll served in the United States Air Force. Mr. Carroll has
previously served on the board of directors for a number of organizations, including Accredo Health Group Inc., Vivus Inc. [NASDAQ:
VVUS], Durata Therapeutics Inc. [NASDAQ: DRTX], and Gwynedd Mercy College, as well as PhRMA. He currently serves as a director
of Mallinckrodt PLC [NYSE: MNK] and Catalent, Inc. [NYSE: CTLT] and previously served as a director of and Inotek Pharmaceuticals
Corporation [NASDAQ: ITEK] from 2016 until its merger with Rocket Pharmaceuticals, Ltd. in 2018. We believe Mr. Carroll&rsquo;s
extensive experience as a pharmaceutical industry executive and his experience as a director of other publicly traded pharmaceutical
companies provides the requisite qualifications, skills, perspectives, and experience that make him well qualified to serve on
our Board of Directors. Mr. Carroll received a B.A. in accounting and economics from the College of Holy Cross and a M.B.A. from
Babson College.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Cooper C. Collins</I>
has served as a director of our company since February 2012. Mr. Collins has served as Chief Executive Officer of Fortis BioPharma
since June 2015. Mr. Collins served as Chief Strategy Officer of Pernix Therapeutics Holdings, Inc. [NASDAQ: PTX], or Pernix, from
May 2013 until April 2014, as its President and Chief Executive Officer from March&nbsp;2010 until May 2013, and as a director
from March 2010 until February 2014. Pernix is a specialty pharmaceutical company focused on the sales, marketing, and development
of branded and generic pharmaceutical products primarily for the pediatric market. Mr. Collins joined Pernix Therapeutics, Inc.,
a predecessor of Pernix, in 2002, where he was appointed as a director in January 2007, its President in December 2007, and its
Chief Executive Officer in June 2008, serving in those three capacities until March 2010. From December 2005 to December 2007,
Mr. Collins served as Vice President of Business and Product Development of Pernix Therapeutics, Inc. and as its Territory Manager
from December 2003 to December 2005. Mr. Collins was employed for three years by the National Football League franchise, the New
Orleans Saints, in its media relations department. We believe Mr. Collins&rsquo; specialty pharmaceutical company knowledge and
executive experience provide the requisite qualifications, skills, perspectives, and experience that make him well qualified to
serve on our Board of Directors. While on a football scholarship, Mr. Collins received a B.A. from Nicholls State University, where
he later received an M.B.A.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Robert V. LaPenta,
Jr.</I> has served as a director of our company since February 2012. Since August 2011, Mr. LaPenta, Jr. has been a partner of
Aston Capital, LLC, a private equity investment firm with a current focus on investments in the aerospace, defense, and intelligence
markets. From April 2007 through July 2011, Mr.&nbsp;LaPenta,&nbsp;Jr. served as Vice President of Mergers and Acquisitions and
Corporate Strategy for L-1 Identity Solutions, Inc., or L-1, a provider of technology, products, systems and solutions, and services
to the U.S Government and assisted L-1 management with sourcing acquisition targets, due diligence, structuring, valuation, execution,
and related financings. Prior to&nbsp;L-1, Mr. LaPenta, Jr. spent 13 years as an institutional equity trader focused on the health
care sector trading for both customer and proprietary accounts and most recently&nbsp;served as a Managing Director, Co-Head of
Equity Trading at Banc of America Securities LLC, where he managed capital commitment, proprietary trading, and risk management
within cash trading. Previously, as a Senior Associate at Coopers &amp; Lybrand LLP, Mr. LaPenta, Jr. participated and managed
engagements in auditing, consulting, due diligence, and SEC reporting. Mr. LaPenta, Jr. also serves as a member of the board of
directors of Revolution Lighting Technologies, Inc. [NASDAQ:&nbsp;RVLT], a company engaged in the design, manufacture, marketing
and installation of LED lighting systems. We believe Mr.&nbsp;LaPenta, Jr.&rsquo;s diverse investing background, capital markets
knowledge, and his relationships within the financial community provide the requisite qualifications, skills, perspectives, and
experience that make him well qualified to serve on our Board of Directors. Mr. LaPenta, Jr. graduated in 1991 from Boston College
with a B.A. in Accounting and Finance and is a registered CPA (inactive) in the State of New York.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Jules A. Musing
</I>has served as a director of our company since May 2013. In the course of Mr. Musing&rsquo;s 36-year career in the pharmaceutical
and biotechnology industry, specifically at Johnson &amp; Johnson and its affiliates, he has been responsible for the worldwide
licensing and acquisition of pharmaceutical and biotechnology products and technologies and the establishment of strategic alliances.
This included the establishment of new scientific, technology and product collaborations in various therapeutic areas, the negotiation
of licensing and alliance agreements with biotechnology and pharmaceutical companies worldwide, and the partnering, spin-out and
out-licensing of company pharmaceutical and biotechnology assets. Prior to moving into those roles, Mr. Musing was Vice President
Marketing International for the Janssen Pharmaceutical Group of Companies Worldwide from March 1982 to December 1984; President
of Pitman-Moore, Inc., a U.S.-based Johnson &amp; Johnson company from January 1985 to June 1987; Managing Director of Janssen
Pharmaceutical in Portugal from July 1987 to March&nbsp;1990; President of Serono, Inc. in the United States and Executive Vice
President with responsibilities for North and South America from April 1990 to January 1993; Member of the board of directors of
Ortho Biotech, Inc. from January 1993 to October 1999; and Managing Director of Ortho Biotech in France (a Johnson &amp; Johnson
affiliate) from October 1999 to January 2003. From January 2003 to his retirement in September 2010, Mr. Musing served as Vice
President, Licensing and Acquisitions for the Pharmaceutical Group at Johnson &amp; Johnson, where he was responsible for the worldwide
licensing and acquisition of pharmaceutical and biotechnology products in all therapeutic areas. He has served as a director of
Delphi Digital, Inc. since March 2012 and Chairman of the Scientific Board of Advisors for Noble Capital Financial Markets since
February 2012. Mr. Musing also served as a director of iBio, Inc. [NYSE MKT: IBIO] from July 2011 to December 2012. We believe
Mr. Musing&rsquo;s more than 36-years&rsquo; experience in the pharmaceutical and biotechnology industry, including the establishment
of numerous strategic and global partnerships and various new product collaborations provide the requisite qualifications, skills,
perspectives, and experience that make him well qualified to serve on our Board of Directors. Mr. Musing received his Master&rsquo;s
Degree in Biological Sciences from the University of Brussels (Belgium) and his Graduate Degree in Economics and Financial Sciences
from the University of Antwerp (Belgium).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Angus C. Russell
</I>has served as a director of our company since March 2015. Mr. Russell previously served as Chief Executive Officer of Shire
PLC, a biopharmaceutical company, from June 2008 until April 2013. Mr. Russell served as the Chief Financial Officer of Shire from
1999 to 2008 and also served as Executive Vice President of global finance. Prior to joining Shire, Russell served at ICI, Zeneca
and AstraZeneca PLC for 19 years, most recently in the role of Vice President, Corporate Finance at AstraZeneca. He is a chartered
accountant, having qualified with what is now PriceWaterhouseCoopers LLP. Mr. Russell also serves as a director of Mallinckrodt
PLC [NYSE: MNK], and will serve as the chairman of the board of Mallinckrodt beginning in May 2018, and BioTime Inc. [NYSE MKT:
BTX] and as the chairman of the board of Revance Therapeutics Inc. [NASDAQ: RVNC]. Mr. Russell previously served as a director
of Shire PLC [NASDAQ: SHPG], Questcor Pharmaceuticals Inc. [NASDAQ: QCOR] and InterMune Inc. [NASDAQ: ITMN]. We believe Mr. Russell&rsquo;s
extensive experience as a pharmaceutical industry executive and his experience as a director of other publicly traded pharmaceutical
companies provides the requisite qualifications, skills, perspectives, and experience that make him well qualified to serve on
our Board of Directors. Mr. Russell holds an honorary Doctor of Business Administration from Coventry University, U.K.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Nicholas Segal</I>
has served as a director of our company since February 2012. Since June 2007, Mr. Segal has served as a director of Seavest Capital
Partners, or Seavest, a private investment company that invests in early and growth-stage companies, primarily in the education,
health care, consumer technology, and media sectors. Representing investments of Seavest, Mr. Segal previously served as a director
of VitaMed from May 2010 until October&nbsp;2011. Mr. Segal also serves on the board of directors of Tout Industries, Inc., a private
company focused on real-time mobile video publishing, and on the board of directors of GlobalEcho Foundation, a non-profit organization
focused on environmental education. Mr. Segal founded and currently serves as Chief Executive Officer of Polar Generation, LLC,
an early-stage consumer products company. Prior to joining Seavest, Mr. Segal served as a senior analyst in the Finance and Business
Development group at ESPN from September 2004 to April&nbsp;2007. We believe Mr. Segal&rsquo;s broad base of knowledge in technologies
and products directed to the consumer market provide the requisite qualifications, skills, perspectives, and experience that make
him well qualified to serve on our Board of Directors. He graduated with a B.A. from Duke University in 2004.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Executive Officers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth certain information regarding our executive officers as of December 31, 2017:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 85%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-right: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Name</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Age</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Position</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Robert G. Finizio </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">48</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">John C.K. Milligan, IV </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">55</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">President, Secretary and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Daniel A. Cartwright </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">60</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Mitchell L. Krassan </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">52</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Strategy Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Michael Donegan </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Vice President &ndash; Finance</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Listed below are biographical
descriptions of our executive officers. For Mr. Finizio&rsquo;s and Mr. Milligan&rsquo;s information, see the description under
&ldquo;Election of Directors&rdquo; above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Daniel A. Cartwright</I>
has served as Chief Financial Officer and Treasurer of our company since October 2011 and served as Vice President of Finance from
October 2011 to April 2013. From July 2011 to October 2011, Mr. Cartwright served as Chief Financial Officer of VitaMed. From May
1996 to July 2011, Mr. Cartwright served as Chief Financial Officer and Executive Vice President of Circle F Ventures, LLC, an
Arizona venture capital firm that made investments in more than 50 companies. During the same period, Mr. Cartwright served as
Chief Financial Officer and Treasurer of Fleming Securities, formerly a registered broker dealer involved with raising capital
for public and private companies. From 1993 to 1996, Mr. Cartwright served as Chief Financial Officer of American Wireless Systems,
Inc., a provider of entertainment video services. Mr. Cartwright currently serves as a member of the board of directors of Primetrica,
Inc., a private information research company for the telecommunications industry, and formerly served on the board of directors
of Antenna Technologies Company, Inc. and WEB Corp. Mr. Cartwright earned his B.S. in Accounting from Arizona State University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Mitchell L. Krassan</I>
has served as Executive Vice President and Chief Strategy Officer of our company since October 2011. From April 2010 to October
2011, Mr. Krassan served as Chief Strategy and Performance Officer of VitaMed. Mr. Krassan has been a partner with EquiMark Limited,
a private investment partnership, since October 1997. From November 1994 to July 1997, Mr. Krassan served as Chief Financial Officer
and Chief Operating Officer of The Reich Group/Telespectrum Worldwide, a fully integrated direct marketing firm that provided clients
expertise in market research and analysis, strategic planning, marketing, creative, and production services, telemarketing and
database development. Mr. Krassan earned a B.S. in Accounting from the University of Maryland, received his certification as a
CPA in the state of Maryland, and earned his M.B.A. in Management from New York University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Michael Donegan</I>
has served as Vice President &ndash; Finance of our company since April 2013. Mr. Donegan has a 27-year background in accounting
and finance. From August 2012 to April 2013, Mr. Donegan served as an independent consultant exclusively for our company, where
he conceptualized, designed and executed our Sarbanes-Oxley 404 compliance program. From August 2007 to August 2012, Mr. Donegan
served as an independent consultant designing and implementing Sarbanes-Oxley 404 compliance programs for various non-accelerated
filers and executed on pre-designed Sarbanes-Oxley 404 compliance programs for certain large accelerated filers. From January 2005
to August 2007, Mr. Donegan served as an independent consultant exclusively for Tyco International, where he enhanced and executed
the Sarbanes-Oxley 404 compliance model with their corporate headquarters group. From November 2001 to December 2004, Mr. Donegan
was Manager of Financial Systems at Tyco International at its global headquarters. From 1994 to 2001, Mr. Donegan held various
positions in the global consolidation/SEC reporting group at Sensormatic Electronics Corporation culminating with the acquisition
of Sensormatic Electronics Corporation by Tyco International in the fall of 2001 when he was the Manager of Financial Systems.
Mr. Donegan began his career at Ernst &amp; Young, LLP where he worked in both the audit and tax departments. Mr. Donegan earned
his Bachelor of Science in Accounting and his Master of Accounting from the University of Florida.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Non-Executive Officers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Listed below are biographical
descriptions of our non-executive officers. For Dr. Bernick&rsquo;s information, see the description under &ldquo;Election of Directors&rdquo;
above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Julia Amadio</I>
has served as Chief Product Officer of our company since January 16, 2012. Ms. Amadio has more than 25 years of experience in general
management with leading pharmaceutical marketing and product development organizations. Ms. Amadio currently serves as a member
of the board of directors of Healthy Women, a leading independent, nonprofit health information source for women. From June 2011
to January 2012, Ms. Amadio was President of JMA Consulting, LLC, her own consulting company that she formed in 2008. From June
2009 to May 2011, she served as Global Vice President of Marketing for MeadWestvaco Healthcare Division. Previously, Ms. Amadio
was President of a start-up, Patients&rsquo; &amp; Consumers&rsquo; Pharma, in 2007. She was Vice President of Marketing &amp;
Marketing Services with Daiichi Pharmaceutical from 2004 to 2006; Vice President of Aventis Pharmaceutical from 1997 to 2004; Senior
Director, New Products Women&rsquo;s Health at Wyeth from 1991 to 1997; and started her career at J&amp;J&rsquo;s McNeil Pharmaceutical.
Ms. Amadio is an active member and leader in the Healthcare Businesswomen&rsquo;s Association. She was an adjunct lecturer at St.
Joseph&rsquo;s University in the pharmaceutical MBA program and authored a chapter on Marketing, Market Research and insights in
the book Pharmaceutical Development for Woman (Wiley &amp; Sons). Ms. Amadio earned a B.S. in Accounting from St. Joseph&rsquo;s
University and a Masters in Business Administration from Drexel University.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dr. Sebastian Mirkin</I>
has served as the Chief Medical Officer of our company since November 2013. Dr. Mirkin has more than 15 years of experience and
leadership in clinical development and medical affairs in women&rsquo;s health in global pharmaceutical companies. From October
2009 to November 2013, Dr. Sebastian was Clinical Lead and Global Clinical Lead of Women&rsquo;s Health, Clinical Research at Pfizer.
From October 2005 to October 2009, he was Director and Senior Director, Clinical Research, Women&rsquo;s Health at Wyeth, and from
October 2004 to October 2005 he was Global Lead Medical Services, Women&rsquo;s Health at Organon. Dr. Mirkin oversaw the development
and successful marketing authorization of several novel medicines, including Duavee&reg;, Conbriza&reg;, Lybrel&reg;, and Premarin
Vaginal Cream&reg; in the United States, Europe, and Japan. Dr. Mirkin holds a Doctor in Medicine degree from National University,
Argentina. Trained in Obstetrics/Gynecology, Dr. Mirkin completed his fellowship in Reproductive Medicine at The Jones Institute
of Reproductive Medicine in Norfolk, Virginia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dawn Halkuff</I>&nbsp;has
served as the Chief Commercial Officer of our company since October 2016. Prior to that, Ms. Halkuff held numerous senior level
positions over 20 years of commercial and marketing experience. Ms. Halkuff was previously at&nbsp;Pfizer, Inc.&nbsp;(NYSE: PFE),
where she held various leadership roles in women&rsquo;s health since 2010. Most recently, Ms. Halkuff was Senior Vice President
of the&nbsp;Pfizer Consumer Healthcare Wellness Organization&nbsp;and a member of the Consumer Global Leadership Team. Prior to
that, Ms. Halkuff was the commercial lead for sales and marketing of the Pfizer Women&rsquo;s Health Division, focusing on the
company&rsquo;s reinvestment in hormone therapy treatment, including Premarin Vaginal Cream&reg;&nbsp;and oral hot flash treatments.
From 2005 to 2010, Ms. Halkuff was Head of Global Innovation at&nbsp;Weight Watchers International&nbsp;(NYSE: WTW), where she
created new weight-loss products, services, and solutions for women worldwide. Ms. Halkuff holds a BA in Psychology from&nbsp;University
of Connecticut&nbsp;and an MBA from&nbsp;Pennsylvania State University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Jason
Spitz</I> has served as Vice President, Commercial Development and Operations since March 2018 and Vice President, Marketing
and Corporate Communications of our company since December 2011. Mr. Spitz has 29 years of marketing, advertising, and
general management experience in pharmaceutical and biopharmaceutical markets. From June 2008 to December 2010, Mr.
Spitz served as Managing Director, Oncology &amp; Hematology at Beacon Healthcare Communications, a company specializing
in pharmaceutical and health care advertising. From September 2004 to June 2008, he served as General Manager, Canada
and Commercial Strategy and Development at MGI Pharma (later acquired by Eisai, Inc.), a company specializing in oncology
and cancer supportive care products. From February 2004 to September 2004, he served as Vice President of Marketing and Sales
at Aesgen, Inc., a company specializing in cancer products and drug delivery systems that was acquired by MGI Pharma. Mr.
Spitz began his career at Schering Plough as a sales representative, rising within the organization over 15 years to lead
a global pharmaceutical franchise. Mr. Spitz earned his Bachelor of Business Administration in Marketing from The University
of Texas at Austin and his Master of Business Administration in Pharmaceutical Studies from Fairleigh Dickinson
University.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Christian Bloomgren</I>
has served as Vice President - Sales of our company since June 2011. Mr. Bloomgren has more than 14 years of leadership experience
in the pharmaceutical, bio-technology, and diagnostic industry. From 2005 to 2011, Mr. Bloomgren served as Region Manager at ViaCell,
Inc., a biotechnology company dedicated to enabling the widespread application of human cells as medicine, later acquired by PerkinElmer,
Inc. While at ViaCell, Mr. Bloomgren built a successful national sales channel and helped lead the Specialty Diagnostics business.
From 2000 to 2002, Mr. Bloomgren served as a specialty Account Manager at Eli Lilly &amp; Co. and from 2002 to 2005 as District
Manager at KV Pharmaceutical. Mr. Bloomgren served as an Officer in the United States Air Force and holds a Bachelor of Science
degree from California State University and a Master of Science degree from Troy State University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Marlan
Walker</I> has served as our General Counsel and Chief Development Officer since April 2018 and General Counsel since March
2016. Mr. Walked previously served as our Corporate and Intellectual Property Counsel from June 2013 until he became
our General Counsel. Mr. Walker&rsquo;s experience is focused in the life science industries, including long-term
portfolio strategy and management, patent preparation and prosecution, contract negotiation and drafting, life-cycle
management, and Hatch-Waxman. After law school, he took a position at Greenberg Traurig, LLP in August 2005. In March of
2009, he moved to Luce Forward Hamilton &amp; Scripps. Mr. Walker accepted an in-house position as Intellectual Property
Counsel for Medicis Pharmaceutical Corp. in June 2011, which was acquired by Valeant Pharmaceutical International, Inc. in
December 2012. In February 2013, Mr. Walker accepted a position at Kilpatrick Townsend &amp; Stockton, but chose to move
in-house again in June 2013, when he accepted a position at our company. Mr. Walker graduated from Arizona State
University&rsquo;s Sandra Day O&rsquo;Conner College of Law with his J.D. in 2004, and an LL.M. in Intellectual Property Law
at The George Washington University Law School in 2005. He holds a Master&rsquo;s Degree in Molecular Biology and a Bachelor
of Science degree, both earned from Brigham Young University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>C. Christine Miller,
Pharm. D</I> has served as our Chief Regulatory and Quality Officer since October 2017. Ms. Miller previously served as our Chief
Compliance and Regulatory Officer since November 2016 and Vice President, Regulatory Affairs, Quality Assurance and Technical Operations
from May 2014.&nbsp; Dr. Miller has over thirty years of experience in pharmaceutical regulatory affairs, quality assurance, and
drug development. Dr. Miller has submitted and obtained approval for many 505(b)(1) and 505(b)(2) new drug applications, including
applications for new chemical entities, fast track and orphan designated products. She also has experience with generic drugs,
OTC drugs, dietary supplements, and international regulatory submissions. From April 2010 to May 2014, Dr. Miller was NDA Regulatory
Practice Lead at Lachman Consultants and President of PharmaReg Solutions where she served as a consultant in all aspects of pharmaceutical
regulatory affairs. She was Senior Vice President of Drug Development at Sirion Therapeutics and COO of Rx Development Resources
from 2006 to 2010; Vice President of Regulatory Affairs and Quality Assurance at Santarus from 2001 to 2006; Global Vice President
of Drug Regulatory Affairs at Bausch &amp; Lomb from 1994 to 2001; Associate Director of Regulatory Affairs at Bayer Corporation
from 1991 to 1994; Senior Regulatory Affairs Associate at Mallinckrodt Medical, Inc from 1987 to 1991 and at KV Pharmaceutical
Company from 1986 to 1987; Regulatory Analyst and Senior Regulatory Analyst at Sandoz (now Novartis) Consumer Healthcare Corporation
from 1983 to 1986 and started her career as a clinical pharmacist.&nbsp; Dr. Miller holds a Doctor of Pharmacy degree from the&nbsp;University
of Nebraska.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Adam Miller</I>
has served as our Chief Information Officer since March 2018. Mr. Miller has over 15 years of experience in the information technology
field with 12 years specifically in healthcare. Mr. Miller previously served as our Vice President of Information Technology since
May of 2011. Since that time, Mr. Miller has been responsible for all aspects of our information technology, including infrastructure,
operations, security, privacy, compliance, support, system administration, data architecture, and application development. From
2006 to 2011, Mr. Miller was a Consultant for Quilogy, a healthcare-focused Microsoft Gold Partner consulting firm. Before that,
Mr. Miller held helpdesk, web developer, and information security roles at Healthcare Recoveries, Louisville Gas &amp; Electric,
and Brown-Forman from 2002 to 2006. Mr. Miller has a BSBA in Computer Information Systems with a Concentration in Information Security
from the University of Louisville&rsquo;s College of Business.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda003"></A>CORPORATE GOVERNANCE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Director Independence</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since October 9, 2017,
our common stock has been listed on the Nasdaq Global Select Market of the Nasdaq Stock Market LLC, or Nasdaq, under the symbol
&ldquo;TXMD.&rdquo; From April 23, 2013 to October 6, 2017, our common stock was listed on the NYSE American under the symbol &ldquo;TXMD.&rdquo;
Under the rules of Nasdaq, independent directors must comprise a majority of a listed company&rsquo;s board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
has affirmatively determined, after considering all the relevant facts and circumstances, that each of Dr. Barlow and Messrs. Thompson,
Carroll, Collins, LaPenta, Jr., Musing, Russell and Segal, is an independent director, as &ldquo;independence&rdquo; is defined
under the applicable rules and regulations of the SEC and the listing standards of Nasdaq, because they do not have a relationship
with us (either directly or as a partner, stockholder, or officer of an organization that has a relationship with us) that would
interfere with their exercise of independent judgment in carrying out their responsibilities as directors. Accordingly, a majority
of our directors are independent, as required under the applicable Nasdaq rules. Messrs. Finizio and Milligan and Dr. Bernick are
not considered independent directors because of their executive positions or other relationships with our company. There are no
family relationships among any of our directors or officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Committee Charters, Corporate Governance,
and Code of Ethics</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
has adopted charters for the Audit, Compensation, and Nominating and Corporate Governance Committees describing the authority and
responsibilities delegated to each committee by our Board of Directors. Our Board of Directors has also adopted Corporate Governance
Guidelines, a Code of Conduct and Ethics, and a Code of Ethics for the Chief Executive Officer and Senior Financial Officers. We
post on our website, at <I>www.therapeuticsmd.com</I>, the charters of our Audit, Compensation, and Nominating and Corporate Governance
Committees; our Corporate Governance Guidelines, Code of Conduct and Ethics, and Code of Ethics for the Chief Executive Officer
and Senior Financial Officers, and any amendments or waivers thereto; and any other corporate governance materials contemplated
by the SEC or Nasdaq. These documents are also available in print to any stockholder requesting a copy in writing from our corporate
secretary at our executive offices set forth in this proxy statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Executive Sessions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We regularly schedule
executive sessions in which non-employee directors will meet without the presence or participation of management, with at least
one of such sessions including only independent directors. Mr.&nbsp;Thompson, as the Chairman of our Board of Directors, chairs
the executive sessions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board Committees</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
has an Audit Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee, each consisting entirely
of independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Audit Committee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the
Audit Committee is to oversee our financial and reporting processes and the audits of our financial statements and to provide assistance
to our Board of Directors with respect to its oversight of the integrity of our financial statements, our company&rsquo;s compliance
with legal and regulatory matters, the independent registered public accountant&rsquo;s qualifications and independence, and the
performance of our independent registered public accountant. The primary responsibilities of the Audit Committee are set forth
in its charter and include various matters with respect to the oversight of our accounting and financial reporting process and
audits of our financial statements on behalf of our Board of Directors. The Audit Committee also selects the independent registered
public accountant to conduct the annual audit of our financial statements; reviews the proposed scope of such audit; reviews accounting
and financial controls with the independent registered public accountant and our financial accounting staff; and reviews and approves
any transactions between us and our directors, officers, and their affiliates.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee
currently consists of Messrs. LaPenta, Jr., Segal, Collins, and Russell, each an independent director of our company under Nasdaq
rules as well as under rules adopted by the SEC pursuant to the Sarbanes-Oxley Act of 2002. Mr. LaPenta, Jr. serves as the Chairman
of the Audit Committee. Our Board of Directors has determined that Mr. LaPenta, Jr. and Mr. Russell (each of whose background is
detailed above) qualifies as an &ldquo;audit committee financial expert&rdquo; in accordance with applicable rules and regulations
of the SEC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation Committee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the
Compensation Committee includes determining, or recommending to our Board of Directors for determination, the compensation of our
Chief Executive Officer and other executive officers and discharging the responsibilities of our Board of Directors relating to
our compensation programs. Pursuant to its charter, the Compensation Committee may delegate any of its responsibilities to a subcommittee
comprised of one or more members of the Compensation Committee. The Compensation Committee currently consists of Messrs. Collins,
Thompson, and Carroll, with Mr. Collins serving as Chairman.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nominating and Corporate Governance
Committee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the
Nominating and Corporate Governance Committee includes the selection or recommendation to our Board of Directors of nominees to
stand for election as directors at each election of directors, the oversight of the selection and composition of committees of
our Board of Directors, the oversight of the evaluations of our Board of Directors and management, and the development and recommendation
to our Board of Directors of a set of Corporate Governance Guidelines applicable to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Nominating and
Corporate Governance Committee will consider persons recommended by stockholders for inclusion as nominees for election to our
Board of Directors if the information required by the rules adopted by the SEC is submitted in writing in a timely manner addressed
and delivered to our corporate secretary at the address of our executive offices set forth in this proxy statement. Our bylaws,
as amended, require that, subject to certain exceptions, a stockholder provide information regarding a director nomination to us
no earlier than the 120<SUP>th</SUP> day and no later than the 90<SUP>th</SUP> day prior to the first anniversary of the preceding
year&rsquo;s annual meeting of stockholders and update and supplement such information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Nominating and
Corporate Governance Committee identifies and evaluates nominees for our Board of Directors, including nominees recommended by
stockholders, based on numerous factors it considers appropriate, some of which may include strength of character, mature judgment,
career specialization, relevant technical skills, diversity, and the extent to which the nominee would fill a present need on our
Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All nominees for election
to our Board of Directors at our Annual Meeting of Stockholders are current directors of our company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The members of the
Nominating and Corporate Governance Committee are Messrs. Thompson, LaPenta, Jr., and Carroll. Mr. Thompson serves as Chairman.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board&rsquo;s Role in Risk Oversight</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Risk is inherent in
every business. As is the case in virtually all businesses, we face a number of risks, including operational, economic, financial,
legal, regulatory, and competitive risks. Our management is responsible for the day-to-day management of the risks we face. Our
Board of Directors, as a whole and through its committees, has responsibility for the oversight of risk management.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors&rsquo;
involvement in our business strategy and strategic plans plays a key role in its oversight of risk management, its assessment of
management&rsquo;s risk appetite, and its determination of the appropriate level of enterprise risk. Our Board of Directors receives
updates at least quarterly from senior management and periodically from outside advisors regarding the various risks we face, including
operational, economic, financial, legal, regulatory, and competitive risks. Our Board of Directors also reviews the various risks
we identify in our filings with the SEC as well as risks relating to various specific developments, such as debt and equity placements
and product introductions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The committees of our
Board of Directors assist our Board of Directors in fulfilling its oversight role in certain areas of risks. Pursuant to its charter,
the Audit Committee oversees the financial and reporting processes of our company and the audit of the financial statements of
our company and provides assistance to our Board of Directors with respect to the oversight and integrity of the financial statements
of our company, our company&rsquo;s compliance with legal and regulatory matters, the independent auditor&rsquo;s qualification
and independence, and the performance of our independent auditor. The Compensation Committee considers the risks that our compensation
policies and practices may have in attracting, retaining, and motivating valued employees and endeavors to assure that it is not
reasonably likely that our compensation plans and policies would have a material adverse effect on our company. Our Nominating
and Corporate Governance Committee oversees governance-related risks, such as director independence, conflicts of interests, and
management succession planning.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board Diversity</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We seek diversity in
experience, viewpoint, education, skill, and other individual qualities and attributes to be represented on our Board of Directors.
We believe directors should have various qualifications, including individual character and integrity; business experience and
leadership ability; strategic planning skills, ability, and experience; requisite knowledge of our industry and finance, accounting,
and legal matters; communications and interpersonal skills; and the ability and willingness to devote time to our company. We also
believe the skill sets, backgrounds, and qualifications of our directors, taken as a whole, should provide a significant mix of
diversity in personal and professional experience, background, viewpoints, perspectives, knowledge, and abilities. Nominees are
not to be discriminated against on the basis of race, religion, national origin, sex, sexual orientation, disability, or any other
basis prohibited by law. The assessment of directors is made in the context of the perceived needs of our Board of Directors from
time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our directors
have held high-level positions in business or professional service firms and have experience in dealing with complex issues. We
believe that all of our directors are individuals of high character and integrity, are able to work well with others, and have
committed to devote sufficient time to the business and affairs of our company. In addition to these attributes, the description
of each director&rsquo;s background sets forth above indicates the specific experience, qualifications, and skills necessary to
conclude that each individual should continue to serve as a director of our company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board Leadership Structure</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that effective
board leadership structure can depend on the experience, skills, and personal interaction between persons in leadership roles as
well as the needs of our company at any point in time. We currently maintain separate roles between the Chief Executive Officer
and Chairman of the Board of Directors in recognition of the differences between the two responsibilities. Our Chief Executive
Officer is responsible for setting our strategic direction and day-to-day leadership and performance of our company. The Chairman
of the Board of Directors provides input to the Chief Executive Officer, sets the agenda for board meetings, and presides over
meetings of the full Board of Directors as well as executive sessions of our Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation Committee Interlocks and
Insider Participation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During our fiscal year
ended December 31, 2017, Messrs. Collins, Thompson, and Carroll served as members of the Compensation Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None of Messrs. Collins,
Thompson, or Carroll have been at any time one of our officers or employees or had any relationship with us that requires disclosure
under Item 404 of Regulation S-K under the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the fiscal year
ended December 31, 2017, none of our executive officers served on the compensation committee or board of directors of any entity
whose executive officers serve as a member of our Board of Directors or Compensation Committee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation Recovery Policy</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, we have
not implemented a policy regarding retroactive adjustments to any cash or stock-based incentive compensation paid to our executive
officers and other employees where the payments were predicated upon the achievement of financial results that were subsequently
the subject of a financial restatement. We intend to adopt a general compensation recovery, or clawback, policy covering our annual
and long-term incentive award plans and arrangements after the SEC adopts final rules implementing the requirement of Section 954
of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or the Dodd-Frank Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board and Committee Meetings</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
held a total of five meetings during the fiscal year ended December 31, 2017. No director attended fewer than 75% of the aggregate
of (i) the total number of meetings of our Board of Directors and (ii) the total number of meetings held by all committees of our
Board of Directors on which such director was a member.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the fiscal year
ended December 31, 2017, the Audit Committee held four formal meetings; the Compensation Committee held three meetings; and the
Nominating and Corporate Governance Committee held one meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Annual Meeting Attendance</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We encourage our directors
to attend each annual meeting of stockholders. To that end, we have scheduled a meeting of our Board of Directors on the same day
as our annual meeting of stockholders. All of our directors attended the annual meeting of stockholders last year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Communications with Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interested parties
may communicate with our Board of Directors or specific members of our Board of Directors, including our independent directors
and the members of our various board committees, by submitting a letter addressed to our Board of Directors of TherapeuticsMD,
Inc. at the address set forth in this proxy statement c/o&nbsp;any specified individual director or directors. Any such letters
are forwarded to the indicated directors.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda004"></A>COMPENSATION DISCUSSION AND ANALYSIS</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
has appointed a Compensation Committee, consisting of independent members of our Board of Directors, to review and approve corporate
goals and objectives relevant to the compensation of our Chief Executive Officer, or CEO, evaluate the performance of our CEO on
achieving those goals and objectives, and determine or recommend to our Board of Directors the compensation of our CEO based in
this evaluation. The Compensation Committee also recommends to our Board of Directors, or as directed by our Board of Directors,
determines and approves, the compensation of our other executive officers. The Compensation Committee makes every effort to ensure
our executive compensation program is consistent with our values and is aligned with our business strategy and corporate goals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For 2017, our named
executive officers, or NEOs, were:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Robert G. Finzio &#8211; Chief Executive Officer</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">John C.K. Milligan, IV &#8211; President and Secretary</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Daniel A. Cartwright &#8211; Chief Financial Officer and Treasurer</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mitchell L. Krassan &#8211; Executive Vice President and Chief Strategy Officer</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Michael Donegan &#8211; Vice President &#8211; Finance</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the NEOs&rsquo; pay outcomes are
discussed below in the context of our executive pay philosophy and the achievement of key goals and objectives.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Executive Pay Philosophy</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain a pay for
performance philosophy driven by a pay mix emphasizing variable and performance-based pay tied to corporate performance results
and our stock price. We believe this philosophy supports our company&rsquo;s business strategy of developing and commercializing
innovative new products targeted exclusively for women to the benefit of our company&rsquo;s current stockholders and future customers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The three core elements
of our executive compensation program each serve a different purpose:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 90%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; border: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Core Element</B></FONT></TD>
    <TD STYLE="width: 59%; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Purpose</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Salary</FONT></TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">We set salaries at a level designed to attract and retain the key executives needed to drive our business forward.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Annual Incentive Compensation</FONT></TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Annual incentive compensation is designed to motivate our executives to achieve our annual drug development and commercialization goals and objectives.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Stock-Based Awards</FONT></TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Stock-based awards, which have taken the form of&nbsp;&nbsp;stock options, are designed to align our executive and stockholder interests by providing the opportunity for our executives to earn rewards based on the creation of stockholder value through increases in our share price as driven by the success of our business strategies over time.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We discuss below our performance
outcomes and related compensation decisions for 2017.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Executive Summary</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>2017 Performance</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2017, we achieved
the following major goals and objectives related to our drug development efforts:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Re-filed a New Drug Application, or NDA, with the U.S. Food and Drug Administration, or the FDA,
for TX-004HR, our applicator-free vaginal estradiol softgel drug candidate for the treatment of moderate to severe dyspareunia
(vaginal pain during sexual intercourse), a symptom of vulvar and vaginal atrophy, or VVA, in post-menopausal women with vaginal
linings that do not receive enough estrogen;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Filed an NDA for TX-001HR, our bio-identical hormone therapy combination of 17&#223;- estradiol
and progesterone in a single, oral softgel drug candidate, for the treatment of moderate to severe vasomotor symptoms, or VMS,
due to menopause in post-menopausal women with an intact uterus;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Prepared for the potential launch of our TX-001HR and TX-004HR drug candidates, if approved, through
scale-up and manufacturing activities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Identified and explored business development opportunities for our drug candidates.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on these achievements
in relation to our corporate goals set at the beginning of 2017, the Compensation Committee and our Board of Directors determined
we achieved 95% of our drug development and pre-commercialization goals and objectives for 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>2017 Pay Decisions</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><B>No Salary Increases: </B>Maintained NEO salaries at 2016 levels except for our Executive Vice
President and Chief Strategy Officer&#8217;s salary, which was below the market 25th percentile of our compensation peer group
and was increased by 20% to market competitive levels.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><B>Target Annual Incentives:</B> Paid annual incentives at near-target level to our NEOs for their
achievement of our target 2017 drug development and commercialization goals and objectives noted above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><B>Transition in Approach to Equity Awards: </B>Transitioned to making equity awards on an annual
basis from our historical practice of making awards primarily on a multi-year basis</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">The March 2017 stock option grants to our NEOs reflected this transition (i.e., award levels were
sized to be an annual grant).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">The Compensation Committee made this transition because of their belief that (i) prevalent competitive
practice among similarly situated companies is to make equity awards on an annual basis and (ii) the change will aid our ongoing
recruitment efforts and will yield more predictable pay outcomes for our NEOs as we continue to evolve as a company.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
will continue to monitor our executive compensation program and consider further changes as our business continues to evolve in
the future, including the use of more financial metrics in our annual incentive plan as we move toward commercialization of our
drug candidates, if approved, a practice that we anticipate beginning in 2019.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Results of Say-on-Pay Vote</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since we conducted
our first stockholder advisory vote on the compensation of our NEOs (commonly referred to as a &ldquo;say-on-pay&rdquo; vote) in
August 2013, we have had overwhelming support from our stockholders, achieving more than 95% support in each of the five annual
votes from 2013 through 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consequently, the Compensation
Committee and our Board of Directors did not make any significant changes to our executive compensation program, or their decision-making
process, in recent years. However, as discussed above, the Compensation Committee has begun to take steps to refocus our executive
compensation program as we transition from a drug development company to a company undertaking the commercialization of its drug
candidates, if approved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Role of the Compensation Committee and
Chief Executive Officer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
determines, or recommends to our Board of Directors for determination, the compensation of our CEO and our other executive officers.
At least annually, our Compensation Committee evaluates the performance of our CEO and determines, or recommends to our Board of
Directors for determination, the compensation for our CEO in light of the accomplishment of the goals and objectives of our executive
compensation program for the year. Our Compensation Committee and our Board of Directors, together with our CEO, annually assess
the performance of our other executive officers. Based on the determinations of our Compensation Committee and our Board of Directors
after receiving recommendations from our CEO, when applicable, our Compensation Committee and our Board of Directors determine
the compensation for our other executive officers. Our Compensation Committee may also receive input from independent compensation
consultants that it may engage from time to time.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the request of our
Compensation Committee, our CEO generally attends a portion of some of our Compensation Committee meetings. This enables our Compensation
Committee to review the corporate and individual goals the CEO regards as important to achieve our overall success. Our Compensation
Committee also requests the CEO to assess the performance against the goals and objectives for our other executive officers. The
Compensation Committee makes all decisions regarding individual and corporate goals and objectives. Our CEO does not attend any
portion of meetings at which his own compensation is determined.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation Surveys and Compensation
Consultants</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
periodically reviews compensation data representative of companies we believe are similar to our company to determine appropriate
compensation levels to enable us to attract executives from other companies and to retain and motivate our executives. The Compensation
Committee uses peer group information and broader life sciences industry survey data as frames of reference but does not specifically
benchmark or target our compensation levels against any desired targeted level of competitiveness.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time,
we retain the services of independent compensation consultants to review a wide variety of factors relevant to executive compensation,
trends in executive compensation, and the identification of relevant peer companies. When engaged by our Compensation Committee,
our compensation consultants report directly to the Compensation Committee and the Compensation Committee makes all determinations
regarding the engagement, fees, and services of our compensation consultants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2016 and 2017,
the Compensation Committee retained Pay Governance LLC, or Pay Governance, to provide executive compensation services to the Compensation
Committee, primarily for compensation decisions related to 2016 and 2017. Pay Governance analyzed and proposed changes to our company&rsquo;s
peer group, provided information with respect to market competitive pay levels for executives and outside directors and assisted
the Compensation Committee with the refocus of our executive compensation program discussed above in the Executive Summary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with
the requirements of applicable SEC rules and the listing standards of Nasdaq, the Compensation Committee has reviewed the independence
of Pay Governance and has determined that Pay Governance meets the independence criteria established under such rules and listing
standards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation Elements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Salary</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We set salaries at
a level sufficient to attract and retain our NEOs in the context of our executives&rsquo; opportunity to receive significant incentive
compensation if they can achieve pre-determined performance goals and objectives. Salaries for NEOs are established based on an
executive&rsquo;s position, responsibilities, skills, and experience. In determining salaries, we account for individual performance
and contributions, future potential, competitive salary levels for comparable positions at other companies, salary levels relative
to other positions within our company, and corporate needs. The evaluation of the Compensation Committee and our Board of Directors
of the foregoing factors is subjective, and the Compensation Committee and our Board of Directors do not assign a particular weight
to any factor.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Annual Incentive Compensation</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Annual incentive compensation
reflects our pay-for-performance philosophy. We generally adhere to the following process in determining annual incentive compensation:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our Board of Directors approves our annual operating plan, which forms the basis for the corporate
performance measures and individual performance goals and objectives for our annual performance-based incentive compensation.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The Compensation Committee reviews and sets the framework for the annual performance-based incentive
compensation for the year, including:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Confirming the plan participants;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Establishing a target annual incentive opportunity for each participating executive officer; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Reviewing the corporate performance measures and individual performance objectives for the fiscal
year.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may establish objective
performance criteria when setting performance goals for the incentive compensation program for a particular year or may use subjective
factors. These performance criteria may include a wide range of factors, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Filing Initial New Drug Applications with the FDA;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Beginning clinical trials;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Completing clinical trials;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Filing NDAs with the FDA;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Receiving new drug approvals from the FDA;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Reaching sales goals; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Increasing cash flows from operations.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The performance criteria
may vary on a year-to-year and executive-by-executive basis depending on the goals then deemed important for our company and the
executive officer and may be established for all or a portion of a year or for multiple years. We attempt to set each of our performance
goals at a level that can be realistically achieved but is challenging and consistent with achieving the desired corporate goal.
In establishing performance goals, the Compensation Committee and our Board of Directors also may take into consideration prevailing
as well as expected future economic conditions affecting our company&rsquo;s business and industry.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Stock-Based Awards</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We strongly believe
in using our common stock to tie executive rewards directly to our long-term success and increases in stockholder value. Grants
of stock-based awards to our executive officers enable those executives to benefit from a significant position in our common stock.
We have no ongoing policy for allocating among different types of stock-based awards and maintain the flexibility to grant each
type of stock-based award. Among other factors, the amount and type of stock-based awards granted to our executives&rsquo; account
for awards previously granted and the equity held by each individual NEO. While we have the flexibility to grant each type of stock
award, we have traditionally used stock options due to our current stage of development, future expected growth profile and prevalence
among industry competitors, among other factors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stock based compensation
typically vests over multiple years to encourage executive retention and emphasize long-term performance and may also include specific
performance metrics to be earned. Our Board of Directors grants stock-based awards at regularly scheduled Board of Directors meetings
after reviewing allocations recommended by the Compensation Committee following advice from the Compensation Committee&rsquo;s
compensation consultants, an analysis of peer companies, specific goals to be achieved, and a wide range of other factors. See
&ldquo;Executive Compensation&nbsp;&mdash;&nbsp;Fiscal Year 2017 Summary Compensation Table.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Other Benefits</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Executive officers
are eligible to participate in benefit programs available to all full-time employees. These programs include medical insurance,
a qualified retirement program allowed under Section&nbsp;401(k) of the Internal Revenue Code, and life insurance coverage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Policies for the Pricing and Timing
of Stock-Based Grants</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
sets the price of all stock-based awards at the closing price of our stock on the date of grant on Nasdaq, or for grants prior
to October 9, 2017, on the NYSE American. Our Board of Directors grants stock-based compensation at regularly scheduled meetings
each year. In the case of new hires, our Board of Directors generally grants stock-based awards on start dates, which are determined
by the date the employee reports for service.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employment Agreements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of Messrs. Finizio,
Milligan, Cartwright, Krassan and Donegan is a party to an employment agreement with us, which provides for salaries, annual short-term
cash-based incentive compensation and stock option grants. The employment agreements for each of Messrs. Finizio, Milligan and
Cartwright provide for benefits in the event of certain changes in control of our company. These arrangements have no effect on
our compensation arrangements absent a change in control. See &ldquo;Executive Compensation &mdash; Employment Agreements.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fiscal 2017 Compensation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Use of Market Data </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In determining the
compensation of our executive officers, including our NEOs, we consider compensation levels of executives at companies similar
to our company and other competitive factors to enable us to attract executives from other companies and retain and motivate our
executives. We periodically review compensation levels of a peer group of companies and consider broader life sciences industry
pay survey data. We use peer group and other information as a point of reference, but do not benchmark or target our compensation
levels against our peer group or other factors. In 2016 and 2017, our Compensation Committee engaged Pay Governance to prepare
a study of the executive officer compensation practices of a group of peer companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For 2016, Pay Governance developed a group
of 22 similarly-situated life science companies with median market cap of $1.2 billion and median number of employees of 250. This
2016 Peer Group was used by the Compensation Committee and our Board of Directors when establishing our 2017 executive compensation
program for our NEOs, along with information from the Radford Global Life Sciences Survey in which we participated for the first
time in 2016-2017. The 2016 Peer Group consisted of the following companies:</P>

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

<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Achillion Pharmaceuticals, Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Acorda Therapeutics, Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Agenus, Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Agios Pharmaceuticals, Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">AMAG Pharmaceuticals, Inc.</FONT></TD></TR></TABLE>

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</DIV>
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</DIV>
<BR CLEAR="ALL"><BR>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The 2016 Peer Group was based on the following
criteria:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Industry</U>: Companies competing in
the biotech and pharmaceutical industries.</P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Phase of Development</U>: Therapeutic
products in either phase 2 or phase 3 development or pre-commercial stage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Market Capitalization</U>: Companies
with a market capitalization between $500 million and $4.4 billion, with a median market cap of $1.2 billion, compared to our then-current
market cap of $1.3 billion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Number of Employees</U>: Companies with
between 80 and 535 employees, with a median number of employees of 250, compared to our then-current 159 employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Salary</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our NEOs received salaries
for 2017 in accordance with their respective 2017 compensation plans as recommended by the Compensation Committee and approved
by our Board of Directors. As is our practice, we set salaries for our NEOs at the beginning of the year as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</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="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Executive Officer</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Annualized Fiscal <BR>
2016 Salary</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Annualized Fiscal <BR>
2017 Salary</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Increase</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%; text-align: justify">Robert G. Finizio </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">John C.K. Milligan, IV </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Daniel A. Cartwright </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Mitchell L. Krassan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Michael Donegan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2017, salaries
of all officers remained the same as 2016 salaries except for our Executive Vice President and Chief Strategy Officer, whose salary
was below the market 25th percentile of our 2016 Peer Group and was increased in 2017 to be comparable to similar executives from
the 2016 Peer Group.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Annual Performance-Based Incentive
Plan</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We use annual performance-based
incentive compensation to motivate our NEOs to achieve our annual objectives as set forth in our annual operating plan, while making
progress towards and supporting our longer-term strategic goals. In addition, the Compensation Committee and our Board of Directors
establish individual performance objectives for each of our NEOs. The payment of annual incentives is based upon the achievement
of one or more corporate and individual performance objectives.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Target Annual Incentive
Opportunities </U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
and our Board of Directors determined the target annual incentive opportunities for each of our NEOs for fiscal 2017 should be
a percentage of each NEO&rsquo;s salary. The target annual incentive opportunity established for each NEO for fiscal 2017 was as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</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="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Executive Officer</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Annualized Fiscal <BR>
2017 Salary</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Target Annual Incentive</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Opportunity</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(as a percentage</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of salary)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annualized Target</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Incentive</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Opportunity</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(as a dollar amount)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%; text-align: justify">Robert G. Finizio </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">John C.K. Milligan, IV </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">315,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Daniel A. Cartwright </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">262,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Mitchell L. Krassan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">180,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Michael Donegan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">72,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In setting the target
annual incentive opportunities for our NEOs, the Compensation Committee and our Board of Directors exercised their judgment and
considered several factors, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our overall financial and operational results for the prior fiscal year;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The prior performance of each NEO;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The NEOs&#8217; potential to contribute to our long-term strategic success;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The NEOs&#8217; roles and responsibilities;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Each NEO&#8217;s individual experience and skills;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Competitive market practices for annual incentives; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">For our NEOs other than our CEO, the recommendations of our CEO.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Corporate Performance Measures</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For fiscal 2017, the
Compensation Committee and our Board of Directors selected several components to measure performance that best supported our annual
operating plan and enhanced long-term value creation. As determined by the Compensation Committee and our Board of Directors, our
NEOs were eligible to receive annual incentive compensation based on specific corporate performance measures for fiscal 2017. Our
Board of Directors set these target levels to be aggressive, yet achievable, with diligent effort during 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The corporate performance
measures for fiscal 2017 were as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Obtain approval from the FDA of the NDA for TX-004HR, our applicator-free vaginal estradiol softgel
drug candidate for the treatment of moderate to severe dyspareunia, a symptom of VVA in post-menopausal women with vaginal linings
that do not receive enough estrogen;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Prepare our company for the potential launch of TX-004HR, if approved;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Prepare for manufacturing and scale-up for TX-004HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Create marketing and sales strategies;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">File an NDA with the FDA for TX-001HR, our bio-identical hormone therapy combination of 17&#223;-
estradiol and progesterone in a single, oral softgel drug candidate, for the treatment of moderate to severe VMS due to menopause
in post-menopausal women with an intact uterus;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Prepare for manufacturing and scale-up for TX-001HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Create and institute compliance and training initiatives;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Continue to inform and educate applicable constituencies regarding the potential market sizes for
each of our drug candidates; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Identify and explore business development opportunities for our drug candidates.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consistent with our
compensation philosophy of rewarding individual performance, our CEO also developed and recommended to the Compensation Committee
and our Board of Directors a series of individual performance objectives for our NEOs, which he deemed to be integral to the achievement
of our annual operating plan. These objectives were approved by the Compensation Committee and our Board of Directors. The Compensation
Committee and our Board of Directors determined the individual performance goals that should be used to assess the performance
of our CEO.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the
fiscal 2017 annual performance-based incentive compensation, the individual performance goals for each of our NEOs were as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Finizio</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Submit the NDA for TX-001HR to the FDA;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Develop the launch plan for TX-004HR, if approved;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Continue to inform and educate applicable constituencies regarding the potential market sizes for
our drug candidates;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Foster an environment of high integrity, ethics, and regulatory compliance; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Identify and engage a manufacturer for both TX-001HR and TX-004HR.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Milligan</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Prepare and file the NDA for TX-001HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace">F</FONT>acilitate the company&rsquo;s
continued development of a marketing, sales, distribution, and launch strategy for TX-004HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Identify and engage a manufacturer for both TX-001HR and TX-004HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Facilitate scale-up and manufacturing for TX-004HR;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Institute compliance and training initiatives; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Facilitate the execution of the company&rsquo;s 2017 operations plan.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Cartwright</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Build our business growth objectives with appropriate processes and controls;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Improve our balance sheet by raising additional funds;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Submit the NDA for TX-001HR to the FDA;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Continue to develop the TX-004HR launch plan;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Monitor and review our corporate and financial structure;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Set future financial strategy; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Foster an environment of high integrity, ethics, and regulatory compliance.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Krassan</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Provide leadership and direction as the company designs and build new systems for the launching
of our drug candidates;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Engage third parties to develop independent analyses of the market size of each of our drug candidates;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Discover additional metrics and data sets that will allow the company to validate the market size
of each of our drug candidates; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Provide guidance in evaluating and adjusting the TX-004HR launch assessment.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Donegan</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Provide leadership and direction with respect to, and plan and implement the installation of, a
new general ledger and financial reporting system;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Support any additional Sarbanes-Oxley Act requirements;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Empower individuals to transition to new roles as the company expands;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Monitor and review our corporate and financial structure;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Set future financial strategy; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify">Foster an environment of high integrity, ethics, and regulatory compliance.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the end of the
fiscal year, our CEO evaluated each NEO&rsquo;s progress towards the achievement of the NEO&rsquo;s individual performance objectives.
In the case of our CEO, the Compensation Committee and the Board of Directors evaluated his progress towards the achievement of
his individual performance goals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Fiscal 2017 Annual
Incentive Decisions </U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The annual incentive
compensation for each of our NEOs was determined based on an assessment by the Compensation Committee and the Board of Directors
of success in achieving the corporate performance measures and the individual performance objectives, after considering the recommendations
of our CEO for NEOs other than himself.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on both our corporate
performance for fiscal 2017, in which we met 95% of our corporate goals, and each NEO&rsquo;s individual performance during the
year, the following annual incentive payments were made to our NEOs for fiscal 2017:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</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="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Executive Officer</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Annualized Fiscal <BR> 2017 Salary</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Target Annual <BR> Incentive</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Opportunity</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(as a percentage</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of salary)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Total Cash <BR> Incentive</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Payments for</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fiscal 2017</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Percentage of <BR> Target Annual <BR> Incentive <BR> Opportunity</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: justify">Robert G. Finizio </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">570,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">95</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">John C.K. Milligan, IV </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">299,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Daniel A. Cartwright </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">249,375</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Mitchell L. Krassan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">171,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Michael Donegan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,875</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Stock-Based Awards</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stock option grants
made in 2015 were designed to provide long-term incentive compensation for more than one year and our Compensation Committee decided,
as a result, not to make stock option grants in 2016. This outcome was reflective of past stock option grant practices in which
the timing of grants was intermittent (i.e., grants were made over several years on an informal schedule).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In early 2017, with
the initial commercialization of several of our drug candidates anticipated to begin in the near future, the Compensation Committee
and Board of Directors decided to move toward an approach to stock option grants more consistent with similarly situated companies,
specifically providing for stock option grants to be made on an annual basis. The Compensation Committee and our Board of Directors
believed moving to such a practice would better support our company&rsquo;s recruiting and retention needs for both executives
and other employees in the context of the upcoming commercialization efforts. As a result, the following stock option grants were
made on March 15, 2017 to our NEOs, each of which vests in equal annual installments over a period of three years from the date
of grant:</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 52%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Executive Officer</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Stock Options Granted</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%; text-align: justify">Robert G. Finizio </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">445,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">John C.K. Milligan, IV </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Daniel A. Cartwright </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Mitchell L. Krassan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Michael Donegan </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Compensation Committee
chose to make these grants based on market data from the 2016 Peer Group for similar positions at similar companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each officer forfeits
the unvested portion, if any, of the stock options if the officer&rsquo;s service to our company is terminated for any reason,
except as may otherwise be determined by our Board of Directors or as provided in an applicable employment agreement. For Messrs.
Finizio, Milligan, and Cartwright, stock-based awards vest upon termination due to death or &ldquo;disability,&rdquo; termination
by our company without &ldquo;cause,&rdquo; resignation by the officer for &ldquo;good reason,&rdquo; and a &ldquo;change in control&rdquo;
of our company (as such terms are defined in the employment agreements).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See &ldquo;Executive
Compensation &mdash; Fiscal Year 2017 Grants of Plan-Based Awards&rdquo; and &ldquo;Executive Compensation &mdash; Outstanding
Equity Awards at Fiscal Year-End 2017&rdquo; tables for further information on equity awards granted to and held by each of our
NEOs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Severance and Change in Control Benefits</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have severance and
change in control benefits for our NEOs documented in their respective employment agreements. We believe these benefits were necessary
to attract our NEOs and the change in control benefits are in the best interests of our company and our stockholders because they
help assure we will have the continued dedication and objectivity of our executive officers, notwithstanding the possibility or
occurrence of a change in control. For further details, see &ldquo;Executive Compensation &mdash; Potential Payments Upon Termination
or Change in Control&rdquo; below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tax and Accounting Considerations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Deductibility of Executive Compensation</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The tax treatment of
the elements of our compensation program is one factor considered in the design of the compensation program. Under Section 162(m)
of the Internal Revenue Code, as amended, or the Code, the federal income tax deduction for certain types of compensation paid
to certain executive officers of publicly-held companies is limited to $1.0 million per officer per fiscal year unless such compensation
meets certain requirements. This limitation does not apply to certain compensation awards granted prior to November 3, 2017 that
meet the transition requirements under Section 162(m) of the Code for &ldquo;qualifying performance based&rdquo; compensation (i.e.,
compensation paid only if performance meets pre-established objective goals based on performance criteria approved by stockholders).
Although the Compensation Committee considers the impact of Section 162(m) of the Code as well as other tax and accounting consequences
when developing and implementing our executive compensation programs, the Compensation Committee retains the flexibility to design
and administer compensation programs in the best interests of our company and stockholders. In addition, due to the ambiguities
and uncertainties as to the application and interpretation of Section 162(m) of the Code and the transition rule thereunder, no
assurances can be given that compensation intended by the Compensation Committee to satisfy the requirements for deductibility
under Section 162(m) of the Code would, in fact, do so. Recent tax legislation enacted by the U.S. Congress in December 2017 will
likely result in more executive compensation not being tax deductible by our company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Taxation of &ldquo;Parachute&rdquo;
Payments </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sections 280G and 4999
of the Internal Revenue Code provide that executive officers and directors who hold significant equity interests and certain other
service providers may be subject to significant additional taxes if they receive payments or benefits from a change in control
of a company that exceed certain prescribed limits, and the company (or a successor) may forfeit a deduction on the amounts subject
to this additional tax. We did not provide any executive officer, including any NEO, with a &ldquo;gross-up&rdquo; or other reimbursement
payment for any tax liability they might owe as a result of the application of Sections&nbsp;280G and 4999 during fiscal 2017,
and we have not agreed and are not otherwise obligated to provide any executive officer with such a &ldquo;gross-up&rdquo; or other
reimbursement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Accounting for Stock-Based Compensation</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We account for stock-based
awards in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 718 &ldquo;Compensation
- Stock Compensation,&rdquo; or ASC 718. In determining stock-based awards, the Compensation Committee considers the potential
expense of these awards under ASC 718 and the impact on our earnings per share.</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda005"></A>EXECUTIVE COMPENSATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fiscal Year 2017 Summary Compensation
Table</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
lists the compensation of our company&rsquo;s principal executive officer, principal financial officer, and each of our three other
most highly compensated executive officers who were serving as executive officers (collectively, our NEOs) on December 31, 2017,
the end of our last completed fiscal year. The following information includes the dollar value of salaries, bonus awards, the number
of non-qualified options granted, non-equity incentive plan compensation, and certain other compensation, if any, whether paid
or deferred.</P>

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid; padding-left: 5.4pt">Name and Principal<BR> Position</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salary</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bonus</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Option</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Awards<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Non-Equity</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Incentive</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Plan</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Compensation<SUP>(2)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">All Other<BR> Compensation</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 19%; text-align: left; padding-left: 5.4pt">Robert G. Finizio</TD><TD STYLE="width: 1%; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">2017</TD><TD STYLE="width: 1%; text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">40,000</TD><TD STYLE="width: 2%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1,756,609</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">570,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">17,346</TD><TD STYLE="width: 2%; text-align: left"><SUP>(5)</SUP></TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">2,983,955</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 0.125in">Chief Executive Officer</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2016</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left"><SUP>(3)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,347</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,263,347</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2015</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">550,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,565,253</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">962,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,155</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,092,908</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">John C.K. Milligan, IV</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2017</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left"><SUP>(3)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,026,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">299,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,446</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,840,029</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">President and Secretary</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2016</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">315,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,079</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">784,079</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2015</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">350,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,402,764</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">367,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,404</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,140,668</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Daniel A. Cartwright</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2017</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left"><SUP>(3)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">671,064</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">249,375</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">17,346</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,352,785</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 0.125in">Chief Financial Officer</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2016</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">262,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,066</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">651,566</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in">and Treasurer</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2015</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">345,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,561,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">362,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,792</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,283,839</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Mitchell L. Krassan</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2017</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">671,064</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">171,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,346</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,221,410</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Executive Vice President</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2016</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,608</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">465,608</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-left: 0.125in">and Chief Strategy Officer</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2015</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">232,388</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">720,829</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">76,478</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,289</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,040,984</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Michael Donegan</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2017</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">157,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,875</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,718</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">531,491</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Vice President - Finance</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2016</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">290,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">72,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,176</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">374,676</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2015</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">180,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">480,553</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,218</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">706,771</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>






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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">The valuation methodology used to determine the fair value of the options granted during the year
was the Black-Scholes-Merton option-pricing model, an acceptable model in accordance with ASC 718-10. The Black-Scholes-Merton
model requires the use of several assumptions, including volatility of the stock price, the weighted average risk-free interest
rate, and the weighted average expected life of the options. For further information, see &ldquo;Note 8 &mdash; Stockholders&rsquo;
Equity&rdquo; included in the financial statements included in our Annual Report on Form 10-K filed with the SEC for the fiscal
year ended December 31, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Amounts in this column for fiscal 2017, 2016 and 2015 represent the amounts earned and payable
under our 2017, 2016 and 2015 annual performance-based incentive plan, which were earned and payable in fiscal 2017, 2016 and 2015
but were not paid until after the end of fiscal 2017, 2016 and 2015, respectively. In addition, for Messrs. Finizio, Milligan,
and Cartwright, amounts in this column for fiscal 2015 include cash incentive payments in the amounts of $412,500, $122,500, and
$120,750, respectively, that were paid in fiscal 2015 following the completion of our underwritten public offering of common stock
in February 2015 as a result of such officers&rsquo; determination not to accept any cash incentive payments for fiscal 2014 unless
and until the company was able to complete an additional corporate financing transaction. For a description of our 2017 performance-based
incentive plan and amounts earned thereunder, see &ldquo;Compensation Discussion and Analysis &mdash;Fiscal 2017 Compensation&mdash;
Annual Performance-Based Incentive Plan.&rdquo;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">Includes an additional discretionary payment of $50,000 for 2016 related to completion of certain
milestones related to our clinical trials for Messrs. Finizio and an additional discretionary bonus of $40,000 for 2017 related
to the outstanding work in the performance of the Company&rsquo;s objectives for Messrs. Finizio, Milligan, and Cartwright.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">Consists of health insurance premiums paid on Mr. Milligan&rsquo;s behalf and a $5,100 car allowance
for 2017, 2016 and 2015.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">Consists of health insurance premiums paid on the NEO&rsquo;s behalf.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">Consists of benefit premiums paid on the NEO&rsquo;s behalf and company match to 401(k) plan.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fiscal Year 2017 Grants of Plan-Based
Awards</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth certain information with respect to grants of plan-based awards to the NEOs for the fiscal year ended December 31, 2017.</P>

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



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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Estimated
        Future Payouts</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Under
        Non-Equity</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Incentive
        Plan Awards<SUP>(1)</SUP></B></FONT></P></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
        <B>All Other </B><BR>
        <B>Option </B><BR>
        <B>Awards: </B><BR>
        <B>Number of </B><BR>
        <B>Securities </B><BR>
        <B>Underlying</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Options
        (#)</B></FONT></P>
        </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exercise</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>or
        Base </B><BR>
        <B>Price of </B><BR>
        <B>Option </B><BR>
        <B>Awards</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($/Sh)</B></FONT></P></TD>
    <TD ROWSPAN="2" STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grant</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date
Fair</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Value of Stock and Option</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Awards<SUP>(2)</SUP></B></FONT></P></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grant
    Date</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Threshold</B><BR>
    <B>($)</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Target</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maximum</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 19%; padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert
    G. Finizio</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/15/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">445,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.83</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,756,609</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John
    C.K. Milligan, IV</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/15/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">260,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.83</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,026,333</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel
    A. Cartwright</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">262,500</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/15/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">170,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.83</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">671,064</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitchell
    L. Krassan</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">180,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/15/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">170,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.83</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">671,064</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael
    Donegan</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,500</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.45pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/15/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.83</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">157,898</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


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

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Our fiscal 2017 annual performance-based cash bonus plan had no threshold or maximums. The amounts
reflect the applicable target incentive cash compensation opportunity for our NEOs under our fiscal 2017 annual performance-based
cash bonus plan. All such awards have been paid, and the actual amounts paid are set forth under the &ldquo;Non-Equity Incentive
Plan Compensation&rdquo; in the Fiscal Year 2017 Summary Compensation Table above. Our fiscal 2017 annual performance-based cash
bonus plan is discussed under &ldquo;Compensation Discussion and Analysis &mdash; Fiscal 2017 Compensation &mdash; Annual Performance-Based
Cash Bonus Plan.&rdquo;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The amounts shown in this column represent the grant date fair value for stock option awards granted
to our NEOs during the covered year calculated in accordance with ASC 718, excluding the effects of forfeitures. The assumptions
used in determining the grant date fair value of these awards are set forth in the notes to our consolidated financial statements,
which are included in our Annual Report on Form 10-K filed with the SEC for the fiscal year ended December 31, 2017. We calculated
the estimated value of the award based on the closing stock price of our common stock on the date of grant.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><B>Outstanding
Equity Awards at Fiscal Year-End 2017</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth information with respect to outstanding equity-based awards held by our NEOs at December 31, 2017.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <TD STYLE="text-align: center; padding-left: 5.4pt"><B>&nbsp;</B></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid"><B>Option Awards</B></TD><TD STYLE="text-align: center; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt; border-left: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-top: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Number of</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Securities Underlying</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Option</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Option</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unexercised Options</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Exercise</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Expiration</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Grant Date</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercisable</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">Unexercisable</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid">Robert G. Finizio</TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 5%; text-align: right">01</TD><TD NOWRAP STYLE="width: 9%; text-align: left">/01/2009<SUP>(1)</SUP></TD><TD STYLE="width: 1%; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,472,910</TD><TD STYLE="width: 4%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 2%; text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.10</TD><TD STYLE="width: 2%; text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">01/01/2019</FONT></TD><TD STYLE="width: 2%; text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">02</TD><TD NOWRAP STYLE="text-align: left">/27/2012<SUP>(2)(16)</SUP></TD><TD STYLE="border-right: Black 1pt solid"><SUP>&nbsp;</SUP></TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.20</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">02/27/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">04</TD><TD NOWRAP STYLE="text-align: left">/16/2012<SUP>(3)(16)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.55</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">04/16/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">11</TD><TD NOWRAP STYLE="text-align: left">/30/2012<SUP>(4)(16)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">268,474</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.00</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11/30/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">12</TD><TD NOWRAP STYLE="text-align: left">/17/2015<SUP>(6)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">950,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12/17/2025</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">03</TD><TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">/15/2017<SUP>(7)</SUP></TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">445,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">6.83</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">03/15/2027</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; padding-top: 6pt">John C.K. Milligan, IV</TD><TD STYLE="padding-top: 6pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; padding-top: 6pt">01</TD><TD NOWRAP STYLE="text-align: left; padding-top: 6pt">/01/2009<SUP>(1)</SUP></TD><TD STYLE="border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">2,032,255</TD><TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">$</TD><TD STYLE="text-align: right; padding-top: 6pt">0.10</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt"><FONT STYLE="font-size: 10pt">01/01/2019</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">02</TD><TD NOWRAP STYLE="text-align: left">/27/2012<SUP>(2)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.20</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">02/27/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">04</TD><TD NOWRAP STYLE="text-align: left">/16/2012<SUP>(3)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.55</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">04/16/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">11</TD><TD NOWRAP STYLE="text-align: left">/30/2012<SUP>(4)(17)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.00</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11/30/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">05</TD><TD NOWRAP STYLE="text-align: left">/02/2013<SUP>(8)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.80</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">05/02/2023</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">01</TD><TD NOWRAP STYLE="text-align: left">/06/2014<SUP>(9)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.05</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">01/06/2024</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">12</TD><TD NOWRAP STYLE="text-align: left">/17/2015<SUP>(6)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12/17/2025</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">03</TD><TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">/15/2017<SUP>(7)</SUP></TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">260,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">6.83</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">03/15/2027</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; padding-top: 6pt">Daniel A. Cartwright</TD><TD STYLE="padding-top: 6pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; padding-top: 6pt">10</TD><TD NOWRAP STYLE="text-align: left; padding-top: 6pt">/21/2011<SUP>(10)</SUP></TD><TD STYLE="border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">260,000</TD><TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">$</TD><TD STYLE="text-align: right; padding-top: 6pt">0.38</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt"><FONT STYLE="font-size: 10pt">10/21/2021</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">11</TD><TD NOWRAP STYLE="text-align: left">/30/2012<SUP>(4)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">700,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.00</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11/30/2022</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">12</TD><TD NOWRAP STYLE="text-align: left">/17/2015<SUP>(6)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">325,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12/17/2025</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">03</TD><TD NOWRAP STYLE="text-align: left">/15/2017<SUP>(7)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.83</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">03/15/2027</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; padding-top: 6pt">Mitchell L. Krassan</TD><TD STYLE="padding-top: 6pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD NOWRAP STYLE="text-align: right; padding-top: 6pt">05</TD><TD NOWRAP STYLE="text-align: left; padding-top: 6pt">/01/2010<SUP>(11)</SUP></TD><TD STYLE="border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">105,703</TD><TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">$</TD><TD STYLE="text-align: right; padding-top: 6pt">0.19</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt"><FONT STYLE="font-size: 10pt">05/01/2020</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">09</TD><TD NOWRAP STYLE="text-align: left">/01/2010<SUP>(12)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">683,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">09/01/2020</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">11</TD><TD NOWRAP STYLE="text-align: left">/21/2014<SUP>(13)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,750</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.01</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11/21/2024</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">12</TD><TD NOWRAP STYLE="text-align: left">/17/2015<SUP>(6)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12/17/2025</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">03</TD><TD NOWRAP STYLE="text-align: left">/15/2017<SUP>(7)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.83</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">03/15/2027</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; padding-top: 6pt">Michael Donegan</TD><TD STYLE="padding-top: 6pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">06</TD><TD STYLE="text-align: left; padding-top: 6pt">/21/2013<SUP>(14)</SUP></TD><TD STYLE="border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">75,000</TD><TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">$</TD><TD STYLE="text-align: right; padding-top: 6pt">2.98</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD><TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 6pt">&nbsp;</TD><TD STYLE="text-align: right; padding-top: 6pt"><FONT STYLE="font-size: 10pt">06/21/2023</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; padding-top: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">07</TD><TD STYLE="text-align: left">/09/2014<SUP>(15)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,500</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.01</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">07/09/2024</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">/17/2015<SUP>(6)</SUP></TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12/17/2025</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-bottom: 8pt">03</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">/15/2017<SUP>(7)</SUP></TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-bottom: 8pt">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-bottom: 8pt">40,000</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-bottom: 8pt">6.83</TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">03/15/2027</FONT></TD><TD STYLE="text-align: left; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD></TR>
</TABLE>



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

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

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<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="text-align: center; border-bottom: Black 1pt solid; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid"><B>Warrants</B></TD><TD STYLE="text-align: center; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Number of</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Securities Underlying</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Warrant</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Warrant</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unexercised Warrants</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Exercise</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Expiration</TD><TD STYLE="font-weight: bold; text-align: center; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-left: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Grant Date</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercisable</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unexercisable</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; text-align: left; border-left: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">Robert G. Finizio</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">03</TD><TD STYLE="width: 9%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">/06/2011<SUP>(18)</SUP></TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">179,000</TD><TD STYLE="width: 4%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&mdash;</TD><TD STYLE="width: 2%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">0.24</TD><TD STYLE="width: 2%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt"><FONT STYLE="font-size: 10pt">03/06/2021</FONT></TD><TD STYLE="width: 2%; text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-left: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">John C.K. Milligan, IV</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">03</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">/06/2011<SUP>(18)</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">179,000</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&mdash;<BR>
&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">0.24</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt"><FONT STYLE="font-size: 10pt">03/06/2021</FONT></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; border-left: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">Daniel A. Cartwright</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">10</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">/21/2011<SUP>(19)</SUP></TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">600,000</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">0.38</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt"><FONT STYLE="font-size: 10pt">10/20/2021</FONT></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD></TR>
</TABLE>



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

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

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">The stock options granted on January 1, 2009 vested monthly on the first day of each month over
three years.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">The stock options granted on February 27, 2012 vested in full on February 27, 2013.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">The stock options granted on April 16, 2012 vested in full on December 31, 2012.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">The stock options granted on November 30, 2012 vested annually on November 30 of each year over
three years.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">Mr. Finizio was initially granted stock options to purchase 900,000 of our common stock; however,
on May&nbsp;8, 2013, Mr. Finizio agreed to relinquish his right to receive 600,000 shares of our common stock underlying these
stock options.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">The stock options granted on December 17, 2015 vested monthly over 12 months beginning on January
21, 2016.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="text-align: justify">The stock options granted on March 15, 2017 will vest annually over 3 years on the anniversary
of the grant date.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(8)</TD><TD STYLE="text-align: justify">The stock options granted on May 2, 2013 vested in full on December 31, 2013.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(9)</TD><TD STYLE="text-align: justify">The stock options granted on January 6, 2014 vested in full on December 31, 2014.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(10)</TD><TD STYLE="text-align: justify">The stock options granted on October 21, 2011 vested annually over four years on the anniversary
of the grant date.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(11)</TD><TD STYLE="text-align: justify">The stock options granted on May 1, 2010 vested in full on May 1, 2011.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(12)</TD><TD STYLE="text-align: justify">The stock options granted on September 1, 2010 vested monthly over three years on the first day
of each month following the first month after the date of grant.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(13)</TD><TD STYLE="text-align: justify">The stock options granted on November 21, 2014 will vest annually over four years on the anniversary
of the grant date.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(14)</TD><TD STYLE="text-align: justify">The stock options granted on June 21, 2013 vested annually over three years on the anniversary
of the grant date.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(15)</TD><TD STYLE="text-align: justify">The stock options granted on July 9, 2014 will vest annually over four years on the anniversary
of the grant date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(16)</TD><TD STYLE="text-align: justify">This award has been transferred to the Robert G. Finizio GRAT No. 2 dated May 4, 2015.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(17)</TD><TD STYLE="text-align: justify">500,000 options have been transferred to the John C.K. Milligan IV GRAT No. 2 dated April 28, 2015.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(18)</TD><TD STYLE="text-align: justify">The warrants granted on March 6, 2011 vested quarterly starting on June 30, 2011 over eight quarters.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(19)</TD><TD STYLE="text-align: justify">The warrant granted on October 21, 2011 vested monthly over 44 months beginning on November 21,
2011.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Option Exercises and Stock Vested in
Fiscal Year 2017</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During fiscal 2017,
none of our NEOs acquired shares upon the exercise of stock options or the vesting of stock awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Post-Employment Compensation </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Pension Benefits</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not offer any
defined benefit pension plans for any of our employees. We have a 401(k) plan in which employees may participate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Other Compensation</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our executive
officers are eligible to participate in our employee benefit plans, including medical, dental, life insurance, and tax-qualified
Section 401(k) retirement savings plans. These plans are available to all employees and do not discriminate in favor of executive
officers. It is generally our policy to not extend significant perquisites to executives that are not broadly available to our
other employees. In designing these elements, we seek to provide an overall level of benefits that is competitive with that offered
by similarly situated companies in the markets in which we operate based upon our general understanding of industry practice. These
benefits are not considered in determining the compensation of our executive officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employment Agreements </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Robert G. Finizio has
an employment agreement that commenced November 8, 2012; the agreement initially provided for a three-year term and now automatically
renews for additional one-year terms each year on the anniversary of execution unless notice of non-renewal is given by either
our company or Mr. Finizio at least 90 days prior to such anniversary. The agreement originally provided for: (i) a time-based
ten-year stock option, or the Time-Based Option, granted and issued on November 30, 2012, or the Date of Grant, to purchase 900,000
shares of our common stock with the exercise price equal to $3.00, with the underlying shares vesting annually over three years
on the anniversary of the employment date, (ii) the right to receive a performance-based ten-year stock option, or the Performance-Based
Option, in an amount to be determined, (iii) a salary of not less than $355,100 per year, and (iv) an annual short-term incentive
compensation of up to 35% of salary, at the discretion of our Board of Directors. Mr.&nbsp;Finizio will receive employee benefits,
vacation, and other perquisites as may be determined from time to time. Conditions of termination call for (i) termination immediately
upon death, (ii) termination upon a disability in which Mr. Finizio is unable to perform his duties for more than 180 total calendar
days during any 12-month period, (iii) voluntary termination by Mr. Finizio upon a 14 calendar day prior notice, (iv) involuntary
termination by our company without cause with 60-day notice (or 90-day notice when termination is due to the non-extension of the
employment term by our company), (v) termination for cause, and (vi)&nbsp;termination for good reason wherein Mr. Finizio will
have 90 days from the date of notice to terminate his employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">John C.K. Milligan,
IV has an employment agreement that commenced November 8, 2012; the agreement initially provided for a three-year term and now
automatically renews for additional one-year terms each year on the anniversary of execution unless notice of non-renewal is given
by either our company or Mr. Milligan at least 90 days prior to such anniversary. The agreement originally provided for: (i) a
Time-Based Option granted and issued on the Date of Grant to purchase 800,000 shares of our common stock with the exercise price
equal to $3.00, with the underlying shares vesting annually over three years on the anniversary of the employment date, (ii) the
right to receive a Performance-Based Option in an amount to be determined, (iii) a salary of not less than $288,100 per year, and
(iv) an annual short-term incentive compensation of up to 30% of salary, at the discretion of our Board of Directors. Mr. Milligan
will receive employee benefits, vacation, and other perquisites as may be determined from time to time. Conditions of termination
call for (i) termination immediately upon death, (ii) termination upon a disability in which Mr. Milligan is unable to perform
his duties for more than 180 total calendar days during any 12-month period, (iii) voluntary termination by Mr.&nbsp;Milligan upon
a 14 calendar day prior notice, (iv) involuntary termination by our company without cause with 60-day notice or (90-day notice
when termination is due to the non-extension of the employment term by our company), (v) termination for cause, and (vi)&nbsp;termination
for good reason wherein Mr. Milligan shall have 90 days from the date of notice to terminate his employment. The employment agreement
contains standard provisions for confidentiality and noncompetition.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Daniel A. Cartwright
has an employment agreement that commenced November 8, 2012; the agreement initially provided for a three-year term and now automatically
renews for additional one-year terms each year on the anniversary of execution unless notice of non-renewal is given by either
our company or Mr. Cartwright at least 90 days prior to such anniversary. The agreement originally provided for: (i) a Time-Based
Option granted and issued on the Date of Grant to purchase 700,000 shares of our common stock with the exercise price equal to
$3.00, with the underlying shares vesting annually over three years on the anniversary of the employment date, (ii) the right to
receive a Performance-Based Option in an amount to be determined, (iii) a salary of not less than $257,100 per year, and (iv) an
annual short-term incentive compensation of up to 30% of salary, at the discretion of our Board of Directors. Mr. Cartwright will
receive employee benefits, vacation, and other perquisites as may be determined from time to time. Conditions of termination call
for (i) termination immediately upon death, (ii) termination upon a disability in which Mr. Cartwright is unable to perform his
duties for more than 180 total calendar days during any 12-month period, (iii) voluntary termination by Mr.&nbsp;Cartwright upon
a 14 calendar day prior notice, (iv) involuntary termination by our company without cause with 60-day notice or (90-day notice
when termination is due to the non-extension of the employment term by our company), (v) termination for cause, and (vi)&nbsp;termination
for good reason wherein Mr. Cartwright will have 90 days from the date of notice to terminate his employment. The employment agreement
contains standard provisions for confidentiality and noncompetition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mitchell Krassan has
a one year employment agreement that commenced on December 17, 2015, subject to automatic renewals of one year terms, which calls
for (i) a time-based one-year stock option granted to purchase 150,000 shares of our common stock, which was issued on December
21, 2015 with the exercise price equal to $8.92, with the underlying shares vesting monthly in one-twelfth increments beginning
on the one month anniversary of the date of the grant, (ii) a salary of not less than $300,000 per year, and (iii) an annual short-term
incentive compensation target of 50% of salary, at the discretion of our Board of Directors. Mr. Krassan will receive employee
benefits, vacation, and other perquisites as may be determined from time to time. Conditions of termination call for (i) termination
immediately upon death, (ii) termination upon a disability in which Mr. Krassan is unable to perform his duties for six consecutive
months, (iii) termination immediately by Mr. Krassan upon written notice, (iv) termination immediately by our company without cause,
(v) termination for cause upon ten days&rsquo; written notice, and (vi) termination by Mr. Krassan for good reason upon 30 days&rsquo;
written notice within 90 days of the event constituting good reason. The employment agreement contains standard provisions for
confidentiality and noncompetition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Michael Donegan has
a one year employment agreement that commenced on December 17, 2015, subject to automatic renewals of one year terms, which calls
for (i) a time-based one-year stock option to purchase 100,000 shares of our common stock, which was issued on December 21, 2015
with the exercise price equal to $8.92, with the underlying shares vesting monthly in one-twelfth increments beginning on the one
month anniversary of the date of the grant, (ii) salary of not less than $290,000 per year, and (iii) an annual short-term incentive
compensation target of 25% of salary, at the discretion of our Board of Directors. Mr. Donegan will receive employee benefits,
vacation, and other perquisites as may be determined from time to time. Conditions of termination call for (i) termination immediately
upon death, (ii) termination upon a disability in which Mr. Donegan is unable to perform his duties for six consecutive months,
(iii) termination immediately by Mr. Donegan upon written notice, (iv) termination immediately by our company without cause, (v)
termination for cause upon ten days&rsquo; written notice, and (vi) termination by Mr. Donegan for good reason upon 30 days&rsquo;
written notice within 90 days of the event constituting good reason. The employment agreement contains standard provisions for
confidentiality and noncompetition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Potential Payments Upon Termination
or Change in Control </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have employment
agreements with certain of our executive officers as described above. The arrangements reflected in these employment agreements
are designed to encourage the officers&rsquo; full attention and dedication to our company currently and, in the event of any proposed
change of control, provide these officers with individual financial security. The employment agreements provide for specified payments
and benefits only upon a qualifying termination of employment as described below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Termination by Us Without Good Cause
or by Executive with Good Reason - No Change in Control</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the employment
agreements for each of Messrs. Finizio, Milligan, and Cartwright, in the event of termination of the executive&rsquo;s employment
without &ldquo;cause&rdquo; or resignation by the executive for &ldquo;good reason&rdquo; (as each term is defined in the employment
agreements), the executive would be entitled to (i) the sum of his salary, payable on a biweekly basis ratably over 52 weeks, and
target annual incentive compensation for the fiscal year in which such termination of employment occurs, (ii) a continuation of
welfare benefits for a period of one year after such termination, and (iii) amounts accrued but unpaid at the time of termination.
Additionally, all outstanding equity awards that vest solely on the passage of time held by such executives would immediately vest
in full for each of Messrs. Finizio, Milligan, and Cartwright. If a change in control is consummated on or prior to the first anniversary
of the effective date of termination, then, prior to such consummation, the company will be required to deliver to the executive
the number of shares of company common stock the executive forfeited upon termination pursuant to unvested performance-based restricted
stock awards and all other equity awards held by the executive will accelerate in full.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the employment
agreements for each of Messrs. Donegan and Krassan, in the event of termination of the executive&rsquo;s employment without &ldquo;good
cause&rdquo; or resignation by the executive for &ldquo;good reason&rdquo; (as each term is defined in the employment agreements),
the executive would be entitled to (i) the sum of his salary payable over a 12-month period, (ii) any target annual incentive compensation
for the fiscal year in which such termination of employment occurs, (iii) a continuation of welfare benefits for a period of one
year after such termination, and (iv) payment of accrued but unused paid time off. Additionally, all unvested equity compensation
granted after the date of the employment agreement and held by the executive in his capacity as an employee would immediately vest
as of the effective date of termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Termination or Resignation in Connection
with a Change in Control</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of termination
of the executive&rsquo;s employment without &ldquo;cause&rdquo; or resignation by the executive for &ldquo;good reason&rdquo; (as
each term is defined in the employment agreements), following the date of the announcement of a transaction that leads to a change
in control and up to 12 months following the date of the change in control, in addition to those payments and benefits provided
to salaried employees generally, including amounts accrued but unpaid at the time of termination:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Messrs. Finizio and Milligan would be entitled to (i) the sum of their respective salary and target
annual incentive compensation for the fiscal year in which such termination of employment occurs, (ii) a continuation of welfare
benefits for a period of one year after such termination, and (iii) all other rights and benefits the executive is vested in, pursuant
to other plans and programs of our company, and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Mr. Cartwright would be entitled to (i) an amount equal to 150% of his salary and target annual
incentive compensation for the fiscal year in which such termination of employment occurs, payable in a lump sum, (ii) a continuation
of welfare benefits for a period of 18 months after such termination, and (iii) all other rights and benefits the executive is
vested in, pursuant to other plans and programs of our company.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, all outstanding
long-term incentive awards and warrants would immediately vest in full for each of Messrs. Finizio, Milligan, and Cartwright.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Termination by Reason of Death or Disability</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For Messrs. Finizio,
Milligan, and Cartwright, in the event of termination of the executive&rsquo;s employment by reason of his death or &ldquo;disability&rdquo;
(as such term is defined in the employment agreements), in addition to those payments and benefits provided to salaried employees
generally, including amounts accrued but unpaid at the time of termination, each of the executives would be entitled to (i) pro-rated
target annual incentive compensation for the fiscal year in which such termination of employment occurs, payable in a lump sum,
(ii)&nbsp;immediate vesting of all outstanding equity awards that vest solely on the passage of time, and (iii) all other rights
and benefits the executive is vested in, pursuant to other plans and programs of our company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The tables below reflect
the amount of compensation to certain of our NEOs, assuming termination of such executive&rsquo;s employment without cause or for
good reason or following a change in control of our company on December 31, 2017. Other than as set forth below, no amounts will
be paid to our NEOs in the event of termination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Robert G. Finizio </U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Executive Benefits and <BR>
Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without Good Cause or with Good Reason (Not in Connection with a Change in Control)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without<BR>
 Good Cause or with <BR>
Good Reason Following <BR>
a Change in Control</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination by Reason of <BR>
Death
    or Disability</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Cash severance</TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">1,187,346</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">1,187,346</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 17%; text-align: right; border-bottom: Black 1pt solid">570,000</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Equity awards<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">Other</TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>John C.K. Milligan, IV</U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Executive Benefits and <BR>
Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without Good Cause or with Good Reason (Not in Connection with a Change in Control)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without<BR>
 Good Cause or with <BR>
Good Reason Following <BR>
a Change in Control</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination by Reason of <BR>
Death or Disability</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Cash severance</TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">768,596</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">768,596</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 17%; text-align: right; border-bottom: Black 1pt solid">299,250</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Equity awards<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">Other<SUP>(4)</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,100</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,100</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,100</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Daniel A. Cartwright</U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Executive Benefits and <BR>
Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without Good Cause
    or Resignation with Good Reason (Not in Connection with a Change in Control)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without<BR>
 Good Cause or Resignation with Good Reason Following <BR>
a Change in Control</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination by Reason of <BR>
Death or Disability</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Cash severance</TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">641,721</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">953,909</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 17%; text-align: right; border-bottom: Black 1pt solid">249,375</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Equity awards<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">Other</TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Mitchell Krassan</U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Executive Benefits and <BR>
Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without Good Cause
    or Resignation with Good Reason (Not in Connection with a Change in Control)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without<BR>
 Good Cause or Resignation with Good Reason Following <BR>
a Change in Control</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination by Reason of<BR>
 Death or Disability</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Cash severance</TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">550,346</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">550,346</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 17%; text-align: right; border-bottom: Black 1pt solid">171,000</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Equity awards<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">Other</TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Michael Donegan</U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Executive Benefits and <BR>
Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without Good Cause
    or Resignation with Good Reason (Not in Connection with a Change in Control)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination Without<BR>
 Good Cause or Resignation with Good Reason Following <BR>
a Change in Control</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Termination by Reason of <BR>
Death or Disability</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Cash severance</TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">373,593</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 16%; text-align: right; border-bottom: Black 1pt solid">373,593</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(1)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 17%; text-align: right; border-bottom: Black 1pt solid">68,875</TD><TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Equity awards<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">Other</TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Consists of payments due to executive for (i) salary, (ii) target annual incentive compensation,
and (iii) health and welfare benefits. In the case of Mr. Cartwright following a change in control, consists of (i) 150% of salary,
(ii) 150% of target annual incentive compensation, and (iii) health and welfare benefits.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Represents full annual incentive compensation that would be prorated based on termination date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Represents the value of unvested equity awards that would become fully vested upon a termination
without cause, resignation for good reason, or in connection with a change in control. The value is calculated by multiplying the
number of shares underlying each accelerated award by the difference between the per share closing price of the Common Stock on
December 31, 2017 and the per share exercise price.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Represents the amount payable for a car allowance.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nonqualified Deferred Compensation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not offer any
deferred compensation plans for any of our NEOs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Limitation of Directors&rsquo; Liability;
Indemnification of Directors, Officers, Employees, and Agents</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
articles of incorporation and bylaws, each as amended, provide that we may indemnify to the full extent of our power to do so,
all directors, officers, employees, and/or agents. The effect of this provision in the amended and restated articles of incorporation
is to eliminate the rights of our company and our stockholders, either directly or through stockholders&rsquo; derivative suits
brought on behalf of our company, to recover monetary damages from a director for breach of the fiduciary duty of care as a director
except in those instances described under Nevada law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Insofar as indemnification
by our company for liabilities arising under the Securities Act of 1933, as amended, or the Securities Act, may be permitted to
officers and directors of our company pursuant to the foregoing provisions or otherwise, we are aware that in the opinion of the
SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CHIEF EXECUTIVE OFFICER&nbsp;PAY RATIO</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For 2017, the total
compensation <FONT STYLE="background-color: white">of</FONT> our Chief Executive Officer of $2,983,955, as presented in the Summary
Compensation Table, was approximately 29 times the total compensation of our median employee of $104,675. To identify the median
of the annual compensation of all of our employees (other than the CEO), we used wages from our payroll records as reported to
the Internal Revenue Service on Form W-2 for fiscal year 2017 and added the fair value of options granted in 2017. The median employee
was identified by reviewing the total compensation for all employees (other than the CEO) who were employed by us on December 31,
2017. All of our employees were included, whether employed on a full-time, part-time or seasonal basis. Adjustments were made to
annualize the compensation of employees who were not employed by us for the entire year. No full-time equivalent adjustments were
made for part time employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC&rsquo;s&nbsp;pay
ratio&nbsp;disclosure rules provide reporting companies with a great deal of flexibility in determining the methodology used to
identify the median employee and the&nbsp;pay ratio. As such, our methodology may differ materially from the methodology used by
other companies to prepare their&nbsp;pay ratio&nbsp;disclosures, which may contribute to a lack of comparability between our&nbsp;pay
ratio&nbsp;and the&nbsp;pay ratio&nbsp;reported by other companies, including those within our industry.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda006"></A>EQUITY COMPENSATION PLAN INFORMATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2017, the following table shows the number of securities to be issued upon exercise of outstanding options under equity compensation
plans approved by our stockholders, which plans do not provide for the issuance of warrants or other rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</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="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Plan Category</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number
of</B><BR> <B>Securities to</B><BR> <B>Be Issued</B><BR> <B>Upon</B><BR> <B>Exercise of</B><BR> <B>Outstanding</B><BR> <B>Options</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(a)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Weighted-</B><BR>
<B>Average</B><BR> <B>Exercise</B><BR> <B>Price of</B><BR> <B>Outstanding</B><BR> <B>Options</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(b)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number
of </B><BR>
<B>Securities</B><BR> <B>Remaining </B><BR>
<B>Available</B><BR> <B>for Future </B><BR>
<B>Issuance</B><BR> <B>Under Equity</B><BR> <B>Compensation </B><BR>
<B>Plans</B><BR> <B>(Excluding </B><BR>
<B>Securities</B><BR> <B>Reflected in </B><BR>
<B>Column (a))</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(c)</B></P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: justify">Equity Compensation Plans Approved by Stockholders </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: right; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt">23,365,225 <SUP></SUP></FONT></TD><TD STYLE="width: 2%"><SUP>(1)</SUP></TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">3.78</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: right; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt">7,302,211</FONT></TD>
    <TD STYLE="width: 2%"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.75pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Equity Compensation Plans Not Approved by Stockholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 5.75pt">&#9472;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&#9472;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 5.75pt">&mdash;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 5.75pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Represents 18,575,084 shares issuable under the 2009 Long Term Incentive Compensation Plan, as
amended, or the 2009 Plan, and 4,790,141 shares issuable under the Amended and Restated 2012 Stock Incentive Plan, or the 2012
Plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Represents 2,173,878 shares available for future issuance under the 2009 Plan and 5,128,333 shares
available for future issuance under the 2012 Plan.</TD></TR></TABLE>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda007"></A>CERTAIN TRANSACTIONS AND RELATIONSHIPS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Policy Relating to Related Party Transactions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have a policy that
we will not enter into any material transaction in which a director or officer has a direct or indirect financial interest unless
the transaction is determined by our Board of Directors to be fair to us or is approved by a majority of our disinterested directors
or by our stockholders, as provided for under Nevada law. Generally, our Board of Directors as a whole determines whether a director
or officer has a direct or indirect (<I>i.e.</I>, any) financial interest in a transaction deemed material based upon our Code
of Conduct and Ethics and Nevada law. From time to time, our Audit Committee, in accordance with its charter, will also review
potential conflict of interest transactions involving members of our Board of Directors and our executive officers. The policy
with respect to such transactions is provided in our company&rsquo;s Code of Conduct and Ethics.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Related Party Transactions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Other than compensation
arrangements, we describe below transactions and series of similar transactions, since January 1, 2017, to which we were a party
or will be a party, in which:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the amounts involved exceeded or will exceed $120,000; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">any of our directors, executive officers, or holders of more than 5% of our voting securities,
or any member of the immediate family of the foregoing persons, had or will have a direct or indirect material interest.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Compensation arrangements
for our directors and NEOs are described elsewhere in this proxy statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Agreements with
Catalent, Inc.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">J. Martin Carroll,
a director of ours, has served as a director of Catalent, Inc. since July 2015. From time to time, we have entered into agreements
with Catalent in the normal course of business. All such agreements have been reviewed by disinterested directors of our company
or a committee consisting of disinterested directors of our company since July 2015. During the years ended December 31, 2017,
2016 and 2015, we were billed by Catalent approximately $3,646,000, $3,647,000 and $1,266,000, respectively, for manufacturing
activities related to our clinical trials, scale-up, registration batches, stability and validation testing. As of December 31,
2017 and December 31, 2016, there were amounts due to Catalent of approximately $523,000 and $57,000, respectively.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><A NAME="txmda008"></A>&nbsp;<BR STYLE="clear: both">
COMPENSATION COMMITTEE REPORT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Compensation Committee
has reviewed and discussed with management the Compensation Discussion and Analysis section included in this proxy statement and,
based on such review and discussions, the Compensation Committee recommended to our Board of Directors that the Compensation Discussion
and Analysis section be included in this proxy statement.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">April 27, 2018</TD>
    <TD STYLE="width: 50%">Respectfully
submitted,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Cooper C. Collins, Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">J. Martin Carroll</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tommy G. Thompson</P>
</TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda009"></A>DIRECTOR COMPENSATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We compensate our non-employee
directors with a combination of cash and equity. In 2017, each director received an annual cash retainer of $50,000 for such service
and an annual grant of stock options to purchase 50,000 shares of our common stock. In addition, the Chairman of the Board received
an additional $25,000 annual cash retainer and additional options to purchase 25,000 shares of our common stock. In addition, the
chairperson of our Audit Committee received an annual cash retainer of $25,000 and the other members of the Audit Committee received
an annual retainer of $10,000. The chairperson of our Compensation Committee received an annual cash retainer of $15,000 and the
other members of the Compensation Committee received an annual retainer of $7,500. The chairperson of each of our other committees
received an annual cash retainer of $10,000 and the other members received an annual retainer of $5,000. In addition, each director
received compensation of $500 for each telephonic meeting and $1,500 for each in person meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective January 1,
2018, we eliminated per meeting fees and revised the cash portion of our Board of Directors retainers as follows: each director
will receive an annual cash retainer of $57,500; the Chairman of the Board will receive an additional $30,000 annual cash retainer;
the chairperson of our Audit Committee will receive an annual cash retainer of $30,000 and the other members of the Audit Committee
will receive an annual cash retainer of $15,000; the chairperson of our Compensation Committee will receive an annual cash retainer
of $20,000 and the other members of the Compensation Committee will receive an annual cash retainer of $12,000; and the chairperson
of each of our other committees will receive an annual cash retainer of $12,500 and the other members will receive an annual cash
retainer of $7,500.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also reimburse our
directors for reasonable expenses related to attendance at Board of Directors and committee meetings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
and accompanying footnotes detail compensation paid to our directors for services rendered for the year ended December 31, 2017.
Messrs. Finizio&rsquo;s and Milligan&rsquo;s compensation is described above under &ldquo;Executive Compensation.&rdquo; Dr. Barlow
was appointed as a director of our company in March 2018 and did not receive compensation as a director for the year ended December
31, 2017.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fees Earned<BR> or Paid in Cash</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Option</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Awards<SUP>(1)(2)(3)</SUP></B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">All Other Compensation</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: justify; padding-left: 2.15pt">Brian A. Bernick, M.D. </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">671,064</TD><TD STYLE="width: 1%; text-align: left"><SUP>(4)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">626,875</TD><TD STYLE="width: 1%; text-align: left"><SUP>(5)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,297,939</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">J. Martin Carroll </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">240,865</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Cooper C. Collins </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">83,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">248,615</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Robert V. LaPenta, Jr. </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">88,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">253,615</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Jules A. Musing </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">64,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">229,365</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Nicholas Segal </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">64,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">229,615</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Angus C. Russell </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">165,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">233,865</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 2.15pt">Tommy G. Thompson </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">115,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">247,673</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">363,423</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">The valuation methodology used to determine the fair value of the options granted during the year
was the Black-Scholes-Merton option-pricing model, an acceptable model in accordance with ASC 718. The Black-Scholes-Merton model
requires the use of several assumptions including volatility of the stock price, the weighted average risk-free interest rate,
and the weighted average expected life of the options. For further information, see &ldquo;Note 8 &ndash; Stockholders&rsquo; Equity&rdquo;
included in the financial statements included in our Annual Report on Form 10-K filed with the SEC for the fiscal year ended December
31, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Stock options depicted in the table above were granted to directors (other than Dr. Bernick) for
serving on our Board of Directors on June 21, 2017 and will vest on June 21, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">On December 31, 2017, each of the directors listed in the &ldquo;Director Compensation&rdquo; table
had option awards outstanding to purchase the following number of shares of common stock: Dr.&nbsp;Bernick&nbsp;(2,252,910), Mr.
Collins (445,000), Mr. LaPenta (445,000), Mr.&nbsp;Thompson (907,500), Mr.&nbsp;Segal (462,057), Mr. Musing (570,000), Mr.&nbsp;Russell
(225,000), Mr. Carroll (225,000) and there were no forfeitures of stock options by any of such directors in fiscal 2017. Dr. Barlow
held no option awards on December 31, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">Consists of stock options granted to Dr. Bernick for his services as an executive of our company.
Dr. Bernick received no additional compensation for his duties as a director of our company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">Consists of cash compensation received by Dr. Bernick for his services as an officer of our company.</TD></TR></TABLE>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda010"></A>REPORT OF THE AUDIT COMMITTEE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board of Directors
has appointed an Audit Committee consisting of independent directors. All of the members of the committee must be &ldquo;independent&rdquo;
of our company and management, as independence is defined in applicable rules of the SEC and the Nasdaq listing standards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the
Audit Committee is to assist the oversight of our Board of Directors in the integrity of the financial statements of our company,
our company&rsquo;s compliance with legal and regulatory matters, the independent auditor&rsquo;s qualifications and independence,
and the performance of our company&rsquo;s independent auditor and any internal audit function. The primary responsibilities of
the committee include overseeing our company&rsquo;s accounting and financial reporting process and audits of the financial statements
of our company. Management has the primary responsibility for the financial statements and the reporting process, including the
systems of internal controls. The independent auditor is responsible for auditing the financial statements and expressing an opinion
on the conformity of those audited financial statements with generally accepted accounting principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In fulfilling its oversight
responsibilities, the committee reviewed and discussed the audited financial statements with management and the independent auditor.
The committee discussed with the independent auditor the matters required to be discussed by the guidelines of the SEC, the Sarbanes-Oxley
Act of 2002, Statement on Auditing Standards No. 61, as amended, and other applicable regulations. This included a discussion of
the independent auditor&rsquo;s judgments as to the quality, not just the acceptability, of our company&rsquo;s accounting principles
and such other matters as are required to be discussed with the committee under generally accepted auditing standards. In addition,
the committee received from the independent auditor written disclosures and the letter required by applicable requirements of the
Public Company Accounting Oversight Board regarding the independent accountant&rsquo;s communications with the audit committee
concerning independence. The committee also discussed with the independent auditor the independent auditor&rsquo;s independence
from management and our company, including the matters covered by the written disclosures and letter provided by the independent
auditor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The committee discussed
with our independent auditor the overall scope and plans for its audit. The committee meets with the independent auditor, with
and without management present, to discuss the results of the independent auditor&rsquo;s examinations, its evaluations of our
company, the internal controls, and the overall quality of the financial reporting. The committee held four meetings in 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the reviews
and discussions referred to above, the committee recommended to the Board of Directors, and the Board of Directors approved, that
the audited financial statements be included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 for
filing with the SEC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The report has been
furnished by the Audit Committee of our Board of Directors.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">April 27, 2018</TD>
    <TD STYLE="width: 50%">Robert V. LaPenta, Jr.,
Chairman</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cooper Collins</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Angus C. Russell</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Nicholas Segal</P>
</TD></TR>
</TABLE>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><A NAME="txmda011"></A>SECTION 16(a) BENEFICIAL OWNERSHIP
REPORTING COMPLIANCE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 16(a) of the
Exchange Act requires our directors, officers, and persons who own more than 10% of a registered class of our equity securities
to file reports of ownership and changes in ownership with the SEC. These regulations require the directors, officers, and persons
who own more than 10% of a registered class of our equity securities to furnish us with copies of all Section 16(a) forms they
file.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based solely upon our
review of the copies of such forms received by us during the fiscal year ended December 31, 2017, and written representations that
no other reports were required, we believe that each person who, at any time during such fiscal year was a director, officer, or
persons who own more than 10% of a registered class of our equity securities, complied with all Section 16(a) filing requirements
during such fiscal year.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="txmda012"></A>SECURITY OWNERSHIP OF PRINCIPAL STOCKHOLDERS,
DIRECTORS, AND OFFICERS<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth information regarding the beneficial ownership of our common stock as of April 26, 2018, by the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">each of our directors and executive officers;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">all of our directors and executive officers as a group; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">each person, or group of affiliated persons, who is known by us to beneficially own more than 5%
of our common stock.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beneficial ownership
is determined according to the rules of the SEC and generally means that a person has beneficial ownership of a security if he,
she, or it possesses sole or shared voting or investment power of that security, including options and warrants that are currently
exercisable or exercisable within 60 days of April 26, 2018. Shares issuable pursuant to stock options, warrants, and convertible
securities are deemed outstanding for computing the percentage of the person holding such options, warrants, or convertible securities
but are not deemed outstanding for computing the percentage of any other person. Except as indicated by the footnotes below, we
believe, based on the information furnished to us, that the persons named in the table below have sole voting and investment power
with respect to all shares of common stock shown that they beneficially own, subject to community property laws where applicable.
The information does not necessarily indicate beneficial ownership for any other purpose.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise indicated,
the address of each beneficial owner listed in the table below is c/o TherapeuticsMD, Inc., 6800 Broken Sound Parkway NW, Third
Floor, Boca Raton, Florida 33487.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares Beneficially Owned</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Name of Beneficial Owners</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Percent<SUP>(1)</SUP></B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify">Executive Officers and Directors:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: justify"><FONT STYLE="font-size: 10pt">Robert G. Finizio<SUP>(2)</SUP> </FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">23,762,276</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">10.80</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">John C.K. Milligan, IV<SUP>(3)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,532,527</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.32</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Daniel A. Cartwright<SUP>(4)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,941,666</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mitchell L. Krassan<SUP>(5)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,052,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Michael Donegan<SUP>(6)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225,833</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Brian Bernick, M.D.<SUP>(7)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,941,947</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.13</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Tommy G. Thompson <SUP>(8)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,591,556</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Jane F. Barlow, M.D., M.B.A, M.P.H </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">J. Martin Carroll<SUP>(9)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">235,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Cooper C. Collins<SUP>(10)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">481,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Robert V. LaPenta, Jr. <SUP>(11)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">455,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Jules A. Musing <SUP>(12)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">592,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Angus C. Russell<SUP>(13)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">273,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Nicholas Segal <SUP>(14)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,202,532</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">All executive officers and directors as a group (14 persons)<SUP>(15)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,061,978</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.85</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">5% Stockholders:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Bank of NY Mellon Corp.<SUP>(16)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,973,668</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.38</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FMR LLC<SUP>(17)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,068,840</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.65</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">JP Morgan Chase &amp; Co.<SUP>(18)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,648,012</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.07</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">T. Rowe Price Associates, Inc.<SUP>(19)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,431,395</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.05</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">BlackRock, Inc.<SUP>(20)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,431,862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.66</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">The Vanguard Group <SUP>(21)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,403,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.27</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Franklin Resources, Inc.<SUP>(22)</SUP> </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,992,409</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.08</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*Represents less than 1% of the outstanding
shares of our common stock.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Applicable percentage of ownership is based on 216,584,274 shares of common stock outstanding
                                                           as of April 26, 2018, as adjusted for each stockholder.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Includes (i) 18,393,559 shares held by Mr. Finizio directly, (ii) 1,630,090 shares held indirectly
by Mr. Finizio through a grantor-retained annuity trust, (iii) 369,910 shares held by Robert Finizio Revocable Trust, (iv) 3,189,717
shares issuable to Mr. Finizio upon the exercise of vested stock options and (v)&nbsp;179,000 shares issuable to Mr. Finizio upon
the exercise of a vested warrant.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">Represents (i) 2,987,523 shares held by John C.K. Milligan Revocable Trust U/A 08/10/2009, as amended
11/22/2011, or the Trust, (ii) 1,472,419 shares held by Goldman Sachs &amp; Co f/b/o John Milligan IRA, (iii)&nbsp;1,004,664 shares
held indirectly by Mr. Milligan through a grantor-retained annuity trust, (iv) 3,888,921 shares issuable to Mr. Milligan upon the
exercise of vested stock options and (v) 179,000 shares issuable to Mr. Milligan upon the exercise of a vested warrant. Mr. Milligan
serves as the trustee and is the beneficiary of the Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">Represents (i) 1,341,666 shares issuable to Mr. Cartwright upon the exercise of vested stock options
and (ii)&nbsp;600,000 shares issuable to Mr. Cartwright upon the exercise of a vested warrant.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">Represents 1,052,574 shares issuable to Mr. Krassan upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">Represents 225,833 shares issuable to Mr. Donegan upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="text-align: justify">Represents (i) 6,557,371 shares held by BF Investment Enterprises, Ltd., or BF Investment, (ii)&nbsp;242,000&nbsp;shares
held by Dr. Bernick and Beth Familant, as tenants by the entirety, (iii) 3,000 shares held by BF Management, LLC, or the GP, a
general partner of BF Investment, (iv) 1,757,910 shares issuable to BF&nbsp;Investment upon the exercise of vested stock options
and (v) 381,666 shares issuable to Dr. Bernick upon the exercise of vested stock options. Dr. Bernick serves as the Manager of
the GP and holds (x)&nbsp;together with his wife as tenants by the entirety, a 70.6% membership interest in the GP, (y) together
with his wife as tenants by the entirety, a 73% limited partner interest in BF Investment, and (z) in the aggregate, with his spouse
in their individual capacities, a 3.272% limited partner interest in BF&nbsp;Investment. Accordingly, Dr.&nbsp;Bernick may be deemed
to beneficially own the shares owned by BF Investment and the GP. Dr.&nbsp;Bernick disclaims beneficial ownership of any such shares
in which he does not have a pecuniary interest.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(8)</TD><TD STYLE="text-align: justify">Represents (i) 679,500 shares held by Thompson Family Investments, LLC, an entity solely owned
by Thompson Family Holdings, LLC, an entity solely owned by Mr. Thompson, of which 600,000 shares have been pledged to secure obligations
under a promissory note, (ii) 3,555 shares held by Mr. Thompson, (iii) 1,001 shares held indirectly by Thompson Family Holdings
and (iv) 907,500 shares issuable to Mr. Thompson upon exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(9)</TD><TD STYLE="text-align: justify">Includes (i) 10,000 shares held by Mr. Carroll directly and (ii) 225,000 shares issuable to Mr.
Carroll upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(10)</TD><TD STYLE="text-align: justify">Includes (i) 36,000 shares held by Mr. Collins directly and (ii) 445,000 shares issuable to Mr.
Collins upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(11)</TD><TD STYLE="text-align: justify">Includes (i) 5,000 shares held by Mr. LaPenta, Jr. directly, (ii) 5,000 shares held indirectly
by trusts for Mr. LaPenta&rsquo;s minor children and (iii) 445,000 shares issuable to Mr.&nbsp;LaPenta, Jr. upon the exercise of
vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(12)</TD><TD STYLE="text-align: justify">Includes (i) 22,400 shares held directly by Mr. Musing and (ii) 570,000 shares issuable to Mr.
Musing upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(13)</TD><TD STYLE="text-align: justify">Includes (i) 48,500 shares held by Mr. Russell directly and (ii) 225,000 shares issuable to Mr.
Russell upon the exercise of vested stock options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(14)</TD><TD STYLE="text-align: justify">Represents (i) 461,565 shares held directly by Mr. Segal, (ii) 462,057 shares issuable to Mr. Segal
upon the exercise of vested stock options and (iii) Mr. Segal&rsquo;s pro rata portion (278,910&nbsp;shares) of the shares held
by Fourth Generation Private Equity Partners, or Fourth Generation. Mr. Segal does not have voting or dispositive power over the
shares held by Fourth Generation. Richard Segal, in his official capacity, exercises sole voting and dispositive power over the
shares held by Fourth Generation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(15)</TD><TD STYLE="text-align: justify">This amount includes all shares directly and indirectly owned by all executive officers and directors
and all shares issuable directly and indirectly upon the exercise of vested stock options and warrants held by our executive officers
and directors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(16)</TD><TD STYLE="text-align: justify">Bank of New York Mellon Corporation has sole voting power over 25,904,325 shares and sole dispositive
power over 28,237,273 shares. Bank of New York Mellon Corporation&rsquo;s address is 225 Liberty Street, New York, New York 10286.
This information is based on Amendment No. 4 to Schedule 13G filed with the SEC on February 7, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(17)</TD><TD STYLE="text-align: justify">FMR LLC has sole voting power over 883,700 shares and sole dispositive power over 23,068,840 shares.
The address of FMR LLC is 245&nbsp;Summer&nbsp;Street, Boston, MA 02210. This information is based on Amendment No. 6 to Schedule
13G filed with the SEC on February&nbsp;13, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(18)</TD><TD STYLE="text-align: justify">JP Morgan Chase &amp; Co. has sole voting power over 17,398,886 shares and sole dispositive power
over 19,648,012 shares. JP Morgan Chase &amp; Co.&rsquo;s address is 270 Park Ave., New York, NY 10017. This information is based
on Amendment No. 1 to Schedule 13G filed with the SEC on January 26, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(19)</TD><TD STYLE="text-align: justify">T. Rowe Price Associates, Inc. has sole voting power over 3,220,088 shares and sole dispositive
power over 17,431,395 shares. T. Rowe Price Associates, Inc.&rsquo;s address is 100 E. Pratt Street, Baltimore, Maryland 21202.
This information is based on Amendment No. 4 to Schedule 13G filed with the SEC on February 14, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(20)</TD><TD STYLE="text-align: justify">BlackRock, Inc. has sole voting power over 14,104,842 shares and sole dispositive power over 14,431,862
shares. BlackRock, Inc.&rsquo;s address is 55 East 52<SUP>nd</SUP> Street, New York, NY 10055. This information is based on Amendment
No. 1 to Schedule 13G filed with the SEC on January 23, 2018.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(21)</TD><TD STYLE="text-align: justify">The Vanguard Group has sole voting power over 330,470 shares and sole dispositive power over 11,077,906
shares. The Vanguard Group&rsquo;s address is 100 Vanguard Blvd., Malvern, PA 19355. This information is based on Schedule 13G
filed with the SEC on February 9, 2018.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(22)</TD><TD STYLE="text-align: justify">Franklin Resources, Inc. has aggregate amount beneficially owned over 10,992,409 shares.
                                                            Franklin Resources, Inc.&rsquo;s address is One Franklin Parkway, San Mateo, CA 94403. This information is based on Amendment
                                                            No. 1 to Schedule 13G filed with the SEC on February 5, 2018.</TD></TR></TABLE>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U><A NAME="txmda013"></A>PROPOSAL TWO</U><BR>
<BR>
ADVISORY VOTE ON EXECUTIVE COMPENSATION (&ldquo;SAY-ON-PAY&rdquo;)</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Background</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dodd-Frank Act
enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our NEOs as disclosed in this
proxy statement in accordance with the SEC&rsquo;s rules.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Summary</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Section
14A of the Exchange Act, we are asking our stockholders to provide advisory approval of the compensation of our NEOs (which consist
of our Chief Executive Officer, our Chief Financial Officer, and our three other most highly compensated executive officers during
our last completed fiscal year), as such compensation is described in the Compensation Discussion and Analysis section, the tabular
disclosure regarding such compensation, and the accompanying narrative disclosure set forth in this proxy statement, beginning
on page 18. Our executive compensation program is designed to enable us to attract, motivate, and retain highly qualified executives.
This program provides long-term stock-based incentive compensation that focuses our executives&rsquo; efforts on building stockholder
value by aligning their interests with those of our stockholders. The following is a summary of some of the key points of our executive
compensation program. We urge our stockholders to review the Compensation Discussion and Analysis section included in this proxy
statement and the executive-related compensation tables for more information.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Board Recommendation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
believes that the information provided within the &ldquo;Executive Compensation&rdquo; section of this proxy statement demonstrates
our executive compensation program is designed appropriately and is working to ensure our NEOs receive the majority of their compensation
based on performance-driven considerations and that management&rsquo;s interests are aligned with our stockholders&rsquo; interests
to support long-term value creation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following resolution
is submitted for a stockholder vote at the annual meeting:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>RESOLVED</B>, that
the stockholders of the Company approve, on an advisory basis, the compensation of the Company&rsquo;s named executive officers
for the fiscal year ended December 31, 2017, as disclosed in the Compensation Discussion and Analysis section, compensation tables,
and narrative discussion set forth in this proxy statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The say-on-pay vote
is advisory, and therefore not binding on our company, our Compensation Committee, or our Board of Directors. Although non-binding,
the vote will provide information to our Compensation Committee and our Board of Directors regarding investor sentiment about our
executive compensation philosophy, policies, and practices, which our Compensation Committee and our Board of Directors will be
able to consider when determining executive compensation for the years to come.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">OUR BOARD OF DIRECTORS
UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE &ldquo;FOR&rdquo; ADOPTION OF THE RESOLUTION APPROVING THE COMPENSATION OF OUR NAMED
EXECUTIVE OFFICERS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2017, AS DESCRIBED IN THE COMPENSATION DISCUSSION AND ANALYSIS SECTION
AND THE RELATED TABULAR AND NARRATIVE DISCLOSURE SET FORTH IN THIS PROXY STATEMENT.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U><A NAME="txmda014"></A>PROPOSAL THREE</U><BR>
<BR>
RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee
of our Board of Directors has selected and appointed Grant Thornton as our independent registered public accounting firm for the
2018 fiscal year. Grant Thornton has served as our independent registered public accounting firm since March 30, 2015.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Audit Committee
recommends that stockholders vote in favor of the ratification of the appointment of Grant Thornton to audit the consolidated financial
statements of our company for the fiscal year ending December 31, 2018. Although ratification is not required by our bylaws or
otherwise, our Audit Committee is submitting the appointment of Grant Thornton to our stockholders for ratification as a matter
of good corporate practice. In the event of a negative vote on such ratification, our Audit Committee will reconsider its selection.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate that
representatives of Grant Thornton will be present at the 2018 Annual Meeting of Stockholders, will have the opportunity to make
a statement if they desire, and will be available to respond to appropriate questions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Aggregate fees billed
to our company for the fiscal year ended December 31, 2017 and 2016 by Grant Thornton, our independent registered public accounting
firm, were as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2017</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2016</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%; text-align: left">Audit Fees </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">327,880</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">342,755</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Audit-Related Fees </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tax Fees </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">94,128</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">96,261</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">All Other Fees </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Audit fees consist
of fees associated with the annual audit, including the audit of the effectiveness of internal control over financial reporting,
the reviews of our quarterly reports, and other filings with the SEC as well as comfort letters and consents. Tax fees included
the preparation of our tax returns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Audit Committee Pre-Approval Policies
and Procedures</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The charter of our
Audit Committee provides that the duties and responsibilities of our Audit Committee include the pre-approval, or adopting procedures
for pre-approval, of all audit, audit-related, tax, and other services permitted by law or applicable SEC regulations (including
fee and cost ranges) to be performed by our independent auditor. Any pre-approved services that will involve fees or costs exceeding
pre-approved levels will also require specific pre-approval by the Audit Committee. Unless otherwise specified by the Audit Committee
in pre-approving a service, the pre-approval will be effective for the 12-month period following pre-approval. The Audit Committee
will not approve any non-audit services prohibited by applicable SEC regulations or any services in connection with a transaction
initially recommended by the independent auditor, the purpose of which may be tax avoidance and the tax treatment of which may
not be supported by the Internal Revenue Code and related regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent deemed
appropriate, the Audit Committee may delegate pre-approval authority to the Chairman of the Audit Committee or any one or more
other members of the Audit Committee provided that any member of the Audit Committee who has exercised any such delegation must
report any such pre-approval decision to the Audit Committee at its next scheduled meeting. The Audit Committee will not delegate
to management the pre-approval of services to be performed by the independent auditor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Audit Committee
requires that our independent auditor, in conjunction with our Chief Financial Officer, be responsible for seeking pre-approval
for providing services to us and that any request for pre-approval must inform the Audit Committee about each service to be provided
and must provide detail as to the particular service to be provided.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of the services
provided by Grant Thornton described above were approved by our Audit Committee pursuant to our Audit Committee&rsquo;s pre-approval
policies. All of the hours spent by Grant Thornton in auditing our financial statements for the fiscal year ended 2017 and 2016
were attributed to work performed by Grant Thornton&rsquo;s full-time, permanent employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Ratification by Stockholders of the
Appointment of Independent Auditor</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ratification of the
appointment of Grant Thornton to audit the consolidated financial statements of our company for the fiscal year ending December
31, 2018 will require the affirmative vote of a majority of the votes cast, assuming that a quorum is present at the meeting.</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="txmda015"></A>DEADLINE FOR RECEIPT OF STOCKHOLDER
PROPOSALS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As more specifically
provided in our bylaws, as amended, no business may be brought before an annual meeting of stockholders unless it is specified
in the notice of the meeting or is otherwise properly brought before the meeting by or at the direction of our Board of Directors
or by a stockholder entitled to vote who has delivered proper notice to us, together with the information required by our bylaws,
as amended. Stockholder proposals that are intended to be presented by stockholders at the annual meeting of stockholders for the
fiscal year ending December 31, 2018 must be received by us not less than 90 days (by March 27, 2019) and not more than 120 days
(by February 26, 2019) before the anniversary of the prior year&rsquo;s annual meeting of stockholders, unless we change the date
of our 2019 annual meeting by more than 30 days before or 60 days after such anniversary date, in which case, stockholder proposals
must be received not earlier than 120 days prior to the annual meeting and not later than the later to occur of 90 days prior to
the annual meeting and ten days following the date on which a public announcement of the date of the annual meeting is first made
by us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stockholders interested
in submitting a proposal for inclusion in our proxy materials for the 2018 annual meeting may do so by following the procedures
set forth in Rule 14a-8 under the Exchange Act and our bylaws, as amended. To be eligible for inclusion in such proxy materials,
stockholder proposals must be received not later than December 31, 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stockholder proposals
should be addressed and delivered to our corporate secretary at the address of our executive offices set forth in this proxy statement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="txmda016"></A>HOUSEHOLDING OF PROXY MATERIALS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC has adopted
rules that permit companies and intermediaries (<I>e.g.</I>, brokers) to satisfy the delivery requirements for annual reports,
proxy statements, and Notices of Internet Availability of Proxy Materials with respect to two or more stockholders sharing the
same address by delivering a single proxy statement addressed to those stockholders. This process, which is commonly referred to
as &ldquo;householding,&rdquo; potentially means extra convenience for stockholders and cost savings for companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you and other stockholders
of record with whom you share an address currently receive multiple copies of our annual report, proxy statement, or Notice of
Internet Availability of Proxy Materials and would like to participate in our householding program, please contact Broadridge by
calling toll-free at 800-542-1061, or by writing to Broadridge Financial Solutions, Inc., Householding Department, 51 Mercedes
Way, Edgewood, New&nbsp;York 11717. Alternatively, if you participate in householding and wish to revoke your consent and receive
separate copies of our annual report, proxy statement, or Notice of Internet Availability of Proxy Materials, please contact Broadridge
as described above. In addition, we will promptly deliver, upon the written or oral request to Broadridge at the address or telephone
number above, a separate copy of our annual report, proxy statement, or Notice of Internet Availability of Proxy Materials to a
stockholder at a shared address to which a single copy of the documents was delivered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A number of brokerage
firms have instituted householding. If you hold your shares in street name, please contact your bank, broker or other holder of
record to request information about householding.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="txmda017"></A>OTHER MATTERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We know of no other
matters to be submitted at the meeting. If any other matters properly come before the meeting, it is the intention of the persons
named in the enclosed proxy card to vote the shares they represent as our Board of Directors may recommend.</P>

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

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

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

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 50%; font: 10pt Times New Roman, Times, Serif"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; padding-right: 0.25in"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td><p style="font: 10pt Sans-Serif; margin: 3pt 0"><font style="font-family: Arial, Helvetica, Sans-Serif"><img src="proxycard001.jpg" alt="(THERAPEUTICSMD LOGO)">&nbsp;</font></p>
        <p style="font: 10pt Sans-Serif; margin: 3pt 0"><font style="font-family: Arial, Helvetica, Sans-Serif"></font></p>

        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b><i>THERAPEUTICSMD, INC. <br>
6800 BROKEN SOUND PKWY NW, THIRD FLOOR
<br>
BOCA RATON, FL 33487</i></b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p></td>
    <TD STYLE="padding-right: 0.25in"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>VOTE
        BY INTERNET - <u>www.proxyvote.com</u></b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Use the Internet to transmit your voting instructions and for electronic
delivery of information up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card
in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction
form.</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ELECTRONIC
        DELIVERY OF FUTURE PROXY MATERIALS</b>&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">If you would like to reduce the costs incurred by our company in mailing
proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail
or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when
prompted, indicate that you agree to receive or access proxy materials electronically in future years.</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>VOTE
        BY PHONE - 1-800-690-6903</b>&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Use any touch-tone telephone to transmit your voting instructions up
until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then
follow the instructions.</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>VOTE
        BY MAIL</b>&nbsp;</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Mark, sign and date your proxy card and return it in the postage-paid
envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</font></p></td></tr>
</table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 33%"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 34%"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 33%"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2"><font style="font: 8pt Arial, Helvetica, Sans-Serif">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: Black 1pt dashed"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt dashed; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">E44338-P07387</font></td>
    <td style="border-bottom: Black 1pt dashed; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">KEEP
    THIS PORTION FOR YOUR RECORDS</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <TD NOWRAP STYLE="text-align: center; padding-top: 4pt; padding-bottom: 4pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</b></font></td>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">DETACH AND RETURN
    THIS PORTION ONLY</font></td></tr>
</table>


<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 2%; border-top: Black 2pt solid; border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 2%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 3%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 16%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 6%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 6%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 5%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 5%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 5%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 3%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 22%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 6%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 6%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 6%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 5%; border-top: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="width: 2%; border-top: Black 2pt solid; border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="5"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>THERAPEUTICSMD, INC.</b></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>For</b></font><font style="font-family: Arial, Helvetica, Sans-Serif"><br>
    <font style="font-size: 8pt"><b>All</b></font></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Withhold</b></font><font style="font-family: Arial, Helvetica, Sans-Serif"><br>
    <font style="font-size: 8pt"><b>All</b></font></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>For All</b></font><font style="font-family: Arial, Helvetica, Sans-Serif"><br>
    <font style="font-size: 8pt"><b>Except</b></font></font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td rowspan="2" style="text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">To withhold authority to vote for any individual nominee(s), mark &ldquo;For
All Except&rdquo; and write the number(s) of the nominee(s) on the line below.</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="4" style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>The Board of Directors recommends you vote FOR the following:</b></font></td>
    <td style="vertical-align: bottom; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="vertical-align: bottom; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="vertical-align: bottom; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="vertical-align: top"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="vertical-align: top; border-right: Black 2pt solid; border-top: Black 2pt solid"><p style="margin-top: 0; margin-bottom: 0"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p></td>
    <td style="vertical-align: top; border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="3"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">1.</font></td>
    <td colspan="3"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Election of Directors</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid; padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Nominees:</b></font></td>
    <td colspan="2" style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid; padding-top: 5pt; padding-bottom: 5pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td nowrap><font style="font: 8pt Arial, Helvetica, Sans-Serif">01)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tommy G. Thompson</font></td>
    <td colspan="4" style="text-indent: 10pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><font style="font: 8pt Arial, Helvetica, Sans-Serif">07)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert V. LaPenta, Jr.</font></font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">02)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert G. Finizio</font></td>
    <td colspan="4" nowrap  style="padding-left: 10pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">08)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jules A. M&uuml;sing</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td nowrap><font style="font: 8pt Arial, Helvetica, Sans-Serif">03)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John C.K. Milligan,
IV</font></td>
    <td colspan="4" style="padding-left: 10pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">09)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angus C. Russell</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">04)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brian Bernick</font></td>
    <td colspan="4" style="padding-left: 10pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jane F. Barlow</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">05)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. Martin Carroll</font></td>
    <td colspan="4" style="padding-left: 10pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">11)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nicholas Segal</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">06)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooper C. Collins</font></td>
    <td colspan="2"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
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    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="3"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="2"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="9"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>The Board of Directors recommends you vote FOR the following proposals:</b></font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>For</b></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Against</b></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Abstain</b></font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="8"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">2.</font></td>
    <td colspan="9" style="text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">To approve, on a non-binding advisory basis, the compensation of our named executive officers for the fiscal year ended December 31, 2017 (say-on-pay);</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="8"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">3.</font></td>
    <td colspan="9" style="text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">To ratify the appointment of Grant Thornton LLP, an independent registered public accounting firm, as the independent auditor of our company for the fiscal year ending December 31, 2018;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="8"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="9"><font style="font: 8pt Arial, Helvetica, Sans-Serif">and upon such other business as may properly come before the meeting
or any adjournment thereof.</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="8"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="8">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="8">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="8"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="6"><font style="font: 8pt Arial, Helvetica, Sans-Serif">For address changes and/or comments, please check this box and write
them on the back where indicated.</font></td>
    <td style="text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="2"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Please indicate if you plan to attend this meeting.</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&#9744;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4">&nbsp;</td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Yes</b></font></td>
    <td style="text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>No</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="7" style="text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Please sign exactly as your name(s) appear(s) hereon. When signing as
attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally.
All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.</font></td>
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    <td style="border-right: Black 1pt solid; border-bottom: Black 2pt solid; border-left: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></p>
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    <td style="border-right: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
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    <td style="border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td colspan="3"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Signature [PLEASE SIGN WITHIN BOX]</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">Date</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">Signature (Joint Owners)</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">Date</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: Black 2pt solid; border-left: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
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    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
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    <td style="border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td>
    <td style="border-right: Black 2pt solid; border-bottom: Black 2pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</font></td></tr>
</table>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</p>


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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top; text-align: left">
    <td style="width: 100%; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif"><b>Important Notice Regarding
    the Availability of Proxy Materials for the Annual Meeting:</b></font> <br>
    The Notice and Proxy Statement and Form 10-K are available at www.proxyvote.com.</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0">&nbsp;</p>

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<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top; text-align: left">
    <td style="border-bottom: Black 1pt dashed; width: 100%">&nbsp;</td></tr>
<tr style="vertical-align: top; text-align: left">
    <TD STYLE="text-align: right; padding-bottom: 4pt; vertical-align: middle; padding-top: 4pt"><font style="font-size: 8pt">E44339-P07387</font></td></tr>
</table>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<tr style="vertical-align: top">
    <td style="border-top: Black 2pt solid; border-left: Black 2pt solid">&nbsp;</td>
    <td style="border-top: Black 2pt solid">&nbsp;</td>
    <td colspan="4" style="border-top: Black 2pt solid">&nbsp;</td>
    <td style="border-top: Black 2pt solid">&nbsp;</td>
    <td style="border-top: Black 2pt solid; border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: center"><b>THERAPEUTICSMD, INC.<br>
2018 Annual Meeting of Stockholders<br>
June 25, 2018, 8:00
    a.m.</b></td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: center"><b>This proxy is solicited by the Board of Directors</b></td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="6">&nbsp;</TD>
    <TD STYLE="border-right: Black 2pt solid">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: justify; text-indent: 0in">The undersigned stockholder of THERAPEUTICSMD, INC., a Nevada corporation,
hereby acknowledges receipt of the notice of annual meeting of stockholders and proxy statement and hereby appoints Robert G. Finizio
and Daniel A. Cartwright and each of them, proxies and attorneys-in-fact, with full power to each of substitution, on behalf and
in the name of the undersigned, to represent the undersigned at the 2018 Annual Meeting of Stockholders of THERAPEUTICSMD, INC.,
to be held on Monday, June 25, 2018, at 8:00 a.m., local time, at the Renaissance Boca Raton Hotel, 2000 NW 19th Street, Boca Raton,
Florida 33431 and at any adjournment or adjournments thereof, and to vote all shares of common stock which the undersigned would
be entitled to vote if then and there personally present on the matters set forth on the reverse side of this proxy card.</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: justify; text-indent: 0.25in">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6" style="text-align: justify; text-indent: 0in"><b>This proxy, when properly executed, will be voted in the manner directed herein. If no such direction
is made, this proxy will be voted in accordance with the Board of Directors&rsquo; recommendations.</b></td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="6">&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td colspan="5" style="text-align: center"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>PLEASE MARK, SIGN, DATE, AND RETURN THIS PROXY CARD PROMPTLY
IN THE ENCLOSED ENVELOPE.</b></p></td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td><i>&nbsp;</i></td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td nowrap  style="border-left: Black 1pt solid"><b>&nbsp;</b></td>
    <td nowrap><b>Address Changes/Comments: &nbsp;</b></td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid; width: 5%">&nbsp;</td>
    <td style="width: 5%">&nbsp;</td>
    <td style="border-left: Black 1pt solid; width: 3%">&nbsp;</td>
    <td style="width: 18%; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 57%; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; width: 2%">&nbsp;</td>
    <td style="width: 5%">&nbsp;</td>
    <td style="border-right: Black 2pt solid; width: 5%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4" style="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4" style="text-align: center"><font style="font-size: 8pt">(If you noted any Address Changes/Comments above, please mark
    corresponding box on the reverse side.)</font></td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4" style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 2pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="4" style="text-align: center"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Continued and to be signed on reverse side</b></p></td>
    <td>&nbsp;</td>
    <td style="border-right: Black 2pt solid">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 2pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 2pt solid">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <td style="border-bottom: Black 2pt solid; border-left: Black 2pt solid">&nbsp;</td>
    <td style="border-bottom: Black 2pt solid">&nbsp;</td>
    <td colspan="4" style="border-bottom: Black 2pt solid; text-align: center"></td>
    <td style="border-bottom: Black 2pt solid">&nbsp;</td>
    <td style="border-right: Black 2pt solid; border-bottom: Black 2pt solid">&nbsp;</td></tr>
</table>
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